Relais Group: Accounting for the IFRS transition in our estimates
Relais publishes its Q3 result on Thursday at about 9:00 am. In Q3, we expect the company's net sales to remain on an upward trajectory, driven by inorganic growth. By contrast, we expect profitability to have declined as a result of, e.g., a change in the net sales structure. We have updated our estimates to take into account the company's transition to IFRS reporting. In addition to these accounting changes, we have revised our short-term financing cost estimates upwards to reflect rising interest rates.
Relais Group
Relais Group is an importer and wholesaler for the automotive industry. The Group focuses mainly on the development of vehicle electronic equipment for trucks. Examples of products that the company delivers include lighting products, applications for warning lights, lighting and camera systems, as well as other spare parts for heavy vehicles. The largest operations are in the Nordic and Baltic markets, with customers in the aftermarket industry.
Read more on company pageKey Estimate Figures08.11.2022
2021 | 22e | 23e | |
---|---|---|---|
Revenue | 237.8 | 260.9 | 265.2 |
growth-% | 84.47 % | 9.70 % | 1.65 % |
EBIT (adj.) | 25.7 | 21.9 | 24.2 |
EBIT-% (adj.) | 10.82 % | 8.39 % | 9.11 % |
EPS (adj.) | 0.95 | 0.71 | 0.86 |
Dividend | 0.36 | 0.30 | 0.32 |
Dividend % | 1.37 % | 2.31 % | 2.46 % |
P/E (adj.) | 27.66 | 18.25 | 15.10 |
EV/EBITDA | 16.99 | 10.69 | 9.63 |