Eurotech

Hello, it's Philipp Haas from Invest Research TV and Therefore, the hint is that I am indirectly here, at least invested, there can be an interesting conflict and that is of course not an investment advice or investment recommendation. It is about the Euro-Tech-Aktions, a bit of a generic name. They sit in Italy. I don't find Italy so uninteresting, because I think the country has been looking at international investors for 10 years no longer and there are similar to us, the one or the other interesting intermediary that is also noted in the verse, Of course, you have to be careful about the buzzwords and the business model is not the best so far, but they are a leading provider of edge computing. What is edge computing? The calculation performance is at the limit, especially when driving autonomously. Two or three years ago, everything was about the cloud. Of course, that is also important, but I can do everything with the cloud. Especially with demanding applications with high data rates, things have to be calculated locally, or for example a security camera that does not always put everything in the cloud, but can then decide locally. They even call it HII, whether it is worth it to hit alarm or not and then activate the cloud or drive autonomously. So the car must also be able to brake if it is not directly connected to the internet or such topics. They have more or less test cases where they are for such test applications, for example manufacturing industry PCs. They have, for example, the InnoNet, which sits in Germany, so maybe also IroTech, which embed PCs, etc. They are finished, the margins are of course quite okay, but of course the value is not so high because they are built together a bit Nevertheless, the companies look at it, of course, that it works and less on the costs. I have also seen a car Currently these test cars are sitting in really huge PCs. And that, for example, what they do, but also other applications, for example the topic of industrial automation and such topics. And they are also in the software field. It is one of those who has the hardware, but that is also software. And of course, the whole edge computing can be a mega topic, especially in connection with artificial intelligence and the shares of this whole AI hype have not yet been included. We see here the chart share, which was at almost 10 euros, is now at 3 euros and also why it is interesting next year is the KGV under 10. Of course, you have to see how these estimates are, but they have already made a few contracts that it is realistic. And that is of course a huge lever when I have invested a lot of years in technology and then at some point the profits come, but I made losses in advance. And that is, in my opinion, not so discovered yet. But of course you also know that this is a small speculative action in a modern technological field. There can of course be a lot of changes. And that can of course also go completely backwards. The last n They also grow organically. It is important, let'say, in the possible recession with 23 percent at a decent cross-profit margin of 47 percent. And that is just one quota. But they are also doing net profit, which is not very understandable, so technology and they also want to concentrate more on the close things, things that will also make in the next quarter and not a few years. And with this so-called HIOT, for example, they work as cameras or others, they also work with the so-called hyperscalers, so AWS or Microsoft Azure together. And over that you can sometimes win new customers relatively efficiently, because they don't say to themselves, here is my cloud, if you want to calculate something locally, maybe not the biggest fans. But we also offer the cut-scenes for that, because we also know that you are here at Autonomafan. We can't do everything. And they have some projects here. And maybe there are more opportunities for you to drive in Autonomafan with your industry PCs and outside of test cases. Of course, there are more competition if you go into the larger scale. But as we can see here, transportation, industry automation, but also energy and energy networks are not a huge s But the company is worth only 100 million, if I am there, 30 million additional costs are already fine. And this HIIOT is of course a nice word for strike, it will also take more into the commercial part and that has also earned a higher multiple. Of course, you have to wait a little bit, how a possible recession is developed in the second half of the year. Just such pilot projects are then re-stamped. Nevertheless, the n And if they continue to grow a little bit, the rate seems to me absolutely and relatively not so expensive. And we have also seen it. Yes, it was a long time, test cases and now the real deal is to be applied. There are all the estimates that are not exactly the same for a small cap, but if it comes But you have to take the estimates, I have to take care of them for 24 less certain prices. But I also And if something Currently a fair KGV from 20 has been applied to the model fair KGV. Or if we are also slightly underrated for the current year, but next year a decent and increase in potential, maybe even more. As I said, the stock was almost three times as high. So that was a short and short overview of EuroTech. We do not want to go too deep with such a small stock. Maybe you have seen one or the other in the Wikifolis and also minimally in the front, so again a hint on the interest conflicts. Otherwise, thank you very much for watching, maybe for the investors. The products are linked down below and