Cantourage Group SE Maintains Buy Rating Amid Revenue Challenges

First Berlin Equity Research GmbH has reaffirmed its "Buy" recommendation for Cantourage Group SE, despite a revised price target from €11.00 to €10.50. This adjustment follows Cantourage's Q3 earnings report, which highlighted a slight year-on-year revenue decrease of 2% to €19.9 million. The decline is primarily attributed to increased price competition in Germany. However, Cantourage's gross margin remained steady at 35.3%, compared to 36.4% in the previous quarter and 18.1% a year ago.

Despite weaker revenue, Cantourage reported an improved EBITDA of €1.9 million, recovering from a loss of €2.2 million the previous year. International markets continue to be a significant contributor, accounting for more than half of the company's sales. The firm's economic strategy relies on a more robust earnings profile from its revamped German portfolio.