Scale market report: “Stock market turbulence is a burden”
The customs chaos and the slump on the stock markets are also weighing on the scale segment. The top seller is engine manufacturer Steyr. Although the share is trading well below its March highs, the price has still doubled this year.
11 April 2025. FRANKFURT (Börse Frankfurt). The global sell-off on the stock markets has not spared the Scale segment. On Friday morning, the Scale All Share Index stood at 1,012 points, compared with 1,133 points a month ago. The eye-catcher in the segment at the moment is clearly Steyr Motors (AT0000A3FW25). The share price of the Austrian engine manufacturer rose rapidly in mid-March to a peak of EUR 430. It then fell again almost as rapidly to the current level of EUR 34. Compared to the level at the beginning of the year, however, this is still a doubling of the share price.
Steyr is benefiting from the armaments boom, as the company produces engines for military applications. Steyr recently announced an important order from India for the delivery of high-performance diesel engines. The investment company Mutares, itself a former Scale member, has now disposed of a large package of Steyr shares and now only holds around 40 percent.
Top seller Steyr. Steyr was by far the most traded Scale share on the marketplaces of the German stock exchange in March with a turnover of 205 million euros. It was followed by the usual high-volume stocks 2G Energy (DE000A0HL8N9) with 23 million euros, Mensch und Maschine (DE0006580806) with 15 million euros and Verve Group (SE0018538068) and Deutsche Rohstoff AG (DE000A0XYG76) with 7 million euros each.
On a twelve-month basis, Swissnet (CH0451123589) is the best performer this time with a price increase of 57%. Verve Group (SE0018538068), MPC Capital (DE000A1TNWJ4), Apontis Pharma (DE000A3CMGM5) and Cyan (DE000A2E4SV8) have also performed well since April 2024.
Veganz recovers, 2G share price volatile upwards
The Veganz Group (DE000A3E5ED2) is clearly on the rise, at least this year. The share price has climbed from 5 to 7.22 euros since the beginning of January. The fact that the provider of vegan food (“Veganer Genuss aus Berlin”) has announced a significant reduction in losses for 2024 compared to 2023, albeit with declining sales in its core business, has been well received. Veganz has been restructuring its business since 2023. It has closed its own stores and significantly reduced its product range. The company wants to focus on higher-margin items, including the milk substitute “Mililk” and the meat substitute products “Peas-on-Earth”.
The 2G Energy share (DE000A0HL8N9), which always generates high turnover, is also up this year despite high volatility. The manufacturer of combined heat and power plants and heat pumps reported an increase in sales and profit margin for 2024. The company also expects to improve its profitability in the coming years. The share is currently trading at EUR 25.10, compared to EUR 22.80 at the end of 2024.
Cantourage with “strongest quarter in the company's history”
Cantourage (DE000A3DSV01), on the other hand, is not really making any headway. Yesterday, Thursday, the manufacturer of medical cannabis reported the strongest quarter in the company's history. Turnover climbed to 25.6 million euros in the first quarter - a new record. The share price is currently 4.20 euros, compared to 4.60 euros at the beginning of the year and 6.48 euros at the IPO in fall 2022.
The analyst firm Montega is again advising investors to invest in Cantourage and has set a price target of EUR 12 - also in view of the future government in Germany. “The coalition agreement on cannabis states that an open-ended evaluation of the law on the legalization of cannabis is to be carried out in autumn 2025,” it says. Although associations and interest groups continue to call for a revision of the law, a return to the situation before April 2024 is increasingly unlikely.
Further recommendations for scale stocks
| Analysehaus/Bank | Scale-Unternehmen | Empfehlung | Kursziel in Euro | aktueller Kurs in Euro |
| NuWays | mVise | Kaufen | 1,30 | 0,45 |
by Anna-Maria Borse © 11 April 2025, Deutsche Börse AG
About the author
Anna-Maria Borse is a financial and business editor specializing in the financial market/stock exchange and economic topics.
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