Masterflex SE presents Annual Report 2024 + Dermapharm increases revenue and exceeds EBITDA forecast + Demand remains unbroken at CTS EVENTIM + Secunet Security Networks plans further growth

Masterflex SE $MZX (+1,02%)presents annual report 2024

• Record operating result achieved despite challenging economic environment
• Group revenue at EUR 98.1 million (previous year: EUR 101.1 million)
• Record EBITDA of EUR 18.2 million (previous year: EUR 17.9 million) and operating EBIT of EUR 12.7 million (previous year: EUR 12.6 million) achieved
• Operating EBIT margin improved again to 13.0% (previous year: 12.4%)
• Balance sheet quality significantly improved with an equity ratio of 67.7% (previous year: 61.5%)
• Dividend of EUR 0.27 per share planned for 2024 (previous year: EUR 0.25)
• Liabilities to banks reduced by 25%
• Forecast for 2025: sales of EUR 100 million to EUR 105 million and EBIT of between EUR 12 million and EUR 15 million expected

Dermapharm $DMP (+1,99%)increases sales and exceeds EBITDA forecast

• Group sales increase by 4.0 % to EUR 1,180.8 million
• Group EBITDA (unadjusted) increases by 10.2 % to EUR 308.9 million, unadjusted EBITDA margin is 26.2
• EBITDA (adjusted) of EUR 315.6 million corresponds to an adjusted EBITDA margin of 26.7 %, the adjustments of EUR 6.7 million are significantly lower than in 2023
• For the current financial year, Dermapharm expects further adjusted EBITDA growth at Group level to EUR 322 million to EUR 332 million with revenue of EUR 1,160 million to EUR 1,200 million and an improved EBITDA margin
• The Management Board will propose to the Annual General Meeting the payment of a dividend of 90 cents per share for the past financial year

At CTS EVENTIM $EVD (+2,58%)demand is unbroken

• Demand is unbroken, says Eventim CEO Klaus-Peter Schulenberg to the Frankfurter Allgemeine Zeitung (FAZ).
• "Eventim will continue to grow this year and is aiming for double-digit growth."
• With an adjusted EBITDA margin of 6.4 percent in the live sector, the company is a leader among global providers.
• "A year-on-year comparison is always difficult.
• Fluctuations are also related to the fact that event expenses are booked as costs long before the events.
• Income, on the other hand, is only booked after the event has taken place.
• Fluctuations are therefore inevitable.
• As a rule, however, we should achieve a margin of between 6 and 8 percent."
• The cost curve is flattening somewhat, while on the revenue side, efforts are being made to keep the base prices for group tickets stable.

Secunet Security Networks $YSN (+0,66%)wants to grow further

• The IT security company Secunet Security Networks wants to continue to grow in the current year.
• The company, which has been listed on the small-cap index SDax since the beginning of the week, announced on Friday that turnover is set to increase by just under five percent to around 425 million euros.
• The profit margin before interest and taxes should be between 9.5 and 11.5 percent.
• The market environment remains challenging, particularly in the public sector in Germany, due to the formation of a government following the federal elections.
• However, the order backlog at the beginning of the year is already higher than in the previous year.
• In addition, Secunet CEO Axel Deininger expects demand for security solutions to remain strong, "which should be particularly visible in the second half of the year."
• Secunet confirmed preliminary figures for the past year.
• Turnover rose from 393.7 million euros in the previous year to 406.4 million euros.
• At 42.5 million, earnings before interest and taxes (EBIT) were just below the previous year's level.
• The operating margin amounted to 10.5 percent.
• Below the line, Secunet earned 27.9 million euros after 29.0 million euros in 2023.
• Secunet had already announced a change of CEO in the coming year last Wednesday.
• Deininger's contract will not be extended beyond the regular expiry date of December 31, 2025.
• Marc-Julian Siewert is to be appointed to the Management Board from July and will then also be Deininger's designated successor.
• Secunet claims to be Germany's leading cybersecurity company and specializes in cloud security, among other things.
• Secunet's customers include federal ministries and more than twenty DAX-listed companies.

