14.02.2022
All for One Group SE DE0005110001
Original-Research: All for One Group SE (von BankM AG): Kaufen
Original-Research: All for One Group SE - von BankM AG Einstufung von BankM AG zu All for One Group SE Unternehmen: All for One Group SE Anlass der Studie: Bericht Q1 2021/22; Kurzanalyse
Empfehlung: Kaufen Strong organic growth and M&A effects In Q1 2021/22 (calendar Q4), the All for One Group (ISIN DE0005110001, Prime Standard, A1OS GY) expanded its sales by 24.7%. In addition to three successfully completed acquisitions, the increase was also due to organic growth of 10%. All revenue types increased, and CONVERSION/4 revenues, which were reported for the first time, multiplied (to €2.1 million). The EBIT margin increased to 6.4% (previous year: 6.2%), also due to a very strong license business (€14.7 million; +66%). The company confirmed its previous outlook, citing continuing economic uncertainties. With CONVERSION/4 subscription revenues gaining momentum and a recurring revenue share of clearly more than 50% in the long term, the All for One Group share continues to be attractively valued in our view with an EV/sales of 0.77. Our price target for the All for One Group share, equally based on DCF valuation and peer group analysis, is €90.60. We reiterate our “Buy” rating. Die vollständige Analyse können Sie hier downloaden:
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