Company: Compleo Charging Solutions
List: XETRA, Frankfurt
Market cap: € 45,5 MEUR at time of publication
Share price: € 9,43 at time of publication
Industry: Electric charging solutions
Market size: $25 Billion USD
Compleo has surprisingly been one of the worst performing ESGFIRE stocks this year. Our position is currently down about 48 % and the share is down with 84 % for 2022 year to date. However we currently have faith that this will , long term, be an excellent investment for the ESGFIRE portfolio. Below you will find a peer valuation comparison.
Altough Compleo did state recently that growth for 2022 would be a little bit lower for 2022 than expected they still reaffirmed that their target of 500 MEUR in sales and EBITDA margins of 10-15 % remains unchanged.
The company today 30/9 2022 announced they would be closing their two production sites in Paderborn and Schlangen to concentrate all production to their main site in Dortmund.
ESGFIRE thinks this is a smart move which will save the company alot of money and will shorten their parth to profitability. Although no figures are mentioned by the company what this change means in terms of savings we do expect it will long term have a very positive effect on the end results. The main production facility in Dortmund is 5,100 m² is almost twice as large as the two sites closing.
The company stated in May of 2022 that they for the coming years expect a significant increase in profitability. The company plans to increase ebitda margins to 10-15 % . If they reach their target of 500 MEUR in sales by 2025 which is less than 3 years away it would equal an EBITDA of 50-75 MEUR.
We have continued to buy more shares in Compleo and will continue to do so if the valuation goes down even further.
Below is a EV/SALES multiple comparison of industry Peers for 2022:
Compleo Charging solutions : 0,4 X for
Chargepoint holding inc: 1o,6 X (for 2023*)
Blink charging Co: 16,8 X
Nuvve Holding Corp: 2,89
Wallbox NV: 6,48 X
Beam Global: 6,81 X
Volta Inc: 5,59 X
Garo: 3,18 X
Remember Investing 101
How a company is performing fundamentally does not always correlate with the stock price!
Link to full press release below :
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