Friday: Stock market dates, economic data, quarterly figures

• ex-dividend of individual stocks
• Sartorius Vz. 0.74 EUR
• Sartorius St. EUR 0.74
• Swisscom 22.00 CHF
• British American Tobacco USD 0.75

• Quarterly figures / Company dates Europe
• 06:45 Basler annual result
• 07:30 Dermapharm | Dürr | GFT Technologies | Sixt Annual results
• 07:55 Energiekontor annual results
• 08:00 Secunet Security | Wüstenrot & Württembergische Annual results/
• 09:00 Wüstenrot & Württembergische Analyst Conference
• 11:00 Basler Investor Conference | HSBC Holdings Extraordinary General Meeting
• 13:00 Holcim Capital Markets Day
• 18:00 Deutsche Euroshop Annual Results

• Economic data

08:00 DE: GfK consumer climate indicator FORECAST: -22.5 points previously: -24.7 points | Employment February

08:00 UK: GDP (2nd release) 4Q PROGNOSE: +0.1% yoy/+1.4% yoy | Trade Balance January PROGNOSE: n.a. previous: -17.4 bn GBP

08:45 FR: Private consumption February FORECAST: n/a previous: -0.5% yoy/+0.4% yoy | Consumer prices (preliminary) March FORECAST: +0.4% yoy/+1.0% yoy previous: 0.0% yoy/+0.8% yoy

09:00 ES: HICP and consumer prices (preliminary) March HICP PROGNOSIS: n/a previous: +2.9% yoy

09:55 DE: Labor market data March seasonally adjusted unemployment rate FORECAST: +10,000 yoy previously: +5,000 yoy Unemployment rate seasonally adjusted FORECAST: 6.2% previously: 6.2%

10:00 EU: ECB, February consumer survey results

11:00 EU: Economic Sentiment Index March Eurozone Economic Sentiment Forecast: 97.0 Previous: 96.3 Industrial Confidence Eurozone Forecast: -10.6 Previous: -11.4 Consumer Confidence Eurozone Advance Estimate: -14.5 Previous: -13.6| Business Climate Index Eurozone March

13:30 US: Personal Spending and Income February Spending / Income FORECAST: +0.5% yoy/+0.4% yoy previous: -0.2% yoy/+0.9% yoy PCE Price Index / Total Rate FORECAST: +0.3% yoy/+2.5% yoy previous: +0.3% yoy/+2.5% yoy PCE price index / core rate PROGNOSE: +0.3% yoy/+2.7% yoy PREV: +0.3% yoy/+2.6% yoy

14:00 DE: ECB Governing Council member Nagel, participation in panel discussion on "Inflation expectations and reality: implications for the last mile of disinflation"

15:00 US: Consumer Sentiment Index Uni Michigan (2nd survey) March PROGNOSIS: 57.9 1st survey: 57.9 previous: 64.7

Analyst updates, 22.11.

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- WARBURG RESEARCH raises the price target for SYMRISE from EUR 115 to EUR 116. Hold. $SY1 (-0,1%)

- HAUCK AUFHÄUSER IB upgrades SECUNET from Hold to Buy and raises target price from EUR 102 to EUR 123. $YSN (+0,66%)

- CITIGROUP raises the price target for ALSTOM from EUR 22 to EUR 26. Buy. $ALO (+1,49%)

- BERENBERG upgrades BRENNTAG from Hold to Buy. Target price EUR 76. $BNR (+4,38%)

⬇️⬇️⬇️

- WARBURG RESEARCH lowers the price target for PROSIEBENSAT.1 from EUR 8 to EUR 6.50. Hold. $PSM (-0,25%)

- WARBURG RESEARCH lowers the price target for RTL from EUR 40 to EUR 34. Buy. $RTLL (+0,56%)

