Honkarakenne
2.73
EUR
-0.73 %
HONBS
NASDAQ Helsinki
Real Estate Management & Development
Real Estate
4,586 following
-0.73%
+0.74%
-5.21%
-15.48%
-15.22%
-9%
-61%
-22.44%
-41.61%
honka.com/en/investors-calendar
Honkarakenne operates in the real estate industry. The company is specialized as a housing developer and focuses mainly on developing houses, which includes log houses, log cabins, and saunas. The company is active in the entire value chain, from development, planning, to completion. The largest presence is in the Nordic countries and Europe. Honkarakenne is headquartered in Järvenpää.
P/E (adj.) (24e)
-9.42
EV/EBIT (adj.) (24e)
-10.42
P/B (24e)
1.17
Dividend yield-% (24e)
-
Target price
2.90 EUR
Recommendation
Reduce
Updated
22.8.2024
NASDAQ Helsinki
HONBS
Daily low / high price
2.6 / 2.81
EUR
Market cap
16.96M EUR
Turnover
15.23K EUR
Volume
5.6K
Business risk
Valuation risk
Current
Previous
Analyst
Olli Koponen
Analyst
Income statement
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 52.9 | 69.7 | 73.7 | 46.3 | 39.5 | 48.2 | 54.5 | 55.6 |
| growth-% | 11.2 % | 31.8 % | 5.7 % | -37.2 % | -14.7 % | 22.0 % | 13.1 % | 2.1 % |
| EBITDA | 4.8 | 6.1 | 6.3 | 2.1 | 0.6 | 4.0 | 5.1 | 5.1 |
| EBIT (adj.) | 3.4 | 3.7 | 4.2 | 0.3 | -1.8 | 1.3 | 2.2 | 2.3 |
| EBIT | 3.1 | 3.7 | 4.2 | -0.1 | -1.8 | 1.3 | 2.2 | 2.3 |
| Profit before taxes | 2.9 | 3.6 | 3.6 | -0.3 | -2.1 | 1.1 | 2.0 | 2.1 |
| Net income | 2.8 | 3.3 | 2.8 | -0.2 | -1.7 | 0.8 | 1.6 | 1.7 |
| EPS (adj.) | 0.53 | 0.57 | 0.47 | 0.03 | -0.29 | 0.14 | 0.27 | 0.29 |
| growth-% | 33.8 % | 6.7 % | -16.3 % | -93.2 % | -998.6 % | 92.1 % | 4.4 % | |
| Dividend | 0.18 | 0.25 | 0.25 | 0.09 | 0.00 | 0.10 | 0.14 | 0.14 |
| Dividend ratio | 37.5 % | 44.1 % | 52.7 % | -252.4 % | 70.0 % | 51.0 % | 50.0 % |
Profitability and return on capital
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| EBITDA-% | 9.1 % | 8.8 % | 8.5 % | 4.6 % | 1.6 % | 8.2 % | 9.3 % | 9.2 % |
| EBIT-% (adj.) | 6.4 % | 5.3 % | 5.7 % | 0.7 % | -4.5 % | 2.6 % | 4.1 % | 4.2 % |
| EBIT-% | 5.8 % | 5.3 % | 5.7 % | -0.2 % | -4.5 % | 2.6 % | 4.1 % | 4.2 % |
| ROE | 20.7 % | 21.1 % | 15.9 % | -1.2 % | -11.3 % | 5.9 % | 10.7 % | 10.5 % |
| ROI | 17.3 % | 19.5 % | 20.8 % | -0.4 % | -8.4 % | 5.6 % | 9.8 % | 10.1 % |
Valuation
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Share price (EUR) | 4.28 | 7.32 | 4.34 | 3.22 | 2.73 | 2.73 | 2.73 | 2.73 |
| Shares | 5.9 | 5.9 | 5.9 | 5.9 | 5.9 | 5.9 | 5.9 | 5.9 |
| Market cap | 25.1 | 42.9 | 25.5 | 19.0 | 16.1 | 16.1 | 16.1 | 16.1 |
| Enterprise value | 21.8 | 34.2 | 15.6 | 15.9 | 18.3 | 16.9 | 15.1 | 14.1 |
| EV/S | 0.4 | 0.5 | 0.2 | 0.3 | 0.5 | 0.4 | 0.3 | 0.3 |
| EV/EBITDA | 4.5 | 5.6 | 2.5 | 7.5 | 28.6 | 4.3 | 3.0 | 2.7 |
| EV/EBIT (adj.) | 6.5 | 9.3 | 3.7 | 51.2 | - | 13.5 | 6.8 | 6.1 |
| EV/EBIT | 7.1 | 9.3 | 3.7 | - | - | 13.5 | 6.8 | 6.1 |
| P/E (adj.) | 8.1 | 12.9 | 9.1 | 99.8 | - | 19.1 | 9.9 | 9.5 |
| P/E | 8.9 | 12.9 | 9.1 | - | - | 19.1 | 9.9 | 9.5 |
| P/B | 1.7 | 2.5 | 1.4 | 1.1 | 1.2 | 1.1 | 1.0 | 1.0 |
| P/S | 0.5 | 0.6 | 0.3 | 0.4 | 0.4 | 0.3 | 0.3 | 0.3 |
| Dividend yield | 4.2 % | 3.4 % | 5.8 % | 2.8 % | 3.7 % | 5.1 % | 5.3 % | |
| Equity ratio | 56.2 % | 56.5 % | 67.0 % | 64.6 % | 52.2 % | 52.2 % | 54.3 % | 57.0 % |
| Gearing ratio | -22.8 % | -51.1 % | -53.8 % | -18.2 % | 16.4 % | 5.8 % | -6.4 % | -12.2 % |
Quarter data
| Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24e | Q4/24e | 2024e | Q1/25e | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 23.3 | 46.3 | 14.5 | 25.0 | 39.5 | ||||
| EBITDA | 1.1 | 2.1 | -1.6 | 2.2 | 0.6 | ||||
| EBIT | -0.0 | -0.1 | -2.7 | 0.9 | -1.8 | ||||
| Profit before taxes | 0.2 | -0.3 | -3.3 | 1.2 | -2.1 | ||||
| Net income | 0.2 | -0.2 | -2.7 | 1.0 | -1.7 |
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HONKARAKENNE OYJ - MANAGERS’ TRANSACTIONS
HONKARAKENNE OYJ - MANAGERS’ TRANSACTIONS
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