Original-Research: MPH Health Care AG (von First Berlin Equity Research GmbH): Kaufen
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Original-Research: MPH Health Care AG - from First Berlin Equity Research GmbH
Classification of First Berlin Equity Research GmbH to MPH Health Care AG
First Berlin Equity Research hat ein Research Update zu MPH Health Care AG (ISIN: DE000A289V03) veröffentlicht. Analyst Ellis Acklin bestätigt seine BUY-Empfehlung und bestätigt sein Kursziel von EUR 37,00. Zusammenfassung: Der NAV sank in den ersten neun Monaten um rund 30% auf €194 Mio., was in erster Linie auf den starken Wertverlust der im ersten Halbjahr 2025 verbuchten Beteiligung an CR Energy zurückzuführen ist. Im Septemberquartal war der NAV stabiler (-5%). Die Portfolio-Performance von MPH wird nun ausschließlich von der Kerninvestition in M1 Kliniken bestimmt, die weiterhin gute Quartalsergebnisse mit solidem Wachstum und Margensteigerungen vorweisen kann. Vorbehaltlich der behördlichen Genehmigung plant die Haemato AG (85% M1-Beteiligung) den Verkauf des Handelsgeschäfts ihrer Tochtergesellschaft Haemato Pharm GmbH. Wir gehen davon aus, dass die Anleger die stärkere Fokussierung von M1 auf sein erfolgreiches Injectables-Geschäft begrüßen werden, und sehen diese Umstrukturierung als positiven Katalysator für die M1-Aktie sowie als Steigerung des NAV für MPH. Wir behalten unsere Kaufempfehlung und unser Kursziel von €37 (Aufwärtspotenzial: 111%) bei. First Berlin Equity Research has published a research update on MPH Health Care AG (ISIN: DE000A289V03). Analyst Ellis Acklin reiterated his BUY rating and maintained his EUR 37.00 price target. Abstract: NAV fell some 30% during the first nine months to €194m owing, chiefly to the sharp decline in the value of the CR Energy participation booked in H1/25. For the September quarter, NAV was more stable (-5%). MPH's portfolio performance will now be shaped solely by the core investment in M1 Kliniken, which continues to stack good quarterly results featuring solid growth and margin uplift. Pending regulatory approval, Haemato AG (85% M1 stake) plans to sell the trading operations run by its Haemato Pharm GmbH subsidiary. We think investors will welcome M1's sharpened focus on its successful injectables business, and we see this shake up as a good catalyst for M1 shares as well as NAV uplift for MPH. We stick to our Buy rating and €37 target price (upside: 111%). Bezüglich der Pflichtangaben gem. §34b WpHG und des Haftungsausschlusses siehe die vollständige Analyse. You can download the research here: 93M1_GR-2025-11-21_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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2234252 21.11.2025 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 | 41,22 | 3,43 | 13,55 | 30,67 | 34,46 | 65,37 | 0,00 | |
| EBITDA1,2 | 11,59 | -70,99 | -9,05 | 29,59 | 29,54 | 32,99 | 0,00 | |
| EBITDA-Margin3 | 28,12 | -2.069,68 | -66,79 | 96,48 | 85,72 | 50,47 | 0,00 | |
| EBIT1,4 | 11,58 | -71,02 | -9,07 | 29,56 | 30,21 | 32,96 | 0,00 | |
| EBIT-Margin5 | 28,09 | -2.070,55 | -66,94 | 96,38 | 87,67 | 50,42 | 0,00 | |
| Net Profit (Loss)1 | 11,08 | -70,38 | -8,96 | 29,11 | 29,54 | 32,04 | 0,00 | |
| Net-Margin6 | 26,88 | -2.051,90 | -66,13 | 94,91 | 85,72 | 49,01 | 0,00 | |
| Cashflow1,7 | -1,35 | -2,89 | -1,09 | 0,01 | -2,02 | 1,83 | 0,00 | |
| Earnings per share8 | 2,60 | -16,44 | -2,09 | 6,80 | 6,90 | 7,48 | -6,90 | |
| Dividend per share8 | 0,00 | 0,00 | 0,00 | 0,00 | 1,20 | 1,20 | 1,20 | |
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 | ||||||
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| MPH Health Care | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| A289V0 | DE000A289V03 | AG | 99,76 Mio € | 01.09.2009 | Kaufen | 9F4MCHV9+6R |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 11,65 | 4,89 | 2,38 | 5,35 | 0,37 | 54,54 | 1,53 |
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Dividend '2023 in € |
Dividend '2024 in € |
Dividend '2025e in € |
Div.-Yield '2025e in % |
| 1,20 | 1,20 | 1,20 | 5,02% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 17.07.2025 | 12.06.2025 | 16.09.2025 | 20.11.2025 | 28.05.2025 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| +25,88% | +14,98% | +5,75% | -1,24% | +0,00% |
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