Original-Research: SFC Energy AG (von First Berlin Equity Research GmbH): Buy
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Original-Research: SFC Energy AG - from First Berlin Equity Research GmbH
Classification of First Berlin Equity Research GmbH to SFC Energy AG
First Berlin Equity Research hat ein Research Update zu SFC Energy AG (ISIN: DE0007568578) veröffentlicht. Analyst Dr. Karsten von Blumenthal bestätigt seine BUY-Empfehlung und senkt das Kursziel von EUR 26,00 auf EUR 21,00. Zusammenfassung: Die Zahlen von SFC Energy für das dritte Quartal fielen deutlich schwächer aus als im Vorjahreszeitraum. Während Umsatz und Bruttogewinn hinter unseren Prognosen zurückblieben, entsprach das AEBITDA unseren Erwartungen, was auf Kostendisziplin hindeutet. Das Management senkte die Umsatzguidance für 2025 auf das untere Ende der Spanne und die AEBITDA- und AEBIT-Guidances auf die untere Hälfte der im Juli angegebenen Spanne. Nach dem Erwerb einer 15%igen Beteiligung an seinem asiatischen Partner Oneberry könnte die Übernahme ein wichtiger externer Wachstumstreiber sein, wenn SFC seine Option zum Erwerb von 50% ausübt. Wir erwarten weiterhin ein starkes viertes Quartal, das durch einen hohen Auftragseingang im dritten Quartal gestützt wird, haben jedoch unsere Prognosen für 2025E und die folgenden Jahre gesenkt, um dem schwierigen Geschäftsumfeld Rechnung zu tragen, das voraussichtlich auch das erste Halbjahr 2026E dominieren wird. Ein aktualisiertes DCF-Modell ergibt ein neues Kursziel von €21 (zuvor: €26). Wir bestätigen unsere Kaufempfehlung (Aufwärtspotenzial: 70%). First Berlin Equity Research has published a research update on SFC Energy AG (ISIN: DE0007568578). Analyst Dr. Karsten von Blumenthal reiterated his BUY rating and decreased the price target from EUR 26.00 to EUR 21.00 Abstract: SFC Energy's Q3 figures were much weaker than in the prior year period. While revenue and gross profit undershot our forecast, AEBITDA was in line with our expectation, which points to cost discipline. Management narrowed 2025 revenue guidance towards the lower end of the range, and AEBITDA & AEBIT guidance towards the lower half of the range given in July. Following the acquisition of a 15% stake in its Asian partner Oneberry, the takeover could be an important external growth driver if SFC exercises its option to acquire 50%. We still expect a strong Q4, which is underpinned by a high order intake in Q3, but have lowered our forecasts for 2025E and the following years to reflect the challenging business environment, which looks set to also dominate H1/26E. An updated DCF model yields a new price target of €21 (previously: €26). We confirm our Buy recommendation (upside: 70%). Bezüglich der Pflichtangaben gem. §85 Abs. 1 S. 1 WpHG und des Haftungsausschlusses siehe die vollständige Analyse. You can download the research here: F3C_GR-2025-11-20_EN Contact for questions: First Berlin Equity Research GmbH Herr Gaurav Tiwari Tel.: +49 (0)30 809 39 686 web: www.firstberlin.com E-Mail: g.tiwari@firstberlin.com
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2233676 20.11.2025 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 | ||||||||
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025e | ||
| Sales1 | 58,54 | 53,22 | 64,32 | 85,23 | 118,15 | 144,75 | 148,00 | |
| EBITDA1,2 | 1,70 | -0,99 | -0,80 | 8,59 | 14,62 | 20,19 | 10,00 | |
| EBITDA-Margin3 | 2,90 | -1,86 | -1,24 | 10,08 | 12,37 | 13,95 | 6,76 | |
| EBIT1,4 | -1,29 | -4,50 | -5,11 | 3,60 | 9,16 | 13,74 | 2,00 | |
| EBIT-Margin5 | -2,20 | -8,46 | -7,95 | 4,22 | 7,75 | 9,49 | 1,35 | |
| Net Profit (Loss)1 | -1,93 | -5,18 | -5,83 | 2,02 | 21,06 | 9,36 | -1,10 | |
| Net-Margin6 | -3,30 | -9,73 | -9,06 | 2,37 | 17,83 | 6,47 | -0,74 | |
| Cashflow1,7 | -1,26 | -0,60 | 1,08 | -4,76 | 3,58 | 14,46 | 6,00 | |
| Earnings per share8 | -0,17 | -0,39 | -0,40 | 0,07 | 1,18 | 0,54 | -0,06 | |
| 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 | ||||||
| SFC Energy | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| 756857 | DE0007568578 | AG | 214,14 Mio € | 25.05.2007 | Kaufen | 8FWH2MR8+63 |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 28,00 | 24,20 | 1,16 | 154,00 | 1,56 | 14,81 | 1,48 |
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Dividend '2023 in € |
Dividend '2024 in € |
Dividend '2025e in € |
Div.-Yield '2025e in % |
| 0,00 | 0,00 | 0,00 | 0,00% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 21.05.2026 | 19.05.2026 | 25.08.2026 | 18.11.2025 | 26.03.2026 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -21,08% | -36,04% | -27,67% | -27,25% | -66,38% |
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