Original-Research: Cantourage Group SE (von NuWays AG): BUY
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Original-Research: Cantourage Group SE - from NuWays AG
Classification of NuWays AG to Cantourage Group SE
Growth further accelerating, € 100m sales in reach; chg. April turned out to be yet another record month with sales having reached € 11.1m, a yoy increase of roughly 250%, surpassing the previous record month March (€ 10.7m). This increase should largely be the result of successful de-bottlenecking efforts on Cantourage’s side during the past few months, which began positively impacting the group's top-line from last month onwards. With strongly growing demand, the company has been working on raising its processing capacities at its German site as well as through partnerships (e.g. with a Portuguese contract manufacturer). € 100m annual sales in sight. While management has so far not issued a FY25 guidance, we would expect it to point towards the € 100m sales level, in line with our new sales estimate. Reaching € 100m sales would require monthly sales of some € 8m, which looks achievable in light of the recent operating developments. Scale to kick in. While the company did not announce profitability figures, the strong sales growth should feed down to EBITDA. Taking into account last year's margin (eNuW: 7.5%) and the operating developments since the start of the year, the FY25 EBITDA margin looks set to surpass 10% despite ongoing investments into growth. Share price de-coupled from fundamentals. Despite expected FY25e sales growth of 94% yoy, Cantourage should be able to reach a 10% EBITDA margin, implying an attractive EV/EBITDA multiple of 5.8x. We confirm our BUY rating with a € 13 PT based on DCF. You can download the research here: http://www.more-ir.de/d/32648.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. ++++++++++
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2139996 19.05.2025 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 | 0,00 | 0,53 | 5,22 | 14,16 | 23,56 | 51,40 | 100,00 | |
| EBITDA1,2 | 0,00 | -0,56 | -0,83 | -2,51 | -0,25 | 4,00 | 10,00 | |
| EBITDA-Margin3 | 0,00 | -105,66 | -15,90 | -17,73 | -1,06 | 7,78 | 10,00 | |
| EBIT1,4 | 0,00 | -0,59 | -0,97 | -6,32 | -4,33 | -0,20 | 6,00 | |
| EBIT-Margin5 | 0,00 | -111,32 | -18,58 | -44,63 | -18,38 | -0,39 | 6,00 | |
| Net Profit (Loss)1 | 0,00 | -0,59 | -0,97 | -5,92 | 4,27 | -0,30 | 4,00 | |
| Net-Margin6 | 0,00 | -111,32 | -18,58 | -41,81 | 18,12 | -0,58 | 4,00 | |
| Cashflow1,7 | 0,00 | -0,56 | -0,83 | -2,11 | -0,20 | 2,80 | 6,00 | |
| Earnings per share8 | 0,00 | -0,05 | -0,08 | -0,47 | -0,34 | -0,02 | 0,32 | |
| 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: PKF Wulf Gruppe
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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| Cantourage Group | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| A3DSV0 | DE000A3DSV01 | SE | 37,15 Mio € | 11.11.2022 | Kaufen | 9F4MF9M4+93 |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 7,84 | 9,31 | 0,84 | -29,80 | 0,93 | -45,03 | 0,72 |
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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 |
| 25.06.2025 | 20.05.2025 | 10.07.2025 | 07.11.2024 | 06.06.2024 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -6,85% | -31,24% | -41,57% | -29,38% | -54,01% |
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