Purmo Group: Warming our homes
Purmo manufactures and sells radiators and other sustainable indoor climate solutions for its customers globally. With its strategy, the company aims for the leading position in sustainable indoor climate solutions. In recent history, growth and profitability have been very strong, but we are now seeing the rate stabilizing over the next few years. However, we feel the valuation is still moderate relative to the current earnings level, peer group and potential. Based on the upside in valuation and the dividend yield, we feel the share's return expectation is attractive.
Purmo Group
Purmo Group develops solutions for indoor climate. The company provides heating and cooling solutions for residential buildings and premises, including radiators, towel warmers, underfloor heating, convectors, valves, and controls. The business is divided into a number of business areas and the solutions are used in industry and the real estate industry. Customers are found on a global level with the largest concentration in Europe. The products are aimed at corporate and private customers.
Read more on company pageKey Estimate Figures04.01.2022
2020 | 21e | 22e | |
---|---|---|---|
Revenue | 671.2 | 827.0 | 851.0 |
growth-% | -3.68 % | 23.21 % | 2.90 % |
EBIT (adj.) | 55.2 | 66.6 | 64.7 |
EBIT-% (adj.) | 8.23 % | 8.06 % | 7.60 % |
EPS (adj.) | 0.94 | 1.05 | 1.08 |
Dividend | 0.00 | 0.30 | 0.40 |
Dividend % | 3.06 % | 4.08 % | |
P/E (adj.) | - | 9.36 | 9.05 |
EV/EBITDA | - | 6.99 | 5.99 |