Fifax
0.24
EUR
-8.75 %
FIFAX
First North Finland
Food & Beverage
Consumer Goods & Services
875 following
-8.75%
-14.29%
-20%
-17.81%
+21.21%
+27.32%
+24.35%
-79.81%
-
-83.49%
fifax.ax/en
Fifax is active in fish farming. The company operates, via its own production facilities, breeding and resale of fish. Most of the range consists of rainbow salmon. The company operates worldwide, with the largest presence in the Nordic region. The customers consist of wholesalers, retailers, and small and medium-sized companies in the restaurant industry. Fifax was founded in 2012 and is headquartered in Finland.
P/E (adj.) (24e)
-2.7
EV/EBIT (adj.) (24e)
-4.22
P/B (24e)
1.63
Dividend yield-% (24e)
-
Target price
0.17 EUR
Recommendation
Sell
Updated
19.11.2024
First North Finland
FIFAX
Daily low / high price
0.24 / 0.264
EUR
Market cap
18.04M EUR
Turnover
2.29K EUR
Volume
9.2K
Business risk
Valuation risk
Current
Previous
Income statement
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.2 | 1.0 | 1.2 | 0.0 | 1.3 | 15.2 | 19.2 | 23.3 |
| growth-% | 77.2 % | -19.2 % | 15.0 % | -99.7 % | 32,806.2 % | 1,053.9 % | 26.7 % | 21.1 % |
| EBITDA | -6.1 | -8.3 | -5.9 | -5.1 | -4.2 | 3.0 | 3.8 | 4.7 |
| EBIT (adj.) | -7.3 | -9.8 | -7.4 | -6.0 | -5.9 | 1.2 | 1.9 | 2.5 |
| EBIT | -7.3 | -9.8 | -7.4 | -6.7 | -5.9 | 1.2 | 1.9 | 2.5 |
| Profit before taxes | -8.4 | -13.7 | -8.0 | -7.2 | -6.7 | 0.6 | 1.4 | 1.8 |
| Net income | -8.4 | -13.7 | -8.0 | -7.2 | -6.7 | 0.6 | 1.4 | 1.8 |
| EPS (adj.) | -0.53 | -0.31 | -0.09 | -0.09 | 0.01 | 0.02 | 0.02 | |
| growth-% | 129.5 % | 26.6 % | ||||||
| Dividend | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividend ratio |
Profitability and return on capital
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| EBITDA-% | -494.4 % | -823.7 % | -513.9 % | -126,825.0 % | -321.7 % | 19.8 % | 20.0 % | 20.0 % |
| EBIT-% (adj.) | -587.0 % | -978.3 % | -636.4 % | -149,225.0 % | -449.3 % | 7.9 % | 9.9 % | 10.9 % |
| EBIT-% | -587.0 % | -978.3 % | -636.4 % | -166,725.0 % | -449.3 % | 7.9 % | 9.9 % | 10.9 % |
| ROE | -98.1 % | -97.2 % | -41.3 % | -43.8 % | -46.5 % | 5.4 % | 11.3 % | 12.7 % |
| ROI | -32.2 % | -36.4 % | -30.4 % | -32.8 % | -29.8 % | 6.3 % | 8.3 % | 8.9 % |
Valuation
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Share price (EUR) | 1.28 | 0.37 | 0.20 | 0.24 | 0.24 | 0.24 | 0.24 | |
| Shares | 25.9 | 25.9 | 75.0 | 75.0 | 75.0 | 75.0 | 75.0 | |
| Market cap | 33.0 | 9.6 | 15.1 | 18.0 | 18.0 | 18.0 | 18.0 | |
| Enterprise value | 29.5 | 12.4 | 14.8 | 25.0 | 25.3 | 29.1 | 32.9 | |
| EV/S | - | 29.3 | 10.8 | 3,712.5 | 19.0 | 1.7 | 1.5 | 1.4 |
| EV/EBITDA | - | - | - | - | - | 8.4 | 7.6 | 7.1 |
| EV/EBIT (adj.) | - | - | - | - | - | 21.0 | 15.3 | 13.0 |
| EV/EBIT | - | - | - | - | - | 21.0 | 15.3 | 13.0 |
| P/E (adj.) | - | - | - | - | - | 29.7 | 13.0 | 10.2 |
| P/E | - | - | - | - | - | 29.7 | 13.0 | 10.2 |
| P/B | - | 1.4 | 0.6 | 0.9 | 1.6 | 1.5 | 1.4 | 1.2 |
| P/S | - | 32.9 | 8.3 | 3,769.7 | 13.7 | 1.2 | 0.9 | 0.8 |
| Dividend yield | ||||||||
| Equity ratio | 17.8 % | 74.7 % | 74.1 % | 79.5 % | 56.3 % | 47.1 % | 42.0 % | 39.1 % |
| Gearing ratio | 303.3 % | -15.3 % | 18.5 % | -1.3 % | 63.2 % | 62.8 % | 85.0 % | 100.6 % |
Quarter data
| Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24e | Q4/24e | 2024e | Q1/25e | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0 | 1.3 | 1.3 | ||||||
| EBITDA | -2.5 | -5.1 | -2.1 | -2.1 | -4.2 | ||||
| EBIT | -3.3 | -6.7 | -3.0 | -3.0 | -5.9 | ||||
| Profit before taxes | -3.6 | -7.2 | -3.3 | -3.3 | -6.7 | ||||
| Net income | -3.6 | -7.2 | -3.3 | -3.3 | -6.7 |
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Inside Information: Fifax has entered into a EUR 2.5 million loan agreement with the Nordic Environment Finance Corporation NEFCO.
Fifax, H1'24 Webcast
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FIFAX Plc’s Half-year report for January–June 2024 (unaudited): Fish stock is growing as planned and the company is preparing for the commercial launch
Fifax to publish Half-Year Report for 2024 on 21 August 2024 approximately at 21.00
Inside information: Fifax and the seafood house Kalavapriikki have entered a long-term frame agreement, which includes a prepayment to Fifax
Inside Information: Fifax has agreed on EUR 500.000 convertible debt financing
Fifax Plc: Notification of Change in Holdings according to Finnish Securities Market Act Chapter 9 § 10: FV Group AB
Fifax Plc: Notification of Change in Holdings according to Finnish Securities Market Act Chapter 9 § 10: Etrisk Oy
Fifax Plc: Notification of Change in Holdings according to Finnish Securities Market Act Chapter 9 § 10: Holdix Oy
Fifax Plc: Notification of Change in Holdings according to Finnish Securities Market Act Chapter 9 § 10: Suomen Teollisuussijoitus Oy
Fifax Plc: Notification of Change in Holdings according to Finnish Securities Market Act Chapter 9 § 10: Ahlström Invest B.V.
Resolutions by Fifax’s Annual General Meeting and the constitutive meeting of the Board of Directors
Fifax has taken in use the second Grow-out unit
Notice of the Annual General Meeting of FIFAX Plc
Fifax’s Annual Report 2023 has been published
