Original-Research: Nynomic AG (von NuWays AG): BUY
Source: EQSEinstufung von
Unternehmen:
ISIN: DE000A0MSN11
Anlass der Studie: Update
Empfehlung: BUY
seit:
Kursziel: 54.00
Kursziel auf Sicht von: 12 Monaten
Letzte Ratingänderung:
Analyst:
Strong Q4 expected // 2024 to be marked by significant growth
Topic:
Q4 sales are seen to come in at € 37.6m (+14% yoy; FY23e sales +4% yoy) thanks to confirmed calloff dates of formerly delayed orders and several new projects within structurally growing markets. This should partially compensate for the flattish top-line development during 9M. As a result of the expected strong sales figure and the ability to book high-margin development revenues (typically due towards the end of a year), the EBIT margin in the fourth quarter is seen to jump to 19.8% (+5.9pp yoy; FY23e margin +0.1pp yoy), thus reaching a new record high.
Returning to strong growth in 2024. For FY24e, we expect
Thanks to a positive operating leverage, so far loss-making businesses
scaling up and a growing share of recurring and high-margin software
revenues (related to hardware sales),
Additional inorganic tailwinds in the cards. As per its Buy & Build
strategy,
This, coupled with expected organic double-digit sales CAGR during the mid-term (eNuW), bodes well with the company's mid-term targets of € 200m sales with an EBIT margin of 16-19%.
BUY with an unchanged € 54 PT based on DCF.
Die vollständige Analyse können Sie hier downloaden:
http://www.more-ir.de/d/28949.pdf
Die Analyse oder weiterführende Informationen zu dieser können Sie hier downloaden
www.nuways-ag.com/research.
Kontakt für Rückfragen
Die Analyse oder weiterführende Informationen zu dieser können Sie hier downloaden
www.nuways-ag.com/research.
Kontakt für Rückfragen
Web: www.nuways-ag.com
Email: research@nuways-ag.com
LinkedIn: https://www.linkedin.com/company/nuwaysag
Adresse: Mittelweg 16-17, 20148
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Ersteller der Studie verantwortlich.