TU Invesment Club Analyst Program

We had the pleasure to welcome MAAT Investment Group for a hands-on session with our Analyst Program members.

‍Dino Mörtl kicked things off by sharing MAAT's investment philosophy: a concentrated, long-term approach focused on European small- and mid-cap equities, looking for value, where traditional sell-side coverage has scaled back.

Afterwards, the World Cup provided a fitting backdrop for a deep-dive into Kambi Group PLC, a B2B sportsbook technology provider. We traced the full investment narrative: from switching costs and business model mechanics, through the operational shift and client churn driven by vertical integration, to bottom-up revenue modelling, scenario analysis, and a replacement cost valuation framework. A big thank you to the MAAT team for such a valuable lecture!