Mynaric AG

18.07.2018 - Equity Research Report (english) // buy

Research Report (Anno) - Mynaric AG - english

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Unternehmen: Mynaric AG
Branche: Industrie-Maschinenbau-Technologie-Automotive
Rating: buy
Kurs bei Erstellung in €: 51,30
Kursziel in €: 95,00
Mögl. Interessenskonflikt gem. §34b Abs.1 WpHG und FinAnv: 5a;5b;11

Mynaric specialises in the development and production of laser-based products for use in laser-supported communications networks. This business segment is still a young, relatively under-developed market, however, in our opinion, it is beginning to “clearly pick up speed slowly”. For this segment, we are expecting very dynamic market growth and believe that, over the long term, market volume in the double-digit millions range will be possible.

In the past, Mynaric has mainly concentrated on the development of pre-series products, so as to use them with potential customers for testing and demonstration purposes. As a result, total output has still not been achieved and with rising R&D expenses, the technology company has not yet achieved an operating profit. The performance of the products developed so far has been demonstrated successfully in customer tests, where two world
records have been achieved. In addition, as a result of the research cooperation with the renowned Leti CEA Tech Research Institute, the performance of the products will be further improved, so that technological advances in the field of laser communications can be expanded. In addition to this, the cost structure of the products will be optimised further,
thereby increasing benefits for the customer.


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