39th MKK - Munich Capital Market Conference: Reaching new heights with thyssenkrupp, Deutsche Lufthansa, Freenet & Co.

A successful platform for small and large companies

The response was tremendous. Around 500 capital market participants, including analysts, financial journalists, and institutional investors, filled the conference rooms and ensured that 1-on-1 meetings at The Charles Hotel were fully booked weeks in advance. For two days, Munich again became the capital of German and European SMEs. Such a field of participants is usually only seen at the German Equity Forum in Frankfurt.

The fact that the MKK – Munich Capital Market Conference has gained enormous prestige beyond the Bavarian border is demonstrated by the participation of an increasing number of large corporations from the German economy. Deutsche Lufthansa AG (ISIN: DE0008232125), with a market capitalization of EUR 7.19 billion, topped the list of the most valuable companies, followed by MDAX members thyssenkrupp (ISIN: DE0007500001, market capitalization: EUR 5.56 billion), Freenet (ISIN: DE000A0Z2ZZ5, EUR 3.96 billion), United Internet (ISIN: DE0005089031, EUR 3.34 billion), and FlatexDEGIRO (ISIN: DE000FTG1111, EUR 2.17 billion).

The Big Five were joined by billion-euro companies KSB SE (ISIN: DE0006292030 | WKN: 629203), Hornbach (ISIN: DE0006083405), and Austrian company Porr AG (ISIN: AT0000609607), one of Europe's largest construction companies, which is likely to benefit significantly from the German government's infrastructure program, considering that 14,000 bridges in the republic are in disrepair.

Manuel Hölzle, CEO of the event organizer GBC AG, was impressed: "The 39th MKK was once again a complete success – with a strong response that we were very pleased about. The range of companies presenting ranged from small to large mid-sized companies and once again demonstrated the quality and diversity of German SMEs. The MKK has once again proven itself to be an exciting platform for interesting investment ideas."

Broad diversification of industries and topics

The mix of smaller SMEs and large corporations was particularly pronounced at the 39th edition of the MKK. The performance of the General All-Share Index of the Frankfurt Stock Exchange, the barometer for SMEs, which outperformed the DAX 40 by more than 20% between January 1, 2025, and the end of March, shows that interest in small and mid-sized companies is reviving among private and institutional investors alike. Market participants at The Charles Hotel in Munich agreed that the valuation gap between small caps and the largest German corporations will continue to narrow in the future despite the current sell-off due to the tariff dispute.

Stinag Stuttgart Investment AG (ISIN: DE0007318008) stood out as a real value play. Despite low vacancy rates and comparatively low financial debt, the share price of the solidly managed real estate company slumped to a record low of EUR 11.90 in recent days. Due to the discrepancy in valuation, analysts at GBC AG issued a "Buy" rating with a price target of EUR 26 in their latest study.

However, small specialty stocks, including some "ESG gems," were also found at the 39th MKK. For example, financial experts continue to view the shares of ISA - International School Augsburg (ISIN: DE000A2AA1Q5), which has continued its growth trend, as a promising investment in the sustainability sector. At a current price of EUR 8.70, the analyst's target price of EUR 19.50 represents a potential upside of 124%.

SBF AG, a specialist in solutions for rail vehicles, lighting, electromechanics, and sensor technology, could benefit from the German government's new infrastructure program. In the rail transport sector, in particular, where SBF has been a technological leader for years with customized lighting and ceiling systems, SBF could see a significant increase in its order books, which are already filled to a record level of EUR 100 million.

From abroad, the Italian family-owned company Green Oleo S.p.A. (ISIN: IT0005549768, market capitalization: EUR 28 million), Europe's market leader in green chemicals from renewable sources, presented itself. Also traveling to Munich from Italy was the investment company RedFish Longterm Capital SpA (SIN: IT0005549354, EUR 33 million), which invests in small and mid-sized Italian companies. The Canadian hydrogen company dynaCERT (ISIN: CA26780A1084) emerged as a rebound opportunity. Here too, GBC AG analysts see a buying opportunity with potential for multiplication at a share price of EUR 0.10 and assigned a price target of EUR 0.48 in their latest study from March 2025.

For Manuel Hölzle, the participation of foreign companies is a top priority: "We are also delighted that companies from other European countries and beyond are showing increasing interest in presenting themselves at our investor conference," said Hölzle. "This shows that the MKK has developed fantastically over its 20-year history and has become increasingly international."

Upcoming dates in 2025

Even after the 39th MKK Munich Capital Market Conference, GBC AG will continue to offer capital market participants the opportunity to learn more about the business models of interesting mid-sized companies in various formats in 2025. The successful online format - the 15th IIF (International Investment Forum), will take place on May 21 (and again in October and December). This will be followed on September 24 by the Zurich Investor Day, featuring presentations from six companies. November 12-13, 2025, will then offer another special highlight, as the 40th edition of the MKK Munich Capital Market Conference will be held at The Charles Hotel, with around 60 presenting companies.