Tokmanni: Weakening of margins will ease toward the end of the year
Tokmanni's Q4 result was close to our expectations, but the 2023 guidance and the underlying comments on the development of the different cost items were more positive than we expected. Inflation still holds consumers' purchasing power hostage, but increased price awareness in customer behavior seems to have strengthened, which we believe supports Tokmanni's development. The company's own strategic work also remained good.
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Tokmanni Group
Tokmanni Group is a Finnish retail chain. The Group's product range includes household products, food items, clothing, tools, and electronics and interior design products. The products include a number of external brands and part of the range is sold under the own brand. The group is mainly established around the Finnish domestic market. The company is headquartered in Mäntsälä.
Read more on company pageKey Estimate Figures13.02.2023
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 1,168.0 | 1,215.7 | 1,289.1 |
growth-% | 2.30 % | 4.08 % | 6.04 % |
EBIT (adj.) | 85.7 | 90.0 | 101.7 |
EBIT-% (adj.) | 7.34 % | 7.40 % | 7.89 % |
EPS (adj.) | 1.03 | 1.07 | 1.23 |
Dividend | 0.76 | 0.78 | 0.80 |
Dividend % | 6.73 % | 5.96 % | 6.11 % |
P/E (adj.) | 10.99 | 12.24 | 10.67 |
EV/EBITDA | 6.66 | 6.88 | 5.76 |