Analysis: Rubean AG's Performance and Future Prospects

NuWays AG has issued an update on Rubean AG with a "Buy" recommendation and a target price of €8.50, to be achieved within the next 12 months. The report highlights Rubean's successful roll-out of SoftPOS, leading to a 117% increase in 9-month sales, reaching €1.3 million. Collaboration with Deichmann, Europe's largest shoe retailer, is notably contributing to these results.

Personnel expenses decreased by 6% year-over-year, benefiting EBITDA, which improved to € -1.9 million. Rubean's presence in Germany and Spain with over 50,000 terminals makes it a market leader. It serves logistic companies, retailers, hospitality firms, and banks, with new customer acquisitions anticipated to boost sales further.

The company is in talks with potential clients in Europe, LATAM, and the US, expecting continued growth beyond 2024. Rubean aims for profitability by FY25, with a mid-term sales target of over €10 million and a 40%+ EBIT margin by FY27.