Nynomic AG
ISIN: DE000A0MSN11
WKN: A0MSN1
15 April 2024 09:01AM

Original-Research: Nynomic AG (von NuWays AG): Kaufen

Nynomic AG · ISIN: DE000A0MSN11 · EQS - Analysts
Country: Germany · Primary market: Germany · EQS NID: 19415

Original-Research: Nynomic AG - from NuWays AG

Classification of NuWays AG to Nynomic AG

Company Name: Nynomic AG
ISIN: DE000A0MSN11

Reason for the research: Update
Recommendation: Kaufen
from: 15.04.2024
Target price: EUR 52.00
Target price on sight of: 12 Monaten
Last rating change:
Analyst: Christian Sandherr

New product launched: Another building block for the mid-term

Nynomic announced that its subsidiary Spectral Engines and Kraemer Elektronik, an expert for high quality testing systems of bulk solids for the pharmaceutical, chemical and food industry, have jointly developed and now presented a new product, the LabScanner Plus.

While Kraemer Elektronik provides the casing including the technology to measure weight and shape, Nynomic’s eight sensors (based on the NIRONE scanner) quickly determine the composition of the tested pills. With this, one can analyze and digitalize the results of large sample sizes quickly. Originally intended to quickly build up the databases necessary to reliably detect counterfeit pharmaceuticals with its handheld sensors, it should be met with broad interest from quality assurance departments in the pharmaceutical industry.

Following the successful certification from potential customers, Nynomic should be able to generate first sales this year already, eNuW. While we only expect a small sales contribution from LabScanner Plus in FY24e (~ € 1m, eNuW), it contributes another building block to management’s mid- to long-term strategy and should have the potential for a mid single-digit annual sales contribution during the next few years.

FY24 growth to accelerate. Following last year’s muted sales growth (1%) largely due to the lumpy nature of parts of the group and customers’ inventory normalizations, FY24e looks set to show a notable acceleration. We expect 12% yoy growth (8% organic) on the back of a number of drivers including (1) unbroken demand from semi customers, (2) fulfilment precision farming orders, (3) TactiScan gaining traction, (4) a structurally growing medtech market and (5) new product launches such as LabScanner Plus.

Additional growth from acquisitions likely. As highlighted during the recent earnings call and inline with the growth strategy, Nynomic should be looking to add 1-2 additional companies during the next six months. Thanks to its balance sheet strength, it could also consider larger targets with up to € 20m sales. Trading below 11x EV/EBIT FY24e and in light of the prospects reflected in the company's mid-term guidance of € 200m sales and a 16-19% EBIT margin, shares look attractively priced. We confirm our BUY rating with an unchanged € 52 PT based on DCF.

You can download the research here:
http://www.more-ir.de/d/29415.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. ++++++++++

-------------------transmitted by EQS Group AG.-------------------

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.

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 2024e 2025e
Sales1 64,86 78,56 105,08 116,79 117,99 106,00 120,00
EBITDA1,2 9,55 11,43 17,00 19,18 20,22 13,00 18,00
EBITDA-Margin3 14,72 14,55 16,18 16,42 17,14 12,26 15,00
EBIT1,4 6,43 7,97 12,99 15,08 15,43 8,20 13,00
EBIT-Margin5 9,91 10,15 12,36 12,91 13,08 7,74 10,83
Net Profit (Loss)1 4,30 5,18 9,52 9,95 10,53 5,20 7,30
Net-Margin6 6,63 6,59 9,06 8,52 8,92 4,91 6,08
Cashflow1,7 3,56 6,37 17,83 9,68 3,17 0,00 0,00
Earnings per share8 0,87 0,83 1,37 1,26 1,47 0,77 1,10
Dividend per share8 0,00 0,00 0,00 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: 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 137,03 Mio € 02.07.2007 Kaufen 9F5FHPV5+7C
* * *
PE 2026e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
13,93 22,50 0,62 18,16 1,35 43,28 1,16
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
0,00 0,00 0,00 0,00%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
08.07.2025 31.05.2024 19.08.2024 29.11.2024 22.05.2024
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
-2,34%
20,90 €
ATH 56,40 €
+15,53% -10,88% +18,75% -38,89% +103,90%

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