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Original-Research: Multitude SE - from NuWays AG

Classification of NuWays AG to Multitude SE

Company Name: Multitude SE

ISIN: FI4000106299

Reason for the research: Update

Recommendation: BUY

from: 06.03.2024

Target price: 10.00

Target price on sight of: 12 Monaten

Last rating change:

Analyst: Frederik Jarchow

Small value-accretive acquisition through CapitalBox; chg

Yesterday, Multitude announced to have acquired the Danish factoring

specialist Omniveta Finance through its SME unit CapitalBox. Last week,

CapitalBox also launched a new collateral lending product. In detail:

Value-accretive acquisition. Founded in 2012, Omniveta is a factoring

specialist, that is purchasing invoices (eNuW: on avg. 30 days credit

period) from suppliers with a certain discount (eNuW: 10-20%, including

handling fees). With that, Omniveta is improving the overall liquidity of

Danish SMEŽs. We expect that the company is generating a low single digit

million Euro amount in sales and being more or less break-even on the

bottom line. Multitude is seen to have paid

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http://www.more-ir.de/d/29079.pdf

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www.nuways-ag.com/research.

Contact for questions

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Kontakt für Rückfragen

NuWays AG - Equity Research

Web: www.nuways-ag.com

Email: research@nuways-ag.com

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Adresse: Mittelweg 16-17, 20148 Hamburg, Germany

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The result of this research does not constitute investment advice

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