All for One Group SE reported a decline in both sales revenue (-2%) and EBIT (-33%) for the fiscal year. While the company is strategically shifting towards cloud-based solutions, this transition appears to be impacting short-term financial performance. Investors should monitor the progress of this transformation and the growth of recurring revenue streams. #allforone #sap
All for One Grp
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ISIN: DE0005110001
Ticker: A1OS
DE0005110001
A1OS
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Discussion sur A1OS
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41J·
Revenue & Profit Dip
discdvl.comDisclosure Devil | Analysis
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1 Commentairefund_navigator_elshq@fund_navigator_elshq
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5Mo·
Modern value with substance: I have analyzed these 4 AAA stocks for you
🧠 Background
The idea for this article came from the current Saturday episode of Alles auf Aktien (AAA) with Frank Fischer as a guest. He heads Shareholder Value Management AG and is responsible for the Frankfurt UCITS ETF Modern Value, among other things. In the episode, he presented his Modern Value Investing approach with a focus on profitable, high-growth companies that are still reasonably valued.
I found four stocks from this episode particularly exciting: $NOW (+1,99 %) , $A1OS (+2,65 %) , $MCE (-0,73 %) and $APP (-2,58 %) . I took a closer look at these stocks and compiled the latest cash flow figures, market capitalization and a brief assessment for you.
📊 Company overview
ServiceNow (NOW) - Enterprise Software, USA
Operating cash flow (TTM): approx. USD 4.7 billion
Free cash flow: approx. USD 3.85 billion
Market capitalization: around USD 201 bn
Assessment: Cloud platform for digital workflows. Impressive cash flow, established market position, but ambitious valuation
All for One Group (A1OS) - IT consulting, Germany
Operating cash flow: EUR 46.6m
Free cash flow: approx. EUR 42m
Market capitalization: approx. USD 280m
Assessment: Small IT service provider with focus on SAP projects. Solid cash flows, but heavily dependent on the DACH market
CHAPTERS Group (CHG) - investment company, Germany
Operating cash flow: approx. EUR 11.5m
Free cash flow: approx. EUR 7.8m
Market capitalization: approx. USD 1.1 bn
Assessment: Active investor in SMEs and services. Young listed model with high valuation level, but exciting approach
AppLovin (APP) - AdTech, USA
Operating cash flow (TTM): approx. USD 2.5 bn
Free cash flow (Q1 2025): USD 826 million
Market capitalization: approx. USD 120 billion
Assessment: Profitable provider in the mobile ad ecosystem. Very strong cash flow, aggressive growth. Somewhat overheated, but strategically focused
🚀 My takeaways
1. the selection reflects the Modern Value approach well. Cash flow strong, technology driven, but no classic hype stocks.
2. AppLovin and ServiceNow have global scale. The German stocks look like targeted small or mid cap building blocks with defensive substance
3. in terms of valuation, you have to take a closer look at AppLovin and CHAPTERS. High growth, but also a lot of expectation priced in.
❓ Question for the community
Do you already know any of these companies in detail? Do you have ServiceNow, AppLovin, All for One or CHAPTERS in your portfolio or have you already analyzed them? How do you currently rate the risk/return ratio of these stocks?
Source
Inspiration: All about stocks Saturday episode with Frank Fischer
Data status: July 2025 (via stockanalysis, Yahoo Finance, Morningstar, company websites)
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9 Commentaires
I also listened to the episode - the fact that it was also about Servicenow and AppLovin somehow passed me by 🧐 Frank Fischer doesn't even have those two in his portfolio at the moment: https://www.shareholdervalue.de/frankfurter-fonds/frankfurter-ucits-etf-modern-value
I actually found Ashtead $AHT, Diploma $DPLM and Interpump $IP worth a second look after the presentations - I've put all three on my watchlist.
I actually found Ashtead $AHT, Diploma $DPLM and Interpump $IP worth a second look after the presentations - I've put all three on my watchlist.
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11Mo·
All for One Group
I find this position interesting, even in a weak economic situation.
Does anyone own this share or can report something constructive about it?
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2 Commentaires
11Mo
The SAP service provider plans to grow organically in the mid-single-digit range. The company is also targeting an EBIT margin of more than 8% from the 2025/26 financial year (as at September 30), adjusted for M&A effects. In the past financial year, turnover increased by 5% to EUR 511.4 million, with an adjusted EBIT margin of 6.7%.
One driver for higher profitability in the future is the change in the sales structure. The focus is increasingly on recurring monthly revenue from cloud subscriptions and associated services - i.e. software rental and supplementary services. This area has been growing at double-digit rates for years and will account for an increasingly large proportion of Group revenue. It currently accounts for 28%, compared to 18% six years ago. On the other hand, license sales from reseller activities, which are susceptible to fluctuations and currently account for 30% of total sales, are likely to decline further, explains CFO Stefan Land.
