Beaconsmind AG: Strong growth anticipated thanks to new contract extensions

NuWays AG has released an update to its research on beaconsmind AG, highlighting robust order intake at the start of the year driven by three significant contract extensions. Of these, two are in the CloudWiFi sector, demonstrating the strength of the company's newly aligned product portfolio. The group is expanding its collaboration with retirement home operator Vitanas for comprehensive Wi-Fi coverage in 15 new locations, a project worth around CHF 1m planned for the second quarter of 2024. In addition, the collaboration with the nursing home operator Müller retail is also being strengthened to include approximately 145 additional stores in Central and Eastern Europe, with a rollout planned for the first half of 2024.

The completion of the projects is expected to result in a significant increase in revenue, with sales expected at CHF 6.9m for the current financial year, and a forecast increase to CHF 12.5m for the 2024 financial year, in line with the company's objectives. direction. The analysis also highlights an increasing forecast EBITDA, reaching CHF 2m in 2024 thanks to the full effect of recent acquisitions, cross-selling synergies and continued internationalization.

NuWays AG reiterates its Buy recommendation with an adjusted price target of €15.00, based on a DCF assessment. This reflects a positive outlook for beaconsmind AG, which continues to pursue its buy-and-build strategy with additional acquisitions planned in 2024.