FinLab

DB: A7A

€94.8m market cap

€18.1 last close

FinLab is an incubator and builder of fintech companies based in Germany. It also has holdings in two relatively mature asset management businesses, Heliad and Patriarch, which gives it stable cash flows and a strong balance sheet. It currently has four fintech investments.

Investment summary

FinLab’s H118 results were influenced by the fall in Heliad Equity Partners’ share price and limited revaluation of non-listed holdings. However, after the balance sheet date FinLab announced several positive developments, including the partial profitable exit from Deposit Solutions and new financing rounds at several holdings. According to management, these should translate into NAV/share of around €23 at end-September 2018, ie c 18% higher than the figure as at end-June 2018. Based on this estimate, FinLab is currently trading at an 11% discount to end-September NAV.

Share price graph
Price performance
%
1m
3m
12m
Actual 24.8 7.4 (20.3)
Relative* 23.8 7.8 (12.1)
52-week high/low €24.2/€13.8
*% relative to local index
Key management
Juan Rodriguez Member of the Board
Stefan Schuetze Member of the Board