The IT service provider is benefiting considerably from the ongoing trend towards the cloud. All for One focuses primarily on medium-sized customers, which the company supports comprehensively: from migration to the cloud to software sales and individual services that provide unique selling points. Originally, the focus was on migrating the SAP infrastructure of existing customers to the cloud. However, it is interesting to note that around half of the RISE and GROW customers - SAP programs that help companies move to the cloud - are not regular customers, but completely new customers, says Land. "This shows that we are not only supporting our own customers, but are also increasingly acquiring new customers who were previously supported by other partners."
Investors are to benefit from the company's success: 40 to 50% of earnings per share (EPP) are to be distributed regularly as a dividend, says the CFO. A dividend of EUR 1.60 per share (EUR 61.60; DE0005110001) is proposed for the next payout after the Annual General Meeting (March 18). This currently corresponds to a yield of 2.6%. With a 2024/25 P/E ratio of 14 (10-year average: 22) and an expected EPS increase of around 15% this year, the All-for-One share remains attractive - also for newcomers.
One driver for higher profitability in the future is the change in the sales structure. The focus is increasingly on recurring monthly revenue from cloud subscriptions and associated services - i.e. software rental and supplementary services. This area has been growing at double-digit rates for years and will account for an increasingly large proportion of Group revenue. It currently accounts for 28%, compared to 18% six years ago. On the other hand, license sales from reseller activities, which are susceptible to fluctuations and currently account for 30% of total sales, are likely to decline further, explains CFO Stefan Land.
The IT service provider is benefiting considerably from the ongoing trend towards the cloud. All for One focuses primarily on medium-sized customers, which the company supports comprehensively: from migration to the cloud to software sales and individual services that provide unique selling points. Originally, the focus was on migrating the SAP infrastructure of existing customers to the cloud. However, it is interesting to note that around half of the RISE and GROW customers - SAP programs that help companies move to the cloud - are not regular customers, but completely new customers, says Land. "This shows that we are not only supporting our own customers, but are also increasingly acquiring new customers who were previously supported by other partners."
Investors are to benefit from the company's success: 40 to 50% of earnings per share (EPP) are to be distributed regularly as a dividend, says the CFO. A dividend of EUR 1.60 per share (EUR 61.60; DE0005110001) is proposed for the next payout after the Annual General Meeting (March 18). This currently corresponds to a yield of 2.6%. With a 2024/25 P/E ratio of 14 (10-year average: 22) and an expected EPS increase of around 15% this year, the All-for-One share remains attractive - also for newcomers.
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1Année·
First purchase 2025
A German company in the portfolio for a change.
In the wake of and quasi as a service provider for SAP, the conversion of numerous companies to current SAP components, which is necessary in the medium term, should ensure good figures. A solid business model, a fair valuation, good growth opportunities and, on top of that, a decent dividend convinced me.
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2 Commentaires1Année
As a leading SAP partner, All for One is benefiting from the current shift towards the cloud - and this is also reflected in the results for the past financial year.
In the 2023/24 financial year (ending September 30), All for One increased its sales by 4.8% to EUR 511.4 million. EBIT before M&A effects grew by 92.1% to EUR 34.0 million. Adjusted for the previous year's restructuring costs (EUR 8.4 million), EBIT growth amounted to a solid 29.8%. All for One thus achieved its corporate targets - sales of EUR 505 to 525 million and EBIT before M&A effects of EUR 32 to 36 million. The increase in recurring sales, which rose from EUR 266.3 million to EUR 283.2 million, is particularly positive. The ratio improved by 80 basis points to 55.4%.
CFO Stefan Land emphasized at the press conference on Monday (16.12.) that All for One will continue on its profitable growth path. In the medium term, the company is aiming for an EBIT margin of over 8% from financial year 2025/26. This compares to 6.7% in the previous year. These prospects make us confident for (DE0005110001).
@SCHLiCHTE_capital
In the 2023/24 financial year (ending September 30), All for One increased its sales by 4.8% to EUR 511.4 million. EBIT before M&A effects grew by 92.1% to EUR 34.0 million. Adjusted for the previous year's restructuring costs (EUR 8.4 million), EBIT growth amounted to a solid 29.8%. All for One thus achieved its corporate targets - sales of EUR 505 to 525 million and EBIT before M&A effects of EUR 32 to 36 million. The increase in recurring sales, which rose from EUR 266.3 million to EUR 283.2 million, is particularly positive. The ratio improved by 80 basis points to 55.4%.
CFO Stefan Land emphasized at the press conference on Monday (16.12.) that All for One will continue on its profitable growth path. In the medium term, the company is aiming for an EBIT margin of over 8% from financial year 2025/26. This compares to 6.7% in the previous year. These prospects make us confident for (DE0005110001).
@SCHLiCHTE_capital
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