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Relais Group: Profitability improves faster than we expected

RELAISResearch11.11.2022 klo 09.27
Petri GostowskiCo. Head of Research
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The Q3 figures reported by Relais yesterday were better than we expected, as the company's profitability improved faster than we anticipated after the softness earlier in the year and exceeded our estimate. Considering this we made positive changes to our estimates for both 2022 and 2023. We find the valuation of the share attractive.

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Relais Group is an importer and wholesaler for the automotive industry. The group focuses mainly on the development of automotive electronic equipment for trucks. Examples of products that the company supplies include lighting products, applications for warning lights, camera systems, and other spare parts for heavy vehicles. The largest operations are found in the Nordic and Baltic markets, with customers in the aftermarket industry.

Read more on company page

Key Estimate Figures10.11.2022

202122e23e
Revenue237.8260.9265.2
growth-%84.5 %9.7 %1.6 %
EBIT (adj.)25.723.525.8
EBIT-% (adj.)10.8 %9.0 %9.7 %
EPS (adj.)0.950.740.93
Dividend0.360.300.32
Dividend %1.4 %2.1 %2.2 %
P/E (adj.)27.719.615.5
EV/EBITDA17.010.99.8

Forum discussions

You can find them in the insider section Relais Sisäpiirin omistukset - Relais Sisäpiirin omistukset Osto- ja myyntitoimeksiannot Est. reading...
2 hours ago
by Gadus
4
Foreigners are on the lists through those nominee accounts.
2 hours ago
by Jageksi
0
Under what name is it on the top 100 list, since I couldn’t spot it myself?
2 hours ago
by Hostin Duffman
0
News Powered by Cision Relais Group Oyj - Johdon liiketoimet - Johansson Gebauer Relais Group Oyj, Johtohenkilöiden liiketoimet, 19.8.2026 klo...
8/19/2026, 1:36 PM
by Jageksi
18
Juho Toratti has been writing about Relais Although Relais Group’s second-quarter earnings fell short of expectations, the performance from ...
8/15/2026, 1:05 PM
by Sijoittaja-alokas
12
Hi @Jageksi , Thanks for the questions! Challenging us is allowed and actually encouraged; this is completely normal in investor relations work...
8/14/2026, 10:25 AM
by Sebastian Seppanen
20
Thank you for the quick and comprehensive answer! I actually had to check the Q2 2025 report to see if there was any mention of the positive...
8/14/2026, 5:47 AM
by Jageksi
11