Sitowise: Good performance in headwinds
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The Q2 result was slightly better than expected, although the outlook for the housing market remained weak. By contrast, other businesses have shown strong development and activity, and the order book also continued to grow. Cash flow also strengthened, again providing good momentum for further acquisitions to support organic growth. In our view, the valuation is attractive given Sitowise's potential and current performance level.
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Sitowise Group
Sitowise Group operates in the construction and infrastructure industry. The company specializes in the development of major construction projects. Examples of projects that the company carries out, on its own and in collaboration with other companies in the industry, include road and building construction, as well as pipe and underground constructions. The largest operations are in the Nordic market, where customers are found among corporate customers and public actors.
Read more on company pageKey Estimate Figures16.08.2023
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 204.4 | 220.1 | 226.5 |
growth-% | 13.99 % | 7.68 % | 2.90 % |
EBIT (adj.) | 17.5 | 17.6 | 22.8 |
EBIT-% (adj.) | 8.54 % | 8.00 % | 10.05 % |
EPS (adj.) | 0.34 | 0.31 | 0.42 |
Dividend | 0.10 | 0.12 | 0.14 |
Dividend % | 1.95 % | 4.43 % | 5.17 % |
P/E (adj.) | 15.02 | 8.81 | 6.41 |
EV/EBITDA | 11.28 | 6.06 | 4.86 |
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