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Relais Group

15.00 EUR

+0.67 %

3,851 following
Corporate customer

RELAIS

NASDAQ Helsinki

Automobiles

Consumer Goods & Services

+0.67 %
+4.17 %
-6.25 %
-10.18 %
-6.54 %
-4.46 %
+6.38 %
-7.41 %
+104.08 %

Relais Group is an importer and wholesaler for the automotive industry. The group focuses mainly on the development of automotive electronic equipment for trucks. Examples of products that the company supplies include lighting products, applications for warning lights, camera systems, and other spare parts for heavy vehicles. The largest operations are found in the Nordic and Baltic markets, with customers in the aftermarket industry.

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Market cap
278.41M EUR
Turnover
47.23K EUR
P/E (adj.) (26e)
EV/EBIT (adj.) (26e)
P/B (26e)
EV/S (26e)
Dividend yield-% (26e)
Coverage
Recommendation
Buy
Target price
Updated
13.05.2026
Disclaimer
Petri Gostowski
Petri Gostowski

Co. Head of Research

Latest research

Latest analysis report

Released: 15.05.2026

Latest extensive report

Released: 18.06.2025

Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
13.8.
2026

Interim report Q2'26

28.10.
2026

Interim report Q3'26

Risk
Business risk
Valuation risk
Low
High
ShowingAll content types
Third party research

Relais Group: Further improvement potential for 2026 - Nordea

Relais' Q1 2026 adjusted EBITA of EUR 12.8m was 5% above Modular Finance consensus and sales were 4% ahead. Organic sales growth was strong at 7% y/y, partly supported by a cold winter. We believe the company has further margin improvement potential ...

Relais Group

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Third party research

Relais Group: Cold winter to support earnings - Nordea

Ahead of Relais' Q1 report, we make only minor estimate revisions and derive a higher DCF- and multiples-based fair value range of EUR 17.7-21.6 (17.3-21.1). We note the cold winter in the Nordics in Q1, which we expect to have supported the top line...

Relais Group
Forum discussions
Here are the figures for the beginning of the year in table format. Profitability met expectations well, so on adjusted figures, the result exceeded expectations driven by the top line. In particular, Technical Wholesale grew organically more strongly than expected, which is likely...
5/13/2026, 6:17 AM
by Petri Gostowski
30
MFN – 13 May 26 Relais Group Oyj osavuosikatsaus tammi-maaliskuu 2026 (tilintarkast... Relais Group Oyj Pörssitiedote 13.5.2026 klo 9.00 Tämä tiedote on tiivistelmä Relais Groupin osavuosikatsauksesta tammi-maaliskuu 2026. Tiedote on kokonaisuudessaan tämän tiedotteen liitteenÃ.....
5/13/2026, 6:00 AM
by Sijoittaja
25
Petri "The Last Emperor” Gostowski has published a new equity research report on Relais. Relais’s Q1 figures beat our forecasts by a clear margin, as organic growth was stronger than anticipated. However, we only made slight forecast changes, so we reiterate our EUR 18.0 target price...
5/13/2026, 7:24 PM
by Sijoittaja-alokas
19
Regarding technical wholesale, there is a mention of the weather: the cold winter had a positive impact on the sales of spare parts and equipment compared to the mild winter of 2025.
5/13/2026, 6:43 AM
by T_sijoittaja
19
Tj Gebauer’s interview regarding Q1: (00:00) Introduction (00:07) Q1 performance (00:42) Cold winter boosted sales (02:42) Startax (03:59) Change in reporting model (05:30) New acquisition (06:34) Upcoming Capital Markets Day on May 20th (07:26) Market situation
5/13/2026, 9:38 AM
by Ilkka
15
Well, that went perfectly as expected! To my eye, there isn’t a single word about the weather in the CEO’s comments. It’s so obvious that the severe frosts in January and February played right into the company’s hands, so I think it’s a bit silly that it’s not being highlighted. ...
5/13/2026, 6:12 AM
by Jageksi
11
Here are Petri’s pre-commentary notes, as Relais reports its Q1 results on Wednesday, May 13th – that is, next Wednesday. In connection with this report, we have accounted for the company’s reporting change and a small acquisition in our forecasts, but overall the forecast changes...
5/6/2026, 8:59 PM
by Sijoittaja-alokas
11
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