Buy
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Original-Research: Beaconsmind AG - from First Berlin Equity Research GmbH
Classification of First Berlin Equity Research GmbH to Beaconsmind AG
First Berlin Equity Research has published a research update on beaconsmind AG (ISIN: CH0451123589). Analyst Christian Orquera reiterated his BUY rating and increased the price target from EUR 14.00 to EUR 14.50. Abstract: beaconsmind has published its financial results for H1 2024, which were in line with our projections after adjusting for exceptional costs. The company reported revenues of CHF5.9m (FBe: CHF6.1m) and adjusted EBITDA of CHF1.1m (FBe: CHF1.1m). These figures were adjusted by €550k in one-off costs in connection with M&A, restructuring and change of strategy. Importantly, on the back of these good results, beaconsmind is on track to achieve positive EBITDA, net income and free cash flow in 2024 in line with its financial guidance. The recently announced contracts with new clients give us confidence in management's ability to meet its targets for 2024. Following the publication of H1/24 results, we have updated our DCF-model and arrive at a slightly higher price target of €14.50 (previously: €14.00). We reiterate our Buy recommendation. First Berlin Equity Research hat ein Research Update zu beaconsmind AG (ISIN: CH0451123589) veröffentlicht. Analyst Christian Orquera bestätigt seine BUY-Empfehlung und erhöht das Kursziel von EUR 14,00 auf EUR 14,50. Zusammenfassung: beaconsmind hat seine Finanzergebnisse für das erste Halbjahr 2024 veröffentlicht, die nach Bereinigung um ausserordentliche Kosten unseren Prognosen entsprachen. Das Unternehmen meldete einen Umsatz von CHF5,9 Mio. (FBe: CHF6,1 Mio.) und ein bereinigtes EBITDA von CHF1,1 Mio. (FBe: CHF1,1 Mio.). Diese Zahlen wurden um einmalige Kosten in Höhe von €550 Tausend im Zusammenhang mit Fusionen und Übernahmen, Umstrukturierungen und Strategieänderungen bereinigt. Aufgrund dieser guten Ergebnisse ist beaconsmind auf dem besten Weg, im Jahr 2024 ein positives EBITDA, einen positiven Nettogewinn und einen positiven Free Cashflow zu erzielen, was im Einklang mit der Finanzprognose steht. Die kürzlich angekündigten Verträge mit neuen Kunden stimmen uns zuversichtlich, dass das Management seine Ziele für 2024 erreichen kann. Nach der Veröffentlichung der H1/24-Ergebnisse haben wir unser DCF-Modell aktualisiert und kommen zu einem leicht erhöhten Kursziel von €14,50 (zuvor: €14,00). Wir bekräftigen unsere Kaufempfehlung. Bezüglich der Pflichtangaben gem. §85 Abs. 1 S. 1 WpHG und des Haftungsausschlusses siehe die vollständige Analyse. You can download the research here: http://www.more-ir.de/d/31081.pdf 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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2012597 21.10.2024 CET/CEST
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