123fahrschule SE

123F

Equity

ISIN DE000A2P4HL9 / Valor 57691276

Xetra (2026-05-28)

EUR 2.62+1.55%

123fahrschule SE
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About company

123fahrschule SE is a driving school company that has modernized the traditional approach to driver education through digitalization. With over 60 locations across Germany, the company offers a wide range of driver training courses, including intensive courses for new drivers and specialized training for different vehicle classes such as cars, motorcycles, and trucks. 123fahrschule SE distinguishes itself by leveraging technology to facilitate the learning process, allowing students to manage their driving education via an app that encompasses all aspects of their training, from theory to practice. This approach not only aims to make obtaining a driver's license more accessible and efficient but also caters to the needs of a diverse student base by providing flexible learning options. The company's innovative use of digital tools and its commitment to high-quality instruction with a modern fleet of vehicles underscore its position as a leading driving school in Germany.

Summarized from source with an LLMView SourceSector: Business Services

Top-line performance

Revenue: EUR 22.8 million in 2024, an increase of ~10% year-on-year. Growth was described as largely organic; three stores opened in H2 2024 had no significant sales impact yet.

Profitability improvement

EBITDA improved to about EUR 400k in 2024 (vs. EUR -887k in 2023), a swing of roughly EUR 1.3 million, reflecting continuous progress on profitability and operating economies of scale.

Cash flow

Cash flow from operating activities increased significantly and is reported to be above the reported EBITDA, supporting improved cash generation, though some 2025 investments are not fully covered by operating cash flow.

2025 guidance

Management expects consolidated revenues of EUR 28–30 million and EBITDA of EUR 1.5–2.5 million for 2025, driven by branch expansion (Berlin, Hamburg, Cologne) and growth in the Simulator Division.

Simulator Division momentum

Foerst Simulators posted early-2025 traction: a new major international truck-simulator customer plus domestic orders generated ~EUR 1 million of new orders in two weeks, already exceeding the prior year’s Simulator Division sales. Management believes the division could deliver at least EUR 2–3 million revenue in 2025 with an attractive EBITDA margin, aided by potential regulatory recognition of simulators.

Organizational moves

Management additions to strengthen Marketing and Sales have been made; in March 2025 retail executive Marc Nölle will assume responsibility for driving-school operations and the current 60 branches to push further profitability and operational optimization.

Financing for investments

To fund software development and simulator investments, the company initiated a subscription offer for a convertible bond with a nominal amount up to EUR 3,391,485.90.

Other corporate context

123fahrschule SE is the largest B-segment driving-school chain in Germany with >60 locations and a stated plan to expand toward ~200 locations; the company flags forward-looking risks and will publish audited results on March 31, 2025.

Summarized from source with an LLMView Source

Key figures

-29.6%1Y

-62.2%3Y

%5Y

Performance

40.6%1Y

71.2%3Y

65.9%5Y

Volatility