01 April 2025

sponsored

Dividend payout finally back

Delticom AG

Target price

 

Recommendation

 

28 March 2025

sponsored

FY 2024/25: all targets achieved

Hornbach Holding & Co. KGaA

Target price

 

Recommendation

 

19 March 2025

sponsored

Mid-term guidance: operating EBIT margin 10% in FY 2028

Villeroy & Boch AG

Target price

 

Recommendation

 

12 March 2025

FY 2024 targets clearly achieved

Zalando SE

Target price

 

Recommendation

 

Buy

09 January 2025

sponsored

What on earth has happened?

Hornbach Holding & Co. KGaA

Target price

 

Recommendation

 

18 November 2024

sponsored

Strong top line development in a recessionary environment

Delticom AG

Target price

 

Recommendation

 

15 November 2024

2024 remains a year of transition

Mister Spex

Target price

 

Recommendation

 

Buy

04 November 2024

Q3/9M 2024 results

Zalando SE

Target price

 

Recommendation

 

Buy

27 October 2024

sponsored

EUR 1 bn sales threshold exceeded

Villeroy & Boch AG

Target price

 

Recommendation

 

30 September 2024

sponsored

H1-24/25 figures: well on track to reach full year guidance

Hornbach Holding & Co. KGaA

Target price

 

Recommendation

 

28 August 2024

sponsored

Solid H1 results in a challenging environment – focus on Q4

Delticom AG

Target price

 

Recommendation

 

15 August 2024

Clear focus on profitability

Mister Spex

Target price

 

Recommendation

 

Buy

07 August 2024

Very solid H1-24 results

Zalando SE

Target price

 

Recommendation

 

Buy

31 July 2024

sponsored

Ideal Standard acquisition: tailwind for sales growth and operating EBIT

Villeroy & Boch AG

Target price

 

Recommendation

 

21 July 2024

Hornbach: Solid Q1 numbers

Hornbach Holding & Co. KGaA

Target price

 

Recommendation

 

Buy

02 June 2024

sponsored

Q1-24: First-time consolidation of Ideal Standard

Villeroy & Boch AG

Target price

 

Recommendation

 

23 May 2024

sponsored

On track to fulfill FY targets

Delticom AG

Target price

 

Recommendation

 

16 May 2024

sponsored

Progress in gross margin, but liquidity remains the critical factor

Veganz Group AG

Target price

 

Recommendation

 

12 May 2024

Q1-24: strong cash flow generation

Mister Spex

Target price

 

Recommendation

 

Buy

07 May 2024

Q1-24: Further increase of profitability

Zalando SE

Target price

 

Recommendation

 

Buy

24 April 2024

sponsored

Capital market confidence takes time but management delivers

Delticom AG

Target price

 

Recommendation

 

07 April 2024

Hornbach: Established player in a highly competitive market

Hornbach Holding & Co. KGaA

Target price

 

Recommendation

 

Buy

14 March 2024

Updated strategy & mid-term growth targets

Zalando SE

Target price

 

Recommendation

 

Buy

10 March 2024

sponsored

An extraordinary year has passed

Villeroy & Boch AG

Target price

 

Recommendation

 

28 January 2024

sponsored

Positive catalyst – margin expansion!

Delticom AG

Target price

 

Recommendation

 

19 November 2023

9M-23 results

Zalando SE

Target price

 

Recommendation

 

Buy

14 November 2023

Q3-23 results

Mister Spex

Target price

 

Recommendation

 

Buy

12 November 2023

sponsored

Consumer sentiment: No recovery in sight for 2023

Delticom AG

Target price

 

Recommendation

 

24 October 2023

sponsored

9M-23 results affected by economic factors

Villeroy & Boch AG

Target price

 

Recommendation

 

22 October 2023

sponsored

9M-23 results affected by economic factors

Villeroy & Boch AG

Target price

 

Recommendation

 

01 October 2023

sponsored

H1-23: Focus remains on profitability

Veganz Group AG

Target price

 

Recommendation

 

25 September 2023

sponsored

Does the acquisition make sense? Absolutely!

Villeroy & Boch AG

Target price

 

Recommendation

 

11 September 2023

sponsored

Expansion of the business model & fresh money

Veganz Group AG

Target price

 

Recommendation

 

03 September 2023

H1-23: All major KPIs improved

Mister Spex

Target price

 

Recommendation

 

Buy

13 August 2023

sponsored

Consumer sentiment one big issue, DEX`s profitability step-up positive

Delticom AG

Target price

 

Recommendation

 

08 August 2023

Q2-23: Increase of adjusted EBIT

Zalando SE

Target price

 

Recommendation

 

Buy

02 August 2023

sponsored

H1-23: Bath & Wellness below last year due to due to downturn in construction industry in particular

Villeroy & Boch AG

Target price

 

Recommendation

 

29 May 2023

sponsored

Strong indication for Q2 top line

Delticom AG

Target price

 

Recommendation

 

24 May 2023

sponsored

Still headwind from the macro side

Veganz Group AG

Target price

 

