mVISE (C1VX)

Business description

Founded in 2000, mVISE is a pioneer in German mobile software solutions with a large blue-chip client base, including Vodafone, Bosch and Deutsche Telekom. The group specialises in mobile business solutions, virtualisation and cloud-computing, and security software. Consulting contributed two-thirds of revenues in 2016, and act as a driver of additional revenues including own software sales.

Stock data

Market cap.€37.9m
Last close€4.52
High / Low (52 weeks)€4.9 / €3.0
Stock market listingDB
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual1.33.448.2
Relative *(4.2)11.642.0

* % Relative to local index

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Company news

Latest research

Bullish 2020 guidance after strong 2017

Flash note | Technology | 23/02/2018

In all the right places

Initiation | Technology | 14/09/2017

AKTUELLE VERÖFFENTLICHUNGEN

mVISE

mVISE: Nach starkem 2017 optimistische Vorgabe für 2020

23/02/2018
mVISE

Stets am richtigen Ort

14/09/2017

Investment summary

mVISE has released preliminary 2017 results, showing a 78% increase in revenue (Gesamtleistung, which includes capitalised items) to €16.1m and an 82% increase in EBITDA to €2.0m, both 5% above consensus. Q4 revenues and EBITDA of €5.9m and €1.4m, respectively, reflected robust performances in managed services operations and at integration platform elastic.io, as well as the first-time inclusion of SHS Viveon’s consulting business, which added c €1.0m to EBITDA. The board expects strong incentives for German firms to invest in digital transformation to continue to sustain market growth. New 2020 revenue and EBIT margin targets of €35m and 15%, respectively, imply an organic revenue CAGR of 32% and a 15-20x increase in EBIT, based on 2017 consensus. In our view, upside from the SHS Viveon acquisition, the high operating leverage of the group’s SaaS businesses and the outlook for strong demand lend a high degree of credibility to these targets.

Last updated on 23/02/2018

Key management

Manfred Götz , CEO
Sonja Peisker, IR

Company address

Wanheimer Straße 66
Düsseldorf, 40472
Germany
+49 211 78 17 80 – 0
View website