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MotorK (AMS: MTRK)

Last close As at 20/11/2024

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 | Update

MotorK — Strong pipeline and cash target reaffirmed

TMT | Flash note

MotorK — Enterprise adoption drives growth

TMT | Outlook

MotorK — Refined strategy delivering momentum

TMT | Update

MotorK — Driving efficiency to reach profitability
Transportation and technology concept. ITS (Intelligent Transport Systems). Mobility as a service.
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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

Research

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

Flash note

TMT

MotorK — Enterprise adoption drives growth
Transportation and technology concept. ITS (Intelligent Transport Systems). Mobility as a service.

Outlook

TMT

MotorK — Refined strategy delivering momentum

TMT

Update

MotorK — Strong pipeline and cash target reaffirmed

Update

TMT

MotorK — Driving efficiency to reach profitability

Update

TMT

MotorK — Positive indicators provide strong visibility
Transportation and technology concept. ITS (Intelligent Transport Systems). Mobility as a service.

Update

TMT

MotorK — Cash-generative strategy in place
Transportation and technology concept. ITS (Intelligent Transport Systems). Mobility as a service.

Flash note

TMT

MotorK — Promising signs for 2023

Flash note

TMT

MotorK — Progress through SaaS

Update

MotorK — Taking a more cautious approach

edison tv

TMT

MotorK – executive interview

Initiation

TMT

MotorK — Gearing up for the automotive digital revolution

Thematics

thematic

TMT

MediaWatch – One step forward, two steps back

thematic

TMT

MediaWatch – Encouragements and frustrations

thematic

TMT

MediaWatch – Glimpses of positivity

thematic

TMT

MediaWatch – Rinse and repeat
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