August 23, 2023
A&M Germany: Valuation Insights
A&M’s Germany Valuation Insights analyses how the price for taking equity risks in Germany continues its decreasing trend in the rising interest rate environment.
In a one-year comparison, mostly the recovery in asset prices led to rising multiples from previous record low levels.
The recovery in asset prices led to Enterprise Values (EV) increases across most industries except Healthcare and Telecommunication.
- Fundamentally, sales outlooks across industries are far less optimistic compared to a year ago. Especially, strong previous growth outlooks in Energy & Materials amid the war in the Ukraine and in Transportation & Logistics following the slowdown in the COVID-19 pandemic dropped from their peeks in 2022.
- EBITDA margins, in turn, are projected to remain rather stable compared to estimated levels a year ago. As such, it, at least partly seems, that rising input costs are mostly passed on to consumers in most industries.
- As a result of recovered asset prices, forward EV/EBITDA multiples increased across most industries.
Download the full results of A&M Germany Valuation Insights.
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July 2022
June 2022
February 2022
September 2021
February 2021
August 2020
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