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AlzChem Group AG
(XETRA:ACT)
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Rating:69Neutral
Price Target:
€169.00
▼(-4.30% Downside)
Action:Reiterated
Date:08/04/26
The score is supported primarily by solid financial performance and a constructive earnings outlook (reaffirmed FY2026 guidance, strong Specialty Chemicals margins, and expansion progress). Offsetting factors are weaker technicals (price below key moving averages with negative MACD) and some fundamental risks around free-cash-flow volatility and higher recent debt, while valuation is only moderately attractive (P/E ~23 and a modest ~1.36% yield).
Positive Factors
High‑margin Specialty Chemicals
The specialty segment delivers structurally higher margins and now represents roughly 70% of group sales. Durable demand for application‑specific intermediates and sustained high capacity utilization support margin resilience, recurring cash generation and improved earnings quality over the medium term.
Negative Factors
Weak Free Cash Flow & Volatility
Persistently low and volatile free cash flow limits the company's ability to self‑fund growth, repay debt or return capital, increasing reliance on external financing. Historical swings (including negative cash in 2022) highlight cyclicality and raise execution risk if earnings or working‑capital timing deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
High‑margin Specialty Chemicals
The specialty segment delivers structurally higher margins and now represents roughly 70% of group sales. Durable demand for application‑specific intermediates and sustained high capacity utilization support margin resilience, recurring cash generation and improved earnings quality over the medium term.
Read all positive factors
AlzChem Group AG (ACT) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€1.57B
Dividend Yield1.36%
Average Volume (3M)20.69K
Price to Earnings (P/E)23.0
Beta (1Y)0.51
Revenue GrowthN/A
EPS GrowthN/A
CountryDE
Employees1,680
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)6.70
Shares Outstanding10,176,335
10 Day Avg. Volume15,459
30 Day Avg. Volume20,688
Financial Highlights & Ratios
PEG Ratio1.35
Price to Book (P/B)6.11
Price to Sales (P/S)2.79
P/FCF Ratio39.94
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€216.25Price Target Upside22.45% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)6.58
Revenue Forecast (FY)€606.96M
AlzChem Group AG Business Overview & Revenue Model
Company Description
AlzChem Group AG operates globally, engaging in the development, production, and distribution of a wide array of chemical products through its subsidiaries. The company's reach extends across Germany, the European Union, the rest of Europe, Asia, ...
How the Company Makes Money
AlzChem makes money primarily by producing and selling specialty chemical products and chemical intermediates to business customers. Revenue is generated through (1) sales of specialty chemicals and intermediates—where customers pay per delivered ...
AlzChem Group AG Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive operational and financial picture: revenue and EBITDA growth, margin expansion, strong Specialty Chemicals momentum, secured financing and clear progress on strategic capacity expansions (Germany and U.S.). Counterbalancing risks include a weak Basics & Intermediates/fertilizer market, one-off refurbishment costs (~EUR 10 million) and timing-related cash/prepayment effects that may soften Q3 and weigh on H2 EBITDA sequencing. Management reaffirmed FY 2026 guidance (sales ~EUR 600m, EBITDA ~EUR 126m), reflecting confidence in underlying drivers while acknowledging near-term headwinds and ramp-up costs.Positive Updates
Group revenue and earnings growth
Group revenue increased 6% year-on-year to EUR 304.0 million in H1 2026. EBITDA rose 14% to EUR 64.5 million and EBITDA margin expanded from 19.6% to 21.2%. Net income increased ~14% to EUR 35 million (EPS up similarly).
Negative Updates
Basics & Intermediates weakness and near-term profitability drag
Basics & Intermediates revenue declined 4% in H1 to EUR 75.4 million and segment EBITDA was roughly breakeven (vs EUR 1.3 million prior year). Profitability was temporarily burdened by the scheduled carbide furnace refurbishment (maintenance, shutdown costs) and lower regulatory energy benefits during the outage.
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Q2-2026 Updates
Positive
Negative
Group revenue and earnings growth
Group revenue increased 6% year-on-year to EUR 304.0 million in H1 2026. EBITDA rose 14% to EUR 64.5 million and EBITDA margin expanded from 19.6% to 21.2%. Net income increased ~14% to EUR 35 million (EPS up similarly).
