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1. Company Snapshot

1.a. Company Description

KATEK SE, an electronics company, provides electronics value chain services in Germany, Europe, and internationally.Its services include hardware and software development, electronic technology solutions development, prototyping, materials sourcing, circuit board assembly, measuring and testing, and box-build services, as well as logistics and after-sales services.The company also offers clean energy solutions, such as inverters under the Steca brand; charging solutions for electric vehicles under the eSystems brand; and inhouse products under the TeleAlarm brand.


It serves customers in various industries, such as automotive, communication, consumer, industry, energy/solar, and medical industry.The company was founded in 2017 and is headquartered in Munich, Germany.KATEK SE is a subsidiary of PRIMEPULSE SE.

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1.b. Last Insights on KTEK

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1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Returns On Capital At Adecco Group (VTX:ADEN) Paint A Concerning Picture

Feb -28

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Is There Now An Opportunity In KATEK SE (ETR:KTEK)?

Dec -06

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Is The Market Rewarding KATEK SE (ETR:KTEK) With A Negative Sentiment As A Result Of Its Mixed Fundamentals?

Nov -17

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KATEK Second Quarter 2023 Earnings: €0.11 loss per share (vs €0.13 loss in 2Q 2022)

Aug -17

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Sulzer (VTX:SUN) Hasn't Managed To Accelerate Its Returns

Jun -14

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.96%)

6. Segments

Electronics

Expected Growth: 10.27%

Katek SE's 10.27% growth in Electronics is driven by increasing demand for electric vehicles, rising adoption of IoT devices, and growing need for energy-efficient solutions. Additionally, the company's strategic acquisitions and partnerships have expanded its product portfolio and strengthened its market position, contributing to its rapid growth.

Systems & Products

Expected Growth: 9.03%

KATEK SE's Systems & Products segment growth of 9.03% is driven by increasing demand for electric vehicle charging infrastructure, rising adoption of renewable energy systems, and growing need for energy-efficient solutions. Additionally, the company's strategic acquisitions and expansion into new markets have contributed to its growth momentum.

All Other

Expected Growth: 9.27%

Katek SE's 9.27% growth in 'All Other' segment is driven by increasing demand for e-mobility and renewable energy solutions, expansion into new markets, and strategic acquisitions. Additionally, the company's focus on research and development has led to innovative products and services, further boosting growth.

7. Detailed Products

Electronics Manufacturing Services (EMS)

KATEK SE provides comprehensive electronics manufacturing services, including PCB assembly, box build, and testing, for various industries such as automotive, industrial, and medical.

Box Build and System Integration

KATEK SE offers customized box build and system integration services, including mechanical and electrical assembly, wiring, and testing, for complex electronic systems.

PCB Assembly and Prototyping

KATEK SE provides rapid PCB prototyping and assembly services, utilizing advanced surface mount technology (SMT) and through-hole technology (THT) capabilities.

Cable Assembly and Wiring Harness

KATEK SE offers customized cable assembly and wiring harness services, including design, prototyping, and production, for various industries.

After-Sales Services and Repair

KATEK SE provides comprehensive after-sales services, including repair, maintenance, and refurbishment, for electronic systems and devices.

8. KATEK SE's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for KATEK SE is moderate due to the availability of alternative products and services in the market.

Bargaining Power Of Customers

The bargaining power of customers is high due to the presence of large and established customers in the industry.

Bargaining Power Of Suppliers

The bargaining power of suppliers is low due to the presence of multiple suppliers in the market, reducing their negotiating power.

Threat Of New Entrants

The threat of new entrants is moderate due to the presence of barriers to entry, such as high capital requirements and regulatory hurdles.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of established competitors and the need to constantly innovate and improve products and services.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 46.93%
Debt Cost 3.95%
Equity Weight 53.07%
Equity Cost 9.74%
WACC 7.02%
Leverage 88.44%

11. Quality Control: KATEK SE passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Zumtobel

A-Score: 4.6/10

Value: 9.5

Growth: 2.8

Quality: 2.7

Yield: 3.8

Momentum: 1.0

Volatility: 7.7

1-Year Total Return ->

Stock-Card
Leclanché

A-Score: 4.4/10

Value: 8.0

Growth: 4.2

Quality: 5.0

Yield: 0.0

Momentum: 9.0

Volatility: 0.3

1-Year Total Return ->

Stock-Card
KATEK

A-Score: 3.8/10

Value: 7.6

Growth: 7.2

Quality: 2.3

Yield: 0.0

Momentum: 4.0

Volatility: 1.7

1-Year Total Return ->

Stock-Card
Fagerhult

A-Score: 3.5/10

Value: 4.7

Growth: 3.4

Quality: 4.1

Yield: 3.8

Momentum: 1.0

Volatility: 4.0

1-Year Total Return ->

Stock-Card
ADS-TEC Energy

A-Score: 3.3/10

Value: 8.0

Growth: 5.1

Quality: 5.0

Yield: 0.0

Momentum: 1.5

Volatility: 0.3

1-Year Total Return ->

Stock-Card
LEM Holding

A-Score: 1.9/10

Value: 1.6

Growth: 1.4

Quality: 3.0

Yield: 3.1

Momentum: 0.0

Volatility: 2.3

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

15.1$

Current Price

15.1$

Potential

-0.00%

Expected Cash-Flows