Price Target Changed • 16h
Price target increased by 11% to €10.80 Up from €9.70, the current price target is provided by 1 analyst. New target price is 89% above last closing price of €5.70. Stock is down 6.6% over the past year. The company posted earnings per share of €1.09 last year. Aankondiging • Apr 25
Multitude AG Approves Ordinary Dividend for the Financial Year 2025, Payable on May 4, 2026 Multitude AG at its Annual General Meeting held on April 24, 2026 approved an ordinary dividend of EUR 0.55 per share for the financial year 2025, with total available earnings of EUR 71,289,106. The dividend will be paid on May 4, 2026, to shareholders net of applicable withholding tax. The dividend record date is April 28, 2026. Aankondiging • Apr 23
Multitude Group Announces Executive Changes in Wholesale Banking Multitude AG announced that Wholesale Banking Tribe CEO Alain Nydegger had decided by mutual agreement to step down from his role effective April 30, 2026. Following the successful ramp-up of the business unit, Mr. Nydegger left at his own request to pursue entrepreneurial ventures outside of the Multitude Group. Multitude CEO Antti Kumpulainen, who was actively involved in the establishment of the Wholesale Banking business unit, assumed the responsibilities of Business unit CEO during the interim period and ensured continuity and a seamless transition until a successor was appointed. Aankondiging • Mar 27
Multitude AG, Annual General Meeting, Apr 24, 2026 Multitude AG, Annual General Meeting, Apr 24, 2026, at 10:00 W. Europe Standard Time. Location: brandschenkestrasse 24, 8027, zurich, Switzerland Aankondiging • Mar 26
Multitude AG Proposes Ordinary Dividend for Financial Year 2025, Payable on May 4, 2026 Multitude AG proposed an ordinary dividend distribution of EUR 0.55 per share (i.e. a total of EUR 11,776,677) for financial year 2025 at the AGM to be held on April 24, 2026. If the proposal is approved, the dividend will be paid on May 4, 2026 net of applicable withholding tax. Aankondiging • Mar 13
Multitude AG Provides Earnings Guidance for the Year 2026, 2027 and 2028 Multitude AG provided earnings guidance for the year 2026, 2027 and 2028. The Group’s capital markets guidance is based on consolidated net profit, targeting EUR 30 million in 2026 and 20% annual growth in 2027 and 2028. Price Target Changed • Dec 30
Price target increased by 11% to €10.80 Up from €9.70, the current price target is provided by 1 analyst. New target price is 83% above last closing price of €5.91. Stock is up 26% over the past year. The company posted earnings per share of €0.66 last year. Aankondiging • May 15
Multitude AG Approves Board and Committee Appointments Multitude AG announced that at its AGM held on 13 May 2025, the shareholders approved election of Mika Stahlberg as a new member of the Board of Directors, each one for a term until the closing of the next Annual General Meeting. Also, elected Lea Liigus as members of the People and Culture Committee. Aankondiging • Apr 04
Multitude AG announces Annual dividend, payable on May 16, 2025 Multitude AG announced Annual dividend of EUR 0.2400 per share payable on May 16, 2025, ex-date on May 14, 2025 and record date on May 15, 2025. Aankondiging • Jan 29
Multitude AG Announces Management Changes Multitude AG announced that Mr. Clemens Krause, Chief Risk Officer, will retire as of 31 March 2025, after serving the company since 2012. The Group thanks him for his exceptional contributions and wishes him a fulfilling retirement. Mr. Adam Jezierski will join the Leadership Team as Chief Credit Risk Officer on 3 February 2025 and succeed Mr. Krause. With extensive expertise in credit risk management, Mr. Jezierski is expected to strengthen the Group’s risk oversight capabilities. Leadership Departures – Mr. Lasse Mäkelä, Chief Strategy and IR Officer, is stepping down from the Leadership Team. Current Leadership Team of Multitude Group: The Leadership Team of Multitude Group now comprises: Mr. Antti Kumpulainen – CEO, Mr. Bernd Egger – Chief Financial Officer, Mr. Kristjan Kajakas – Tribe CEO, Ferratum, Mr. Mantvydas Stareika – Tribe CEO, CapitalBox, Mr. Alain Nydegger – Tribe CEO, Wholesale Banking, Mr. Adam Jezierski – Chief Credit Risk Officer, Mr. Kornel Kabele – Chief Technology Officer, Ms. Lea Liigus – Chief Legal & Compliance Officer, Mr. Adam Tönning – Chief Financial Planning Officer, and Mr. Shaun Vella – Chief HR Officer. Board of Directors Updates: Mr. Goutam Challagalla will step down on 1 February 2025. Mrs. Kristiina Leppänen will step down at the end of the 2025 Annual General Meeting (AGM). Both individuals will be proposed for election to the Board of Directors of Multitude Bank p.l.c., pending regulatory approval. Updated Composition of the Board of Directors of Multitude AG (as of 1 February 2025): Mr. Ari Tiukkanen – Chairman (Independent), Mrs. Marion Khüny – Independent Member, Mrs. Kristiina Leppänen – Independent Member, Mr. Jorma Jokela – Non-Independent Member, and Mrs. Lea Liigus – Executive Director, Non-Independent. Aankondiging • Jan 28
