Review of the 41st MKK Munich Capital Market Conference: Hochtief, RENK, Elmos & Co. take the MKK to a new level

The geopolitical conflict surrounding Iran remains a key uncertainty factor for global capital markets. In particular, the situation in the Strait of Hormuz, through which a significant share of global oil trade is handled, is increasingly coming into focus. Restrictions on shipping traffic and a rising military presence are putting pressure on energy supply and leading to noticeable price increases for oil and gas. As a result, inflation risks are increasing, while planning reliability for companies and investors is declining.

Against this challenging macroeconomic backdrop, the 41st MKK – Munich Capital Market Conference of GBC AG took place on April 22 and 23, 2026. Over two days, Munich once again became a meeting point for the German-speaking capital markets community. More than 50 companies presented themselves to a broad audience of around 500 investors, analysts and financial journalists, using the platform for direct exchange. The continued strong demand for 1-on-1 meetings and well-attended presentations underlined the relevance of the format, particularly in an environment of heightened uncertainty.

Bigger, more relevant, more high-calibre – the MKK continues to grow

The 41st edition of the MKK confirmed the structural growth trajectory of the event. In addition to traditional small- and mid-cap companies, an increasing number of larger listed companies are taking part. With Hochtief (ISIN: DE0006070006), RENK (ISIN: DE000RENK730), Elmos Semiconductor (ISIN: DE0005677108), Knorr-Bremse (ISIN: DE000KBX1006) and tonies SE (ISIN: LU2333563281), several established industrial and technology groups presented at the conference, further enhancing the format.

This development highlights the MKK’s increasing positioning as an interface between growth-oriented Mittelstand companies and established mid-caps in the billion-euro range. In a volatile environment, the need for direct communication with the capital market is particularly high. Accordingly, the opportunity for personal exchange was used intensively.

Manuel Hölzle, Chief Analyst and member of the Management Board of GBC, drew a clear conclusion:

“The 41st MKK in Munich was once again a complete success. The concept of bringing together a broad range of companies, from Mittelstand businesses to billion-euro mid-caps as well as selected international companies, has clearly proven itself. The strong response and high level of investor interest show that this format continues to work very well and makes an important contribution to increasing companies’ visibility on the capital market.”

Jörg Grunwald, Head of Conference and member of the Management Board of GBC, added:

“We are very pleased that we were able to present many German industrial companies such as Pfisterer, INDUS, KSB, RENK and Knorr-Bremse. Especially in times of technological change, including automation and energy efficiency, a deeper insight into this sector is crucial for investors in order to understand the strength of German Engineering beyond the well-known DAX companies.”

Internationalisation continues to increase – resource-related topics gain importance

One key trend at this year’s conference was the increasing internationalisation. More and more companies from other European countries and beyond are using the MKK as a platform to present themselves to investors.

Particularly striking was the growing presence of companies from resource-related and energy-related sectors. Green X Metals (ISIN: AU0000198939) focuses its business activities on the Tannenberg copper project in Germany, which is considered highly prospective for sediment-hosted copper deposits. Power Metallic Mines (ISIN: CA73929R1055), a Canadian company, presented its plans to develop the NISK project in Québec into a polymetallic mine. Military Metals Corp. (ISIN: CA5997841054), in turn, focuses on the exploration of the critical raw material antimony, which is essential for military applications such as ammunition, sensors and high-tech equipment, while Lahontan Gold (ISIN: CA50732M1014) highlighted the potential of its gold and silver projects in Nevada.

Against the backdrop of geopolitical tensions and potential supply bottlenecks, securing critical resources is increasingly moving into the focus of institutional investors. Topics such as energy supply, raw material availability and resilient supply chains therefore gained in importance and were reflected in the strong interest shown by conference participants.

Analyst focus: scalable business models and turnaround opportunities

In addition to macroeconomic trends, specific investment stories were in focus, particularly from the coverage universe of GBC analysts.

Verve Group SE (ISIN: SE0018538068) convinced financial experts with its scalable AdTech business model, which benefits from structural growth in the digital advertising market. With increasing data monetisation and rising profitability, the analysts see a price target of EUR 7.65.

UmweltBank AG (ISIN: DE0005570808), in turn, represents a classic turnaround story. Improved efficiency indicators, a declining cost-income ratio and structural tailwinds from sustainable finance support the price target of EUR 9.00.

NanoRepro (ISIN: DE0006577109), with its focus on point-of-care diagnostics and prevention, addresses a growing healthcare market. Additional potential arises from higher-margin platform and brand approaches. The price target stands at EUR 4.50.

With Finexity AG (ISIN: DE000A40ET88), an innovative player in the field of asset tokenisation is moving into focus. The scalable platform offers significant growth potential, which is reflected in the price target of EUR 72.00. Meanwhile, International School Augsburg AG (ISIN: DE000A2AA1Q5) stands out with a predictable business model and stable cash flows. The expansion of the school campus is considered a key growth driver. The analysts see a price target of EUR 19.50.

MKK remains a central meeting point for the capital markets community

The 41st MKK once again demonstrated that direct exchange between companies and investors remains highly important, even in a challenging market environment. The combination of growth-oriented small caps, established mid-caps and increasing international participation underlines the strategic development of the format.

Even after the 41st MKK Munich Capital Market Conference, GBC AG will offer further formats throughout the year to connect capital market participants with interesting Mittelstand companies. On May 20, together with Apaton AG, the successful online format, the 19th IIF – International Investment Forum, will take place. The 5th Zurich Investor Day, featuring six presenting companies, will follow on September 29, 2026. Finally, the 42nd edition of the MKK Munich Capital Market Conference is planned to take place once again at The Charles Hotel in the Bavarian capital on November 11 and 12, 2026, with around 60 participating companies.

Author: Stefan Feulner, freelance journalist

Risk notice:
This communication does not constitute financial analysis within the meaning of Section 34b of the German Securities Trading Act (WpHG), nor does it constitute investment advice or a recommendation. Investments in shares are generally associated with risks, including the total loss of the capital invested.

Notice regarding potential conflicts of interest pursuant to Section 85 WpHG and Art. 20 MAR:
GBC AG and the responsible analyst point out that potential conflicts of interest may exist at the time of publication. Details can be found in the full research report and at: www.gbc-ag.de/de/Offenlegung.

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