- LBBW lowers the price target for LANXESS from EUR 29 to EUR 28. Buy. $LXS (+1,62%)

- HAUCK AUFHÄUSER IB lowers the price target for CTS EVENTIM from EUR 107 to EUR 105. Buy. $EVD (+2,58%)

- HAUCK AUFHÄUSER IB lowers the price target for BEFESA from EUR 38 to EUR 35. Buy. $BFSA (+1,96%)

- BERENBERG lowers the target price for RENK from EUR 35 to EUR 33. Buy. $DE000RENK730 (-0,44%)

- UBS lowers target price for RWE from EUR 49 to EUR 45. Buy. $RWE (+0,06%)

Analyst updates, 15.11. 👇🏼

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- JEFFERIES raises the price target for ASML from EUR 760 to EUR 840. Buy. $ASML (-0,08%)

- RBC raises the price target for TESLA from USD 249 to USD 313. Outperform. $TSLA (+10,24%)

- JPMORGAN raises the price target for WALT DISNEY from USD 125 to USD 128. Overweight. $DIS (+0,35%)

- JPMORGAN raises the price target for SIEMENS from EUR 215 to EUR 230. Overweight. $SIE (+3,19%)

- BARCLAYS raises the target price for SIEMENS ENERGY from EUR 21 to EUR 35. Equal-Weight. $ENR (+2,01%)

- LBBW raises the target price for EON from EUR 13.80 to EUR 13.90. Buy. $EOAN (-0,76%)

- HAUCK AUFHÄUSER IB raises the target price for ADESSO from EUR 80 to EUR 85. Hold. $ADN1 (-1,3%)

- DEUTSCHE BANK RESEARCH raises the target price for BURBERRY from GBP 7.40 to GBP 8.60. Hold. $BRBY (+1,47%)

- BERENBERG raises the price target for TALANX from EUR 76.20 to EUR 91.10. Buy. $TLX (+1,29%)

- BERENBERG raises the price target for HAPAG-LLOYD from EUR 163 to EUR 169. Hold. $HLAG (+0,7%)

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- JPMORGAN lowers the price target for BAYER from EUR 34 to EUR 25. Neutral. $BAYN (+3,54%)

- SANTANDER downgrades SHELL from Neutral to Outperform and lowers target price from GBP 30.50 to GBP 30. $SHEL (+1,27%)

- WARBURG RESEARCH lowers the price target for SECUNET from EUR 216 to EUR 210. Buy. $YSN (+0,66%)

- METZLER lowers the price target for SIXT-STÄMME from EUR 105 to EUR 95. Buy. $SIX2 (+1,5%)

- ODDO BHF lowers the target price for MERCK KGAA from EUR 187 to EUR 176. Outperform. $MRK (+3,78%)

- METZLER lowers the price target for SMA SOLAR from EUR 20 to EUR 16. Hold. $S92 (+3,11%)

- DEUTSCHE BANK RESEARCH lowers the price target for GRENKE from EUR 28 to EUR 24. Buy. $GLJ (+0,88%)

- BERENBERG lowers the target price for K+S from EUR 15.70 to EUR 14.70. Buy. $SDF (-0,35%)

- BERENBERG lowers the price target for AUMANN from EUR 17 to EUR 14.50. Hold. $AAG (+0,37%)

- BERENBERG lowers the price target for DERMAPHARM from EUR 58 to EUR 50. Buy. $DMP (+1,99%)

- BARCLAYS lowers the price target for SYMRISE from EUR 123 to EUR 115. Equal-Weight. $SY1 (-0,1%)

Hello everyone,

I would also like to introduce myself and my portfolio briefly and concisely.

I've been a silent reader for a few months now. Now it's time to reveal a bit about myself.

About me:

My name is Sebastian, I'm 30 years old and I live in Bavaria. I live with my girlfriend in a house I inherited from my parents. I work in the business world as a mechanical engineer.

