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Research

Tokmanni: Takeaway from CMD: growth continues

By Arttu HeikuraAnalyst
Tokmanni Group
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Tokmanni hosted a CMD on Tuesday, where it announced its updated strategy for 2024-25. Growth will continue, driven by Sweden and Denmark instead of Finland. We made forecast changes that focus especially on 2025 thanks to higher store opening plans than expected. Tokmanni's share price has risen clearly since our last update, so we feel the previously low valuation is catching up with the earnings growth potential.

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Tokmanni Group is a variety discount retailer in the Nordics. The group has stores in Finland, Sweden and Denmark under the brand names Tokmanni, Dollarstore, Big Dollar, Click Shoes and Miny. In addition, Tokmanni has online stores. Tokmanni's headquarter and logistics centres are located in Mäntsälä, Finland. Dollarstore is headquartered in Kista, Stockholm with a central warehouse in Örebro. The group own a procurement company located in Shanghai together with a Norwegian discount store chain Europris.

Read more on company page

Key Estimate Figures14.02.2024

202223e24e
Revenue1,168.01,393.01,672.7
growth-%2.3 %19.3 %20.1 %
EBIT (adj.)85.799.7118.6
EBIT-% (adj.)7.3 %7.2 %7.1 %
EPS (adj.)1.031.041.19
Dividend0.760.780.80
Dividend %6.7 %10.7 %11.0 %
P/E (adj.)11.07.06.1
EV/EBITDA6.76.44.3

Forum discussions

Tokmanni’s communication is shapeless and faceless. And once again, Kyösti Kakkonen’s face is in the news. In Ilta-Sanomat, at least there’s...
3 hours ago
by Vanerihands
6
Tokmanni itself now had the opportunity to mention Kakkonen and gain free visibility, sometimes even vice versa. Additionally, during the peak...
5 hours ago
by Wallet Buffet, Omahanonennuste
11
Tabloids haven’t yet named Kyösti as Finland’s Goldfinger, even though it would be more fitting for Endomines’ largest owner.
5 hours ago
by StockTycoon
0
The media mentions Tokmanni every time Kyösti Kakkonen speaks.
5 hours ago
by Vanerihands
8
Do people live in such a news blackout that they think Kakkonen is still Tokmanni’s owner or somehow involved in its operations? Good statement...
5 hours ago
by enska
5
Interesting tweet from Tokmanni’s X-account https://x.com/tokmanni/status/2001222557731594271 ![image|400x500](upload://s7WvaV6OimkYsQ1gS39BytnOl2q
11 hours ago
by Sijoittaja-alokas
14
Foreign investors have been selling recently
yesterday
by Arttu Heikura
23
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