SFC Energy AG: Analyst Maintains Buy Rating Despite Revised Target

First Berlin Equity Research has issued an update on SFC Energy AG, maintaining a Buy recommendation but reducing the price target to €21 from €26. Analyst Dr. Karsten von Blumenthal indicated that the company’s Q3 results were weaker than expected, with revenue and gross profit falling short of forecasts. However, AEBITDA met expectations, reflecting cost discipline.

Management has adjusted 2025 revenue guidance to the lower end of the previously stated range, alongside AEBITDA and AEBIT projections. This adjustment comes in response to the acquisition of a 15% stake in Oneberry, its Asian partner. The option to expand this stake to 50% could prove significant for external growth.

Despite the current adjustments, a strong Q4 is anticipated, driven by high order intake in Q3. Nonetheless, forecasts for 2025 and beyond have been lowered due to a challenging business environment expected to influence the first half of 2026.