1Settimana·

Expert on the fear of sea mines: "The risk is enormous" Which company will benefit

Hello my dears,

At the weekend I did a little research on the subject of sea mines. And found one of the market leaders for you, whose systems are indispensable for disposal. Many of you will already be familiar with the company, or perhaps have already invested in it.

Unfortunately, I missed my entry yesterday due to further research. And by the end of the day, the share price had already risen by 8%.

It seems that some others also believe in my thesis.

Even after the end of the war, the topic of sea mines will not disappear and will remain in focus.

Furthermore, the company is about much more than just sea mines. We also have a player here in the growth area of Space and satellites.

Even though I am already invested in $PNG (-5,06%) Kraken Robotic, I see a good addition here. Because I'm also still looking for a drone player.

I also like the chart.

Yes, my dears, the company is no longer cheaply valued.

But due to the growth and the growth sectors, I still see good potential here.

What do you think?

Iran has started laying sea mines in the Strait of Hormuz, which poses a major threat to shipping and exacerbates international tensions.

According to Moritz Brake (maritime security expert and reserve officer in the German Navy), the danger posed by sea mines in the Strait of Hormuz was a major issue even before the war began. Even older mine technology was sufficient to endanger modern merchant ships.

"On the ship, the captain has first and foremost responsibility for his crew"

Military security would also be costly: First, mines would have to be cleared, then warships would accompany the freighters and fend off attacks from the air or from the water. Nevertheless, there can be no such thing as complete security, says Brake.

$EXA (-1,32%)

The specialist for underwater drone systems Exail Technologies is a leader in the field of mine clearance and has a record order backlog of 1.1 billion euros!

Updated on 08.12.25

The market for maritime underwater systems, in particular autonomous underwater vehicles (AUVs), is at a turning point and is revolutionizing the way underwater operations are carried out in the fields of defence, scientific research, but also seabed mapping.
are carried out.

Exail Technologies is a highly specialized technology group based in France that has achieved remarkably dynamic growth and numerous milestones in major contracts, innovation and its financial strategy so far in 2025. Exail Technologies is a vertically integrated autonomous systems group: Its focus is on maritime robotics (drones, sensors, mission software) and inertial navigation systems (based on fiber optics, gyroscopes and laser photonics).

Exail Technologies is an industrial company specializing in cutting-edge technology in the fields of autonomous robotics, navigation, aerospace and photonics. With a strong entrepreneurial background, Exail Technologies guarantees performance, reliability and safety to both civilian and military customers working in harsh environments. From the depths of the ocean to the remotest corners of space, the Group enhances its customers' capabilities with components, products and systems. Exail Technologies operates in nearly 80 countries.

Number of employees: 2,059

Exail Technologies is a leading high-tech champion with a strong with a strong entrepreneurial culture. The group was created in 2022 through the convergence of ECA Group and iXblue and shares a common DNA of entrepreneurship.

Exail Technologies is one of the few medium-sized companies in the defense sector in Europe. This enables the company to have both the decisive scale to win large programs of several hundred million euros and the agility to move quickly and innovate in high-tech markets.

As a family-run company under the leadership of Raphaël Gorgé, Exail Technologies has a long-term perspective on value creation. This creates the solid foundation for a culture of innovation and the ability to continue to push the boundaries of science and take our technological excellence to new heights.

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CORPORATE PRESENTATION

PowerPoint Presentation

Geographical distribution of sales:

Year 2024 (EUR)

