ACF revises REPX upwards by 40%: market cap at 50M and minimum target price between 15.95 and 16.77 euros

ACF has launched a analysis report outlining REPX’s progress, revising its target price upwards by greater than 40% in view of the forthcoming London itemizing.
The Reputation Exchange Plc (CY:CSE:REPX)LONDON, UNITED KINGDOM, August 23, 2021 / — – Analysts are more and more liking the enterprise mannequin of REPX, the London-based fintech with an Italian soul that’s innovating the normal funds business by combining cost know-how and the eagerness of a whole lot of tens of millions of followers around the globe with social media. REPX offers sports activities groups, celebrities, influencers, manufacturers, iconic cities, the chance to attach with their fan base in modern methods by unique co-branded pay as you go playing cards coated by proprietary patents. REPX has achieved undisputed management within the market area of interest of co-branded cost playing cards destined for the world of soccer and its followers, which has seen it signal agreements with crucial groups in Italy (Milan and Rome, amongst others), and the world (with essentially the most iconic soccer staff of all, Real Madrid), in addition to English, German and quickly, French groups.
ACF, an impartial analysis home licensed by the FCA, the UK regulator, just lately launched a analysis report on the corporate (out there on-line for viewing, outlining REPX’s progress when it comes to achievements and strategic partnerships. ACF is persistently ranked primary amongst worldwide financial evaluation institutes for the effectiveness of investor engagement on digital and social media channels.ACF factors out that REPX’s “social engagement affiliate internet marketing” mannequin, outlined as “distinctive”, which goals at the diffusion of about half one million pay as you go playing cards within the subsequent 12 months, is attaining all of the goals set: the corporate is within the ultimate part of admission to the itemizing course of on the London Stock Exchange, is already listed on the Cyprus Stock Exchange, has concluded agreements for the distribution of its cost playing cards all through the SEPA space, in addition to in North and South America, and Deloitte is working to choice a strategic industrial accomplice.
ACF factors out that, because of REPX’s peculiar enterprise mannequin, it expects excessive income development, low advertising and marketing prices in comparison with its opponents, in addition to the management of working and capital prices in place will result in an anticipated era of free money circulate and specifies that it has reasoned on extremely prudential assumptions relating to the variety of subscriptions that may be achieved.
Among the outcomes already achieved by REPX, that can flip into speedy development in turnover, are the completion of the acquisition of BBS-One (IT firm that provides options and software program improvement), the manufacturing of the primary 140 thousand playing cards, the expansion to 100 thousand bodily factors, together with these of large-scale distribution, the place pay as you go playing cards and Gift Cards might be provided (because of agreements with Mooney and Epipoli), the primary app for supporters that’s operational and in use (the Roma Football Club app) with the relative first 20 thousand cost playing cards on the market, the strengthening of the board with the addition of Executive Chairman Ezio Maria Simonelli and Executive Director Ernesto Paolillo, high-level profiles with expertise each on the earth {of professional} soccer and within the Italian banking and business industries.
ACF instantly assigns a valuation of REPX shares (presently listed in Cyprus at €11.25) between €15.95 and €16.77, for an implied capitalization of €51.28 million, thus attributing a right away potential upside to the worth of the present inventory of greater than 40%. The analyst agency estimates income of €19.63 million in 2022 and €25.24 million in 2023, comparable to EPS of €1.53 and €2.66 respectively. As proof of a particularly conservative valuation, the enterprise worth corresponds to a gross sales a number of of two.6 (in 2022) and 2.0 (in 2023).
ACF recollects in its report that, based on a analysis just lately revealed by Sponsor United, an business benchmark for model evaluation in sport and its visibility, REPX already ranks ninth on the earth, amongst 109 fintech manufacturers considered for stage of visibility in sport, behind actual “unicorns” however forward of essential opponents. In addition, REPX has made the strategic choice to enter the world of Esports by a partnership and thus creating an modern platform and cost card, completely designed for the world of Esports players.
REPX has a number of merchandise – once more the analysis observe underlines – on the launching pad for the 2021/22 biennium: the Payfan Card, a number of Gift Cards, the 8xMille Card (expressly designed for the so referred to as charitable “Third Sector”), the BeFriend app, the Fashion Card (with an anti-counterfeiting perspective), in addition to playing cards with two chips and the Black Box Card. In the report by the London-based analytics home, it’s identified that REPX now has a pool of over 480 million followers of the soccer groups or celebrities with whom it has signed agreements and that, even utilizing a particularly conservative conversion fee of 0.10-0.13% of half of their (lively) follower base, this equates to 435,000 playing cards in manufacturing by 2023, numbers that may instantly challenge REPX among the many related gamers on the earth of neo banks, a sector estimated to develop 48.1% in mixture over the interval 2019-2027 for a complete market worth of over $471 billion.
ACF continues its evaluation by stating that neo-banks are often valued on the premise of a worth per card issued, round €400/600 per subscription. REPX is within the early levels of its enterprise cycle and so ACF reductions its valuation by 65% in comparison with the primary gamers within the market, giving it a worth of solely €163 per deliberate subscription.Among the optimistic catalysts for improvement, ACF cites the issuance of the three.5-million-euro bond listed on the Vienna Stock Exchange in current days, which can finance the corporate’s strategic plan, the quite a few further partnerships the corporate is engaged on with world-class sports activities groups and numerous celebrities, and the opportunity of the entry of a significant industrial accomplice below evaluate by Deloitte.
Lastly, ACF factors out that the actual fact of utilizing the typical free money circulate and EBITDA multiples of listed firms within the sector already suggests a weighted honest worth of €108Antonio MattaThe Reputation Exchange PLCemail us hereVisit us on social media:LinkedIn

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August 23, 2021, 12:33 GMT

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