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SRH AlsterResearch AG Update: wallstreet:online - Preliminary figures and outlook for FY21E

SRH AlsterResearch AG Update: wallstreet:online - Preliminary figures and outlook for FY21E

Nachrichtenquelle: AlsterResearch AG
26.02.2021, 13:06  |  302   |   |   

Providing preliminary results for FY20P wallstreet:online (w:o) showed healthy revenuegrowth in its core business at high margins (41% EBITDA, excl. extra items).

 

Providing preliminary results for FY20P wallstreet:online (w:o) showed healthy revenuegrowth in its core business at high margins (41% EBITDA, excl. extra items). At the same time, earnings were significantly burdened by customer acquisition costs related to Smartbroker. The revenue outlook for FY21E (EUR 45-50m) reflects accelerated customer uptake in brokerage. Encouraged by a high momentum recorded in January and early February the company forecasts 120K new brokerage customers in FY21E which will lead to higher than anticipated expenses and thus lower profits. We believe that growth investments should pay off and get more and more visible from FY22E onwards (EPS FY21E down by 44%, FY22E up 13%). We are reiterating our BUY recommendation maintaining our PT.

Please note that AlsterResearch publishes MiFID II compliant research only. For a detailed discussion on MiFID II, please visit www.research-hub.de

wallstreet:online Aktie jetzt über den Testsieger (Finanztest 11/2020) handeln, ab 0 € auf Smartbroker.de

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SRH AlsterResearch AG Update: wallstreet:online - Preliminary figures and outlook for FY21E Providing preliminary results for FY20P wallstreet:online (w:o) showed healthy revenuegrowth in its core business at high margins (41% EBITDA, excl. extra items). At the same time, earnings were significantly burdened by customer acquisition costs related to Smartbroker. The revenue outlook for FY21E (EUR 45-50m) reflects accelerated customer uptake in brokerage.

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