Cantourage's Strategic Maneuvers Amid Regulatory Uncertainty

Cantourage Group SE maintains its growth momentum despite facing regulatory uncertainties and increased competition in Germany. The firm's focus on premium cannabis strains aims to counteract oversupply and pricing pressures in the low to mid-market segments. Management anticipates high growth levels, though no specific fiscal year guidance has been issued yet.

While Germany grapples with potential telemedicine restrictions, Cantourage is leveraging international markets. In Poland, the local market is rebounding, and Cantourage's first export is anticipated by Q4 2025. The United Kingdom serves as a significant growth driver, with sales set to grow 150% year-over-year, driven by an expanded product catalog.

CEO Philip Schetter's return coincides with these strategic shifts. With a current valuation at 0.5x EV/sales for FY25e, analysts maintain a 'BUY' rating, notwithstanding a lowered target price of €10.50, due to temporary uncertainties.