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CREALOGIX Group (CLXN)

Business description

CREALOGIX Group provides digital banking technology solutions to banks, wealth managers and other financial services companies. The company’s suite of solutions includes online and mobile banking, digital payments, digital learning and security.

Stock data

Market cap.CHF146.5m
Last closeCHF107.00
High / Low (52 weeks)CHF100.0 / CHF81.0
Stock market listingSW
Forecast net cash (CHFm)10.3
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(2.8)(23.9)(40.3)
Relative *(8.3)(25.8)(36.6)

* % Relative to local index

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Company news

Investment summary

FY18 revenues grew by 13.1% at constant currencies to CHF87.1m while EBITDA eased by 3.8% to CHF7.0m, mainly due to the switch to SaaS. CREALOGIX recently acquired the 80% balance of Elaxy BS&S (German hosting and software business). Oliver Weber, VP Digital Banking Switzerland, responsible for the Swiss digital banking business, has joined CREALOGIX’s group management. Marc Stähli, Senior VP Global Sales, intends to concentrate fully on CREALOGIX’s international sales activities in the future and is therefore stepping down from group management. Given the attractive industry dynamics, and with CREALOGIX ideally positioned to capitalise on these, the shares look attractive on c 17x our FY20e EPS.

Last updated on 01/02/2019

Y/E Jun Revenue (CHFm) EBITDA (CHFm) PBT (CHFm) EPS (CHFc) P/E (x) P/CF (x)
2017A 74.9 7.3 5.0 259.00 41.3 11.7
2018A 87.1 7.0 5.0 239.00 44.8 38.8
2019E 110.2 11.1 8.1 409.28 26.1 12.8
2020E 121.0 14.7 12.2 610.37 17.5 10.0

Last updated on 25/01/2019

Latest video

Executive Interview - Crealogix

Industry outlook

CREALOGIX develops and implements software that enables digital banking for “the digital bank of tomorrow”. The solutions are most often used by traditional banks to enable their journey to digitalisation, through the provision of a sophisticated, modern omni-channel offering to their clients. The group’s products are front-end solutions that integrate with customers’ back-end systems. The technology has won many awards, and in December, Forrester named CREALOGIX a leader for Digital Banking Engagement Platforms.

Last updated on 01/02/2019

Key management

Bruno Richle, Chairman
Thomas F. J. Avedik, CEO
Philippe Wirth, CFO

Company address

Baslerstrasse 60
Zurich
8048
Switzerland
+41 58 404 87 57
View website