beaconsmind AG
ISIN: CH0451123589
WKN: A2QN5W
28 February 2024 09:06AM

Original-Research: beaconsmind AG (von NuWays AG): Buy

beaconsmind AG · ISIN: CH0451123589 · EQS - Analysts
Country: Germany · Primary market: Germany · EQS NID: 18999

Original-Research: beaconsmind AG - from NuWays AG

Classification of NuWays AG to beaconsmind AG

Company Name: beaconsmind AG
ISIN: CH0451123589

Reason for the research: Update
Recommendation: Buy
from: 28.02.2024
Target price: 15.00
Target price on sight of: 12 Monaten
Last rating change:
Analyst: Philipp Sennewald

Strong order intake to start the year; chg.

Topic: beaconsmind announced three major contract extensions, two of which in the CloudWiFi hotspot segment, proving the strength of the groups newly aligned product portfolio. In detail:

The company extended its collaboration with nursing homes operator Vitanas, where beaconsmind will implement comprehensive Wi-Fi coverage at 15 additional locations. The project is scheduled to be rolled out in Q2 ’24 and has a total sales volume of c. CHF 1m. In addition, the company also expanded its contract with retail company Müller. After beaconsmind implemented its Wi-Fi solutions in over 770 stores in the DACH region and Spain in recent year, the company was now commissioned to install FREDERIX CloudWiFi also in the remaing c. 145 stores in CEE. The project rollout is scheduled for the first half of 2024 and should generate total sales in the lower single-digit CHFm range (eNuW). With this, beaconsmind is once again proving the compelling up- and cross-selling potential of the product portfolio as well as the value-added from the recent acquisitions. On top of this, beaconsmind gained property manager Reos GmbH as a customer, as the company will roll-out a self-developed VPN network across all ten locations of Reos. The deal is announced to have a total volume of c. CHF 0.5m.

Impact of transaction to unfold in H2. beaconsmind is seen to report a solid set of FY figures in May, which are seen to display the full effect of the recent acquisitions. In detail, we expect sales to come in at CHF 6.9m (H2: CHF 4.3m) and an EBITDA of CHF -0.6m (H2: CHF -0.1m). In FY ‘24e sales are seen to increase to CHF 12.5m, which is in line with managements guidance of CHF 12.6m, while EBITDA looks set to turn positive at CHF 2m. The main drivers for this should be (1) the full effect of the acquisitions of KADSOFT and T2 (closed in H2 ’23), (2) synergy effects from crossselling across the beaconsomind Group enhancing organic growth, (3) the ongoing internationalization as well as (3) the continuously growing share of SaaS revenues (see p. 2) allowing for improved operating leverage.

Mind you, the company looks set to continue its Buy & Build strategy (5 acquisitions in past 18 months) going forward. For 2024e, we expect acqusitions to the tune of € 4-5m sales to be in the pipeline. Here, management is seen to be looking for margin accretive, bolt-on acqusitions. As future M&A is not included in our model, this leaves a certain upside to our estimates.

Reiterate BUY with a new PT of € 15.00 based on DCF.

You can download the research here:
http://www.more-ir.de/d/28999.pdf
For additional information visit our website www.nuways-ag.com/research.

Contact for questions
Die Analyse oder weiterführende Informationen zu dieser können Sie hier downloaden www.nuways-ag.com/research.
Kontakt für Rückfragen
NuWays AG - Equity Research
Web: www.nuways-ag.com
Email: research@nuways-ag.com
LinkedIn: https://www.linkedin.com/company/nuwaysag Adresse: Mittelweg 16-17, 20148 Hamburg, Germany ++++++++++
Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte. Offenlegung möglicher Interessenskonflikte nach § 85 WpHG beim oben analysierten Unternehmen befinden sich in der vollständigen Analyse. ++++++++++

-------------------transmitted by EQS Group AG.-------------------

The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions.

Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 0,42 0,49 0,76 1,98 1,57 6,61 13,40
EBITDA1,2 -0,26 -0,46 -1,99 -2,24 -4,70 -0,56 2,60
EBITDA-Margin3 -61,91 -93,88 -261,84 -113,13 -299,36 -8,47 19,40
EBIT1,4 -0,41 -0,53 -2,04 -2,46 -5,28 -1,40 1,77
EBIT-Margin5 -97,62 -108,16 -268,42 -124,24 -336,31 -21,18 13,21
Net Profit (Loss)1 -0,44 -0,54 -2,05 -2,50 -5,43 -2,32 0,68
Net-Margin6 -104,76 -110,20 -269,74 -126,26 -345,86 -35,10 5,08
Cashflow1,7 -0,31 -0,41 -2,12 -2,60 -4,85 -1,47 0,00
Earnings per share8 -0,16 -0,20 -0,76 -1,01 -1,16 -0,60 0,15
Dividend per share8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: PricewaterhouseCoopers

All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.

INVESTOR-INFORMATION
©boersengefluester.de
Beaconsmind
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
A2QN5W CH0451123589 AG 37,46 Mio € 07.04.2022 8FVC6PR7+7X
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
23,28 45,00 0,52 -17,13 4,34 -25,34 5,66
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
0,00 0,00 0,00 0,00%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
08.08.2024 30.09.2024 28.06.2024
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
+3,05%
6,75 €
ATH 13,00 €
+1,19% +34,38% +25,00% +41,21% -43,75%

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