06.07.2021 Cryptology Asset Group PLC  MT0001770107

Original-Research: Cryptology Asset Group PLC (von GBC AG): BUY


 

Original-Research: Cryptology Asset Group PLC - von GBC AG

Einstufung von GBC AG zu Cryptology Asset Group PLC

Unternehmen: Cryptology Asset Group PLC ISIN: MT0001770107

Anlass der Studie: Initial Coverage Report Empfehlung: BUY
seit: 06.07.2021
Kursziel: 358.43 EUR
Kursziel auf Sicht von: 31.12.2022
Letzte Ratingänderung: -
Analyst: Felix Haugg, Julien Desrosiers

'Leading European investment firm for crypto assets and blockchain companies.'

'Strong holdings offer high upside potential.'

Cryptology Asset Group plc was founded in January 2018 by Christian Angermayer's family office, Apeiron Investment Group Ltd, crypto legend Mike Novogratz and Joram Voelklein. This Malta-based investment company focuses on blockchain technology as well as cryptocurrencies. The company's strategy is to become the leading European investment company for crypto assets and blockchain-based business models.

In order to achieve its self-imposed goal of becoming the leading Europeaninvestment company, the company pursues a collaborative approach in its activities and works together with the leading crypto investors. Through this global network, Cryptology has a broad economic and technical know-how, which is used, among other things, to support young companies in the areas of foundation, financing, growth and, if necessary, sale. Financial investments are generally made either in the form of equity or convertible loans, which can be converted into equity at a later date.

The current portfolio of the Cryptology Asset Group comprises six investments. Currently, the most important holdings are Block.one, the issuer of the blockchain protocol EOS as well as the founder of Voice.com and the trading platform Bullish and at the same time is one of the world's largest Bitcoin holders, and Northern Data, a leading high-performance computing (HPC) provider and Bitcoin mining host. Other investments include global crypto-asset management group Iconic Holding, commission-free neobrokernextmarkets, geo-data platform provider Cloudeo, and Bitcoin micropayments payment platform Bottlepay.

Since its foundation in 2018, Cryptology Asset Group has shown very positive development, despite the highly volatile market environment. This development is also reflected in their revenues. Basically, Cryptologygenerates reve-nues from the sale of held-for-trading assets, cryptocurrencies and tokens as well as from consulting services. In the completed 2020 financial year, the company generated revenues totalling EUR2.55 million. In addition, Cryptology generated income from the sale of AFS assets (available-for-sale) in the amount of EUR8.70 million. Thus, an EBIT of EUR 10.26 million was generated.

We have valued Cryptology Asset Group plc by calculating the net asset value (NAV). Taking into account all investments, the GBC fair NAV valuation as of July 05, 2021 is EUR1.04 billion, resulting in a NAV per share of EUR358.43. At a stock market price of EUR 163.00, this results in a discount to the NAV of approx. 55% or a price potential of approx. 120%.

Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/22641.pdf

Kontakt für Rückfragen
GBC AG
Halderstraße 27
86150 Augsburg
0821 / 241133 0
[email protected]
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Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR. Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,5b,6a,6b,7,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung
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Date (time) of completion of English version: 05/07/2021 (02:58 pm) Date (time) of first distribution of English version: 05/07/2021 (10:00 am)

-------------------übermittelt durch die EQS Group AG.-------------------

Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.



Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 0,00 2,57 14,81 2,55 13,20 89,71 0,00
EBITDA1,2 0,00 -1,75 2,53 10,64 34,90 5,31 0,00
EBITDA-Marge3 0,00 -68,09 17,08 417,25 264,39 5,92
EBIT1,4 0,00 -1,75 2,53 10,62 34,90 -2,03 0,00
EBIT-Marge5 0,00 -68,09 17,08 416,47 264,39 -2,26 0,00
Jahresüberschuss1 0,00 -1,60 1,36 10,26 33,80 -6,47 0,00
Netto-Marge6 0,00 -62,26 9,18 402,35 256,06 -7,21 0,00
Cashflow1,7 0,00 -1,91 2,11 1,00 -1,61 0,66 0,00
Ergebnis je Aktie8 0,00 -0,03 0,03 0,19 0,53 -0,11 -0,07
Dividende8 0,00 0,00 0,00 0,00 0,00 1,30 0,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2022 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Grant Thornton

INVESTOR-INFORMATIONEN
©boersengefluester.de
Samara Asset Group
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A2JDEW 1,350 - 77,24
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
16,88 9,95 1,68 10,23
KBV KCV KUV EV/EBITDA
0,78 117,39 0,86 14,48
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
1,30 0,00 0,00 28.06.2023
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
30.09.2023 30.06.2023
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-9,21% -21,47% -4,26% -59,58%
    
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Beteiligungen , A2JDEW , CAP , FWB:CAP