MHP Hotel: MOOONS goes Germany, final FY25 out; chg. - NuWays AG Research

Yesterday, MHP provided the market with two news items: (1) the company announced the first
German MOOONS hotel & (2) released its FY25 annual report.

Given strong Q1 momentum (sales up 25% to € 41.5m), the FY guidance of € 225m sales (eNuW: €227m) and >€ 10m reported EBITDA (eNuW: € 10.2m) was confirmed. In our view, the release, especially the MOOONS rollout, fully confirms the investment case as MHP transitions from a franchisee-heavy business model into a multi-pillar platform operator.

At 5.1x FY26e EV/EBITDA the stock continues to trade at highly undemanding levels. We hence
confirm BUY, PT raised to € 3.50 (old: € 3.30), based on DCF.

Länk till analysen i sin helhet: https://www.nuways-ag.com/company/mhp-hotel-ag/research/mooons-goes-germany-final-fy25-out-chg