Original-Research: All for One Group SE - von BankM AG

Einstufung von BankM AG zu All for One Group SE

Unternehmen: All for One Group SE
ISIN: DE0005110001

Anlass der Studie: GB 2020/21, vorläufig - Kurzanalyse
Empfehlung: Kaufen
seit: 18.11.2021
Kursziel: EUR 86,00
Kursziel auf Sicht von: 12 Monate
Letzte Ratingänderung: 24.5.2017, vormals Halten
Analyst: Daniel Grossjohann

2020/21 in line with expectations - sales leap in 2021/22 through
acquisitions and organic growth

The preliminary figures of the All for One Group [ISIN DE0005110001, Prime
Standard, A1OS GY; revenue: €372.9 mln (+5%); EBIT €20.6 mln (+7%)] were in
line with the guidance raised in August 2021 and met our expectations. The
company also provided an outlook for 2021/2022 for the first time, which
takes into account the acquisitions of SNP Poland and ASC Group
(Switzerland) that took place on Oct 1st, 2021. 2021/22 revenue is expected
to be between €430 mln and €450 mln, driven by inorganic and organic
growth. EBIT is expected to be in the range of €24 mln to €26 mln, which
would contribute to margin expansion. In view of the upcoming migration
wave to SAP S/4HANA, the All for One Group is excellently positioned with
the Conversion/4 offering. The share continues to be attractively valued
with a 2021/22 EV/EBIT of 13.1.

Our price target for the All for One Group share, equally based on DCF
valuation and peer group analysis, is €86.00. We reiterate our “Buy”

Die vollständige Analyse können Sie hier downloaden:
Die Analyse oder weiterführende Informationen zu dieser können Sie hier downloaden

Kontakt für Rückfragen
BankM AG
Daniel Grossjohann
Mainzer Landstrasse 61, 60329 Frankfurt
Tel. +49 69 71 91 838-42
Fax +49 69 71 91 838-50

-------------------übermittelt durch die EQS Group AG.-------------------

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.

GBC im Fokus

IGEA Pharma N.V. Realignment to CBD extraction

The goal is to become the quality and cost leader in the field of CBD in Europe. To this end, a GMP pharma compliant plant is being built in Switzerland. The supercritical CO2 extraction process is to be used to achieve the highest standard of quality. The CBD market is growing strongly and with the focus on quality leadership and pure extraction, IGEA Pharma's new business model should be able to occupy an attractive niche market. With the proprietary supercritical CO2-extraction technology, other markets such as vanilla, rose or rosemary can be developed in the medium term. Based on our DCF model, we have determined a fair value of € 1.05 (CHF 1.13) per share and assign a BUY rating.

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