Schweizer Electronic AG (von Montega AG): Buy

Original research: Schweizer Electronic AG – von Montega AG

19.08.2024 / 18:05 Central European Time/Central European Time
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Installation of Montega AG at Schweizer Electronic AG

Part: Schweizer Electronic AG ISIN: DE0005156236

Analysis of the study: Update
Recommendation: Buy
date: 19.08.2024
Course price: 8.00 EUR
Kursziel auf Sicht von: 12 Monaten
Last review change: –
Analyst: Miguel Lago Mascato

H1-Message: Two Years of Expiration to Promote Profitability

Schweizer Electronic Hat has clarified the H1 advice, which allows all communication organizations to best and better deal with the schwache situation that makes the power clear. Actions are taken to ensure that external orders are guided by the guidance for these years. This is unfortunate, the Free Cashflow Entwicklung in H1 is joyfully improved.

(Table)

Konjunkturschwäche gut an Auftragsentwicklung abzulesen: With the H1-Mericht bestätigte of the Konzern that were prepared on 12. July communizierte Umsatzmarke of 74 Mio. EUR. The EBITDA ranges from 0 to 1 million. EUR erwartet wurde, lay am unteren der Spanne. Modern Schweizer Electronics and the details of the Auftragsentwicklung after 6M, which means that the current Schweizer in the automotive sector and the entire Konjunkturschwäche of the German Industry have become visible. So be informed here of Verschiebungen und Stornierungen van Kundenbestellungen 24,4 Mio. EUR in Buche (H1/23: EUR 103.7 million). The order book has found a stabilizer (EUR 213.0 million; YTD: EUR 251.3 million), while in the quarter it is analogous to the access to the inputs.

German-language Free Cashflow Development ggü. Previous: I have a 6M-zeitraum generated Schweizer Electronic a free cash flow of 2.4 million. EUR (H1/23: 0.5 million EUR). Demnach SCE generated in Q2 a FCF of 3.6 million. EUR, was a German Increase ggü. the annual supply (-0.8 million EUR) and the previous year (2.1 million EUR) entspricht. Before the reduction in working capital amounts to 5.7 million. EUR back here. For fiscal year 2024, the position was a NWC of 20 to 24 million. EUR. The action amounts to 14.4 million. EUR (31.12.2023: 20.1 million EUR), soft drinks will be significantly improved. Cash flow conversion in smaller WC production is forecast in 2024.

The band width has come to an end: With the previous H1 numbers, the board had corrected and now confirmed the FY guidance on achievements. War man who has been starting for a few years, the end of the global expansion of the series embedding technology and the strong trading position that exists, the management will now take a step further in the nachfrage- en Auftrags situation if there is an end to the end creditworthiness has. The H1 performance implies a large amount of money with 2 to 5 million. EUR EBITDA was increased to 140 million. EUR allocation of a margin of 2.9% to 7.4% for H2 revenue (MONE: 3.6%).

Conclusion: Schweizer is in a redeveloped market field thanks to Fab-Light-Strategy and self-built Embedding-Technology that has long been positioned in the right direction. The short-term forecast of the Aktie is no longer active if the economic cycles have no effect. We confirm our purchase request and the short-term forecast (8.00 EUR).

+++ This notification is not a single notification or order of the best coupon. Bitte lesen Sie unseren RISIKOHINWEIS / HAFTUNGSAUSSCHLUSS under http://www.montega.de +++

About Montega:

Montega AG is one of the emerging banks that have connected research centers with clear sources to the German SME. The coverage of the universal universal title comes from MDAX, TecDAX, SDAX and offers new opportunities and has become longer and longer due to the wrong stock selection. Montega has specialized in research for institutional investors and focuses on the creation of research publications that provide the presentation of road shows, excursions and conferences. You can also find long-awaited orientation on Value Investors, Vermögensverwalter and Family Offices, mainly in Germany, Switzerland and Luxembourg. Montega analysts look for excellent contacts with top management, in-depth market knowledge and slow analyses of German small and mid-cap companies.

The full analysis can be downloaded here:
http://www.more-ir.de/d/30555.pdf

Contact us for questions:
Montega AG – Equity Research
Phone: +49 (0)40 41111 37-80
Website: www.montega.de
Email address: [email protected]
LinkedIn: https://www.linkedin.com/company/montega-ag

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1970843 19.08.2024 Central European Time/Central European Time

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