Quirin Privatbank Equity Research, in its initial study, also sees considerable upside potential in the IGP share – Rating: Buy, target price: EUR 3.75
Berlin, 25.10.2021. IGP Advantag AG (WKN A1EWVR / ISIN DE000A1EWVR2) has now been covered by a second well-known investment analysis company: Quirin Privatbank Equity Research. In its published initial study, the Quirin analysts see considerable upside potential in the IGP share. The rating is “buy”, with a target price of EUR 3.75.
In this connection, the analysts stress that the current company valuation, with a present market capitalisation of around EUR 57 million, does not take into account the forthcoming growth and extension of the value-added chain. The IGP Advantag AG share is currently traded at around EUR 2.18 with a big discount relative to the DCF and peer group-based fair value. Based on the DCF model, Quirin sees the company’s fair value as EUR 104 million (EUR 3.75 per share). Peer group valuation arrives at a fair value for the company of EUR 122 million (EUR 4.41 per share). In particular, the strong order book together with the upcoming dynamic profit and profitability trend will contribute to closing the value gap. In the view of the analysts and as a result of the lean, cash-flow-driven business model, there is strong upside potential for the EBITDA margin in the core business, with future growth of up to 20%.
ABOUT IGP Advantag
IGP Advantag (ISIN: DE000A1EWVR2, WKN: A1EWVR), based in Berlin, is an integrated infrastructure service provider with outstanding specialist know-how along the entire value-added chain of the AEC industries (AEC: Architecture, Engineering and Construction). The IGP Group, founded in 1998, has many years of experience, and currently employs more than 350 highly-qualified staff at various locations throughout the whole of Germany.
Business activities are structured into four pillars: Initiate, Manage, Sustain and Invest. Of these, the Initiate area comprises identifying, developing and planning real estate property projects, including in the context of special planning and building law situations. The Manage pillar contains general planning, project control, implementation and construction management, including property and building supervision using state-of-the-art digital processes and its own BIM (Building Information Modelling) application [superstructure]. To further expand the comprehensive, knowledge-driven business model and to secure additional expertise, targeted participation in innovative, construction-related companies takes place in the context of the Invest strategy, including well-known architectural and expert consultancy offices, as well as experts in transformation and process optimisation, funding and software experts with their own BIM software. The Sustain pillar, focusing on climate protection, green building and emissions trading, supplements the business model by adding further forward-looking business areas. Overall, through its portfolio, the company addresses long-term megatrends such as education, health, climate protection and digitalisation.
This Press Release and the information contained therein do not represent, either in the Federal Republic of Germany or in any other country, an offer to sell or an invitation to purchase securities of IGP Advantag. Any investment decision concerning shares of the Advantag limited company should take place exclusively based on the audited annual financial statements and the approved securities prospectus published at https://www.igp-advantag.ag/finanzberichte.
IGP Advantag AG
10117 Berlin, Germany