Recommendation

 

15 May 2023

Q1-23: sales and profitability up

Mister Spex

Target price

 

Recommendation

 

Buy

04 May 2023

Q1-23 figures represent FY 2023 guidance

Zalando SE

Target price

 

Recommendation

 

Buy

26 April 2023

sponsored

Q1-23: sales down, EBIT margin up

Villeroy & Boch AG

Target price

 

Recommendation

 

02 April 2023

Focus on profitability

Mister Spex

Target price

 

Recommendation

 

Buy

21 March 2023

sponsored

Prel. FY 2022 results

Veganz Group AG

Target price

 

Recommendation

 

12 March 2023

Focus on profitable growth

Zalando SE

Target price

 

Recommendation

 

Buy

08 March 2023

sponsored

FY 2023 guidance looks conservative

Villeroy & Boch AG

Target price

 

Recommendation

 

20 November 2022

The worst is over

Mister Spex

Target price

 

Recommendation

 

Buy

16 November 2022

sponsored

Macro environment hits Veganz

Veganz Group AG

Target price

 

Recommendation

 

15 November 2022

sponsored

Mixed bag for Q3 2022

Delticom AG

Target price

 

Recommendation

 

06 November 2022

Q3-22: back on (small) growth path

Zalando SE

Target price

 

Recommendation

 

Buy

23 October 2022

sponsored

Strong 9M-22 figures

Villeroy & Boch AG

Target price

 

Recommendation

 

29 September 2022

sponsored

FY 2022 sales expectation reduced

Veganz Group AG

Target price

 

Recommendation

 

18 September 2022

sponsored

Villeroy & Boch Investors' Day

Villeroy & Boch AG

Target price

 

Recommendation

 

08 September 2022

FY 2022 guidance reduced

Mister Spex

Target price

 

Recommendation

 

Buy

15 August 2022

sponsored

Strong Q2 EBIT margin – Future impact by tough markets

Delticom AG

Target price

 

Recommendation

 

20 July 2022

sponsored

FY 2022 outlook adjusted to the upper end of the guidance

Villeroy & Boch AG

Target price

 

Recommendation

 

23 June 2022

FY 2022 outlook powdered

Zalando SE

Target price

 

Recommendation

 

Buy

08 June 2022

sponsored

Feedback Quirin Conference

Veganz Group AG

Target price

 

Recommendation

 

16 May 2022

Q1-22: 6% sales increase

Mister Spex

Target price

 

Recommendation

 

Buy

15 May 2022

sponsored

Q1 top line and EBITDA yoy up

Delticom AG

Target price

 

Recommendation

 

25 April 2022

sponsored

Good start in FY 2022

Villeroy & Boch AG

Target price

 

Recommendation

 

03 April 2022

Double-digit sales growth ahead

Mister Spex

Target price

 

Recommendation

 

Buy

27 March 2022

sponsored

Incremental improvement in margin

Delticom AG

Target price

 

Recommendation

 

20 March 2022

Strong growth ahead

Mister Spex

Target price

 

Recommendation

 

Buy

08 March 2022

Some clouds in the sky

Zalando SE

Target price

 

Recommendation

 

Buy

28 February 2022

sponsored

One-off effects burden FY 2021 earnings guidance

Veganz Group AG

Target price

 

Recommendation

 

21 February 2022

sponsored

Villeroy & Boch 2.0

Villeroy & Boch AG

Target price

 

Recommendation

 

13 January 2022

sponsored

Initiation of Coverage: Buy, EUR 130 TP

Veganz Group AG

Target price

 

Recommendation

 

08 November 2021

sponsored

Solid Q3 top line growth and high TTM EBITDA – attractive valuation

Delticom AG

Target price

 

Recommendation

 

02 November 2021

Q3-21: strong growth, low margin

Zalando SE

Target price

 

Recommendation

 

Buy

30 September 2021

sponsored

Another increase of FY 2021 guidance

Villeroy & Boch AG

Target price

 

Recommendation

 

17 August 2021

Takeover offer

Zooplus AG

Target price

 

Recommendation

 

Buy

11 August 2021

sponsored

Incremental profitability rise

Delticom AG

Target price

 

Recommendation

 

04 August 2021

Strong Q2-21 growth

Zalando SE

Target price

 

Recommendation

 

Buy

06 July 2021

sponsored

Strong sales increase plus efficiency program – a wonderful cocktail

Villeroy & Boch AG

Target price

 

Recommendation

 

13 May 2021

sponsored

Solid Q1 KPIs – attractive valuation

Delticom AG

Target price

 

Recommendation

 

26 April 2021

sponsored

Strong increase of FY 2021 guidance

Villeroy & Boch AG

Target price

 

Recommendation

 

29 March 2021

Strong long-term outlook

Zooplus AG

Target price

 

Recommendation

 

Buy

28 March 2021

sponsored

Turnaround succeeded, Solid 2021

Delticom AG

Target price

 

Recommendation

 

