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CREALOGIX Group

SW: CLXN

Market CapCHF144.7m

Last Close CHF119.5

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.

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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
Content on CREALOGIX Group
CREALOGIX Group – An innovator in open banking
TMT | QuickView | 12 October 2020
mobile-phone-2224000
CREALOGIX – EKF interview
TMT | Edison TV | 12 October 2020
CREALOGIX Group – Innovating in open banking
TMT | Outlook | 22 September 2020
mobile-phone-2224000
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Share price graph
Balance sheet
Forecast net cash (CHFm) 9.2
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 3 10.1 8.5
Relative* (0.6) 6.4 3.1
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