Montega Initiates Coverage of IBU-tec with Positive Outlook

Montega AG has launched its coverage on IBU-tec advanced materials AG, assigning a target price of EUR 21.00 and a "Buy" recommendation. This coverage recognizes IBU-tec’s notable position as the sole European industrial-scale manufacturer of LFP cathode materials.

The report predicts significant financial growth, with group revenues estimated to reach EUR 84 million by 2028, up from EUR 50.6 million in 2024. EBITDA is expected to rise to EUR 12.5 million from EUR 1.0 million in the same period. The expansion is bolstered by an intensified partnership with PowerCo and the upcoming large-scale production plant in Bitterfeld.

As the Battery Materials business is projected to make up 59% of IBU-tec's total sales by 2028, the company’s transformation into a "Battery Company" is anticipated to drive enhanced profitability and growth.