Original-Research: SYNBIOTIC SE (von NuWays AG): BUY
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Original-Research: SYNBIOTIC SE - from NuWays AG
Classification of NuWays AG to SYNBIOTIC SE
Additional capital to support strategic realignment; chg. PT Recent developments at SYNBIOTIC have sharpened the company’s strategic realignment. Acombination of additional equity financing, a portfolio consolidation and a new strategic investorshould help to make the equity story more robust going forward, in our view. Portfolio “clean up”. SYNBIOTIC discontinued financial support for its Austrian subsidiaryBushdoctor GmbH, which subsequently filed for insolvency. The decision followed an internal reviewof the subsidiary’s operational and financial performance, revealing it was no longer aligned with thegroup’s strategic priorities. As a result, SYNBIOTIC has effectively removed a loss-making, non-corebusiness from its portfolio, reducing cash outflows and allowing management to concentrate resources on higher-potential areas such as medical cannabis and industrial hemp. Additional equity. SYNBIOTIC executed two small cash capital increases without subscriptionrights, issuing a total of 387k new shares at prices of € 1.60 and € 1.70, raising gross proceeds of upto € 0.64m. The resulting dilution stands at roughly 5%. The capital will be used to support growthinitiatives, including product development and operational execution across the group’s coresegments. Strategic investor entry. As part of one of those capital increases, SYNBIOTIC secured an anchorinvestment from CANSOUL, a specialised equity fund investing across the entire global value chainof the hemp and cannabis industry. Its holistic investment approach covers cultivation, research,technology, extraction and distribution through to pharmaceutical development. Importantly, this dealinitiates a long-term strategic partnership (e.g. access to further capital, CANASOUL’s network),highlighting the strength and appeal of SYNBIOTIC’s diversified platform. Our view: Overall, the recent measures represent tangible progress in stabilising SYNBIOTIC’sfinancial and strategic positioning. The recent FY25 guidance cut reflects the currently challengingregulatory situation within the company’s key end market. Following this year’s strategic realignment,SYNBIOTIC should be able to return to higher growth from next year onwards (carried by medicalcannabis and industrial hemp), in our view. Until FY27e, we model € 25m sales, implying a 16%CAGR. With that, SYNBIOTIC should be able to return to profitability as early as FY26e. BUY with a € 5.50 PT (old: € 6.00) based on DCF You can download the research here: synbiotic-se-2025-12-19-update-en-b7fb5 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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2249106 19.12.2025 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 | ||||||||
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025e | 2026e | ||
| Sales1 | 5,45 | 8,65 | 8,17 | 3,86 | 16,00 | 17,00 | 22,00 | |
| EBITDA1,2 | -0,71 | -4,83 | -7,41 | -7,19 | -2,90 | -1,95 | 0,00 | |
| EBITDA-Margin3 | -13,03 | -55,84 | -90,70 | -186,27 | -18,13 | -11,47 | 0,00 | |
| EBIT1,4 | -0,83 | -11,49 | -25,92 | -11,75 | -3,55 | -1,20 | 0,00 | |
| EBIT-Margin5 | -15,23 | -132,83 | -317,26 | -304,40 | -22,19 | -7,06 | 0,00 | |
| Net Profit (Loss)1 | -0,88 | -13,07 | -26,00 | -11,74 | -2,40 | -1,50 | 0,00 | |
| Net-Margin6 | -16,15 | -151,10 | -318,24 | -304,15 | -15,00 | -8,82 | 0,00 | |
| Cashflow1,7 | -1,26 | -5,14 | -6,99 | -2,92 | -2,40 | -0,70 | 0,00 | |
| Earnings per share8 | -0,56 | -4,15 | -5,97 | -2,25 | -0,35 | -0,22 | 0,09 | |
| 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: Forvis Mazars
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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| SynBiotic | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| A3E5A5 | DE000A3E5A59 | SE | 18,03 Mio € | 11.11.2019 | Halten | 9F387R32+8V |
| PE 2027e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 14,59 | 27,56 | 0,53 | -0,93 | 0,56 | -6,17 | 4,67 |
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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 |
| 20.09.2024 | 30.09.2024 | 14.08.2024 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -0,96% | -14,66% | -10,82% | -42,45% | +156,84% |
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