Original-Research: mVISE AG (von NuWays AG): BUY
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Original-Research: mVISE AG - from NuWays AG
Classification of NuWays AG to mVISE AG
Buy & Build to gain momentum Yesterday, management announced it has entered into concrete negotiations to acquire minority stakes in three independent, software-centric companies. The announcement marks a pivotal step in mVISE's transformation from a restructured software developer into an operative Buy & Build platform, precisely the catalyst we have been flagging as the key near-term value driver in our latest updated. According to the release, the three targets operate independently from one another and are well-positioned in their respective niches. One is already German market leader in its end-customer segment, the second is one of the leading players in the Ad-Tech space operating a specialised SaaS platform, and the third operates a proprietary cloud e-commerce platform covering all processes for digital commerce, holding a leading position in the merchandising market. Targeted stakes range from slightly above 10% to just below 30% and are explicitly intended as a starting point, with management targeting full consolidation over time and an uncontested market leadership position in Germany. In line with mVISE's central approach, which distinguishes it fundamentally from purely financially-driven serial acquirers, the company plans to actively contribute to software development, sales support and administrative consolidation at all three targets. Management also intends to take on leadership roles within the target companies. The combined operational contribution is expected to generate annual revenues of c. € 3.0m at a recurring EBITDA of € 1.2-1.5m for mVISE. The aggregate stake values are estimated at € 8-12m, which we view as absolutely reasonable multiples (7.4x EV/EBITDA at mid-point) for software centric companies. The total addressable revenue base across all three targets stands at c. € 40m according to management. Despite this, we leave our estimates unchanged as we do not include any M&A contribution in our model until transactions are formally closed. Hence, successful completion would represent upside to our forecast and PT. At 12.2x FY26e EV/EBITDA, the current valuation does not yet reflect the strategic optionality embedded in the Buy & Build platform. We hence reiterate BUY with an unchanged PT of € 10.50 based on DCF. You can download the research here: mvise-ag-2026-04-14-update-en-0c0c1 For additional information visit our website: https://www.nuways-ag.com/research-feed 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 Interessenkonflikte nach § 85 WpHG beim oben analysierten Unternehmen befindet sich in der vollständigen Analyse. ++++++++++
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2307666 14.04.2026 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 | 18,99 | 14,90 | 15,64 | 14,18 | 9,33 | 5,50 | 0,00 | |
| EBITDA1,2 | -0,99 | 1,51 | 0,00 | 1,10 | 1,13 | 1,30 | 1,50 | |
| EBITDA-Margin3 | -5,21 | 10,13 | 0,00 | 7,76 | 12,11 | 23,64 | 0,00 | |
| EBIT1,4 | -2,92 | 0,01 | -0,90 | -1,78 | -1,85 | -0,35 | 0,00 | |
| EBIT-Margin5 | -15,38 | 0,07 | -5,75 | -12,55 | -19,83 | -6,36 | 0,00 | |
| Net Profit (Loss)1 | -4,11 | -0,31 | -2,23 | -3,42 | -3,98 | -0,42 | 0,00 | |
| Net-Margin6 | -21,64 | -2,08 | -14,26 | -24,12 | -42,66 | -7,64 | 0,00 | |
| Cashflow1,7 | 1,57 | -0,45 | 3,14 | 0,36 | -0,03 | 0,40 | 0,00 | |
| Earnings per share8 | -4,00 | -0,30 | -2,20 | -3,50 | -1,90 | -0,20 | 0,20 | |
| 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: HaackSchubert
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 | ||||||
| mVISE | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| A0KE04 | DE000A0KE043 | AG | 16,71 Mio € | 13.01.2006 | Kaufen | 9F386Q86+8F |
| PE 2027e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 26,17 | 29,68 | 0,88 | -8,71 | 3,01 | -576,13 | 3,04 |
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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 |
| 06.05.2025 | 28.04.2025 | 24.09.2025 | 25.03.2025 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| +8,56% | +36,40% | +68,82% | +41,44% | +0,00% |
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