Startschuss ist JETZT:
Die vielleicht JETZT spannendste Warren Buffett-Chance im Uran-Sektor!
Anzeige
Original-Research

Cantourage Group SE (von NuWays AG): Buy 04.11.2025, 09:00 Uhr von EQS Research Jetzt kommentieren: 0

Werte zum Artikel
Name Aktuell Diff. Börse
Cantourage Group 6,13 EUR -0,49 % Baader Bank

Original-Research: Cantourage Group SE - from NuWays AG

04.11.2025 / 09:00 CET/CEST
Dissemination of a Research, transmitted by EQS News - a service of EQS Group.
The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions.


Classification of NuWays AG to Cantourage Group SE

Company Name: Cantourage Group SE
ISIN: DE000A3DSV01
 
Reason for the research: Update
Recommendation: Buy
from: 04.11.2025
Target price: EUR 10.50
Target price on sight of: 12 months
Last rating change:
Analyst: Christian Sandherr

Q3 prelims: Growth remains strong // int. expansion ongoing
Cantourage's Q3 sales surged 52% to € 20m but regulatory uncertainties and price pressures weigh on margins. Maintain BUY with a €10.50 price target.
Cantourage reported strong Q3 sales of € 20m, up 52% yoy (9m sales of € 74.9m, +148% yoy) thanks to a strong international momentum and continued demand in its home-turf Germany. Yet, this is a sequential slow down compared to the previous quarter with € 27.9m due to prevailing uncertainties surrounding regulatory changes in Germany and resulting cautious demand and somewhat lower pricing as several players notably decrease prices to clear inventories (cannabis flowers are perishable).
EBITDA during the first nine months stood at € 3.9m (+86% yoy), implying a margin of 5.2%, partially underpinning the company’s strong operating performance and high scalability of the business model but at the same time temporarily burdened by the German market’s current price pressure amid an industry wide inventory wind down.
FY25 expectations partially reachable. So far, the company has not issued a concrete guidance for this financial year. While market expectations for FY sales of € 87m (eNuW: € 88.6m) seem sensible, estimates for EBITDA of € 7m (eNuW old: € 6.5m) should be somewhat to high; eNuW new: € 4.9m.
Regulatory uncertainties prevail. The Federal Ministry of Health is evaluating measures that could restrict telemedicine-based cannabis prescriptions and curb mail-order distribution. While the direct impact would be limited (telecan is not a meaningful revenue driver), these proposals, if enacted, could constrain patient access and affect market dynamics. Cannabis-focused pharmacies are therefore showing more cautious ordering patterns. It remains unclear, to what extent access will be restricted. However, we see Cantourage as well positioned to weather those changes; adapting the product offering, increasing cooperations with offline pharmacies and entering additional markets to decrease the dependency on Germany.
European expansion ongoing. Next to Germany, Cantourage has already established itself as a significant player in the UK. In September, the company announced that it already supplied 1.5 tons of medical cannabis to the UK market (eNuW: low double-digit € m of sales). In Poland, Cantourage is further increasing its presence and is also preparing to enter further European markets such as Spain and Italy. Ultimately, the company is decreasing its dependency on the German market and adding additional growth pillars to the story.
Current share price development remains de-coupled from the company’s operational developments. Trading at 0.5x EV/sales FY25e despite expected growth of >70% seems unjustified. We confirm our BUY rating with an unchanged € 10.50 PT based on DCF.
 

You can download the research here: CantourageGroupSEQ3preview
For additional information visit our website: https://www.nuways-ag.com/research-feed

Contact for questions:
NuWays AG - Equity Research
Web: www.nuways-ag.com
Email: research@nuways-ag.com
LinkedIn: https://www.linkedin.com/company/nuwaysag
Adresse: Mittelweg 16-17, 20148 Hamburg, Germany
++++++++++
Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.
Offenlegung möglicher Interessenskonflikte nach § 85 WpHG beim oben analysierten Unternehmen befinden sich in der vollständigen Analyse.
++++++++++


The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
View original content: EQS News


2223196  04.11.2025 CET/CEST

Kommentare (0) ... diskutiere mit.
Werbung

Handeln Sie Aktien bei SMARTBROKER+ für 0 Euro!* Profitieren Sie von kostenloser Depotführung, Zugriff auf 29 deutsche und internationale Börsenplätze und unschlagbar günstigen Konditionen – alles in einer innovativen, brandneuen App. Jetzt zu SMARTBROKER+ wechseln und durchstarten!

*Ab 500 EUR Ordervolumen über gettex. Zzgl. marktüblicher Spreads und Zuwendungen.

k.A. k.A. k.A. k.A.
k.A. k.A. k.A. k.A.
k.A. k.A. k.A. k.A.
Schreib den ersten Kommentar!

Dis­clai­mer: Die hier an­ge­bo­te­nen Bei­trä­ge die­nen aus­schließ­lich der In­for­ma­t­ion und stel­len kei­ne Kauf- bzw. Ver­kaufs­em­pfeh­lung­en dar. Sie sind we­der ex­pli­zit noch im­pli­zit als Zu­sich­er­ung ei­ner be­stim­mt­en Kurs­ent­wick­lung der ge­nan­nt­en Fi­nanz­in­stru­men­te oder als Handl­ungs­auf­for­der­ung zu ver­steh­en. Der Er­werb von Wert­pa­pier­en birgt Ri­si­ken, die zum To­tal­ver­lust des ein­ge­setz­ten Ka­pi­tals füh­ren kön­nen. Die In­for­ma­tion­en er­setz­en kei­ne, auf die in­di­vi­du­el­len Be­dür­fnis­se aus­ge­rich­te­te, fach­kun­di­ge An­la­ge­be­ra­tung. Ei­ne Haf­tung oder Ga­ran­tie für die Ak­tu­ali­tät, Rich­tig­keit, An­ge­mes­sen­heit und Vol­lständ­ig­keit der zur Ver­fü­gung ge­stel­lt­en In­for­ma­tion­en so­wie für Ver­mö­gens­schä­den wird we­der aus­drück­lich noch stil­lschwei­gend über­nom­men. Die Mar­kets In­side Me­dia GmbH hat auf die ver­öf­fent­lich­ten In­hal­te kei­ner­lei Ein­fluss und vor Ver­öf­fent­lich­ung der Bei­trä­ge kei­ne Ken­nt­nis über In­halt und Ge­gen­stand die­ser. Die Ver­öf­fent­lich­ung der na­ment­lich ge­kenn­zeich­net­en Bei­trä­ge er­folgt ei­gen­ver­ant­wort­lich durch Au­tor­en wie z.B. Gast­kom­men­ta­tor­en, Nach­richt­en­ag­en­tur­en, Un­ter­neh­men. In­fol­ge­des­sen kön­nen die In­hal­te der Bei­trä­ge auch nicht von An­la­ge­in­te­res­sen der Mar­kets In­side Me­dia GmbH und/oder sei­nen Mit­ar­bei­tern oder Or­ga­nen be­stim­mt sein. Die Gast­kom­men­ta­tor­en, Nach­rich­ten­ag­en­tur­en, Un­ter­neh­men ge­hör­en nicht der Re­dak­tion der Mar­kets In­side Me­dia GmbH an. Ihre Mei­nung­en spie­geln nicht not­wen­di­ger­wei­se die Mei­nung­en und Auf­fas­sung­en der Mar­kets In­side Me­dia GmbH und de­ren Mit­ar­bei­ter wie­der. Aus­führ­lich­er Dis­clai­mer