NuWays AG Predicts Strong Growth for Nynomic AG in 2024

NuWays AG has issued an update on Nynomic AG, recommending buying the company's stocks with a target price of €54.00 over the next 12 months. Nynomic is expected to deliver strong performance in the fourth quarter, anticipating significant growth in 2024, driven by margin improvements and potential major acquisitions.

Fourth-quarter sales are estimated at €37.6 million, representing a 14% increase compared to the previous year, with an EBIT margin that could reach a record 19.8%. This performance is attributed to the completion of previously delayed orders and the launch of new projects in structurally growing markets.

For 2024, Nynomic is forecasted to experience a sales growth of nearly 17%, supported by the acquisition of art photonics and the success of several products, including a portable drug detection device developed by Spectral Engines. The company is also expected to benefit from growth in the agricultural, semiconductor, and medtech sectors.

With a buy-and-build strategy, Nynomic is looking to acquire 1 to 2 additional companies in the next six months, aiming to expand its technology and solutions portfolio. The company aims to achieve a revenue of €200 million with an EBIT margin of 16-19% in the medium term.