Multitude SE Shows Strong Q4 and Confirms Bullish FY24 EBIT Guidance, NuWays AG Rates as BUY

Multitude SE recently disclosed robust Q4 performance figures and reaffirmed its FY24 Earnings Before Interest and Taxes (EBIT) forecast of €67.5 million. These developments were released by research from NuWays AG, which maintains a BUY recommendation for the company with a target price of €10. The positive outlook arises from several key factors including a notable growth in sales, which for Q4, saw a 9% quarter on quarter increase to €63.1 million, and a year-on-year growth of 15%. This performance outperformed NuWays AG's projections.

Furthermore, Multitude's EBIT surged by 16% quarter on quarter to €13.5 million in Q4, exceeding analyst expectations, and showcasing a 40% increase on a yearly basis. These achievements underline Multitude SE's consistent ability to meet its guidance across multiple consecutive years. Its strategic focus on cost control, alongside the expansion of its net loan book and new ventures such as wholesale banking and CapitalBox, have been pivotal in sustaining this momentum.

Given the stock's current negative Enterprise Value (EV) and a PE ratio of only 3.4 for FY24, NuWays AG underscores Multitude SE's undervaluation. This, combined with the company's profitability, resilience, and dividend payment attribute, elucidates why Multitude remains a favored pick in NuWays AG’s Alpha List.