Numbers
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Nordea
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EURm
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2020
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2021
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2022
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2023
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2024E
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2025E
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2026E
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Total revenues
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Ebitda (adj.)
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4.98
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5.50
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8.16
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7.95
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7.38
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8.54
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9.29
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Ebitda - margin
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15.2%
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12.3%
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13.0%
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12.1%
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9.4%
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10.3%
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11.0%
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EBIT (adj.)
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EBIT (adj.) margin
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10.8%
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7.5%
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8.1%
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7.3%
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4.7%
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5.6%
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6.3%
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PTP (adj.)
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3.4
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2.1
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4.6
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3.9
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2.1
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3.2
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4.1
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Net profit from cont oper (adj)
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2.68
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1.67
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3.58
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3.21
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1.56
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2.59
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3.25
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Shareholders´ Equity
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10.5
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31.3
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37.5
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39.9
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41.2
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43.2
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45.7
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Net interest bearing debt
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10.4
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7.2
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4.5
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18.7
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24.7
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23.1
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20.7
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Net gearing
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81.4%
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22.4%
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11.9%
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46.2%
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59.0%
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52.7%
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44.6%
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Net debt/EBITDA
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2.1
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1.3
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0.6
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2.3
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3.3
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2.7
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2.2
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Free cash flow to equity
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-0.1
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-9.8
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0.6
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1.5
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-5.8
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2.2
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3.1
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Diluted number of shares in issue, year-end (m)
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4.3
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7.2
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9.9
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9.9
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10.2
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10.2
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10.2
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Nordea Markets estimates published on Dec 2, 2024 Source: Company data, Nordea estimates |
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Per share data and multiples
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Nordea
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EUR and %
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2020
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2021
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2022
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2023
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2024E
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2025E
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2026E
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EPS (adj.)
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EPS (adj.) growth
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177.7%
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-50.2%
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93.5%
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-17.0%
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-51.1%
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63.5%
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25.5%
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DPS
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0.00
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0.10
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0.04
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0.06
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0.06
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0.07
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0.08
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BVPS
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2.4
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4.3
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3.8
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4.0
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4.1
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4.2
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4.5
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P/E (adj.)
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n.a.
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41.8
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11.0
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15.1
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15.9
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9.7
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7.8
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EV/Sales
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n.a.
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1.52
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0.75
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1.02
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0.64
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0.59
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0.55
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EV/EBITDA (adj.)
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n.a.
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12.36
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5.75
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8.43
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6.83
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5.72
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5.00
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EV/EBIT (adj.)
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n.a.
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20.14
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9.21
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13.83
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13.79
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10.54
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8.75
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P/BV
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n.a.
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1.92
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1.11
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1.20
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0.61
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0.58
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0.55
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Dividend yield
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n.a.
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1.2%
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0.9%
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1.3%
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2.4%
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2.8%
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3.2%
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FCF Yield bef A&D, lease adj
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n.a.
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1.9%
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5.7%
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10.6%
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7.3%
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8.8%
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12.3%
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RoE
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23.7%
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6.9%
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9.9%
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8.2%
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3.9%
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6.1%
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7.3%
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ROIC
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14.0%
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8.0%
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8.6%
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7.0%
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4.7%
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5.6%
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6.3%
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Nordea Markets estimates published on Dec 2, 2024 Source: Company data, Nordea estimates |
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