Modulight: We want more visibility
Modulight's revenue was already known after the profit warning. EBIT was clearly below our forecast, mainly due to surprisingly high depreciation but also higher costs than expected. There are no concrete signs of a turnaround yet, so we lowered our forecasts for the coming years. We expect Modulight to continue to grow in the coming years with new commercializations. The result will also improve, but remain loss-making without faster growth than we forecast. The valuation of the stock has moderated, but due to the loss-making and lack of visibility, the risk/reward ratio is modest.
Modulight
Modulight operates in the technology industry. The company designs, markets, and produces biomedical laser products used in oncology, genetics, and ophthalmology. The customers primarily consist of hospitals and corporate customers operating in medical technology. In addition to the main business, various value-added services are also offered. Their main market is the US.
Read more on company pageKey Estimate Figures26.02
2023 | 24e | 25e | |
---|---|---|---|
Revenue | 4.0 | 6.5 | 8.8 |
growth-% | -12.46 % | 62.15 % | 35.00 % |
EBIT (adj.) | -12.1 | -10.5 | -5.5 |
EBIT-% (adj.) | -301.39 % | -161.42 % | -62.40 % |
EPS (adj.) | -0.28 | -0.24 | -0.10 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | - | - | - |
EV/EBITDA | - | - | - |