Original-Research: Nynomic AG (von NuWays AG): BUY
|
Original-Research: Nynomic AG - from NuWays AG
Classification of NuWays AG to Nynomic AG
Muted start into the year; gradual improvements expected Topic: Nynomic published a muted start into FY25, largely the result of the ongoing uncertainty within its key end markets. Yet, management remains confident to be able to record gradual improvements throughout the year. Preliminary sales in Q1 declined by 10% yoy to € 20.6m due to unchanged wait-and-see attitude of customers and situation-related investment postponements, particularly in the semiconductor industry. As a result of the weak operating leverage, preliminary Q1 EBIT turned negative at € -0.9m (vs € 1.6m in Q1 2024). Order backlog down yoy due to fundamentally changed order behaviour. In particular, larger OEM customers have adjusted their ordering patterns in response to increased market uncertainty and reduced predictability. Instead of placing long-term blanket orders for 12 or 24 months, they are increasingly opting for shorter-term orders, such as on a quarterly basis. The € 45m order backlog at the end of Q1 (-24% yoy) is hence no major reason for concern, in our view. FY25 guidance remains unchanged. Management continues to expect € 105-110m sales (eNuW: € 108m) and € 8.5-10m EBIT (eNuW: € 9.1m) for the full year, carried by sequential improvements throughout the year, a well filled product pipeline, recent product launches, improving demand from core markets such as semiconductors, med-tech and pharma but also delayed orders materializing. Importantly, management reaffirmed its mid-term targets of €200m in sales and a 16–19% EBIT margin within 3-5 years, driven by organic growth and strategic acquisitions. This dual strategy positions Nynomic to capitalize on rising industry demand and enter a promising growth phase. While the Q1 results reflect a challenging start into 2025, we take comfort from the solid order backlog and management’s confidence in catching up over the year. Structural measures should support margin expansion beyond 2025. While the short-term visibility remains limited due to volatile customer ordering patterns, the long-term prospects remain unchanged, which is not reflected in the depressed valuation. We hence confirm our BUY rating with an unchanged € 34.5 PT based on DCF. You can download the research here: http://www.more-ir.de/d/32524.pdf 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 Interessenskonflikte nach § 85 WpHG beim oben analysierten Unternehmen befinden sich in der vollständigen Analyse. ++++++++++
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
||||||||||||||||||||
2133672 09.05.2025 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 | 64,86 | 78,56 | 105,08 | 116,79 | 117,99 | 102,42 | 102,50 | |
| EBITDA1,2 | 9,55 | 11,43 | 17,00 | 19,18 | 20,22 | 15,51 | 7,00 | |
| EBITDA-Margin3 | 14,72 | 14,55 | 16,18 | 16,42 | 17,14 | 15,14 | 6,83 | |
| EBIT1,4 | 6,43 | 7,97 | 12,99 | 15,08 | 15,43 | 7,39 | 2,00 | |
| EBIT-Margin5 | 9,91 | 10,15 | 12,36 | 12,91 | 13,08 | 7,22 | 1,95 | |
| Net Profit (Loss)1 | 4,30 | 5,18 | 9,52 | 9,95 | 10,53 | -0,27 | -0,15 | |
| Net-Margin6 | 6,63 | 6,59 | 9,06 | 8,52 | 8,92 | -0,26 | -0,15 | |
| Cashflow1,7 | 3,56 | 6,37 | 17,83 | 9,68 | 3,17 | 7,79 | 6,80 | |
| Earnings per share8 | 0,87 | 0,83 | 1,37 | 1,26 | 1,47 | -0,10 | -0,02 | |
| 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: Dr. Clauß, Dr. Paal & Partner
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 | ||||||
| Nynomic | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| A0MSN1 | DE000A0MSN11 | AG | 72,45 Mio € | 02.07.2007 | Halten | 9F5FHPV5+7C |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 15,71 | 22,93 | 0,69 | 10,97 | 0,74 | 9,29 | 0,71 |
|
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 |
| 08.07.2025 | 08.05.2025 | 12.08.2025 | 28.11.2025 | 22.05.2025 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| +2,52% | -12,13% | -37,50% | -37,85% | +7,32% |
Founded in 2013 by Gereon Kruse, the financial portal boersengefluester.de is all about German shares - with a clear focus on second-line stocks. In addition to traditional editorial articles, the site stands out in particular thanks to a large number of self-developed analysis tools. All tools are based on a completely self-maintained database for more than 650 shares. As a result, boersengefluester.de produces Germany's largest profit and dividend forecast.
Contact