Europe 139 million

France 89.22 million

Asia 52.81 million

Americas 35.18 million

Africa 2.25 million

Oceania 4.55 million

EUR in millions

Estimates

Year Turnover Change

2024 373,1 15,56 %

2025 477,9 28,09 %

2026 572,1 19,71 %

2027 711,8 24,42 %

Year EBIT Change

2024 73,82 13,39 %

2025 103,7 40,54 %

2026 132,4 27,57 %

2027 179 35,24 %

Year Net result Change

2024 -3,641 -122,92 %

2025 14,72 504,4 %

2026 32,43 120,26 %

2027 35,71 102,62 %

Year Net debt CAPEX Leverage ratio

2024 258 33,93 3,49x

2025 244 40,3 2,35x

2026 242 44,56 1,83x

2027 178 49,14 0,99x

Year Free cash flow change

2024 57,47 141,1 %

2025 38,4 -33,19 %

2026 46,63 21,44 %

2027 65,3 40,03 %

Year EBIT margin ROE

2024 12,2 % -2,92 %

2025 15,15 % 10,79 %

2026 17,04 % 16,66 %

2027 19,64 % 22,81 %

Year Earnings per share Change

2024 -0,2142 -122,97 %

2025 0,8492 496,45 %

2026 1,718 102,31 %

2027 3,32 93,25 %

Year P/E ratio PEG

2024 -81x 1x

2025 150x -0x

2026 74.3x 1x

2027 38.4x 0.4x

Market value 2,166

Number of shares (in thousands) 16,972

Date of publication 25.03.2025

Sector comparison

(Source Onvista) EXAIL Kratos Kraken Rob.

Earnings p share

2026 1,47 0,25 0,0833

2027 3,41 0,49 0,11

2028 4,34 0,61

Profit growth (%)

2026 +110,71 +123,08 +160,41 %

2027 +121,02 +89,66 +32,01 %

2028 +37,27 +15,36

P/E RATIO

2026 86,91 304,15 114

2027 37,43 157,77 86,2

2028 29,39 124,96

PEG

2026 +0,62 +3,28 +1

2027 +1,37 +6,01 +2,7

2028 +0,62 +2,92

Performance

1 week +1.43 %

1 month +14.54 %

6 months +10.19 %

1 year +308.32 %

3 years +557.73 %

5 years +754.08 %

7 years +1,088.08 %

@Get_Rich_or_Die_Tryin
@Multibagger
@Klein-Anleger
@schlimmschlimm
@HoldTheMike
@Derspekulant1
@Liebesspieler etc.

$EXA (-1,32%)

19 Commenti

Get_Rich_or_Die_Tryin@Get_Rich_or_Die_Tryin

1Settimana

I've known it for a long time, of course, and I think we've even discussed it before. Logically, it came onto my radar during my market leader research in the defense sector. But despite all the necessity and operational excellence, the valuation is simply absolutely dizzying.

That's why I was so happy about your idea of $EXENS at the time.

I think Exail is mega, but the valuation leaves much more room for downside than upside in my view.🫣

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Tenbagger2024@Tenbagger2024

1Settimana

@Get_Rich_or_Die_Tryin Hello dear. I'm thinking about getting in before the figures. I think we were put off by the valuation issue when we first exchanged shares last year. And we missed out on some performance due to our hesitation. Similar to perhaps palantir. Because I knew that the issue of valuation would come up. In the end, I made a sector comparison. And the company is still doing quite well. One valuation that I have always been able to rely on in the past is the PEG, and I like that here. And also the forward P/E ratio. As I could imagine that the figures could surprise, I am still considering an entry beforehand. In terms of the chart, the old high has now been overcome. What do you think of my thesis? I don't think the share should fall much further. Especially because of the current situation in Iran

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Get_Rich_or_Die_Tryin@Get_Rich_or_Die_Tryin

1Settimana

@Tenbagger2024 Correct, the issue of valuation was also our obstacle last year or at the beginning of this year.😅🫣

Sure, the comparison is extreme anyway if you look at the peers with Kraken and Kratos. Basically, I think your thesis is valid, you can definitely do it that way, I think.

