CREALOGIX Group

SW: CLXN

CHF160m market cap

CHF82 last close

CREALOGIX Group provides digital banking technology solutions to banks, wealth managers and other financial services companies. The company’s suite of solutions includes online and mobile banking, digital payments, digital learning and security.

Investment summary

Having raised funding at the end of 2019, the SaaS transition will continue to drag on CLX results in FY20/21 but, with net cash of CHF34m, the group is well-placed to weather any short-term impact from COVID-19 on its business (no impact disclosed as yet) and complete its SaaS transformation. In H120, recurring revenues represented 47% of total revenues (up from 42% in FY19) and the group reported positive free cash flow of CHF4.9m (H119: CHF-2.1m). Year end is June 2020.

Y/E Jun
Revenue (CHFm)
EBITDA (CHFm)
PBT (CHFm)
EPS (CHFc)
P/E (x)
P/CF (x)
2018A 87.1 7.0 5.0 239.00 34.3 29.8
2019A 101.9 1.9 (1.7) (93.57) N/A 226.8
2020E 105.5 2.6 (0.5) (27.49) N/A 14.1
2021E 111.1 4.7 1.6 83.24 98.5 23.6
Industry outlook

CREALOGIX continues to pursue its goal to become a leading global SaaS digital banking software provider. Its solutions are most often used by traditional banks to enable their journey to digitalisation, through the provision of a sophisticated, modern omni-channel offering to clients. CREALOGIX has multi-award winning technology eg winning the ‘Best of Show’ award at FinovateEurope for the last three years in a row.

Last updated on 24/03/2020
Sector
TMT
Share price graph
Balance sheet
Forecast net cash (CHFm) 3.1
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (2.6) 21.3 12.3
Relative* (4.5) 12.9 (5.7)
52-week high/low CHF100.0/CHF81.0
*% relative to local index
Key management
Bruno Richle Chairman
Thomas F. J. Avedik CEO
Daniel Bader CFO