Hexmac for around 17-19 euros

Platow Brief Monday, September 18, 2000.
As can be ascertained from analysts in advance, Hexmac will probably be launched onto the Neuer Markt at a price of between 17 and 19 euros. This values the Leonberg based company at around 60 million euros at its listing. This corresponds to 6 times its expected sales for 2001, which is pretty much par for the course in this industry. Hexmac defines itself as a content management provider in the high-end sector and sees its position as being better than its main competitors such as Gauss, Vignette and Pironet due to its focus on high-traffic Internet sites. Hexmac reports that it has agreements with 3 of the top 10 sites in terms of page impressions. With a booming Internet market beneath its feet, Hexmac aims to catapult its earnings from around 1 million euros last year, to around 40 million euros in 2004. Losses should be restricted to the years 2000 and 2001. We think that speculative investors should add some of this stock to their portfolios.