Reviewed listing: XETR:RTC · Analysis dated Oct 30, 2026
The underlying information has changed since this analysis. This earlier assessment has not yet been updated for those changes. It refers to the analysis date and original reviewed price shown here.
How does the company make money?
REALTECH sells companies software and consulting services for operating and transforming their SAP systems. The company earns money from software licenses, subscriptions, as well as support and consulting.
What supports the business?
As of June 30, 2026, REALTECH had 8.284 million euros in cash and financial investments. This financial cushion helps despite the loss in the first half.
What could improve?
REALTECH maintains its outlook for stable revenue and positive operating income before one-off special costs for 2026. This also depends on whether delayed customer projects go ahead; the first-half figures do not yet show the expected recovery.
How is the stock price assessed?
This assessment refers to the analysis and its quoted price shown here. It is not a live quote or a personal recommendation to buy.
At the specified price of 1.03 euros, the stock appears expensive: its market capitalization is approximately 5.55 million euros by calculation, while the group made only 30,000 euros in profit in 2025 and reported a loss in the first half of 2026. The prospect of a positive operating result 2026 before one-time special costs argues against this, but has not yet been achieved.
What is the main risk?
In the first half of 2026, REALTECH posted a loss of 268,000 euros, compared with 14,000 euros in the prior-year period. If delayed customer projects are further postponed, the positive operating result before one-time special costs expected for 2026 could also fail to materialize.
What is the overall assessment?
REALTECH grew 2025, but in the first half 2026 revenue fell and the group reported a loss. The existing financial cushion and the expectation of positive operating income for 2026 before one-time special costs support the outlook, but the current price is not convincing given the still-weak results.
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