Intrinsic Value Clean Logistics SE (SD1.DE)

• Previous Close: €0.27
• Intrinsic Value: n/a
• Upside potential: n/a%

Stock Valuation Context

Business Model And Market Position

Clean Logistics SE is a German company specializing in the conversion of diesel-powered heavy-duty trucks and passenger buses into hydrogen-powered vehicles, positioning itself at the forefront of sustainable transport solutions. Operating in the Auto - Parts sector, the company addresses the growing demand for zero-emission mobility by offering hybatt trucks and buses, alongside funding advisory services. Its pivot from SendR SE to Clean Logistics SE in 2021 underscores its strategic focus on clean energy transitions. The company operates in a niche yet rapidly evolving market, competing with both traditional automotive manufacturers and emerging green tech firms. Its Hamburg base provides access to Europe’s robust logistics and renewable energy infrastructure, enhancing its market positioning. While still in an early growth phase, Clean Logistics SE aims to capitalize on regulatory tailwinds favoring hydrogen mobility, though scalability and adoption rates remain key challenges.

Revenue Profitability And Efficiency

In FY 2021, Clean Logistics SE reported modest revenue of €106,803, overshadowed by a net loss of €2.88 million, reflecting significant upfront investments in R&D and operational scaling. Negative operating cash flow of €1.54 million and capital expenditures of €1.48 million indicate a pre-revenue growth stage, with profitability constrained by high conversion costs and limited commercial deployment.

Earnings Power And Capital Efficiency

The company’s diluted EPS of -€0.21 and negative net income highlight its current lack of earnings power, typical of early-stage cleantech firms. Capital efficiency is strained, as evidenced by elevated cash burn, though its €1.44 million cash reserve provides near-term runway. The minimal debt of €87.59 suggests reliance on equity financing for growth.

Balance Sheet And Financial Health

Clean Logistics SE maintains a lean balance sheet with €1.44 million in cash and negligible debt, reducing near-term solvency risks. However, the absence of substantial tangible assets or recurring revenue streams underscores vulnerability to funding gaps. The equity-heavy structure aligns with its growth phase but may necessitate further dilution to sustain operations.

Growth Trends And Dividend Policy

The company’s growth trajectory hinges on hydrogen adoption in transport, a nascent but high-potential market. With no dividends distributed, all resources are directed toward scaling conversions and technology development. Investor returns are contingent on long-term commercialization success, as near-term financials reflect pre-revenue challenges.

Valuation And Market Expectations

At a market cap of €4.55 million, Clean Logistics SE trades as a speculative bet on hydrogen mobility, with a beta of 0.052 indicating low correlation to broader markets. Valuation lacks traditional metrics due to minimal revenue, leaving it sensitive to sentiment shifts in cleantech and policy developments.

Strategic Advantages And Outlook

Clean Logistics SE’s first-mover advantage in hydrogen conversions and asset-light model are strategic differentiators, but execution risks loom large. The outlook depends on regulatory support, cost reductions in hydrogen tech, and partnerships with logistics firms. Success requires navigating supply chain constraints and proving scalability beyond pilot projects.

Sources

Company filings, Deutsche Börse disclosures