![IT services sector's 2024 expectations fell slightly in Q1 - revenue expected to remain flat and profitability to rise slightly](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/a1c27db3-febe-46a3-abe4-aa20c188fd13.png)
Siili Solutions
7.92 EUR +1.28%Siili Solutions is a provider in the IT sector. The company develops and integrates software for information systems and offers services related to the development of technology platforms, information management, IT architecture, and various project management. The competence is found in data management, analysis, and artificial intelligence. Siili Solutions was founded in 2005 and is headquartered in Helsinki.
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![Joni Grönqvist Joni Grönqvist](https://www.inderes.se/cdn-cgi/image/format=auto,width=128,height=128,quality=90,fit=cover/https://core.inderes.fi/sites/default/files/2022-10/joni-gronqvist-1.png)
Financial calendar
Major OwnersSource: Millistream Market Data AB
Owner | Capital | Votes |
---|---|---|
Lamy Oy | 16.0 % | 16.0 % |
Ilmarinen Mutual Pension Insurance Company | 7.5 % | 7.5 % |
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Insider Transactions
Insider | Date | Total value |
---|---|---|
Taru Salo | 01.03.2024 | 9EUR |
Kenneth Lindfors | 01.03.2024 | 593EUR |
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Income statement
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Revenue | 83.3 | 99.3 | 118.3 | 122.7 | 117.5 | 121.7 | 129.1 | 134.3 |
growth-% | 3.4 % | 19.2 % | 19.2 % | 3.7 % | -4.3 % | 3.6 % | 6.1 % | 4.0 % |
EBITDA | 9.1 | 12.0 | 14.9 | 12.1 | 11.3 | 12.2 | 13.9 | 15.4 |
EBIT (adj.) | 6.7 | 9.3 | 11.6 | 8.7 | 7.6 | 8.3 | 9.9 | 10.1 |
EBIT | 5.3 | 7.6 | 10.1 | 6.9 | 6.3 | 7.1 | 8.7 | 10.1 |
Profit before taxes | 6.3 | 6.4 | 5.4 | 5.5 | 5.2 | 6.5 | 8.2 | 9.9 |
Net income | 4.4 | 5.1 | 3.7 | 5.0 | 4.0 | 5.1 | 6.5 | 7.8 |
EPS (adj.) | 0.78 | 0.93 | 1.01 | 0.66 | 0.66 | 0.77 | 0.94 | 0.96 |
growth-% | 47.2 % | 19.4 % | 8.8 % | -35.0 % | 0.1 % | 17.3 % | 22.4 % | 1.9 % |
Dividend | 0.28 | 0.18 | 0.20 | 0.26 | 0.30 | 0.35 | 0.40 | 0.45 |
Dividend ratio | 44.5 % | 24.6 % | 43.4 % | 42.3 % | 61.1 % | 56.0 % | 50.1 % | 46.9 % |
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Profitability and return on capital
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
EBITDA-% | 10.9 % | 12.1 % | 12.6 % | 9.9 % | 9.7 % | 10.0 % | 10.8 % | 11.4 % |
EBIT-% (adj.) | 8.1 % | 9.3 % | 9.8 % | 7.1 % | 6.5 % | 6.8 % | 7.6 % | 7.5 % |
EBIT-% | 6.4 % | 7.6 % | 8.6 % | 5.6 % | 5.3 % | 5.8 % | 6.7 % | 7.5 % |
ROE | 20.9 % | 22.1 % | 11.5 % | 12.1 % | 9.2 % | 11.2 % | 13.4 % | 14.8 % |
ROI | 26.5 % | 15.9 % | 15.0 % | 9.5 % | 9.4 % | 11.3 % | 13.8 % | 15.6 % |
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Valuation
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Share price (EUR) | 13.25 | 14.60 | 16.10 | 9.62 | 7.92 | 7.92 | 7.92 | 7.92 |
Shares | 7.0 | 7.0 | 8.1 | 8.1 | 8.1 | 8.1 | 8.1 | 8.1 |
