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Research update: Data Modul AG

August 10, 2010



Displays to keep an eye on

Strong earnings momentum in Q2
Data Modul reported excellent Q2/10 figures. Revenues were up 37.4% to €28.3mn from €20.6mn in Q2/09. Both segments, Industry and Information systems, contributed to ...


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Research update: Data Modul AG

July 21, 2010



Strong improvement of operating profits

... Our demand checks indicate that fundamental demand for IT products, both in the industrial and the information systems segment, appears to ...


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Research update: Data Modul AG

April 30, 2009



So far, so good - but it could become worse

Release of Q1/09 figures
Data Modul reported a weak set of Q1/09 results, though in line with management guidance and with our expectations. During the period, revenues decreased by 17.8% YoY to €27.9mn versus our estimates of ...


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Research update: Data Modul AG

March 12, 2009



Global recession will bite harder than expected

Release of FY2008 figures
Data Modul published key data for FY2008 yesterday morning. Total sales of €132.6mn fell short of our estimates of...


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Research update: Data Modul AG

March 13, 2008



Globalisation in huge strides

Reiterate Buy recommendation
We remain Buyers on Data Modul. (a) As expected, the discontinuation of multi-media business has led to a sustained increase in profitability levels. (b) By the end of 2008, Data Modul should be a virtually debt-free company.
(c) We believe that the stock is significantly undervalued at a 2008e PE of 6.0.

Full compliance with ambitious guidance
Management has kept all the promises it made for the past business...


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Research update: Data Modul

August 24, 2007



It's a margin play now!

Significant margin improvement in H1/2007. We maintain a Buy recommendation on Data Modul. (a) The discontinuation of the low-margin Multimedia business is leading to a sustained increase in profitability multiples. (b) By the end of 2008, Data Modul should be a virtually debt-free company. (c) We believe that the stock is significantly undervalued at a ...


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Initiation of Coverage: Data Modul AG

July 24, 2007



The display specialist

With a market share of 4%, Data Modul is Europe's leading system supplier of flat panel displays for industrial applications and information systems. The company's ready-made or made-to-order products are bought by manufacturers of medical and ship technology, transport authorities, companies from telecommunications...


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