sur Energiekontor AG (isin : DE0005313506)
Energiekontor AG Receives Buy Rating from First Berlin Equity Research
On August 13, 2024, First Berlin Equity Research GmbH released an update on Energiekontor AG (ISIN: DE0005313506), maintained a BUY recommendation, and reiterated a price target of EUR 126.00. The report is the responsibility of Dr. Karsten von Blumenthal.
Energiekontor's first-half earnings were significantly lower compared to the previous year, with EBT at €17 million, marking a 40% year-over-year decline. Group EBT was 11% below expectations, primarily due to weaker performance in the Project segment. Despite this, future earnings potential for the segment is high, thanks to 31 secured building permits totaling around 1,000 MW by the end of H1 2024.
The Power Production segment remained a major revenue driver, contributing an EBT of €14 million. Energiekontor confirmed its 2024 guidance with an EBT range of €30 million to €70 million and maintains a medium-term growth outlook, projecting an EBT of €120 million by 2028. Current 2024 forecasts are set at an EBT of €52 million. The stock is attractively valued with a 2025 consensus P/E of 11x. Their sum-of-the-parts valuation supports a stable price target of €126.
R. H.
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