22 March 2021

Strong short- and long-term outlook

Zalando SE

Target price

 

Recommendation

 

Buy

28 February 2021

sponsored

FY 2021: Back on growth path

Villeroy & Boch AG

Target price

 

Recommendation

 

20 January 2021

sponsored

Villeroy & Boch runs a robust business model

Villeroy & Boch AG

Target price

 

Recommendation

 

14 December 2020

sponsored

Third guidance increase in a row

Delticom AG

Target price

 

Recommendation

 

23 November 2020

sponsored

Tyres are running again – turn-around story takes shape

Delticom AG

Target price

 

Recommendation

 

05 November 2020

Strong Q3-20 results

Zalando SE

Target price

 

Recommendation

 

Buy

25 October 2020

sponsored

Q3-20: net profit quadrupled yoy

Villeroy & Boch AG

Target price

 

Recommendation

 

18 October 2020

Another increase of FY 2020 guidance

Zooplus AG

Target price

 

Recommendation

 

Buy

24 August 2020

Signs of improvements

Zooplus AG

Target price

 

Recommendation

 

Buy

11 August 2020

Strong FY 2020 guidance confirmed

Zalando SE

Target price

 

Recommendation

 

Buy

21 July 2020

sponsored

Light at the end of the tunnel

Villeroy & Boch AG

Target price

 

Recommendation

 

12 May 2020

Despite tailwind from Covid-19: net loss realistic in FY 2020

Zooplus AG

Target price

 

Recommendation

 

Buy

03 May 2020

sponsored

Small effects from Covid-19

Villeroy & Boch AG

Target price

 

Recommendation

 

16 April 2020

Light and shadow

Zalando SE

Target price

 

Recommendation

 

Buy

01 April 2020

No profiteer from Covid-19

Zooplus AG

Target price

 

Recommendation

 

Buy

24 March 2020

sponsored

Covid pandemic reaches V&B

Villeroy & Boch AG

Target price

 

Recommendation

 

18 March 2020

Coronavirus dampens business

Zalando SE

Target price

 

Recommendation

 

Buy

16 February 2020

sponsored

Possible acquisition of competitor Ideal Standard

Villeroy & Boch AG

Target price

 

Recommendation

 

27 January 2020

Preliminary FY 2019 figures: no positive surprise

Zooplus AG

Target price

 

Recommendation

 

Buy

08 January 2020

sponsored

Promises made, promises kept

Villeroy & Boch AG

Target price

 

Recommendation

 

03 November 2019

Drama with Q3-19

Zalando SE

Target price

 

Recommendation

 

Buy

29 October 2019

sponsored

There is light at the end of the tunnel

Villeroy & Boch AG

Target price

 

Recommendation

 

14 August 2019

H1-19: Zooplus remains in the red

Zooplus AG

Target price

 

Recommendation

 

Buy

31 July 2019

Strong Q2-19 figures and increase of FY 2019 guidance

Zalando SE

Target price

 

Recommendation

 

Buy

05 May 2019

FY 2019 sales outlook ambitious

Zalando SE

Target price

 

Recommendation

 

Buy

23 April 2019

sponsored

Q1-19: mixed picture

Villeroy & Boch AG

Target price

 

Recommendation

 

17 April 2019

Racehorse: Zooplus AG

Zooplus AG

Target price

 

Recommendation

 

Buy

26 March 2019

Competition clearly dampens sales growth

Zooplus AG

Target price

 

Recommendation

 

Buy

11 March 2019

Signs are on further growth

Zalando SE

Target price

 

Recommendation

 

Buy

18 February 2019

sponsored

Initiatives in Tableware segment and property sale to trigger share price

Villeroy & Boch AG

Target price

 

Recommendation

 

21 October 2018

sponsored

Increase of sales and earnings despite hot summer

Villeroy & Boch AG

Target price

 

Recommendation

 

17 September 2018

Sometimes too hot, sometimes too cold – it is always something

Zalando SE

Target price

 

Recommendation

 

Buy

06 August 2018

Guidance slightly reduced

Zalando SE

Target price

 

Recommendation

 

Buy

19 July 2018

sponsored

H1-18: light and shadow

Villeroy & Boch AG

Target price

 

Recommendation

 

16 July 2018

sponsored

Preview H1-18

Villeroy & Boch AG

Target price

 

Recommendation

 

21 May 2018

Growth, growth, loss

Zooplus AG

Target price

 

Recommendation

 

Buy

07 May 2018

sponsored

Solid start into FY 2018

Villeroy & Boch AG

Target price

 

Recommendation

 

28 March 2018

No improvement in sight

Zooplus AG

Target price

 

Recommendation

 

Buy

19 March 2018

Focus on growth

Zalando SE

Target price

 

Recommendation

 

Buy

01 March 2018

Mid-term focus on growth

Zalando SE

Target price

 

Recommendation

 

Buy

14 February 2018

sponsored

Tableware: Recovery has started

Villeroy & Boch AG

Target price

 

Recommendation