MotorK (AMS: MTRK)

Last close As at 21/06/2024

EUR6.04

0.06 (1.00%)

Market capitalisation

272m

Edison Investment Research is terminating coverage on MotorK (MTRK). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.

Latest Insights

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TMT | Flash note

MotorK — Enterprise adoption drives growth

TMT | Outlook

MotorK — Refined strategy delivering momentum

Transportation and technology concept. ITS (Intelligent Transport Systems). Mobility as a service.

Sector

TMT

Balance Sheet

Forecast net debt (€m)

3.5

Forecast gearing ratio (%)

5

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 20.8 51.0 161.5
Relative 17.7 41.4 120.6
52 week high/low €6.0/€1.9

Financials

MotorK’s FY23 revenue growth was robust across most regions, with slow growth regions gaining momentum. Q124 revenue fell slightly year-on-year due to delayed delivery contracts, but these are expected to contribute to Q2 sales. Revenue quality improved, with software-as-a-service (SaaS) recurring revenue rising as a share of group revenue in FY23. M&A continues to play a pivotal role in unlocking opportunities across MotorK’s markets, providing potential average contract value (ACV) expansion from customers migrating to the platform. While personnel investments for growth swung EBITDA to a loss, MotorK’s holistic SparK platform remains well-positioned to capitalise on the automotive industry’s digital shift and technological innovation.

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 38.5 0.2 (8.8) (21.90) N/A N/A
2023A 42.9 (1.4) (11.2) (23.65) N/A N/A
2024E 55.7 17.3 5.0 8.72 69.3 199.8
2025E N/A N/A N/A N/A N/A N/A

Thematics

thematic

TMT

MediaWatch – Glimpses of positivity

thematic

TMT

MediaWatch – Rinse and repeat

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