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March 17th, 2022 | 12:45 CET

RWE, Kleos Space, TeamViewer - Powerful rebound

  • Space
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The Ukraine conflict still dominates the markets around the globe. However, most indices have been playing a de-escalation scenario in recent days. The DAX has already made up more than 2,000 points since its low. In contrast, precious metals such as gold and silver are losing massively, and the oil markets are reducing the exaggeration, at least in the short term. In terms of individual stocks, it is mainly the hard-hit banks and financial services companies performing well. In contrast, there are still attractive opportunities in various technology stocks.

time to read: 3 minutes | Author: Stefan Feulner
ISIN: RWE AG INH O.N. | DE0007037129 , KLEOS SPACE CDI/1/1 | AU0000015588 , TEAMVIEWER AG INH O.N. | DE000A2YN900

Table of contents:

    About to take off

    In the case of Data-as-a-Service company Kleos Space, the value of the share was depressed not only by the overall negative market as a result of the Ukraine crisis but also by the aborted launch in January of its third cluster which was to consist of four satellites. This year alone, the share price has corrected by almost 30% to EUR 0.35. Since its peak in July of last year, this means a decline by half of the stock market value, which currently stands at EUR 57.47 million. However, with the launch in April, Kleos Patrol Mission (KSF2) satellites will be reprogrammed for another run-up with the SpaceX Transporter-4 mission. The goal of the mission is to significantly increase data collection capacity. A fourth cluster is planned for as early as the middle of the current year.

    Analyst firm First Berlin recently published a research update on Kleos Space, assigning a "buy" rating with a price target of AUD 2.60, the equivalent of EUR 1.71. In relation to the current share price, this would mean a fivefold increase. The analysts at Petra Capital are also optimistic with a target price of AUD 1.25, which at EUR 0.82 would be more than a doubling.

    Hook under TeamViewer

    With the publication of the annual report that brought the Goeppingen-based company back down to earth after the successful 2020, the full year 2021 was finally closed. There were no further surprises after the annual forecasts had been capped twice. The consolidated result slumped by more than half, from EUR 103 million to EUR 50 million, partly due to the high-dollar advertising contracts with the English soccer club Manchester United and with the Mercedes Formula 1 racing team. The weak performance naturally also impacts the total compensation of CEO Oliver Steil. So, after EUR 72.9 million in 2020, the TeamViewer boss earned "only" EUR 22.1 million, which is still likely to be one of the top salaries in the management scene in Germany.

    As written in the annual report, growth plans for 2022 have been defined. TeamViewer expects 2022 billings in the range of EUR 630 to 650 million and an adjusted EBITDA margin between 45% and 47%. A first insight into the development of TeamViewer's business should be provided by the figures for the first quarter, which are expected in early May. After the countermovement at the beginning of the year, the stock recovered to the EUR 16.50 area but fell again towards last year's lows due to the general negative market environment. The indicators are also turning negative, so it is not unlikely that the share will once again establish a low below the EUR 10.71 level. Invested investors are advised to hedge their positions above this level.

    Targets achieved

    In addition to TeamViewer, energy group RWE also published its final figures for the full year 2021. The Essen-based company increased its adjusted earnings before interest, taxes, depreciation and amortization, EBITDA, from EUR 3.29 billion to EUR 3.65 billion. Adjusted EBIT rose from EUR 1.82 billion to EUR 2.19 billion, while net profit came to EUR 1.57 billion.

    For the current fiscal year, the DAX-listed group sees uncertainties regarding the Ukraine conflict but expects to be able to match the operating result of 2021. On Tuesday, RWE confirmed the forecast it had raised in mid-February. However, this does not include the "difficult to estimate" consequences of the Ukraine war, the DAX group announced on Tuesday when presenting its final business figures for 2021 in Essen.

    The US investment bank Goldman Sachs continues to view RWE shares positively and left the Company on its "Conviction Buy List". Only the price target was lowered from EUR 54.50 to EUR 53.

    After the sharp sell-off on the capital markets, there was a strong countermovement in the past few days, which pushed the DAX up more than 2,000 points. In the technology sector, there are still attractive long-term entry opportunities for Kleos Space. At TeamViewer, various indicators are turning down again. RWE could offer a trading opportunity in the event of a setback to the EUR 35 area.

    Conflict of interest

    Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a "Transaction"). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company.

    In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships.

    For this reason, there is a concrete conflict of interest.

    The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies.

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    Der Autor

    Stefan Feulner

    The native Franconian has more than 20 years of stock exchange experience and a broadly diversified network.
    He is passionate about analyzing a wide variety of business models and investigating new trends.

    About the author

    Related comments:

    Commented by Stefan Feulner on April 20th, 2022 | 11:34 CEST

    SAP, Kleos Space, TeamViewer - Profiting from technological progress

    • Space
    • bigdata

    It is a first in world history. The currently ongoing Ukraine conflict is the first major war in which commercially available satellite imagery plays an important role in providing information about troop movements, military buildups in neighboring countries, and refugee flows. These images are provided by private satellite companies, which provide global geolocation data as a service using AI-powered technology and deliver it to customers such as governments, intelligence agencies or insurance companies. The market for satellite-based data is growing enormously, and company valuations still promise significant upside potential.


    Commented by Nico Popp on April 12th, 2022 | 18:33 CEST

    The biggest crisis since 1945: Rheinmetall, Kleos Space, Airbus

    • armaments
    • Space

    Foreign Minister Annalena Baerbock has spoken out in favor of supplying "heavy weapons" to Ukraine. For years, arms deliveries were a thorn in the side of the Greens. It is remarkable that Baerbock, who has always been considered "Realo", is now even counted among the "hawks" on the big international political stage. Even though critics from all ranks may interpret the move negatively, Baerbock is demonstrating pragmatism and toughness. These qualities could be the key to de-escalation in the most profound crisis since World War II. We examine the current economic climate and look at three companies and their shares.


    Commented by André Will-Laudien on March 28th, 2022 | 13:40 CEST

    Rheinmetall, Hensoldt, Kleos Space - These stocks have the Ukraine perspective!

    • Space
    • armaments

    No one would have thought that the sense of peace and security that Europe has built over the past 75 years could dissolve in just 4 weeks. The war in Ukraine is taking on unimagined traits, with threats between East and West intensifying at what feels like 24-hour intervals. With each verbal attack by Joe Biden, communications become tighter and more threatening. What will our world look like after another 4 weeks? We do not know. At any rate, the capital markets are trying to price in the consequences of the war. They are still relatively optimistic, possibly even too positive, considering the enormous inflationary pushes and the still unclear economic effects. We look at some price outliers in this explosive environment.