First Berlin Equity Research Reiterates Buy Rating for LAIQON AG

First Berlin Equity Research has updated its analysis on LAIQON AG (ISIN: DE000A12UP29), reaffirming a Buy rating with a target price of €9.80. Analyst Christian Orquera highlighted key financial outcomes for H1 2024, showcasing a promising performance trajectory.

The company's Assets under Management (AuM) increased to €6.5 billion, marking an 8% growth compared to €6.0 billion in H1 2023. Adjusted group revenues rose by 17% to €16.3 million, closely aligning with the forecast of €16.4 million and significantly up from €13.9 million in the same period last year.

Performance fees for H1 2024 amounted to approximately €1 million, a notable rise from zero in H1 2023. Adjusted EBITDA also saw improvements, moving from €-3.7 million in H1 2023 to €-1.4 million. The launch of a joint product, 'WertAnlage', with Union Investment is set for Q4 2024.

Given the financial results and the LAIC/Union collaboration progress, First Berlin Equity Research maintains that LAIQON AG is on track to meet its FY 2024 forecasts.