Copyright © Inderes 2011 - present. All rights reserved.
  • Latest
  • Markets
    • Morning Review
    • Stock Comparison
    • Financial Calendar
    • Dividends Calendar
    • Research
    • Articles
    • Insider Transactions
  • inderesTV
  • Portfolio
  • Forum
  • Premium
  • Femme
  • Nora AI
  • Learn
    • Investing School
    • Q&A
    • Analysis School
  • About Us
    • Our Coverage
    • Team
Third party research

Nolato: Strong finish to the year - ABG

Nolato

This is a third party research report and does not necessarily reflect our views or values

Download report (PDF)
Strong Q4 driven by Engineered Solutions
EBITA up 2% organically, but cancelled out by weaker FX
Share trading at 16-15x '25e-'26e EV/EBITA


Strong Q4 numbers with EMC driving the beat

Nolato reported a strong set of Q4 numbers, with EBITA 3% above Modular Finance IR consensus and 2% above our expectations, with Engineered Solutions driving the majority of the beat. More specifically, the high-margin electromagnetic compatibility (EMC) products sub-segment, which has been struggling for several quarters, saw 20% organic growth, making for a substantially positive mix effect within Engineered. The company also managed a strong working capital release, leading to FCF/net profit conversion of 189%, and leverage is now the lowest it has been since 2021.
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
  • 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.