Read all positive updates
Company Guidance
The company confirmed full‑year 2026 guidance of roughly EUR 600 million in sales and about EUR 126 million in EBITDA (implying ~7% sales growth and ~8% EBITDA growth vs. prior year), noting that H1 delivered EUR 304 million sales and EUR 64.5 million EBITDA (H1 EBITDA margin 21.2% vs. 19.6% prior year) with Specialty Chemicals driving performance (H1 specialty sales EUR 214 million, EBITDA ~EUR 64 million, margin ~30%). Management warned Q3 may be softer after some H1 revenue was pulled forward but expects the new nitroguanidine capacity to start contributing in Q4; one‑off furnace refurbishment costs are ~EUR 10 million this year, operating cash flow was EUR 51 million in H1, net income EUR 35 million, equity ratio 40.3%, and a EUR 100 million growth financing package (EUR 80 million disbursed, EUR 20 million committed) was secured.AlzChem Group AG Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
61
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 578.46M | 562.12M | 554.23M | 540.65M | 542.22M | 422.29M |
| Gross Profit | 82.27M | 177.59M | 163.08M | 304.07M | 282.72M | 268.34M |
| EBITDA | 116.51M | 109.44M | 103.96M | 81.75M | 68.06M | 61.89M |
| Net Income | 67.77M | 63.46M | 54.08M | 34.62M | 30.05M | 27.59M |
Balance Sheet | ||||||
| Total Assets | 674.11M | 617.68M | 483.83M | 424.68M | 422.86M | 377.67M |
| Cash, Cash Equivalents and Short-Term Investments | 65.69M | 78.20M | 63.15M | 13.92M | 9.62M | 8.73M |
| Total Debt | 90.22M | 44.23M | 52.82M | 62.49M | 100.23M | 55.64M |
| Total Liabilities | 402.19M | 359.45M | 276.36M | 261.12M | 276.91M | 288.10M |
| Stockholders Equity | 269.90M | 256.30M | 205.54M | 161.63M | 144.01M | 87.63M |
Cash Flow | ||||||
| Free Cash Flow | 18.69M | 39.22M | 62.05M | 52.11M | -33.31M | 14.48M |
| Operating Cash Flow | 116.48M | 137.01M | 105.15M | 72.67M | -4.24M | 43.02M |
| Investing Cash Flow | -137.63M | -96.90M | -30.99M | -20.55M | -28.51M | -28.48M |
| Financing Cash Flow | 22.42M | -29.36M | -24.66M | -49.17M | 33.65M | -23.62M |
AlzChem Group AG Technical Analysis
Negative
176.60
Price Trends
175.91
Negative
172.67
Negative
160.06
Negative
Market Momentum
-3.94
Positive
30.46
Neutral
0.86
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:ACT, the sentiment is Negative. The current price of 176.6 is above the 20-day moving average (MA) of 170.10, above the 50-day MA of 175.91, and above the 200-day MA of 160.06, indicating a bearish trend. The MACD of -3.94 indicates Positive momentum. The RSI at 30.46 is Neutral, neither overbought nor oversold. The STOCH value of 0.86 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:ACT.
AlzChem Group AG Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | €4.89B | 15.45 | 16.38% | 3.53% | 5.53% | 17.05% | |
69 Neutral | €1.57B | 22.97 | 27.13% | 1.19% | ― | ― | |
64 Neutral | €8.17B | 51.80 | 1.89% | 5.85% | -9.37% | -47.49% | |
63 Neutral | €8.83B | 38.70 | 5.27% | 3.22% | -9.48% | -56.88% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | €4.40B | -5.43 | -20.12% | 2.82% | ― | ― | |
49 Neutral | €1.43B | -2.16 | -17.77% | 0.65% | -14.31% | -386.04% |
* Basic Materials Sector Average
DE:ACT
AlzChem Group AG
154.60
-1.18
-0.75%
DE:BNR
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62.08
10.15
19.55%
DE:EVK
Evonik
17.59
2.19
14.19%
DE:FPE
Fuchs Petrolub
34.70
5.30
18.04%
DE:LXS
LANXESS
17.12
-6.30
-26.91%
DE:WCH
Wacker Chemie AG
90.35
27.50
43.75%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.