Thread by @itsEbbo

Weng Fine Art AG ( $WFA.DE ) is an art trading company from Germany. At € 25.40 / 2,750,000 sh out., it has a mcap. of ~€ 70m. It also has a 63.33% stake in its artXX AG (art e-commerce in Switzerland) subsidiary (the remaining shares were distributed to shareholders in 2020).

Further, $WFA.DE holds 20.33% of online art auctioning platform @artnet ( $ART.DE, each WFA share holds ~0.42183 ART shares). So, we currently have ~€ 21.20 for $WFA.DE ex. $ART.DE.

FY2020, $WFA.DE had ~€10.4m (+41.1% YoY) in revenue and ~€ 5.3m (+9.3% YoY) in net profit.

So, the company $WFA.DE currently has:
Revenue p. Sh.: € 3.79
Earnings p. Sh.: € 1.93

Thus, incl. $ART.DE (FY2020):
P/S 6.7 & P/E 13.2

Ex. $ART.DE we have (FY2020):
P/S 5.6 & P/E 11.0

Now, add to that a possible IPO of artXX and this seems incredibly cheap.

Watch a interview (in German) with the CEO of $WFA.DE here:

The CEO of $WFA.DE in that video also hints at a possible takeover of $ART.DE if that company doesn't perform well, e.g. turning it into a "Bloomberg of Art Data". Also, he mentions that they are looking into business models regarding #NFTs.

The CEO Rüdiger Weng is the largest shareholder of $WFA.DE (wengfineart.com/investor-relat…) and 27.62% are free float.

The video I linked to above was published yesterday (01 May 2021). However, today (02 May 2021) the company $WFA.DE announced, that it wants to sell up to 100k of treasury shares (2/3 of all TS) to broaden the FF and enhance the company's equity base.

pressetext.com/news/202105020…

The company $WFA.DE has ~€ 16.8m in total liabilities vs. ~€1.7m in liquidity, so there is some risk involved. Tomorrow (03 May 2021), the company will announce its dividend for FY2020.

This is not financial advice and DYODD. I currently have no position in it.