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Original-Research: EV Digital Invest AG - from NuWays AG
Classification of NuWays AG to EV Digital Invest AG
Company Name: EV Digital Invest AG
ISIN: DE000A3DD6W5
Reason for the research: Update
Recommendation: Kaufen
from: 28.05.2024
Target price: EUR 3.60
Target price on sight of: 12 Monaten
Last rating change:
Analyst: Frederik Jarchow
Strategic partnership to unlock renewable energy projects
Topic: EVDI announced to have entered a strategic partnership with Green
FOX Energy - a project developer and owner of renewable energy plants. The
cooperation enables EVDI to offer direct investments into renewable energy
projects to its customers via its platform. In detail:
With this cooperation, EVDI is further expanding its product range of
"Engel & Völkers Digital Invest" that is currently comprising real-estate
investments into residential, office and logistics. The added green
investment opportunities not only give investors the opportunity to
diversify their investments even more broadly, but also to directly
participate from the transformation of the energy infrastructure. The
offered projects should allow low minimum investments of EUR 100 and rather
short terms of only 12 months.
In our view, the partnership should bode well for EVDI as 1) renewable
energy is one of the current megatrends showing a steep growth trajectory,
2) it should further diversify the business by reducing the dependency from
the developments in the real-estate sector and 3) it should attract new
target investor groups. Even better, operational EVDI can build on its
established two-stage review process (internal and external analysis by
renowned experts) used for real-estate projects. As a result, the first
solar project ("Solarpark Eyendorf") is already available on the platform.
Going forward, we expect more renewable projects to follow as Green FOX
EnergyŽs project pipeline is well filled with around 2GW peak and the
demand for electricity generation from renewable energy sources is expected
to increase by more than 60% until 2026 (according to the IEA).
In light of the promising strategic partnership with Green FOX Energy,
paired with first signs of revitalization of the real-estate market mainly
stemming from the anticipated reduction of interest rates, EVDI should
easily achieve its conservative guidance of EUR 4.9-5.8m in op. income (vs
eNuW: EUR 5.6m) and up to EUR -1.9m EBITDA, (eNuW: EUR -2m). While we see the
growth potential arising from the partnership, we play it safe, leaving our
estimates unchanged for now.
BUY on valuation with an unchanged PT of EUR 3.60, based on DCF.
You can download the research here:
http://www.more-ir.de/d/29921.pdf
For additional information visit our website
www.nuways-ag.com/research.
Contact for questions
NuWays AG - Equity Research
Web: www.nuways-ag.com
Email: research@nuways-ag.com
LinkedIn: https://www.linkedin.com/company/nuwaysag
Adresse: Mittelweg 16-17, 20148 Hamburg, Germany
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Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.
Offenlegung möglicher Interessenskonflikte nach § 85 WpHG beim oben analysierten Unternehmen befinden sich in der vollständigen Analyse.
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The issuer is solely responsible for the content of this research.
The result of this research does not constitute investment advice
or an invitation to conclude certain stock exchange transactions.
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