Market cap | 92.8 | 102.5 | 130.9 | 78.0 | 64.2 | 64.2 | 64.2 | 64.2 |
Enterprise value | 86.5 | 115.1 | 132.7 | 81.7 | 65.9 | 62.2 | 57.7 | 52.2 |
EV/S | 1.0 | 1.2 | 1.1 | 0.7 | 0.6 | 0.5 | 0.4 | 0.4 |
EV/EBITDA | 9.5 | 9.6 | 8.9 | 6.7 | 5.8 | 5.1 | 4.1 | 3.4 |
EV/EBIT (adj.) | 12.8 | 12.4 | 11.4 | 9.3 | 8.7 | 7.5 | 5.8 | 5.2 |
EV/EBIT | 16.3 | 15.2 | 13.1 | 11.8 | 10.5 | 8.8 | 6.6 | 5.2 |
P/E (adj.) | 17.1 | 15.7 | 16.0 | 14.7 | 12.1 | 10.3 | 8.4 | 8.2 |
P/E | 21.1 | 20.0 | 32.9 | 15.7 | 16.1 | 12.7 | 9.9 | 8.2 |
P/B | 4.3 | 4.1 | 3.2 | 1.9 | 1.5 | 1.4 | 1.3 | 1.2 |
P/S | 1.1 | 1.0 | 1.1 | 0.6 | 0.5 | 0.5 | 0.5 | 0.5 |
Dividend yield | 2.1 % | 1.2 % | 1.2 % | 2.7 % | 3.8 % | 4.4 % | 5.1 % | 5.7 % |
Equity ratio | 35.2 % | 30.5 % | 38.0 % | 42.0 % | 48.9 % | 51.5 % | 54.3 % | 57.6 % |
Gearing ratio | -29.1 % | 50.2 % | 4.5 % | 8.8 % | 3.8 % | -4.3 % | -13.1 % | -22.0 % |
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Quarter data
Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 | Q1/24e | Q2/24e | Q3/24e | Q4/24e | |
---|---|---|---|---|---|---|---|---|---|
Revenue | 65.3 | 57.4 | 122.7 | 59.5 | 57.9 | ||||
EBITDA | 6.8 | 5.3 | 12.1 | 5.2 | 6.1 | ||||
EBIT | 4.1 | 2.8 | 6.9 | 2.7 | 3.6 | ||||
Profit before taxes | 4.6 | 1.0 | 5.5 | 2.1 | 3.0 | ||||
Net income | 3.5 | 1.4 | 5.0 | 1.7 | 2.3 |
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![IT services sector's 2024 expectations fell slightly in Q1 - revenue expected to remain flat and profitability to rise slightly](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/a1c27db3-febe-46a3-abe4-aa20c188fd13.png)
![IT service sector Q1 summary: Revenue and profitability down from a strong comparison period, but some defensive wins in profitability as well](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/2960b8d0-2d5c-48ed-b5e4-0d1f888752df.png)
IT service sector Q1 summary: Revenue and profitability down from a strong comparison period, but some defensive wins in profitability as well
Correction to stock exchange release: Siili Solutions Plc: Business review, 1 January – 31 March 2024
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Siili Solutions Plc: Business review, 1 January–31 March 2024
![IT service sector: Our expectations for 2024 generally at the lower end of companies' guidance](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/aefb64e2-4341-4ebe-a0d5-db91c5d85d27.png)
IT service sector: Our expectations for 2024 generally at the lower end of companies' guidance
Share subscription price and market value of the Siili Solutions Plc stock options 2024A
Siili Solutions Plc: Change in management team
Siili Solutions Plc: Resolutions of the Annual General Meeting and Board of Directors
![Q4 IT service sector summary: Growth and profitability in line with our expectations, 2023 can be seen as a defensive win](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=contain/https://content.inderes.se/assets/49f03a03-baae-4193-851d-48056aafa15c.png)