BUY
Original-Research: Multitude SE - from NuWays AG
Classification of NuWays AG to Multitude SE
Company Name: Multitude SE
ISIN: FI4000106299
Reason for the research: Update
Recommendation: BUY
from: 06.03.2024
Target price: 10.00
Target price on sight of: 12 Monaten
Last rating change:
Analyst: Frederik Jarchow
Small value-accretive acquisition through CapitalBox; chg
Yesterday, Multitude announced to have acquired the Danish factoring specialist Omniveta Finance through its SME unit CapitalBox. Last week, CapitalBox also launched a new collateral lending product. In detail:
Value-accretive acquisition. Founded in 2012, Omniveta is a factoring
specialist, that is purchasing invoices (eNuW: on avg. 30 days credit
period) from suppliers with a certain discount (eNuW: 10-20%, including
handling fees). With that, Omniveta is improving the overall liquidity of
Danish SME´s. We expect that the company is generating a low single digit
million Euro amount in sales and being more or less break-even on the
bottom line. Multitude is seen to have paid
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