NanoRepro AG
ISIN: DE0006577109
WKN: 657710
05 October 2026 09:00AM

Original-Research: NanoRepro AG (von NuWays AG): BUY

NanoRepro AG · ISIN: DE0006577109 · EQS - Analysts
Country: Germany · Primary market: Germany · EQS NID: 26968

Original-Research: NanoRepro AG - from NuWays AG

05.10.2026 / 09:00 CET/CEST
Dissemination of a Research, transmitted by EQS News - a service of EQS Group.
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.


Classification of NuWays AG to NanoRepro AG

Company Name: NanoRepro AG
ISIN: DE0006577109
 
Reason for the research: Update
Recommendation: BUY
Target price: EUR 4.40
Target price on sight of: 12 months
Last rating change:
Analyst: Sarah Hellemann

NanoRepro gains majority in Deutsche Kosmetikwerke

On Wednesday, NanoRepro announced that it has gained the majority in Deutsche Kosmetikwerke (DKW) with its skincare brand newkee, to be consolidated from October '26 onwards. In detail:

Bringing active skincare brand newkee into the fold. NanoRepro's omnichannel distribution model is seen to open up revenue and cost synergy potential as well as additional market access for newkee. And newkee allows NanoRepro access to customer groups its other brands currently do not reach.

Transaction. NanoRepro swapped 263,000 treasury shares from a previous buyback worth c. € 0.45m at current market prices for a 6.52% stake of DKW held by Angelique Kerber and one additional previous shareholder. DKW was valued at c. € 12m total, valuing the acquired stake at € 0.8m (eNuW). This implies a transaction discount of c. 43.8% and which in our view is due to DKW not yet seen as profitable.

Integrating the platform is key to adding value. DKW is seen to add revenue of € 0.4m (eNuW) in FY26e and € 3.1m (eNuW) in FY27e. However, building the brands ALPHABIOL and newkee comes with high promotional expenses of some € 4m (eNuW) of which the majority is seen to fall into FY27e. newkee also contributes its own workforce with current personnel expenses of € 0.7m (eNuW). In our view, this should delay the point of break-even for EBITDA to FY28e (eNuW; previously FY27e), despite ongoing internal optimization efforts such as the finance and back office harmonization planned for Q4 26e.

Scaling to pay off in the mid- and long-term. With the integration of distribution and market access (e. g. in brick-and-mortar retail) planned for FY27 and the heavy brand marketing behind it, EBITDA should turn clearly positive in FY28e and accelerate thereafter. Confirming BUY at a PT of € 4.4, based on DCF.

You can download the research here: nanorepro-ag-2026-10-05-update-en-930f3
For additional information visit our website: https://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
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2409940  05.10.2026 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
  2020 2021 2022 2023 2024 2025 2026e
Sales1 16,93 162,72 38,49 3,18 4,47 16,00 18,00
EBITDA1,2 4,69 39,53 5,46 -4,42 -3,52 -1,70 0,15
EBITDA-Margin3 27,70 24,29 14,19 -138,99 -78,75 -10,63 0,83
EBIT1,4 2,80 38,81 -4,37 -5,34 -3,62 -2,80 0,05
EBIT-Margin5 16,54 23,85 -11,35 -167,93 -80,98 -17,50 0,28
Net Profit (Loss)1 1,70 29,72 -3,72 -4,69 -2,05 -2,00 -0,03
Net-Margin6 10,04 18,27 -9,67 -147,48 -45,86 -12,50 -0,17
Cashflow1,7 -1,11 8,21 13,15 -10,26 9,86 -1,30 -0,15
Earnings per share8 0,13 2,30 -0,29 -0,36 -0,16 -0,15 -0,01
Dividend per share8 0,00 0,50 0,15 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: PanTaxAudit

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
NanoRepro
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
657710 DE0006577109 AG 22,71 Mio € 14.10.2008 Halten 9F2CRQ59+3R
* * *
PE 2027e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
17,78 16,09 1,10 -22,86 0,60 2,30 1,42
Dividends
Dividend '2024
in €
Dividend '2025
in €
Dividend '2026e
in €
Div.-Yield '2026e
in %
0,00 0,00 0,00 0,00%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
07.09.2026 - 30.10.2026 - 30.10.2026
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
-2,74%
1,60 €
ATH 22,40 €
-10,41% -6,38% +6,31% -0,93% -84,77%

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