beaconsmind AG: First Berlin Equity Research GmbH starts coverage of the beaconsmind share with a Buy recommendation – target price EUR 22.00

Zurich, Switzerland – 29 November 2022 – First Berlin Equity Research GmbH has started its coverage of beaconsmind AG (ISIN: CH0451123589 - Ticker: MLBMD), a leading SaaS provider in the field of Location-Based Marketing (LBM) & Analytics, and has issued a Buy recommendation for the company's shares. The target price is EUR 22.00. First Berlin thus sees a high share price potential of around 82 percent. The closing price of the beaconsmind share was EUR 12.10 (XETRA) on 28 November 2022.

First Berlin expects the revenue growth of beaconsmind to accelerate significantly in the coming years: The revenue growth will be driven, among other things, by the recent acquisition of a majority stake in FREDERIX Hotspot. FREDERIX has an attractive portfolio with a high cross-selling potential with 530 customers and around 10,400 points of sale, including customers such as Lidl and Kaufland. The use of the beaconsmind solution at key account Adidas already shows the great potential of beaconsmind's location-based marketing solution and could draw the attention of other well-known companies to beaconsmind. In addition, experts agree that after the closure of retail shops due to the pandemic, the retailers that have the best chances of success are those that use LBM solutions in their stores and thus change the customer experience. The pipeline currently includes several major customers with a revenue potential of CHF 5 to 50 million each. For 2023, First Berlin forecasts sales revenues of CHF 8.71 million and for 2024 CHF 16.09 million, with EPS of CHF 1.02 by that time. Break-even is expected for 2023.

The current study on beaconsmind by First Berlin Equity Research GmbH is available for download on beaconsmind's corporate website in the "Investor Relations" section. beaconsmind is currently accompanied by a total of four research houses, which unanimously recommend the beaconsmind share as a Buy. The upside targets are between EUR 20.00 and 30.00. The current studies by Quirin Privatbank AG, Baader Bank AG and Hauck & Aufhäuser Lampe Privatbank AG are likewise available on beaconsmind's corporate website in the "Investor Relations" section.

About beaconsmind

Founded in 2015 in Switzerland, beaconsmind AG is a pioneer in the field of location-based marketing (LBM) software for retail chains. By fitting stores with Bluetooth beacons that precisely locate and identify customers, and by integrating its Software Suite, beaconsmind opens a brand-new channel for retailers to interact with their customers. Thanks to its solution, retailers can converge digital and physical shopping and address the convenience gaps of each. The shares of the company (ISIN: CH0451123589 – Ticker: MLBMD) are listed on the Frankfurt Stock Exchange with XETRA trading and on Euronext in Paris.

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