MLP SE: Solid Performance and Optimistic Outlook for FY'25

NuWays AG has classified MLP SE with a "Buy" recommendation. The target price is set at €12.50 over a 12-month horizon. The company's Q4 results for FY'24 are expected to show stable sales at €289m and an 11% increase in EBIT to €28m.

MLP is likely to propose a 20% dividend increase, reaching €0.36 per share, maintaining a 6% yield. This is in line with their payout ratio of 50-70%, suggesting a thriving financial health.

The company's old mid-term targets will become the new FY'25 guidance. Moreover, MLP plans to introduce ambitious new mid-term objectives that could serve as catalysts for their share price.

For FY'25, a shift in EBIT drivers is anticipated. The real estate segment, previously negative, is poised for recovery, potentially achieving break-even, partly due to a recent partnership.

The overall valuation of MLP should align with its operational development. Consequently, the "Buy" recommendation is reaffirmed.