LAIQON AG Sees Strategic Growth Amid Financial Restructuring

Preliminary results for FY25 reveal that LAIQON AG's performance was weaker than expected in the second half, especially in sales and EBITDA. Despite this, the company continues to expand its platform, aided by contributions from MainFirst and growth in Digital Wealth. Notably, the decrease in EBITDA reflects restructuring costs, indicating a transition phase focused on integration and scalability.

The company's H2 sales grew 28% year-over-year, primarily due to MainFirst's first-time contribution. On a full-year basis, revenues rose 43%, showcasing the company's strong trajectory. However, profitability faced temporary challenges, with H2 EBITDA affected by one-off expenses totaling approximately €2.5 million.

Encouragingly, client inflows in Digital Wealth are increasing, supported by partnerships with cooperative banks. Over 100 banks are connected, indicating ongoing activation potential. This momentum, along with strategic restructuring, positions LAIQON for future growth, with an unchanged buy rating and a target price of €9.1.