Relais: The storm does not capsize the boat
Relais’ Q3 operational development exceeded our expectations in terms of profitability. Repair shops operating with a strong EBITDA pushed profitability up from the comparison period. This strengthened our confidence in the relatively strong position of brand-independent commercial vehicle repair and maintenance services. Our forecast for the current year increased, but the forecast changes for the coming years were generally very small.
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 Figures02.11.2023
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 260.7 | 285.6 | 309.7 |
growth-% | 9.62 % | 9.55 % | 8.45 % |
EBIT (adj.) | 23.0 | 29.6 | 31.9 |
EBIT-% (adj.) | 8.81 % | 10.35 % | 10.29 % |
EPS (adj.) | 0.80 | 0.87 | 1.11 |
Dividend | 0.40 | 0.42 | 0.44 |
Dividend % | 3.92 % | 3.26 % | 3.41 % |
P/E (adj.) | 12.67 | 14.89 | 11.60 |
EV/EBITDA | 8.96 | 8.34 | 7.78 |