Multitude AG Announces CEO Changes Multitude AG effective 1 January 2025, Mr. Antti Kumpulainen has assumed the role of CEO of Multitude Group, in addition to his existing position as CEO of Multitude Bank p.l.c. As previously announced, Mr. Jorma Jokela stepped down as CEO and Leadership Team member at the end of 2024. Moving forward, he will focus on strategic initiatives, partnerships, acquisitions, and talent development in a full-time capacity. Mr. Jokela will also continue to serve on the Board of Directors of both Multitude AG and Multitude Bank p.l.c. New Risk • Nov 12
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €92.2m (US$97.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (56% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.7% average weekly change). Market cap is less than US$100m (€92.2m market cap, or US$97.9m). Price Target Changed • Oct 24
Price target increased by 15% to €9.73 Up from €8.47, the current price target is an average from 4 analysts. New target price is 95% above last closing price of €4.99. Stock is up 81% over the past year. The company is forecast to post earnings per share of €0.67 for next year compared to €0.51 last year. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €4.89, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Consumer Finance industry in Europe. Total returns to shareholders of 7.7% over the past three years. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €4.49, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Consumer Finance industry in Europe. Total loss to shareholders of 3.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.23 per share. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: €0.11 (vs €0.18 in 2Q 2023) Second quarter 2024 results: EPS: €0.11. Revenue: €30.8m (up 1.8% from 2Q 2023). Net income: €5.75m (up 45% from 2Q 2023). Profit margin: 19% (up from 13% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Consumer Finance industry in Europe. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €4.84, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Consumer Finance industry in Europe. Total returns to shareholders of 3.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.42 per share. Buy Or Sell Opportunity • Jul 16
Now 20% undervalued Over the last 90 days, the stock has risen 18% to €6.09. The fair value is estimated to be €7.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 117% in 2 years. Earnings are forecast to grow by 98% in the next 2 years. Aankondiging • Jun 26
Multitude SE (XTRA:FRU) commences an Equity Buyback for 2,172,396 shares, representing 10% of its issued share capital, under the authorization approved on April 25, 2024. Multitude SE (XTRA:FRU) commences share repurchases on June 25, 2024, under the program mandated by the shareholders in the Annual General Meeting held on April 25, 2024. As per the mandate, the company is authorized to repurchase up to 2,172,396 shares, representing 10% of its issued share capital. The shares may be repurchased at the prevailing market price on the date of repurchase. The program will be funded using the company’s unrestricted equity. The shares to be repurchased may be used to meet obligations arising from the company’s incentive schemes or as a means of payment in acquisitions and other similar arrangements relating to the company’s business. The authorization will be valid until the earliest of the transfer of the registered office of the company from Finland to Malta pursuant to the transfer proposal approved by the Company’s Board of Directors on January 17, 2024; or the end of the next Annual General Meeting to be held in the year 2025; or June 30, 2025. As of March 28, 2024, the company had 21,723,960 issued and outstanding shares and had 80,786 own shares.
