First of all, the manufacturer of battery systems for commercial vehicles had to struggle with delivery stops in Q1 because series customers shut down production. As a result, sales dropped by 12.1% to EUR 8.0 million. The EBIT slipped into the red because of the lower revenues and at the same time higher investments in organic growth with 2.4 million euros.
But CFO Carsten Bovenschen expects “quite clear catch-up effects” in the course of the year. The order books are full, and the Darmstadt-based company has never stopped production. Thanks to the increased inventories, which are reflected in the 27.7% increase in total output to EUR 12.9 million, there is no fear of a delivery delay in the second half of the year. A forecast for the FY. However, the board cannot manage. The further development of the pandemic is too unclear, so significant impairments cannot be ruled out.
Stock marketers are more confident: The share (39.93 euros; DE000A2JNWZ9) dropped approx. 2% too. For a short time, the paper jumped above the € 40 mark it has been struggling with since the end of April. A sustainable breakthrough of this resistance should give the secondary value a noticeable tailwind.
We therefore stick to our buy recommendation for Akasol with a stop at 28.90 euros.
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