Nynomic AG Commences FY24 with Promising Growth

Nynomic AG has demonstrated a robust beginning to FY24 with growth in order intake for the first time since Q3 2022. In Q1, preliminary sales increased by 6.5% year-on-year, reaching €23 million. This growth is attributed to last year’s acquisitions of NLIR and art photonics as well as strong demand across its portfolio companies, resulting in a Q1 EBIT of €1.6 million, up 6.7% year-on-year.

The company reports a 24% year-on-year growth in order intake and 57% quarter-over-quarter, marking a significant rebound. Management remains optimistic, forecasting additional operational improvements, influenced by the cyclical nature of the business. For the full year, Nynomic anticipates at least single-digit percentage growth and improvement in EBIT margin.

In line with strategic growth plans, Nynomic is also exploring acquisitions to enhance both technological and geographical diversity, leveraging its robust financial position. Following its evaluation, NuWays AG maintains a "Kaufen" (Buy) recommendation on Nynomic AG with a target price of €52.00.