123fahrschule SE

123F

Equity

ISIN DE000A2P4HL9 / Valor 57691276

Xetra (2026-02-23)

EUR 2.90-3.97%

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

Key financials

Revenue: EUR 20,613k (+23.7% YoY). Consolidated net loss: EUR ‑3,907k. Total assets: EUR 26,299k. Cash and cash equivalents at year‑end: EUR 745k. Depreciation & amortization: kEUR 3,421.

EBITDA and profitability

Reported consolidated EBITDA improved significantly vs prior year (company cites a 66.8% improvement to approx. EUR ‑887k). Management also provides adjusted EBITDA measures (adjustments for one‑off items and capital‑market costs yield adjusted figures closer to EUR ‑267k). Operating companies (regional driving schools and training centers) delivered cumulative EBITDA of ~kEUR 2,424 (prior year kEUR 824).

Operational KPIs

Driving hours: 182k (+12.3% vs prior year). Registrations: ~9k (slightly down vs prior year). Number of driving instructors: 150 (stable). Branch count: largely unchanged. Customer satisfaction: NPS of 73 in Dec 2023 (vs 62 prior year); Google rating rose to 4.9 from 4.7.

Personnel and cost base

Personnel expenses: EUR 13,659k (avg. headcount ~271; year‑end headcount ~274). Management highlights cost‑optimization and holding‑level restructuring completed in 2023 to reduce overheads and improve scalability.

Liquidity, financing and equity actions

To secure liquidity, the group completed multiple capital measures in 2023: placements and capital increases (including a large November placement of 1,509,946 shares at a set placement price of EUR 1.10 and a December placement of 43,731 shares at EUR 4.00 requested by a principal bank). Management flags cash‑flow and positive EBITDA as top priorities for 2024.

Strategic initiatives & outlook

Focus for 2024 is internal process optimization, further digitalization (proprietary apps, CRM and online theory capability), finance & operational controlling and organic growth of locations and training provider business. Management expects the planned permanent approval of online theory and broader digitalization (targeted from 2025) to accelerate growth and margin improvement.

Risks & opportunities

Principal risks: macro uncertainty (inflation, consumer caution), shortage of driving instructors, IT/technical disruptions and the need to retain/attract key managers. Key opportunities: market consolidation (acquisitions of independent driving schools), expansion of in‑house instructor training (FahrerWerk), and potential regulatory changes (online theory, simulators/B197) that could strengthen 123fahrschule’s digital advantage.

Summarized from source with an LLMView Source

Key figures

9.85%1Y

-44.6%3Y

%5Y

Performance

41.5%1Y

75.1%3Y

67.3%5Y

Volatility