Stroeer Shars Climb on Online Potential: Frankfurt Mover
Stroeer, which last week reported a return to profit in the three months through June 30, gained as much as 4.7 percent to 11.40 euros, the highest intraday price since May 2012. The shares traded up 2.6 percent at 1:58 p.m. in Frankfurt with volume exceeding the three-month daily average.
The acquisition of a 91 percent stake in Munich-based adscale GmbH, a provider of an online ad exchange, in December, and Berlin-based mobile advertising company RAdcarpet from Servtag GmbH in May is boosting growth potential, said Marcus Silbe, a Frankfurt-based analyst at Close Brothers Seydler Research AG.
“Stroeer will benefit from being able to offer customers billboard and online advertisement as a package in the mid- and long-term,” said Silbe. “This would be a structural advantage.”
The stock has gained more than 70 percent this year, valuing the company at about 550 million euros ($736 million). Stroeer reported a second-quarter profit of 3.47 million euros last week, compared with a loss of 5.78 million euros in the first quarter.
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