Produkty Zamknij

Analyst recommendation

Q3’2018: Positive turnaround initiated – revenue and earnings forecast for 2018 increased

Berlin, December 7, 2018. After a significant drop in sales in the first half of the year (-15% yoy), YOC was able to stop the negative trend in Q3’2018. The company was able to maintain revenue levels of the previous year as well as a balanced EBITDA (H1’2018: € -0.4 million, Q3’2017: € -0.1 million). The positive development continues. On December 4, management increased the sales and earnings forecast for 2018 due to high order backlog. Now revenues of € 14.0-14.5 million (previously € 13.0- € 14.0 million) and a positive EBITDA of up to € 0.2 million (previously: € -0.4 million) are expected. Our DCF model calculates a new fair value of € 6.70 per share (previously: € 6.07). We raise the price target for the YOC share to € 6.70 and confirm our buy recommendation. The complete study can be accessed here (German only):