First Berlin cuts Platform Group price target to EUR 15, keeps buy rating

PUBT · 2d ago
First Berlin cuts Platform Group price target to EUR 15, keeps buy rating
  • First Berlin Equity Research reiterated a Buy rating on The Platform Group, cutting the 12-month target price to EUR 15 from EUR 19.
  • H1 revenue rose 22% to EUR 421 million, driven by Q1 growth; Q2 sales fell 2% to EUR 178 million.
  • AEBITDA increased 9% to EUR 19 million, lifting the margin to 10.7% despite revenue landing 28% below First Berlin’s forecast.
  • The AEP acquisition remained unsigned; a term sheet secured up to EUR 80 million of acquisition financing, pending closing conditions.
  • Full-year guidance stayed at EUR 1 billion revenue, EUR 70 million to EUR 80 million AEBITDA; DCF assumptions shifted to a 12% WACC.


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