Personally, I would hope that it will come back a little more clearly below €130, today the path to that looks feasible. I don't know when the figures will come out and to be honest, the margin profile is also too thin for me, with a net margin of around 5% there is virtually no room for executive fails.😖

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Tenbagger2024@Tenbagger2024

1Settimana

@Get_Rich_or_Die_Tryin figures come at the end of the month. And I see the margins a little differently to you. I still see enormous potential in the margins in particular, and I could well imagine them doubling over the years. Which would then really make itself felt in the net result. That's why I don't see the current margin as negative. But rather as an opportunity

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Tenbagger2024@Tenbagger2024

1Settimana

@Get_Rich_or_Die_Tryin Take a look at the margins at Kraken Robotic. I think you could achieve the same with Exail. I still see potential in the margins in particular

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Get_Rich_or_Die_Tryin@Get_Rich_or_Die_Tryin

1Settimana

@Tenbagger2024 Unfortunately, the majority of naval orders, which is what we are talking about here, run the risk of being delayed, sometimes significantly, during execution.

I'm not saying that this necessarily has to happen, but due to the thin margins, the risk cannot be dismissed in my view.🤷🏼‍♂️

And of course, margins can go completely in the other direction in the near future, but the risk of margin compression at the current level if even one major order goes wrong is much closer in my view.

In the long term I tend to agree with you, in the short term I don't see the overall profile at the current valuation level as ideal for an entry.

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Tenbagger2024@Tenbagger2024

1Settimana

@Get_Rich_or_Die_Tryin Didn't you want to tell us about your new strategy?

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Tenbagger2024@Tenbagger2024

1Settimana

@Get_Rich_or_Die_Tryin The profit flow chart is also an older one. Next year, the EBIT margin will be almost 20%. I don't think that's bad for an industrial company. Look at the aircraft or satellite companies with their thin margins, if they have any at all. You also have to leave the church in the village

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Get_Rich_or_Die_Tryin@Get_Rich_or_Die_Tryin

1Settimana

@Tenbagger2024 No, my dear, I don't have to leave the church in the village.🤷🏼‍♂️

My approach to investments, the parameters on which I base my valuation. I justify them with arguments. That may or may not suit you, that's what a forum thrives on, the exchange and different points of view.😊

And from my point of view, nobody needs to be convinced if they have a different approach and feel comfortable with it.😘

And: that's also one of the reasons why I'm not currently invested in any aircraft manufacturer or satellite company.😉

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Get_Rich_or_Die_Tryin@Get_Rich_or_Die_Tryin

1Settimana

@Tenbagger2024 Yes, I wanted to. Still to come. Just zero time for a comprehensive post at the moment.😩

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Get_Rich_or_Die_Tryin@Get_Rich_or_Die_Tryin

1Settimana

@Tenbagger2024 and I have never badmouthed the EBIT margin.😉

But net and FCF are just thin. There are also industry picks where both offer "more leeway".

That's all I wanted to say, no more and no less.😘

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Keineui@Keineui

1Settimana

Looks really good and I like your comparison. I also think that the margin will tend to increase and therefore there is potential. Off to the list

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Klein-Anleger@Klein-Anleger

Hi, I had actually investigated the value before and still have it on the WL. But I decided in favor of $PNG because I see higher growth and more room for upside ;) The valuation of Eaxail is not exactly underground either... Thanks for your introduction anyway!!! 😉

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Pedro 🇵.@pedro_rodrigues

1Settimana

What is your opinion about $BYRN ? Thanks in advance!

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Tenbagger2024@Tenbagger2024

1Settimana

@pedro_rodrigues According to the RSI, the bottom could slowly be found. Fundamentally and in terms of valuation really nice

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Pedro 🇵.@pedro_rodrigues

1Settimana

@Tenbagger2024 Okok thanks!! :)) I believe it is a good project but it is good to see what experts think 👌

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Marto@Maddy-0

Very exciting but also highly valued. Can you say something about $SYM?

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Tenbagger2024@Tenbagger2024

@Maddy-0 I like it, I don't think you can look at the valuation. According to the RSI, some strength is coming in again

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Tenbagger2024@Tenbagger2024

@Maddy-0 I was in $AVAV which is valued even higher, I think $EXA could be a good alternative. But I think the price should come down a bit more

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