CHF144.7m market cap
CHF119.5 last close
The CREALOGIX Group is a Swiss Fintech 100 company and is among the global market leaders in digital banking, providing front-end digital banking technology solutions to banks, wealth managers and other financial services companies.
Investment summary
In FY20, revenues grew 1.7% to CHF103.7m and adjusted EBITDA rose to CHF2.4m, with minimal impact from COVID-19. Recurring revenues were 44% of total revenues, with SaaS 17%. CLX is targeting 10%+ EBITDA margins and 60% recurring revenues in the medium term. The SaaS transition is expected to drag on FY21 results before a full year of benefit in FY22. In January, as part of an ongoing rationalisation strategy, CREALOGIX spun-off its product implementation business for the German-speaking region (c 50 employees) to a management buyout.
Y/E Jun |
Revenue (CHFm) |
EBITDA (CHFm) |
PBT (CHFm) |
EPS (CHFc) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2019A | 101.9 | 1.9 | (1.7) | (93.57) | N/A | 286.2 |
| 2020A | 103.7 | 2.4 | (0.9) | (14.79) | N/A | 14.8 |
| 2021E | 108.8 | 5.9 | 3.0 | 155.54 | 66.5 | 22.4 |
| 2022E | 114.3 | 10.3 | 7.5 | 383.77 | 27.0 | 13.2 |
Industry outlook
CREALOGIX is a leading, global digital banking engagement platform provider, based in Switzerland, offering front-end software solutions that enable ‘the digital bank of tomorrow’. Driven by the consumer, as well as regulation, this market is dynamic and fast changing, with the group’s solutions typically used by retail, private and commercial banks, as well as wealth managers that need to upgrade legacy systems to meet the threat of neo-banks and challenger banks.
Last updated on 24/03/2020
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Share price graph
Balance sheet |
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| Forecast net cash (CHFm) | 9.2 |
| Forecast gearing ratio (%) | N/A |
Price performance
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Key management |
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| Bruno Richle | Chairman |
| Thomas F. J. Avedik | CEO |
| Daniel Bader | CFO |
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