On 16 May 2024, the company announces a share repurchase program. Under the program, the company will repurchase up to 100,000 shares, for a total of €0.7 million. The repurchases will commence on May 17, 2024, and the program will end by June 30, 2024. Reported Earnings • May 23
First quarter 2024 earnings released: EPS: €0.07 (vs €0.046 in 1Q 2023) First quarter 2024 results: EPS: €0.07 (up from €0.046 in 1Q 2023). Revenue: €27.3m (down 9.9% from 1Q 2023). Net income: €2.58m (up 162% from 1Q 2023). Profit margin: 9.4% (up from 3.2% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Consumer Finance industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Aankondiging • May 18
Multitude SE Confirms Earnings Guidance for the Year 2024 Multitude SE confirmed earnings guidance for the year 2024. For the year, the company expected to achieve its EBIT guidance of EUR 67.5 million for 2024, which corresponds to an increase in EBIT of around 50% compared to 2023. Board Change • May 01
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Kristiina Leppanen was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 19
Upcoming dividend of €0.19 per share Eligible shareholders must have bought the stock before 26 April 2024. Payment date: 07 May 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.5%). Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €5.54, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Consumer Finance industry in Europe. Total returns to shareholders of 3.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €10.48 per share. Declared Dividend • Mar 20
Dividend increased to €0.19 Dividend of €0.19 is 58% higher than last year. Ex-date: 26th April 2024 Payment date: 30th April 2024 Dividend yield will be 3.9%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 2.3% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 58% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Jan 18
Price target increased by 7.5% to €8.10 Up from €7.53, the current price target is an average from 3 analysts. New target price is 75% above last closing price of €4.62. Stock is up 31% over the past year. The company is forecast to post earnings per share of €0.54 for next year compared to €0.39 last year. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €3.16, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Consumer Finance industry in Europe. Total loss to shareholders of 29% over the past three years. Aankondiging • Nov 17
Multitude SE Provides Consolidated Earnings Guidance for the Year 2023 Multitude SE provided consolidated earnings guidance for the year 2023. For the year, the company expects consolidated EBIT of EUR 45 million. New Risk • Aug 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (56% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (€73.4m market cap, or US$79.3m). Aankondiging • Aug 24
Multitude SE Provides Financial Guidance for 2023 Multitude SE provided financial guidance for 2023. Multitude is on track to reach EBIT guidance of EUR 45 million for Fiscal Year 2023. Reported Earnings • May 14
First quarter 2023 earnings released: EPS: €0.10 (vs €0.093 in 1Q 2022) First quarter 2023 results: EPS: €0.10 (up from €0.093 in 1Q 2022). Revenue: €27.2m (down 13% from 1Q 2022). Net income: €2.22m (up 11% from 1Q 2022). Profit margin: 8.2% (up from 6.4% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Consumer Finance industry in Europe. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Upcoming Dividend • Apr 21
Upcoming dividend of €0.12 per share at 3.1% yield Eligible shareholders must have bought the stock before 28 April 2023. Payment date: 09 May 2023. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (4.9%). Price Target Changed • Mar 21
Price target increased by 8.3% to €8.15 Up from €7.53, the current price target is an average from 4 analysts. New target price is 102% above last closing price of €4.04. Stock is up 8.0% over the past year. The company is forecast to post earnings per share of €0.77 for next year compared to €0.39 last year. Price Target Changed • Nov 16
Price target decreased to €7.53 Down from €8.37, the current price target is an average from 4 analysts. New target price is 179% above last closing price of €2.70. Stock is down 43% over the past year. The company is forecast to post earnings per share of €0.23 for next year compared to €0.057 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Michael A. Cusumano was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Oct 21