I can't say exactly when I started investing. I probably started about 4-5 years ago by participating in share bonus programs through my work. Otherwise, my investments have been steadily increasing since the coronavirus era. I was mainly triggered by Finfluencer. There are good and bad things about that. Good: I started investing. Bad: I bought a lot of things stupidly/blindly. I'm now trying to straighten that out and no longer follow such people.

Monthly savings rate approx. 2.5 to 3.0 k€.

I am not fully invested. I have and will continue to have a good cash position.

About the portfolio:

The aim is to create a healthy mix of growth, dividends (growth) and a stable, healthy basis. The dividends also serve somewhat as a "bonus".

As mentioned above, I have (or had) some stocks in my portfolio that I was/am not satisfied with and which I have therefore recently cleaned out and reallocated the freed-up capital. The reorganization process is still ongoing. Roughly speaking, I would generally like to have fewer individual stocks in my portfolio and will shift the weighting to ETFs.

About the individual stocks in the portfolio:

• $IUIT (+1,49%) This is a pillar of my portfolio. It runs with a monthly savings plan for €1000. The idea behind it is an ETF that gives me a good return and ideally outperforms "world ETFs". Sure, it's an ETF from one sector, but I think that's fine. The savings plan will continue to run.
• $HMWO (+0,66%) Also a pillar of my portfolio. Runs with a monthly savings plan for €1000. My selected "World ETF". Savings plan will continue to run.
• $XAIX (+1,42%) I am unsure about this. Also a sector ETF. Runs with a savings plan of €250 per month. Also technology-heavy. I'm thinking about cashing it out to compensate for the losses and to take profits from the current tech hype.
• $SHL (+2,68%) Largest single share position. Created through the share program mentioned above. 250€ monthly savings installment. The shares are sold selectively as soon as all the conditions of the program have been met and I have received maximum bonuses. I then switch directly to other stocks so that the SHL position does not become too large.
• $KO (-0,72%) It has recently become a pillar of my portfolio. Dividend growth, acceptable share price growth, few fluctuations. I like it. Will not be expanded for the time being.
• $MCD (+0,23%) See CoCa Cola. Has recently become a pillar of my portfolio. Dividend growth, acceptable share price growth, few fluctuations. I like it. I also see the share as strong in the real estate sector. Falling interest rates could trigger another good move here. Will not be expanded for the time being.
• $GOOGL (-1,98%) difficult. It has performed well, but is now considering realizing profits. Through my ETFs. I already have this stock indirectly in my portfolio. However, I have deliberately increased the weighting of this individual stock in my portfolio. Rather than buying more, I would rather take profits. However, I would add to it again after a correction.
• $MC (+0,33%) To be further expanded. Target 10k in the portfolio. I used the last small price slide as an additional purchase. Long-term investment. Will be bought at the next opportunity.
• $AMZN (+0,25%) See Google. I already have this stock indirectly in my portfolio. However, I have deliberately increased the weighting of this individual stock in my portfolio. Rather than buying more, more profit-taking. However, I would add to it again after a correction.
• $JNJ (-0,01%) To be further expanded. Target 10k in the portfolio. Dividend growth, acceptable share price growth, few fluctuations. I like it.
• $PG (+1,18%) Recently added to the portfolio. This stock should give the portfolio further stability. Target of €10k in the portfolio.
• $V (-0,06%) Recently added to the portfolio. This value should give the portfolio further stability. Target of €10k in the portfolio.
• $NKE (-0,18%) Difficult position. The recent dip was hard. Outlook also not good, if not bad. As things stand, I would like to sell this share. But I am reluctant to sell with a loss of just under € 1k. I will probably hold on for a while and then decide objectively. I had invested a little here after the dip in order to take advantage of a potential countermovement. I could have saved myself the trouble...
• $BLK and $TROW (-1,3%) same segment. I would like to decide on a share here and then expand it into a pillar of my portfolio. But which of the two...?
• $SBUX (-0,25%) Doesn't really fit into the portfolio anymore. The outlook isn't great either. I will probably sell it at +-0€ and shift the capital into a position to be expanded.
• $MPW (-0,62%) Legacy and memorial! Will continue untouched for now.

