mVISE - Is an H2 catalyst coming?
mVISE is continuing to make progress on its three-year 2018+ strategy. Recent interims saw headline revenues rise nearly 7% y-o-y and 12% organically. With new white-label partners now marketing elastic.io, a big acceleration in product and associated (high-margin) consulting sales is expected in H2, allowing the company to maintain its FY19 guidance. We see the shift to cloud-based, big data-driven platforms providing an excellent long-term growth tailwind. In our view, these prospects are not reflected in a consensus FY20 P/E of 11.9x.mVISE AG, formerly known as Convisual AG, is a Germany-based information technology (IT) company and provider of consulting, implementation and operations services for mobile business solutions. It focuses on the areas of mobility, virtualization and security. Mobility specializes in the development and provision of mobility solutions for smartphones and tablets. Virtualization comprises cloud and IT solutions. Security focuses on security aspects and secure solutions in business environments and data centers. The Company's main product is SaleSphere, which comprises a product management system and allows users to create and manage presentations and to create reports, among others. The Company operates from two offices in Dusseldorf and Frankfurt.
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