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Relais' H2 was in line with our expectations on sales and profitability. The company now expects to reach its 2024 turnover target of EUR ~240m substantially earlier than previously expected and aims to redefine the target at a later stage this year. We forecast 2023 sales of EUR 239m. The M&A pipeline remains healthy and we think Relais is in a good position for further market consolidation. After the Strands and Raskone acquisitions, a large part of Relais' organic growth should come from commercial vehicles and lighting solutions; the latter should offer Relais good global growth potential. We derive a fair value range of EUR 15.8-19.4 per share.

Lähde: Finwire News

Relais Group on vuonna 2010 perustettu johtava konsolidoija ja yritysostoalusta ajoneuvojen jälkimarkkinoilla Pohjoismaissa ja Baltiassa. Yhtiö on teollinen toimija, joka keskittyy ajoneuvojen elinkaaren tehostamiseen ja siihen liittyviin palveluihin. Samalla Relais on myös kasvualusta omistamilleen yhtiöille.