Sievi Capital: Journey to materialize hidden value started
Av Olli Vilppo
Yesterday, Sievi announced a new strategy that offers a plausible route to bring out the hidden value of Sievi’s parts. We believe the change in reporting that takes place in H1'23 will move the share toward the value our sum of the parts indicates (now EUR 1.38). After this, the sum of the parts will be gradually dissolved by exiting from other holdings apart from KH-Koneet. During its investment period (since 2017), KH-Koneet has developed convincingly and we believe that it would be valued with significantly higher valuation multiples as a listed company than our current estimate. A considerable international growth path can also be drawn for it over the next few years which upholds strong longer term growth drivers.
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KH Group
1,17
1,40
Köp
Köp
KH Group är en finansiell koncern. Bolaget verkar som ett konglomerat med diversifierade affärsverksamheter. Inom koncernen återfinns bolag inom varierande sektorer med stort produkt- och tjänsteutbud. Verksamheten drivs på global nivå med störst närvaro inom Europa. Kunderna består av både privata aktörer samt företagskunder, där försäljning sker via egna varumärken. Bolaget grundades 2012 och har sitt huvudkontor i Helsingfors.
Read more on company pageKey Estimate Figures15.12.2022
| 2021 | 22e | 23e | |
|---|---|---|---|
| Omsättning | 11,5 | 2,0 | 2,0 |
| tillväxt-% | 259,38 % | −82,61 % | |
| EBIT (adj.) | 20,2 | −8,5 | 11,3 |
| EBIT-% | 175,65 % | −425,00 % | 565,50 % |
| EPS (adj.) | 0,32 | −0,12 | 0,16 |
| Utdelning | 0,00 | 0,00 | 0,00 |
| Direktavkastning | |||
| P/E (just.) | 6,05 | - | 3,43 |
| EV/EBITDA | 5,28 | - | 2,24 |
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