Price target decreased to €7.53 Down from €8.37, the current price target is an average from 4 analysts. New target price is 185% above last closing price of €2.64. Stock is down 46% over the past year. The company is forecast to post earnings per share of €0.29 for next year compared to €0.057 last year. Price Target Changed • Jun 02
Price target decreased to €9.03 Down from €10.37, the current price target is an average from 3 analysts. New target price is 166% above last closing price of €3.40. Stock is down 25% over the past year. The company is forecast to post earnings per share of €0.41 for next year compared to €0.057 last year. Board Change • May 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Director Michael A. Cusumano was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 17% share price gain to €4.33, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Consumer Finance industry in Europe. Total loss to shareholders of 51% over the past three years. Price Target Changed • Jul 13
Price target increased to €7.83 Up from €7.00, the current price target is an average from 3 analysts. New target price is 60% above last closing price of €4.89. Stock is up 43% over the past year. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improved over the past week After last week's 15% share price gain to €5.30, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Consumer Finance industry in Europe. Total loss to shareholders of 74% over the past three years. Is New 90 Day High Low • Feb 16
New 90-day high: €7.44 The company is up 61% from its price of €4.63 on 18 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Finance industry, which is up 32% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €12.00 per share. Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment improved over the past week After last week's 20% share price gain to €7.44, the stock is trading at a trailing P/E ratio of 20.4x, up from the previous P/E ratio of 17x. This compares to an average P/E of 15x in the Consumer Finance industry in Europe. Total return to shareholders over the past three years is a loss of 72%. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 24% share price gain to €5.84, the stock is trading at a trailing P/E ratio of 14.2x, up from the previous P/E ratio of 11.4x. This compares to an average P/E of 14x in the Consumer Finance industry in Europe. Total return to shareholders over the past three years is a loss of 81%. Is New 90 Day High Low • Jan 05
New 90-day high: €5.34 The company is up 25% from its price of €4.27 on 07 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Finance industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €12.04 per share. Valuation Update With 7 Day Price Move • Nov 11
Market bids up stock over the past week After last week's 22% share price gain to €4.89, the stock is trading at a trailing P/E ratio of 9.9x, up from the previous P/E ratio of 8.1x. This compares to an average P/E of 10x in the Consumer Finance industry in Europe. Total return to shareholders over the past three years is a loss of 79%. Aankondiging • Oct 01
Ferratum Oyj Announces Executive Changes Ferratum Oyj announced that Daniel Kliem has been appointed as Chief Risk Officer for the Group, succeeding Dr. Clemens Krause, who will continue to serve as a member of the Board of Directors of Ferratum. Daniel will join Ferratum on 1 October 2020 and will also be appointed as a member of Ferratum's Leadership Team with effect on the same date. Daniel has obtained a strong background in risk and credit scoring during his 17 years of managerial experience in the field and joins Ferratum from MA Data Consulting GmbH were he acted as Director, Lead Digital Innovation Lab. Prior to this, Daniel has acted as the Managing Director of Creditsafe Germany, the world's most used provider of online business credit reports. Daniel has, in addition, built on his extensive experience in risk management both at American Express, where he served over 10 years, first as Vice President & Country Risk Officer in Germany and Austria while later assuming further responsibilities for Sweden, Finland, Netherlands and France. Daniel as in addition served as Chief risk Officer at Lendico Global Services GmbH. Daniel joins Ferratum at a time in which the Group continues to roll out new products and services. Daniel will play a key role in improving Ferratum's industry leading risk capabilities further and adds valuable knowledge and insight, with his extensive experience in risk management and the payments industry, to the Leadership Team which is of high value as the Group implements its ambitious growth plans.