Of course, there have also been some failures so far, some of which have depressed performance considerably.

Any examples?

$YSN (+0,66%) : -36,80%

$PLUG (-5,33%) : -61,58%

$PYPL (+1,18%) : -14.68% (good luck for bad luck...)

$NKE (-0,18%) and $MPW (-0,62%) can probably be counted as well.

That's it. It has become a smaller wall of text. Sorry for that.

Feel free to give me feedback on my thoughts and the portfolio.

Have a nice weekend everyone!

Share analysis/share presentation ⬇️

Today we are talking about the company Secunet: $YSN (+0,66%)

What is Secunet and what does it do?

Secunet is a German company that specializes in IT security and high-security solutions. Among other things, they offer products and services in the field of IT security, such as encryption technologies, secure communication systems and identity management. Secunet works closely with governments, authorities and companies to protect their IT infrastructures from cyber attacks and ensure information security.

Market capitalization:

Secunet currently has a market capitalization of around 855.4 million euros.

Strengths of the share:

Some of Secunet's strengths:

- Outstanding specialization in IT security and high-security solutions

- Broad range of innovative encryption technologies and secure communication systems

- Strong focus on customized identity management

- Close cooperation with governments, authorities and companies for individual security solutions

- Expertise in protecting against cyber attacks and ensuring information security

Weaknesses of the share:

Here are some of Secunet's weaknesses:

- Limited market presence compared to larger IT security companies

- Potentially higher costs for their specialized security solutions

- Challenges in adapting to fast-moving technology trends

- Competitive pressure from established and emerging companies in the industry

- Possible dependence on government contracts, which could affect revenue stability

A little more about the business model:

Secunet's business model is based on the provision of highly specialized IT security solutions and high-security systems. The company focuses on the development and implementation of encryption technologies, secure communication systems and individual identity management. Secunet works closely with governments, authorities and companies to provide customized security solutions that meet the specific requirements and needs of its customers.

By specializing in IT security, Secunet positions itself as an expert in protecting against cyber attacks and ensuring information security. The company pursues a customer-oriented approach and works closely with its partners to develop innovative solutions that meet the ever-increasing security requirements.

Secunet strives to expand its market presence and continuously develop its technologies to proactively counter the changing threats in the digital world. Despite some challenges such as competitive pressure and adapting to new technology trends, Secunet remains committed to providing its customers with high-quality security solutions and establishing itself as a trusted partner in the field of IT security.

A little more about the industry:

Secunet operates in the IT security industry, which is concerned with developing technologies to defend against cyberattacks and protect sensitive data. This industry is crucial for governments, authorities and companies as they need security solutions to protect themselves from digital threats. Secunet focuses on highly specialized security solutions and works closely with customers to meet their individual security requirements. By constantly developing technologies and adapting to new threats, Secunet plays an important role in the IT security industry.

When and where was Secunet founded?

Secunet was founded in Germany in 1997 by Dr. Rainer Baumgart. The company is headquartered in Essen and has specialized in the development of highly specialized IT security solutions since its foundation. Over the years, Secunet has established itself as a leading provider of security technologies and works closely with governments, authorities and companies to meet their security requirements. The founding of Secunet marked the beginning of a company focused on defending against cyber-attacks and protecting sensitive information.

Secunet's goal:

Secunet's goal is to develop highly specialized IT security solutions to effectively protect governments, authorities and companies from cyber attacks. The company strives to create innovative technologies that can counter the ever-growing threats in the digital space. Secunet works closely with its customers to provide customized security solutions to ensure reliable protection of sensitive data. Through continuous development and adaptation to new security challenges, Secunet plays a significant role in the IT security industry.

