HelloFresh’s weak outlook reflected MSG's market est. Topic: Last Friday, Marley Spoon's (MSG) close peer HelloFresh (HFG) released a weaker-than-expected outlook for FY24 and withdrew its FY25 (mid-term) targets on the back of particularly challenging end markets, triggering a 40-50% sell-off of the stock. Importantly, the weak end marke [ … ]

FY prelims without surprises + bullish outlook // chg. Implied Q4 sales increased by 9% yoy to € 50.8m (eNuW: € 47.6m, eCons: € 47.4m). Growth was predominantly driven by the continued recovery of the SAP segment (21% of sales), where revenues increased strongly by 28% yoy to € 10.8m (eNuW: € 8.9m), following several ke [ … ]

Conservative FY24 guidance, but ambitious mid-term vision Topic: Yesterday, Rubean announced a rather conservative topline guidance for FY24 as well as an ambitious mid-term vision with regards to sales, EBIT and app user. In detail: Sales to more than double in FY24. Rubean is expecting to grow its sales by 135% at mid-point to € 2.2-2. [ … ]

Staige One AG announced plans to raise fresh capital, aiming for a 12.5% increase in capital by issuing up to 620K shares at EUR 2.00 each, a 20% discount. The move seeks to finance future growth, with gross proceeds of around EUR 1.24m. Existing shareholders can subscribe at a ratio of 8:1, with two major shareholders already committed. Staige, known for its AI-driven sports camera, targets expanding its technology and capitalizing on B2C opportunities. The company, dominant in the DACH region, plans to leverage its growing customer base. AlsterResearch’s analysts view the capital raise positively, highlighting continued growth prospects and the need to bridge to profitability. AlsterResearch therefore maintains the BUY rating, with unchanged PT of EUR 6.50 and noting Staige's attractive valuation compared to similar companies in the SaaS sphere. The full update can be found under https://www.research-hub.de/companies/Staige%20One%20AG

Formycon’s FYB201 has received marketing authorization from the Saudi Food & Drug Authority. The biosimilar of Lucentis is marketed in the Middle East and North Africa (MENA) region by MS Pharma. FYB201 is expected to be available from the second quarter of 2024 under the trade name Ravegza, and further market launches are expected throughout 2024. The upcoming market launch in Saudi Arabia marks another milestone in the commercialization of FYB201, as the pharmaceutical sector in Saudi Arabia accounts for roughly 60% of the MENA market, highlighting its substantial role. However, updates on the anticipated approval of FYB202 and FYB203 will be a particular focus this year. AlsterResearch’s analysts confirm their price target of EUR 91.00, as well as their BUY rating. The full update can be downloaded under https://www.research-hub.de/companies/Formycon%20AG

First Berlin Equity Research hat ein Research Update zu Media and Games Invest SE (ISIN: SE0018538068) veröffentlicht. Analyst Ellis Acklin bestätigt seine BUY-Empfehlung und erhöht das Kursziel von EUR 3,20 auf EUR 3,60. Zusammenfassung: MGI überraschte im vierten Quartal mit einer Umsatzsteigerung, die durch ein starkes J/ [ … ]

ProSiebenSat.1 (PSM) has published 2023 results as previously announced, with revenues coming in below PSM’s guidance and AlsterResearch’s expectations, while adjusted (adj.) EBITDA stood above PSM’s expectations, helped by various smaller one-off effects. The recovering DACH advertisement business and increasing demand for Joyn (strong quarterly result with a record 6.3m monthly video users and 8.8bn minutes of viewing time) aided the positive top-line performance in Q4. Furthermore, PSM has shown a good start in Q1 2024, with increasing DACH ad sales (c. 2% yoy growth expected in 2024 vs -1% yoy consensus expectations). Hence, it expects FY 2024 revenues to grow slightly to c. EUR 3.95bn (+/- EUR 150m), while it confirmed adj. EBITDA outlook to remain at the previous year's level on an expected rise in programming investments. However, AlsterResearch’s analysts remain cautious amid the ongoing macroeconomic uncertainties and maintain their SELL rating. The full update can be downloaded under https://www.research-hub.de/companies/research/ProSiebenSat.1%20Media%20SE

Qualification for FIFA CWC 25 provides earnings upside for BVB Following RB Leipzig´s UEFA Champions League (UCL) exit against Real Madrid last week Borussia Dortmund is now officially qualified for FIFA Club World Cup 2025. The recently founded FIFA Club World Cup (CWC), which will be held in a four-year rhythm, will take place from Ju [ … ]

Netfonds beat expectations // Strong FY23 prelims; chg Netfonds reported strong FY23 prelims beating our expectations. Further, the company provided a new guidance for FY24 that remained rather vague for the moment. In detail: Gross sales came in at € 197m (+12% yoy), clearly above our estimate of € 191m. Key driver were the busines [ … ]

Growth avenues lead the way in 2024 and beyond elumeo looks set to benefit from two growth initiatives in particular which should help both top and bottom line performance going forward: Growth avenue #1: juwelo. We currently expect much of H1'24e to be burdened by the continued muted consumer sentiment witnessed over the last quarters, estim [ … ]