Privacy preferences
Inderes uses cookies to provide a better user experience and a personalised service. By consenting to the use of cookies, we can develop an even better service and will be able to provide content that is interesting to you.
  • Forum
  • Premium
  • Stock Markets
    • MarketsLive prices, indices, and market performance
    • Morning ReviewDaily market recap and key overnight highlights
    • Stock CalendarUpcoming earnings, listings, and corporate events
    • Dividends CalendarFuture and past dividends
  • Companies
    • CompaniesBrowse and filter the full list of listed companies
    • DiscoveryInspiration for your next investment
    • IPOsNew listings and upcoming public offerings
    • AGM InvitationsAnnual general meeting dates and shareholder info
  • Stock Research
    • ResearchExpert stock analysis and recommendations
    • ArticlesNews, insights, and market commentary
    • PortfolioInderes model portfolio
    • FemmeBreaking barriers and building confidence in investing
  • Learn about investing
    • Analysis SchoolLearn how to read and understand stock analysis
    • Investing SchoolGuides and lessons to grow your investing knowledge
    • Portfolio buildersInvesting knowledge for every level, from first steps to advanced portfolio strategies.
    • inderesTVVideo hub for stock research, analysis, and expert commentary
    • TranscriptsFull text records of earnings calls and investor meetings
    • Stock ComparisonCompare financials and performance across multiple stocks
    • Earnings SeasonCompare EPS estimates to reported results
    • Insider TransactionsTrack buying and selling activity by company insiders
    • Short SellingSee which listed companies have disclosed short interest
    • Virtual Analyst ChatAsk questions and get instant AI-powered investment insights
    • Compound Interest CalculatorSee how your savings grow with the power of compound interest.
Find us on social media
  • Inderes Forum
  • Youtube
  • Facebook
  • Instagram
  • X (Twitter)
  • Tiktok
  • Linkedin
Get in touch
  • info@inderes.fi
  • +358 10 219 4690
  • Porkkalankatu 5
    00180 Helsinki
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Q&A
  • Terms of service
  • Privacy policy
  • Disclaimer

Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.

Relais Group: Vehicle aftermarket consolidator

RELAISExtensive research30.05.2023 klo 12.26
Inderes
Discuss
Download report (PDF)

Relais' value creation model is based on owning and developing businesses, and consolidating the vehicle aftermarket. The company's track record of this is good for the past few years and we expect capital allocation to be a key value driver for the company also in the future. In our view, the current share valuation is moderate from several different angles. Thus, we consider the share’s risk/return ratio good.

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 Figures29.05.2023

202223e24e
Revenue260.7277.5289.6
growth-%9.6 %6.4 %4.4 %
EBIT (adj.)23.029.831.9
EBIT-% (adj.)8.8 %10.7 %11.0 %
EPS (adj.)0.801.001.12
Dividend0.400.420.44
Dividend %3.9 %3.5 %3.6 %
P/E (adj.)12.712.210.9
EV/EBITDA9.08.07.4

Forum discussions

Here are Petri’s preview comments as Relais reports its Q3 earnings on Wednesday We forecast that the company’s revenue continued to grow, reflecting...
11 hours ago
by Sijoittaja-alokas
5
Updates from Nordea and Carnegie as well. They are also expecting slightly softer momentum, with interest rates posing a headwind too. But all...
10/22/2026, 11:22 AM
by OttoJ
9
Chief Analyst Petri, hoping for evening and night shift differentials, finished an extensive report on Relais late last night Extensive reports...
10/21/2026, 10:39 PM
by Sijoittaja-alokas
15
Here are Jani Järvinen’s highlights on Relais https://x.com/jjamber0/status/2106313548687143081 In the tweet above, he quoted this “old” video...
10/3/2026, 9:57 AM
by Sijoittaja-alokas
24
The situation with Relais is a double-edged sword anyway. Looking purely at the P/S ratio, the company is priced like some basic cyclical like...
10/1/2026, 7:32 AM
by poutapilviä
26
The shareholder lists showed that foreign investors are dumping shares onto the bid. SEB -60,531 shares/month. Foreign money is surely spooked...
10/1/2026, 7:21 AM
by poutapilviä
22
Relais CEO Christian Gebauer was presenting their company
9/8/2026, 4:25 PM
by Sijoittaja-alokas
14