Original-Research dynaCERT Inc (von GBC AG): Buy

Nachrichtenagentur: dpa-AFX
05.10.2020, 10:01  |  2253   |   |   

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Original-Research: dynaCERT Inc - von GBC AG

Einstufung von GBC AG zu dynaCERT Inc

Unternehmen: dynaCERT Inc
ISIN: CA26780A1084

Anlass der Studie: Research Note
Empfehlung: Buy
Kursziel: 2.20 CAD
Kursziel auf Sicht von: 31.12.2021
Letzte Ratingänderung: -
Analyst: Matthias Greiffenberger, Julien Desrosiers

Half-year figures in line with expectations. Significant sales leaps should be achieved in the second half of 2020. Target price confirmed: CAD 2.20, rating: Buy.

In the first six months of the current financial year, sales revenues increased significantly by 580.0% to CAD 0.33 million (previous year: CAD 0.05 million). This was due to the good sales start into the 2020 financial year, although sales and in particular production were significantly restricted due to the corona crisis. A total of 47 units were delivered in the first half of 2020. While sales revenues of CAD 0.31 million were generated in the first quarter of 2020, there were no significant sales contributions in the second quarter. We had already anticipated this development, as the production facility had to remain closed. Currently, production has restarted and we expect significant sales increases in the second half of the year. dynaCERT has maintained the existing employee structure even during the COVID crisis and has received governmental support in the amount of CAD 0.44 million.

As already described in the research report of August 10, 2020, it was announced on May 11, 2020 that KarbonKleen Inc. has been granted exclusive dealer rights for the truck sector in the USA. KarbonKleen receives regional exclusivity and in return has to purchase at least 150,000 HydaGENTM units over the next three years. The first order for 3,000 units was placed on May 9, 2020.

The company also has a wholly owned subsidiary called dynaCERT International Strategic Holdings Inc. ('DISH') to realize international investments in relevant technologies and sales commitments and to implement the subscription model for the dynaCERT units. Thus, 3,000 units were committed to KarbonKleen until December 31, 2021 under a subscription model. Furthermore, dynaCERT indirectly holds 20% of KarbonKleen via DISH. In our opinion, this is an important investment, as KarbonKleen has secured exclusive rights for the truck market in the USA. This is likely to be the most important market for dynaCERT, especially in the near future. Therefore, a 20% share in the most important target market should be very important and could turn out to be a very profitable investment.


Rating: Buy
Analyst: GBC
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Original-Research dynaCERT Inc (von GBC AG): Buy ^ Original-Research: dynaCERT Inc - von GBC AG Einstufung von GBC AG zu dynaCERT Inc Unternehmen: dynaCERT Inc ISIN: CA26780A1084 Anlass der Studie: Research Note Empfehlung: Buy Kursziel: 2.20 CAD Kursziel auf Sicht von: 31.12.2021 …

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