Sitowise: Year started with good performance
As a whole, Sitowise's Q1 report was better than we expected, but the outlook kept our estimates almost unchanged and fewer working days in the upcoming quarters makes an earnings improvement difficult. The guidance remained unchanged and appears good for growing businesses, although inflation and a slowdown in construction increase uncertainty in certain areas. This year, earnings growth will be moderate, but it creates a basis for the development in coming years. We still find the valuation attractive given Sitowise's potential and current performance level.
Sitowise Group
Sitowise Group operates in the construction and infrastructure industry. The company specializes in the development of major construction projects. Examples of projects that the company carries out, on its own and in collaboration with other companies in the industry, include road and building construction, as well as pipe and underground constructions. The largest operations are in the Nordic market, where customers are found among corporate customers and public actors.
Read more on company pageKey Estimate Figures10.05.2023
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 204.4 | 217.6 | 226.7 |
growth-% | 13.99 % | 6.44 % | 4.20 % |
EBIT (adj.) | 17.5 | 17.7 | 23.9 |
EBIT-% (adj.) | 8.54 % | 8.14 % | 10.53 % |
EPS (adj.) | 0.34 | 0.32 | 0.45 |
Dividend | 0.10 | 0.12 | 0.14 |
Dividend % | 1.95 % | 4.26 % | 4.96 % |
P/E (adj.) | 15.02 | 8.94 | 6.30 |
EV/EBITDA | 11.28 | 6.20 | 4.77 |