Analyst Reiterates Buy Recommendation for DEWB AG

First Berlin Equity Research has reaffirmed its "BUY" rating for Deutsche Effecten- und Wechsel- Beteiligungsgesellschaft AG (DEWB), maintaining a target price of €1.50. This follows the release of DEWB's fiscal year 2024 results, which were aligned with expectations. Reported operating income was €0.8 million. Despite challenging market conditions hindering major exit transactions, DEWB improved its EBIT loss to €-0.1 million from €-0.7 million in 2023.

Significant highlights include LAIQON's strategic partnership with Union Investment and its expansion in asset management. Stableton also saw growth in investor interest in pre-IPO tech. Looking ahead, DEWB aims to focus on exits, particularly the LAIQON investment, and expanding its portfolio. The recent issuance of a €4 million convertible bond allows further investment in fintechs. The "BUY" recommendation remains with a projected upside of 183%.