Enersense: Profitability turnaround successful
Last Friday, Enersense released its Q2 report, which was well in line with our expectations both in regard to the figures and reiterating guidance. The increased profitability that was in line with our estimates strengthened confidence in a sustainable profitability turnaround and, in our view, in regard to valuation, sights can be set to 2022 already. In our view, the valuation multiples for next year are low, which together with the decreased risk profile offers an attractive risk/return ratio.
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Enersense International
Enersense International operates in the industrial sector. The company's specialist expertise is in project management for major industrial projects, work that mainly includes construction and civil engineering, planning, logistics, and management. In addition to the main operations, staffing and personnel management are offered. The company operates worldwide, with the Nordic and Baltic countries as home markets.
Read more on company pageKey Estimate Figures15.08.2021
2020 | 21e | 22e | |
---|---|---|---|
Revenue | 147.5 | 235.4 | 241.0 |
growth-% | 153.80 % | 59.63 % | 2.40 % |
EBIT (adj.) | 7.5 | 9.0 | 12.2 |
EBIT-% (adj.) | 5.07 % | 3.81 % | 5.06 % |
EPS (adj.) | 0.68 | 0.48 | 0.68 |
Dividend | 0.00 | 0.15 | 0.25 |
Dividend % | 5.38 % | 8.96 % | |
P/E (adj.) | 12.16 | 5.79 | 4.10 |
EV/EBITDA | 7.26 | 0.70 | 0.22 |