Original-Research: Verve Group SE (von First Berlin Equity Research GmbH): Kaufen
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Original-Research: Verve Group SE - from First Berlin Equity Research GmbH
Classification of First Berlin Equity Research GmbH to Verve Group SE
First Berlin Equity Research hat ein Research Update zu Verve Group SE (ISIN: SE0018538068) veröffentlicht. Analyst Ellis Acklin bestätigt seine BUY-Empfehlung und bestätigt sein Kursziel von EUR 4,50. Zusammenfassung: Die vorläufigen Ergebnisse für Q4 entsprachen weitgehend unseren Prognosen und dem Konsens. Nach einer Pause von zwei Quartalen kehrte das Umsatzwachstum zurück, und die Bruttomarge verbesserte sich, was vor allem auf die Vereinheitlichung der Plattformen zurückzuführen ist. Das Management gab auch eine erste Prognose für 2026 ab, in der ein Umsatz von €680 Mio. bis €730 Mio. und ein AEBITDA von €145 Mio. bis €175 Mio. erwartet werden. Die Umsatzspanne deutet auf Marktanteilsgewinne in einem digitalen Werbemarkt hin, für den in diesem Jahr ein Wachstum von etwa 10% bis 13% erwartet wird. Unserer Ansicht nach erscheint die Gewinnprognose konservativ und lässt Spielraum für eine Outperformance. Wir werden unsere Schätzungen für 2026 im Zusammenhang mit der Veröffentlichung der geprüften Zahlen für 2025 am 19. Februar überprüfen und aktualisieren. Unsere Empfehlung bleibt Kaufen mit einem unveränderten Kursziel von €4,50 (Aufwärtspotenzial: 174%). First Berlin Equity Research has published a research update on Verve Group SE (ISIN: SE0018538068). Analyst Ellis Acklin reiterated his BUY rating and maintained his EUR 4.50 price target. Abstract: Q4 prelims were broadly in line with our forecasts and consensus. Topline growth returned after a two-quarter pause, and the gross margin showed improvement, thanks mainly to the platform unifications. Management also gave initial guidance for 2026 calling for sales of €680m to €730m and AEBITDA of €145m to €175m. The topline range implies market share gains in a digital ad market that is widely expected to grow around 10% to 13% this year. In our view, the earnings guide looks conservative but leaves headroom for outperformance. We will review and update our 2026 forecasts in conjunction with publication of the audited 2025 numbers on 19 February. Our rating remains Buy with an unchanged €4.5 target price (upside: 174%). Bezüglich der Pflichtangaben gem. §34b WpHG und des Haftungsausschlusses siehe die vollständige Analyse. You can download the research here: VRV_GR-2026-01-28_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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2267546 28.01.2026 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 | 140,22 | 252,17 | 324,44 | 321,98 | 437,01 | 550,90 | 0,00 | |
| EBITDA1,2 | 26,55 | 65,04 | 84,75 | 128,46 | 128,52 | 121,60 | 0,00 | |
| EBITDA-Margin3 | 18,94 | 25,79 | 26,12 | 39,90 | 29,41 | 22,07 | 0,00 | |
| EBIT1,4 | 11,04 | 36,80 | 26,62 | 99,00 | 90,28 | 71,00 | 0,00 | |
| EBIT-Margin5 | 7,87 | 14,59 | 8,21 | 30,75 | 20,66 | 12,89 | 0,00 | |
| Net Profit (Loss)1 | 2,71 | 16,06 | -20,41 | 46,22 | 28,81 | 7,00 | 0,00 | |
| Net-Margin6 | 1,93 | 6,37 | -6,29 | 14,36 | 6,59 | 1,27 | 0,00 | |
| Cashflow1,7 | 25,20 | 64,84 | 134,22 | 69,45 | 136,99 | 62,00 | 0,00 | |
| Earnings per share8 | 0,03 | 0,11 | -0,12 | 0,03 | 0,14 | 0,03 | 0,14 | |
| 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: Deloitte
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 | ||||||
| Verve Group | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| A3D3A1 | SE0018538068 | SE | 334,20 Mio € | Kaufen | 9FFW83PF+F9 | |
| PE 2027e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 8,35 | 26,56 | 0,31 | 29,82 | 0,70 | 2,44 | 0,61 |
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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 |
| 13.05.2026 | 20.05.2026 | 18.08.2026 | 23.11.2026 | 19.02.2026 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -8,27% | -32,05% | -5,11% | -45,34% | +43,97% |
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