Reported Earnings • Aug 19
First half 2023 earnings released: €0.24 loss per share (vs €0.04 profit in 1H 2022) First half 2023 results: €0.24 loss per share (down from €0.04 profit in 1H 2022). Revenue: €12.5m (up 12% from 1H 2022). Net loss: €555.0k (down €658.2k from profit in 1H 2022). New Risk • Aug 17
New major risk - Revenue and earnings growth Earnings have declined by 19% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 19% per year over the past 5 years. Market cap is less than US$10m (€6.74m market cap, or US$7.33m). Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to €3.76, the stock trades at a trailing P/E ratio of 42.4x. Average forward P/E is 22x in the Tech industry in Europe. Total loss to shareholders of 40% over the past year. Buying Opportunity • Apr 15
Now 22% undervalued Over the last 90 days, the stock is up 5.2%. The fair value is estimated to be €6.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 7.8%. 공시 • Oct 26
Secanda AG (DB:SC8) acquired Schomäcker GmbH. Secanda AG (DB:SC8) acquired Schomäcker GmbH on October 25, 2022.
Secanda AG (DB:SC8) completed the acquisition of Schomäcker GmbH on October 25, 2022. Buying Opportunity • Sep 05
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be €6.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 7.8%. Price Target Changed • Aug 04
Price target decreased to €9.70 Down from €10.80, the current price target is provided by 1 analyst. New target price is 50% above last closing price of €6.45. Stock is down 14% over the past year. The company posted earnings per share of €0.13 last year. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment improved over the past week After last week's 16% share price gain to €6.40, the stock trades at a trailing P/E ratio of 42.5x. Average forward P/E is 25x in the Tech industry in Europe. Total loss to shareholders of 15% over the past year. 공시 • Jul 07
InterCard AG Informationssysteme (DB:II8) acquired MADSENSE S.L. InterCard AG Informationssysteme (DB:II8) acquired MADSENSE S.L. on July 6, 2022. At the same time of acquisition, the InterCard is renamed SECANDA. Following the change of name from InterCard AG Informationssysteme to SECANDA AG, all new international locations as well as our subsidiary InterCard GmbH Kartensysteme will also be given the name SECANDA and thus the name of the new system in further steps.InterCard AG Informationssysteme (DB:II8) completed the acquisition of MADSENSE S.L. on July 6, 2022. Reported Earnings • Apr 29
Full year 2021 earnings released Full year 2021 results: Revenue: €23.9m (up 14% from FY 2020). Net income: €306.0k (down 43% from FY 2020). Profit margin: 1.3% (down from 2.5% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 6.4%, compared to a 3.5% growth forecast for the industry in Germany. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improved over the past week After last week's 16% share price gain to €7.75, the stock trades at a trailing P/E ratio of 27.1x. Average trailing P/E is 25x in the Tech industry in Europe.