Baumot: course target collapses

In 2019, Baumot’s turnover rose from 6.19 million euros to 15.12 million euros. Things went very well in the EU and Israel. The EBITDA improved from -6.14 million euros to 0.15 million euros. The bottom line was that Baumot made a profit of 0.13 million euros (previous year: -9.2 million euros).

In 2020, sales are expected to be 6.4 million euros. The pandemic is clearly noticeable. Accordingly, Baumot recently massively reduced its expectations for the current financial year. By then, sales of around 20 million euros and an EBITDA of 0.4 million euros are expected. There is no new EBITDA forecast.

For 2020 the analysts from GBC also expect sales of 6.4 million euros. 2021 should bring a turnover of 12.0 million euros. In 2022 it should be 25.6 million euros. There should be impulses mainly from Israel, Italy and Great Britain. Car retrofitting is also to start in Germany from 2022.

The experts see EBITDA at EUR -6.03 million in 2020. In 2021 it is expected to improve to -2.61 million euros.

From the point of view of the experts, 2020 will be heavily influenced by Corona, and parts of 2021 will still be affected by the pandemic.

The experts give a hold recommendation (previously: buy recommendation) for the shares of Baumot. The price target drops from EUR 3.13 to EUR 1.00.

Baumot shares gain 0.1 percent to EUR 0.88 at noon.


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