Original-Research: EV Digital Invest AG (von NuWays AG): Kaufen
Original-Research: EV Digital Invest AG - from NuWays AG
Classification of NuWays AG to EV Digital Invest AG
Company Name: EV Digital Invest AG
ISIN: DE000A3DD6W5
Reason for the research: Update
Recommendation: Kaufen
from: 28.05.2024
Target price: EUR 3.60
Target price on sight of: 12 Monaten
Last rating change:
Analyst: Frederik Jarchow
Strategic partnership to unlock renewable energy projects
Topic: EVDI announced to have entered a strategic partnership with Green FOX Energy – a project developer and owner of renewable energy plants. The cooperation enables EVDI to offer direct investments into renewable energy projects to its customers via its platform. In detail:
With this cooperation, EVDI is further expanding its product range of “Engel & Völkers Digital Invest” that is currently comprising real-estate investments into residential, office and logistics. The added green investment opportunities not only give investors the opportunity to diversify their investments even more broadly, but also to directly participate from the transformation of the energy infrastructure. The offered projects should allow low minimum investments of € 100 and rather short terms of only 12 months.
In our view, the partnership should bode well for EVDI as 1) renewable energy is one of the current megatrends showing a steep growth trajectory, 2) it should further diversify the business by reducing the dependency from the developments in the real-estate sector and 3) it should attract new target investor groups. Even better, operational EVDI can build on its established two-stage review process (internal and external analysis by renowned experts) used for real-estate projects. As a result, the first solar project (“Solarpark Eyendorf”) is already available on the platform.
Going forward, we expect more renewable projects to follow as Green FOX Energy´s project pipeline is well filled with around 2GW peak and the demand for electricity generation from renewable energy sources is expected to increase by more than 60% until 2026 (according to the IEA).
In light of the promising strategic partnership with Green FOX Energy, paired with first signs of revitalization of the real-estate market mainly stemming from the anticipated reduction of interest rates, EVDI should easily achieve its conservative guidance of € 4.9-5.8m in op. income (vs eNuW: € 5.6m) and up to € -1.9m EBITDA, (eNuW: € -2m). While we see the growth potential arising from the partnership, we play it safe, leaving our estimates unchanged for now.
BUY on valuation with an unchanged PT of € 3.60, based on DCF.
You can download the research here:
http://www.more-ir.de/d/29921.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
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Offenlegung möglicher Interessenskonflikte nach § 85 WpHG beim oben analysierten Unternehmen befinden sich in der vollständigen Analyse.
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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 | 0,66 | 1,73 | 3,12 | 4,37 | 5,20 | 4,14 | 2,55 | |
| EBITDA1,2 | -0,68 | -1,04 | -0,99 | 0,05 | -3,43 | -3,69 | -3,90 | |
| EBITDA-Margin3 | -103,03 | -60,12 | -31,73 | 1,14 | -65,96 | -89,13 | -152,94 | |
| EBIT1,4 | -0,82 | -1,06 | -1,02 | 0,03 | -3,45 | -3,70 | -3,80 | |
| EBIT-Margin5 | -124,24 | -61,27 | -32,69 | 0,69 | -66,35 | -89,37 | -149,02 | |
| Net Profit (Loss)1 | -0,70 | -1,23 | -1,20 | 0,04 | -3,32 | -3,69 | -4,40 | |
| Net-Margin6 | -106,06 | -71,10 | -38,46 | 0,92 | -63,85 | -89,13 | -172,55 | |
| Cashflow1,7 | -0,70 | -0,63 | -1,28 | -0,21 | -7,18 | -2,13 | 0,00 | |
| Earnings per share8 | -0,18 | -0,28 | -0,27 | 0,01 | -0,75 | -0,78 | -0,98 | |
| 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: Baker Tilly
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 | ||||||
| EV Digital Invest | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| A3DD6W | DE000A3DD6W5 | AG | 3,80 Mio € | 03.05.2022 | 9F4MG83J+38 | |
| PE 2025e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 0,00 | 0,00 | 0,00 | -2,04 | 1,61 | -1,78 | 0,92 |
|
Dividend '2022 in € |
Dividend '2023 in € |
Dividend '2024e in € |
Div.-Yield '2024e in % |
| 0,00 | 0,00 | 0,00 | 0,00% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 04.06.2024 | 31.10.2024 | 17.04.2024 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -15,98% | -49,97% | -79,95% | -81,42% | -94,21% |
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