MAX Automation SE
NuWays RecommendationRecommendation
Buy
Price Target
€6.50
Upside
12.46%
- 1M
- 3M
- 6M
- YTD
- 1Y
- 3Y
€5.78
MAX Automation is an investment company with currently 6 majority stakes in German industrial companies (bdtronic Group, Vecoplan Group, AIM micro systems GmbH, NSM + Jücker, ELWEMA Automotive GmbH) and a minority stake (5.69%) in ZEAL Network SE. The two investments bdtronic and Vecoplan, which already accounted for 71% of the holding company's revenue in the 2024 financial year, deserve special mention. Vecoplan develops, produces and sells shredding and sorting systems for the recycling industry to recycle wood, plastics and paper, for example. Bdtronic develops and produces impregnation and dosing machines for the automotive industry, which are primarily used for electric motors. The increase in global production figures for electric cars has also made itself felt in bdtronic's order book.
KPIs in EUR
KPI | 2024 | 2025e | 2026e |
---|---|---|---|
Sales | 366.00M | 310.16M | 325.74M |
EBITDA | 29.28M | 12.79M | 22.39M |
EBIT | 17.57M | 1.29M | 10.79M |
EPS | 0.22 | -0.07 | 0.08 |
FCF | 6.58M | 3.94M | 13.33M |
Valuation
KPI | 2024 | 2025e | 2026e |
---|---|---|---|
EV / Sales | 0.81x | 0.94x | 0.86x |
EV / EBITDA | 10.10x | 22.83x | 12.44x |
EV / EBIT | 16.84x | 227.02x | 25.81x |
Price / Earnings | 26.28x | (77.97x) | 70.15x |
EV / FCF | 44.98x | 74.15x | 20.90x |