Original-Research: The Platform Group AG – from First Berlin Equity Research GmbH 04.08.2025 \/ 11:07 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. <\/p>\n
Classification of First Berlin Equity Research GmbH to The Platform Group AG <\/p>\n
First Berlin Equity Research hat ein Research Update zu The Platform Group AG (ISIN: DE000A2QEFA1) ver\u00f6ffentlicht. Analyst Alexander Rihane best\u00e4tigt seine BUY-Empfehlung und best\u00e4tigt sein Kursziel von EUR 19,00. Zusammenfassung:<\/b> Am 31. Juli erh\u00f6hte The Platform Group die Prognose f\u00fcr 2025 und 2026. Das Unternehmen erwartet nun einen Umsatz von \u20ac715 bis \u20ac730 Mio. (zuvor: \u20ac680 – \u20ac700 Mio.) bei einem bereinigten EBITDA von \u20ac54 bis \u20ac58 Mio. (Marge 7,3% – 8,1%). Diese Prognoseerh\u00f6hung ist auf die get\u00e4tigten Akquisitionen und den Einstieg von TPG in die Optiker- und H\u00f6rakustikbranche zur\u00fcckzuf\u00fchren. Das Unternehmen plant, seine Plattform ‚MyGlasses‘ zur f\u00fchrenden Optikerplattform in der DACH-Region zu machen. TPG hat bereits die \u00dcbernahme von drei Optikern angek\u00fcndigt, die in dem f\u00fcnften Berichtssegment ‚Optik & H\u00f6ren‘ konsolidiert werden. Der Bereich Optik & H\u00f6ren wird voraussichtlich auf Pro-forma-Basis \u00fcber \u20ac30 Mio. zum Umsatz im Jahr 2025 beitragen, bei einer EBITDA-Marge von \u00fcber 25% (\u20ac8 – \u20ac10 Mio.). TPG ist am 28. Juli mit der \u00dcbernahme der B2B-Plattform ‚We Connect Work GmbH‘ in den Bausektor eingestiegen. Wir haben unsere WACC-Sch\u00e4tzung auf 10,55% (vorher: 10,2%) angepasst, um (1) einem h\u00f6heren risikofreien Zinssatz (+20 Basispunkte) und (2) der Umwandlung von TPG in eine SE & Co. KGaA Rechnung zu tragen. Unsere erh\u00f6hten Prognosen werden durch unseren h\u00f6heren Diskontierungssatz ausgeglichen. Ein aktualisiertes DCF-Modell ergibt ein unver\u00e4ndertes Kursziel von \u20ac19. Wir best\u00e4tigen unsere Kaufempfehlung (Aufw\u00e4rtspotenzial: 137%). First Berlin Equity Research has published a research update on The Platform Group AG (ISIN: DE000A2QEFA1). Analyst Alexander Rihane reiterated his BUY rating and maintained his EUR 19.00 price target. Abstract:<\/b> On 31 July, The Platform Group raised its guidance for 2025 and 2026. The company now expects to generate \u20ac715m – \u20ac730m in revenue (previously: \u20ac680m – \u20ac700m), with adjusted EBITDA of \u20ac54m – \u20ac58m (7.3% – 8.1% margin). This guidance increase comes off the back of acquisitions made and TPG’s venture into the optician and hearing acoustics sector. The company plans to make its ‚MyGlasses‘ platform the leading optician platform in the DACH region. TPG has already announced the acquisition of three opticians, which will be consolidated in its 5th reporting segment: ‚Optics & Hearing‘. The Optics & Hearing sector is expected to contribute over \u20ac30m to 2025 revenue on a pro-forma basis, at an EBITDA margin of over 25% (\u20ac8m – \u20ac10m). TPG entered the construction sector on 28 July by acquiring the B2B ‚We Connect Work GmbH‘ platform. We have adjusted our WACC estimate to 10.55% (previously: 10.2%) to account for: (1) a higher risk-free rate (+20bp) and (2) TPG’s change in legal structure to an SE & Co. KGaA. Our increased forecasts are offset by our higher discount rate. An updated DCF model yields an unchanged price target of \u20ac19. We confirm our Buy recommendation (upside: 137%). Bez\u00fcglich der Pflichtangaben gem. \u00a734b WpHG und des Haftungsausschlusses siehe die vollst\u00e4ndige Analyse. \u00a0 You can download the research here: TPG_GR-2025-08-04_EN<\/a> Contact for questions: First Berlin Equity Research GmbH Herr Gaurav Tiwari Tel.: +49 (0)30 809 39 686 web: www.firstberlin.com E-Mail: g.tiwari@firstberlin.com <\/p>\n The EQS Distribution Services include Regulatory Announcements, Financial\/Corporate News and Press Releases. 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