Relais: The stock price train just left
By Erkki Vesola
Barring net sales, Relais’ H1 figures were slightly lower than our estimates. Relais’ H1 report lowered the risk profile, and considering this, we are ready to accept higher-than-before valuation multiples for the company's stock.
Relais Group
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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 Figures12.08.2021
2020 | 21e | 22e | |
---|---|---|---|
Revenue | 128.9 | 229.9 | 244.9 |
growth-% | 30.30 % | 78.33 % | 6.53 % |
EBIT (adj.) | 18.7 | 28.8 | 33.0 |
EBIT-% (adj.) | 14.51 % | 12.52 % | 13.48 % |
EPS (adj.) | 0.87 | 1.15 | 1.34 |
Dividend | 0.30 | 0.40 | 0.45 |
Dividend % | 2.04 % | 3.31 % | 3.72 % |
P/E (adj.) | 16.98 | 10.55 | 9.05 |
EV/EBITDA | 14.41 | 9.47 | 8.23 |
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