Original-Research: beaconsmind AG (von NuWays AG): Buy
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Original-Research: beaconsmind AG - from NuWays AG
Classification of NuWays AG to beaconsmind AG
Strong growth and profitability in H1 driven by acquisitions; chg. Topic: beaconsmind released its H1 '24 management report, showing substantial top-line growth driven by the numerous acquisitions that were performed in 2022 and 2023. Here are the key takeaways. H1 ’24 sales increased by 122% yoy to CHF 5.9m (eNuW: CHF 6.2m; eNuW: 70% recurring), which was mainly driven by the acquisitions of FREDERIX, Socialwave, Netopsie, T2 and Kadsoft. In fact, revenues from T2 and Kadsoft were consolidated for the first time, as the deal has been closed at YE '23. In 2023, T2 and Kadsoft recorded combined revenues of € 3.5m. H1 adj. EBITDA came in at CHF 1.1m (eNuW: CHF 1.0m) , showing the positive impacts of the acquisitions. The adjustments of CHF 0.6m were mainly attributed to legal and personnel expenses in relation to the acquisitions of FREDERIX, Socialwave, Netopsie, T2 and Kadsoft. Moreover, management reiterated the run rate for 2024, targeting sales of CHF 12.9m as well as an adj. EBITDA of CHF 2.5m. This should be achievable for beaconsmind given the strong H1 performance as well as several new contracts that were closed during the first half of the year. Speaking of which, beaconsmind continues to gain new customers. For example, the company will provide the Semperoper in Dresden with its projector technology (eNuW: CHF 0.2m sales), while retailer Müller implemented beaconsminds CloudWifi solutions in more than 770 supermarkets in the DACH region and Spain. Moreover, beaconsmind gained ECE group, a leading shopping center operator, as a customer (eNuW: CHF 0.5m recurring sales). Just recently, the company also announced to have intensified its collaboration with a leading European retailer, who will apply the beaconsmind Auto App Login at c. 940 locations in Europe. Regional expansion. On top of this, beaconsmind in May announced its expansion into the Spanish market with the establishment of an own entity. With this, the company responds to the high penetration rate of digital marketing solutions in Spain, especially in hospitality and gastronomy. Management said to target annual revenues of CHF 600k and expected significant growth potential going forward. New tech partnership. In Q2, beaconsmind announced to have entered into a partnership with at-visions (digital solutions for hospitality) and lokalee (AI based concierge solutions). The partnership aims to provide a fully integrated solution for retail and hospitality customers in the MENA region, focusing on a comprehensive technology value chain in order to enhance guest experience while providing an integrated hard- and software solution. Given beaconsmind’s existent expertise in the hospitality segment, we expect significant up-selling potential from this initiative. Besides organic growth, we expect beaconsmind to continue its buy and build strategy with further acquisitions to come. While the company has not been active on the M&A market in 2024 thus far, we expect at least one further acquisition until H1 ‘25e. The stock remains a BUY with a new PT of € 16 (old: € 15) based on DCF. You can download the research here: http://www.more-ir.de/d/31011.pdf For additional information visit our website: www.nuways-ag.com/research Contact for questions: 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. ++++++++++
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2004651 09.10.2024 CET/CEST
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 | |
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 |
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Dividend '2022 in € |
Dividend '2023 in € |
Dividend '2024e in € |
Div.-Yield '2024e in % |
| 0,00 | 0,00 | 0,00 | 0,00% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 08.08.2024 | 30.09.2024 | 28.06.2024 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| +1,19% | +34,38% | +25,00% | +41,21% | -43,75% |
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