mVISE

DB: C1VX

€32.4m market cap

€3.78 last close

Founded in 2000, mVISE is a pioneer in German mobile software solutions with a large blue-chip client base, including Vodafone, Bosch and Deutsche Telekom. The group specialises in mobile business solutions, virtualisation and cloud-computing, and security software. Consulting contributed two-thirds of revenues in 2016, and act as a driver of additional revenues including own software sales.

Investment summary

mVISE has announced preliminary 2018 results showing revenue growth of 52% to €22.5m, and adjusted operating profit doubling to c €1.8m. Earnings were driven by growth in sales of the group’s high-margin software products and a solid performance by the consulting business. We expect the boost to the number of new channel partners at SaleSphere in Q419 and the creation of a new marketing promotion for mVise’s elastic.io in January to provide further impetus to earnings growth this year. With digitalisation of German industry giving the group strong growth impetus, while trading at a discount to its peer group.

Sector
TMT
Share price graph
Price performance
%
1m
3m
12m
Actual 3.6 7.4 (15.6)
Relative* (0.4) (3.5) (12.6)
52-week high/low €6.3/€2.7
*% relative to local index
Key management
Manfred Götz CEO
Sonja Peisker IR