The outlook is brightening in Sweden
NYAB's performance in the seasonally slower first quarter was well above our expectations. The company also commented that the market environment in its larger market area of Sweden has continued to strengthen. Reflecting the report and the stronger market outlook, we raised our growth and earnings forecasts for the coming years. With a good performance in the first quarter of the year and a brighter outlook for earnings growth, we also see the stock's risk level declining and the valuation offering a slight upside for next year.
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NYAB
NYAB provides services of engineering, construction and maintenance with a focus on sustainable infrastructure and renewable energy. Offering includes, among others, roads, railways, bridges, airports, wind and solar power, as well as power networks. In addition, NYAB provides various types of facilities for industrial clients. NYAB operates in Sweden and Finland within both private and public sector.
Read more on company pageKey Estimate Figures09.05.
2023 | 24e | 25e | |
---|---|---|---|
Revenue | 280.4 | 345.2 | 390.0 |
growth-% | 10.70 % | 23.09 % | 13.00 % |
EBIT (adj.) | 17.8 | 24.6 | 28.4 |
EBIT-% (adj.) | 6.35 % | 7.12 % | 7.28 % |
EPS (adj.) | 0.02 | 0.03 | 0.03 |
Dividend | 0.01 | 0.01 | 0.02 |
Dividend % | 2.50 % | 2.19 % | 2.99 % |
P/E (adj.) | 30.02 | 18.79 | 14.98 |
EV/EBITDA | 17.58 | 11.85 | 10.02 |