Numbers
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Nordea
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SEKm
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2014
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2015
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2016
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2017
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2018E
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2019E
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2020E
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Total revenues
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n.a.
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Ebitda (adj.)
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n.a.
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-17.02
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-47.56
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-60.01
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-86.71
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-94.29
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479.49
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Ebitda - margin
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n.a.
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n.a.
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n.a.
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n.a.
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n.a.
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n.a.
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87.6%
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EBIT (adj.)
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n.a.
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EBIT (adj.) margin
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n.a.
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n.a.
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n.a.
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n.a.
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n.a.
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n.a.
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87.6%
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PTP (adj.)
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n.a.
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-17.2
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-47.5
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-60.3
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-84.0
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-91.9
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480.5
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Net profit from cont oper (adj)
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n.a.
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-17.19
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-47.49
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-60.25
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-84.01
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-91.86
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480.54
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Shareholders´ Equity
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n.a.
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23.8
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30.0
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246.1
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162.1
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70.3
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550.8
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Net interest bearing debt
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n.a.
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-24.5
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-34.8
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-269.8
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-162.1
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-70.3
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-523.4
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Net gearing
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n.a.
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-103.1%
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-116.0%
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-109.6%
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-100.0%
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-100.0%
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-95.0%
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Net debt/EBITDA
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n.a.
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1.4
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0.7
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4.5
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1.9
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0.7
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-1.1
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Free cash flow to equity
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n.a.
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-30.3
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-42.3
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-41.1
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-107.7
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-91.9
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453.2
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Diluted number of shares in issue, year-end (m)
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n.a.
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13.5
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20.9
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46.9
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66.2
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66.2
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66.2
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Nordea Markets estimates published on Nov 20, 2018 Source: Company data, Nordea estimates |
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Per share data and multiples
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Nordea
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SEK and %
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2014
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2015
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2016
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2017
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2018E
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2019E
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2020E
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EPS (adj.)
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n.a.
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EPS (adj.) growth
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n.a.
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-15.5%
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-78.4%
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43.5%
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1.1%
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-9.3%
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623.1%
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DPS
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n.a.
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0.00
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0.00
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0.00
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0.00
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0.00
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0.00
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BVPS
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n.a.
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1.8
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1.4
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5.2
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2.4
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1.1
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8.3
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P/E (adj.)
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n.a.
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n.a.
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n.a.
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n.a.
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n.a.
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n.a.
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2.2
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EV/Sales
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n.a.
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n.a.
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n.a.
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n.a.
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n.a.
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n.a.
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0.95
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EV/EBITDA (adj.)
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n.a.
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n.a.
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n.a.
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n.a.
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n.a.
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n.a.
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1.08
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EV/EBIT (adj.)
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n.a.
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n.a.
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n.a.
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n.a.
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n.a.
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n.a.
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1.08
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P/BV
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n.a.
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n.a.
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n.a.
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1.22
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6.43
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14.84
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1.89
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Dividend yield
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n.a.
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n.a.
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n.a.
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0.0%
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0.0%
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0.0%
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0.0%
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FCF yield
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n.a.
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n.a.
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n.a.
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-13.7%
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-10.3%
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-8.8%
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43.5%
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RoE
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n.a.
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n.a.
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n.a.
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-43.6%
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-41.2%
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-79.1%
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n.a.
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ROIC
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n.a.
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n.a.
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n.a.
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n.a.
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n.a.
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n.a.
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n.a.
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Nordea Markets estimates published on Nov 20, 2018 Source: Company data, Nordea estimates |
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