LHV Institutional Baltic Insight, August 9th, 2021
* On 6th August, HansaMatrix (HMX1R LR) announced that it had signed a new notable manufacturing contract to supply human-machine interface electronic devices to an industrial sector customer located in Germany. While we are glad to see the Group being able to expand its client portfolio in the industrial segment and further diversify its revenue base, the gradual increase in the core production volumes is quite expected, and we do not plan to make any major adjustments to our medium-term revenue projections at this stage.* Mostly due to the developments at LightSpace and its expected growing contribution to the performance and value of HMX, in May 2021, we decided to considerably upgrade our fair value range (‘FVR’) for the stock to EUR 15.00-16.40 per share. HMX will publish its full Q2 2020 report on Friday, 13th August.
* Please also refer to the tables in the attachment.
LHV Bank is an independent pan-Baltic bank, based on Estonian capital. The company was founded in 1999 by two founders of Hansapank (today’s Swedbank in the Baltics) and has been offering a full range of investment services for 15 years. In May 2009, LHV received a credit institution licence allowing it to provide all banking services.
The head office is situated in Tallinn, Estonia. Cross-border services are offered in Vilnius, Lithuania and in Riga, Latvia. LHV provides brokerage (institutional and retail), asset management, banking and capital markets services. Compared to other banks, we are more innovative and have more solid experience in investment and entrepreneurship.
The Bank, together with the Group asset management company employs over 320 people. LHV Group shares are listed on Nasdaq Tallinn.
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