BUY
Original-Research: Multitude SE - von NuWays AG
Einstufung von NuWays AG zu Multitude SE
Unternehmen: Multitude SE
ISIN: FI4000106299
Anlass der Studie: Update
Empfehlung: BUY
seit: 14.02.2024
Kursziel: 10.00
Kursziel auf Sicht von: 12 Monaten
Letzte Ratingänderung:
Analyst: Frederik Jarchow
With full speed into 2024
After two years of delivering significant EBIT growth, we expect Multitude to continue on its growth path and remain on track to meet the new guidance for FY26 of € 30m net income. Here is why:
Demand for loans to remain undebatable high. According to a survey of EY, consumer loans and corporate loans in the Eurozone grew by 1.6% and 5.5% in FY23 and are expected to grow by 1.9% and 2.7% in FY24. We expect numbers to be even higher in Multitude´s niche within these verticals (near prime consumer loans (ferratum) and SME loans (CapitalBox)). Consequently, Multitude´s net loan book (NAR) should continue to grow to € 605m in FY24 (eNuW).
Risks are well under control: Being very restrictive and selective,
Multitude is granting only 10% of loan applications. That paired with the
strategic shift towards premium loans has reduced impaired loan coverage
ratio to 30% a few years ago. We expect this trend to continue
in FY24 (eNuW:
Die vollständige Analyse können Sie hier downloaden:
http://www.more-ir.de/d/28877.pdf
Die Analyse oder weiterführende Informationen zu dieser können Sie hier downloaden
www.nuways-ag.com/research.
Kontakt für Rückfragen
Die Analyse oder weiterführende Informationen zu dieser können Sie hier downloaden
www.nuways-ag.com/research.
Kontakt für Rückfragen
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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Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.
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