Original-Research: M1 Kliniken AG (von First Berlin Equity Research GmbH): Kaufen
Original-Research: M1 Kliniken AG - from First Berlin Equity Research GmbH
Classification of First Berlin Equity Research GmbH to M1 Kliniken AG
Company Name: M1 Kliniken AG
ISIN: DE000A0STSQ8
Reason for the research: Update
Recommendation: Kaufen
from: 26.03.2024
Target price: €18
Target price on sight of: 12 Monate
Last rating change: -
Analyst: Ellis Acklin
First Berlin Equity Research hat ein Research Update zu M1 Kliniken AG (ISIN: DE000A0STSQ8) veröffentlicht. Analyst Ellis Acklin bestätigt seine BUY-Empfehlung und erhöht das Kursziel von EUR 13,20 auf EUR 18,00.
Zusammenfassung:
Wir bekräftigen unsere Kaufempfehlung für die M1 Kliniken AG (M1) und
erhöhen unser Kursziel auf €18 (zuvor: €13,20). Unserer Ansicht nach sind
die Wachstumsaussichten des Unternehmens hervorragend. M1 war ein
Early-Mover im deutschen Lifestyle- und Beauty-Markt und schmiedete ein
disruptives Netzwerk von Markenkliniken (JE23: 58 Standorte) für
kosmetische Behandlungen, das sich mittlerweile über Kontinentaleuropa,
Großbritannien und Australien erstreckt und auch Amerika im Visier hat. Die
Expansion von M1 zieht nun das Interesse von Private Equity an. M1 hat
erfahren, dass bei Transaktionen in der Schönheitsbranche Multiplikatoren
von bis zu 30x EBITDA erzielt wurden. Die M1-Aktie ist seit der Ankündigung
gestiegen, und wir gehen davon aus, dass die gute Geschäftsdynamik in
diesem Jahr für weiteren Auftrieb sorgen wird.
First Berlin Equity Research has published a research update on M1 Kliniken AG (ISIN: DE000A0STSQ8). Analyst Ellis Acklin reiterated his BUY rating and increased the price target from EUR 13.20 to EUR 18.00.
Abstract:
We reiterate our Buy rating on M1 Kliniken AG (M1) and raise our TP to €18
(old: €13.2). In our view, the company's growth prospects are excellent. M1
was an early mover in Germany's lifestyle and beauty market and forged a
disruptive network of branded clinics (YE23: 58 locations) for cosmetic
treatments that now spans continental Europe, the UK, and Australia with
sights set on America. M1's expansion is now drawing private equity
interest. M1 brass have been informed that transactions in the beauty
sector have fetched multiples of up to 30x EBITDA. M1 shares caught a bid
on the announcement, and we expect good business momentum this year to
stoke further upside.
Bezüglich der Pflichtangaben gem. §34b WpHG und des Haftungsausschlusses siehe die vollständige Analyse.
You can download the research here:
http://www.more-ir.de/d/29251.pdf
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
-------------------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 | ||||||||
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024e | ||
| Sales1 | 65,21 | 77,27 | 159,59 | 314,61 | 285,29 | 316,32 | 350,00 | |
| EBITDA1,2 | 7,17 | 11,33 | 8,89 | 17,82 | 15,41 | 21,01 | 31,00 | |
| EBITDA-Margin3 | 11,00 | 14,66 | 5,57 | 5,66 | 5,40 | 6,64 | 8,86 | |
| EBIT1,4 | 6,46 | 7,93 | 4,41 | 12,13 | 9,35 | 15,70 | 26,70 | |
| EBIT-Margin5 | 9,91 | 10,26 | 2,76 | 3,86 | 3,28 | 4,96 | 7,63 | |
| Net Profit (Loss)1 | 6,61 | 9,73 | 7,43 | 10,88 | 7,07 | 11,67 | 16,20 | |
| Net-Margin6 | 10,14 | 12,59 | 4,66 | 3,46 | 2,48 | 3,69 | 4,63 | |
| Cashflow1,7 | 2,86 | -5,37 | 9,54 | 15,68 | 20,77 | 7,81 | 11,00 | |
| Earnings per share8 | 0,39 | 0,56 | 0,37 | 0,45 | 0,22 | 0,54 | 0,78 | |
| Dividend per share8 | 0,30 | 0,00 | 0,00 | 0,00 | 0,00 | 0,50 | 0,30 | |
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: wetreu NTRG
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 | ||||||
| M1 Kliniken | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| A0STSQ | DE000A0STSQ8 | AG | 309,38 Mio € | 14.09.2015 | Kaufen | 9F4MCHV9+6R |
| PE 2025e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 16,94 | 26,66 | 0,64 | 36,63 | 3,11 | 39,62 | 0,98 |
|
Dividend '2022 in € |
Dividend '2023 in € |
Dividend '2024e in € |
Div.-Yield '2024e in % |
| 0,00 | 0,50 | 0,30 | 1,90% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 17.07.2024 | 06.06.2024 | 03.09.2024 | 19.11.2024 | 23.05.2024 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -4,98% | -3,55% | +40,63% | +46,51% | +235,11% |
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