Original-Research: Singulus Technologies AG (von NuWays AG): Halten
Source: EQSClassification of
Company
ISIN: DE000A1681X5
Reason for the research: Update
Recommendation: Halten
from:
Target price:
Target price on sight of: 12 Monaten
Last rating change:
Analyst: Konstantin Völk
Recovery of order intake should support growth in FY24e
Topic: After a temperate demand from customers in the last fiscal year, FY24e looks more encouraging. With several promising projects in the pipeline, signaled by a strong order intake of € 33m in the first quarter (vs. € 43m in entire FY23), we expect better results for FY24e.
Solar: In FY24e, Solar should again be the most important segment for
Hydrogen: In the field of hydrogen (part of the Semiconductor segment),
Proposal for bond extension failed: At the second bondholder meeting on
Operating breakeven plausible: Supported by a strong order intake of € 33m
in Q1 (+136% yoy) it looks plausible for
Based on our estimates, the company has to reach close to € 100m in revenue (eNuW FY24e: € 97m) to cover its costs, which seems in reach after a good start into the year.
We reiterate HOLD with an unchanged PT of € 1.60 based on DCF.
You can download the research here:
http://www.more-ir.de/d/30109.pdf
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www.nuways-ag.com/research.
Contact for questions
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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