Västra Hamnen initiates research coverage of Movinn

Analyst coverage is initiated with a fair share value interval of 11.00 - 14.10 DKK.

Company Announcement nr. 6 - 2022 

February 4 2022

Copenhagen, Denmark - 

Movinn A/S has entered into an agreement with Västra Hamnen Corporate Finance AB (Västra Hamnen) about the provision of commissioned research coverage. Västra Hamnen will provide an ongoing analysis of the company, its services, markets and competitors. It will also maintain a financial scenario to be used for estimating fair market valuation of Movinn.

In its initial research report, Västra Hamnen highlights the following:

“The company has grown rapidly in recent years and has ambitious future growth plans. It currently operates apartments in Copenhagen, Aarhus and Odense, but will probably enter foreign markets in the very near term. We expect the company to show positive net profit in 2022 and to grow profits from there. The operating cash flow was already positive in 2021. Investments related to the expansion will draw on cash flows in the next few years, but we reckon the current cash holdings will suffice, unless Movinn decides to acquire other companies.

Our DCF model indicates a fair value for the Movinn share in the interval DKK 11.00 – 14.10 given our current assessment of the risks. As the company matures and major risks are overcome, not least the successful establishment in overseas markets, we see good chances of revising our valuation at a later stage”

The initial research report is available on Västra Hamnen’s website at the following address:
https://www.vhcorp.se/notis/default.aspx?NotisID=2764