Your opinion:

Now I would like to hear your opinion on this stock in the comments.

I personally find the company very interesting and will continue to monitor it. It was an unknown company to me until recently, but that's exactly why I wanted to introduce the share to you.

What do you think of Secunet and were you already familiar with this company?

Do you already have the share in your portfolio?

Please let me know in the comments.

Of course, this is not investment advice but just my own opinion that I would like to share with you.

Small additional purchase👌 Not seen such a price for Datagroup for a long time. Position full for now with 40 shares. The next step will be $YSN (+0,66%) buy more.

Wanted to share my portfolio with you. Been investing since May 2020. 25 years old, full-time job and I buy and sell cars from time to time. Have a mix of growth stocks and dividend stocks. This year I will invest more outside the US to reduce the US share a bit. I will mainly $D6H (+0,09%)
$YSN (+0,66%) buy more. New additions will be: $WKL (-1,51%)
$1913 (+0,56%)
$CNQ (+0,66%) After all the purchases have been made, I will increase all positions below 1k.

Hey community, how do you rate the development of $YSN (+0,66%) ? Today it was announced that there is a significant correction in the profit forecast. I don't think there is any question, but fear that this is the start of a price slump.

+++ Signs of life +++

(from the series: Investment Diary & Thoughts)

Knee surgery survived last week. 🩼

Whether good, is the other question... 😣 In the meantime got postoperative fever, knee still swollen, probably needs to be punctured again... and otherwise so?

I lie around the whole day, meow at my wife from time to time (which I feel sorry for again seconds later, because she certainly can't help it...) and then I think to myself:

Look again in your depot. But no, I don't feel like it. Health and all that. That comes first.

Now I fell so when planking on the sofa suddenly my own trains of thought to the topic invest. And the decision is made after 2 days:

I will make my investing even simpler and less complex.

What follows:

Nearly all BigBlueChips are sorted out and shifted into the MSCI World & MSCI EM. After all, they are represented there anyway, so why bother with them?

What remains for the pension is the MSCI World ($IWDA (+0,64%) ) , MSCI EM ($EIMI (+0,13%))and EUWAX GOLD II ($EWG2 (-0,94%) ).

In addition, I focus on 5 (max. 7) individual stocks. According to the current status these include $ST5 (+1,7%) (Steico SE), $NIBE B (+0,08%) (NIBE "is love"); $YSN (+0,66%) (Secunet); $UKW (+0,38%) (Greencoat for ever - or what better comes); $COLO B (+2,09%) (Coloplast) and $MRK (+2,21%) (Merck KGaA).

Over the years, I have become less and less interested in more.

Investing remains important. But please make it as boring as possible.

The last weeks alone (preparation for surgery and now the aftercare) have shown me that I am not ready for this and especially not able to keep track of 15-20 values. Thus, the focus on investing as simple as possible and still preserve individual value opportunities for me has become more attractive again.

Maybe this will actually create opportunities for the activated trading of 1-2 values from the basic framework... if not, also not so wild. And yet I will be able to focus even better on these values.

Concentrating on a few individual values and a really large core (I'm also talking about more than 150k€ in the core here) is the true core-satellite strategy for me. That I had neglected this over the years somewhat, or expanded - normal. So now "back to the roots", or "back to simplicity".

Time is not money, but valuable in terms of family, free time and your own health.

And otherwise so?

Soon the physiotherapy will start. I have no idea how to cope at the moment, but that will come.

I still have the post on hold for the "Green Investment" and the resolution (win pronounced in the poll) of the winner of the getquin-Cap. Both of which I have not forgotten. As soon as I can sit reasonably, without problems, I will get back to writing.

To getquin I will certainly become more active again, I have time now. At least 8 weeks (with good progress) is a long time.

So, keep your head up, dad is doing it too....

Your KneePapa. 🦵

$YSN (+0,66%)

what is your opinion about Secunet? A purchase for you?