Scanfil

7.38 EUR

-1.07 %

SCANFL

NASDAQ Helsinki

Software

Technology

5,376 following

-1.07%

-6.7%

-3.02%

-1.73%

-5.99%

-5.75%

-7.87%

-5.38%

+64.37%

+858.44%

www.scanfil.com/investors

Scanfil is an international electronics contract manufacturer specializing in industrial and B2B customers. Its service offering includes manufacturing of end-products and components such as PCBs. Manufacturing services are the core of the company supported by design, supply chain, and modernization services. It operates globally in Europe, the Americas, and Asia. Customers are mainly companies operating in process automation, energy efficiency, green transition, and medical segments.

P/E (adj.) (24e)

12.01

EV/EBIT (adj.) (24e)

9.47

P/B (24e)

1.65

Dividend yield-% (24e)

3.39 %

Target price

8.70 EUR

Recommendation

Accumulate

Updated

27.10.2024

NASDAQ Helsinki

SCANFL

Daily low / high price

7.36 / 7.44 EUR

Market cap

481.69M EUR

Turnover

10.08K EUR

Volume

1.4K

Business risk

Valuation risk

Current

Latest research

Scanfil Q3'24: Outlook contained both good and bad

28.10.2024

Scanfil: Boost from acquisition diluted by market conditions

07.10.2024

Scanfil Q2'24: No miracles needed for the price level

07.08.2024

Analyst

Antti Viljakainen

Head of Research

Latest videos

Scanfil Q3’24: Both good and bad

11.11.2024

Scanfil Press Conference - Friday, Oct. 4th at 14:00 EEST

04.10.2024

Scanfil: Profit warning risk still exists

04.10.2024

Income statement

	2020	2021	2022	2023	2024e	2025e	2026e	2027e
Revenue	595.3	695.7	843.8	901.5	772.7	844.0	927.0	986.2
growth-%	2.7 %	16.9 %	21.3 %	6.8 %	-14.3 %	9.2 %	9.8 %	6.4 %
EBITDA	60.5	55.0	62.9	80.4	73.9	81.3	87.6	92.3
EBIT (adj.)	39.1	40.3	45.4	61.3	53.0	58.7	64.9	69.5
EBIT	44.4	39.6	45.4	61.3	53.0	58.7	64.9	69.5
Profit before taxes	41.8	37.7	41.7	61.6	52.6	57.3	64.3	69.2
Net income	36.9	29.8	35.0	48.2	40.1	44.7	50.1	54.0
EPS (adj.)	0.50	0.47	0.54	0.74	0.61	0.68	0.77	0.83
growth-%	0.5 %	-5.6 %	14.9 %	35.9 %	-16.7 %	11.4 %	12.1 %	7.8 %
Dividend	0.17	0.19	0.21	0.23	0.25	0.27	0.29	0.31
Dividend ratio	29.7 %	41.1 %	38.7 %	31.2 %	40.7 %	39.4 %	37.8 %	37.5 %

Profitability and return on capital

	2020	2021	2022	2023	2024e	2025e	2026e	2027e
EBITDA-%	10.2 %	7.9 %	7.5 %	8.9 %	9.6 %	9.6 %	9.5 %	9.4 %
EBIT-% (adj.)	6.6 %	5.8 %	5.4 %	6.8 %	6.9 %	7.0 %	7.0 %	7.0 %
EBIT-%	7.5 %	5.7 %	5.4 %	6.8 %	6.9 %	7.0 %	7.0 %	7.0 %
ROE	21.1 %	15.3 %	16.1 %	19.6 %	14.4 %	14.6 %	14.9 %	14.6 %
ROI	19.3 %	15.2 %	14.5 %	18.2 %	15.9 %	17.3 %	17.9 %	17.7 %

Valuation

	2020	2021	2022	2023	2024e	2025e	2026e	2027e
Share price (EUR)	6.52	7.46	6.58	7.83	7.38	7.38	7.38	7.38
Shares	64.5	64.5	64.5	65.3	65.3	65.3	65.3	65.3
Market cap	420.4	481.0	424.2	511.1	481.7	481.7	481.7	481.7
Enterprise value	438.6	540.9	509.8	562.8	501.8	476.9	452.9	423.9
EV/S	0.7	0.8	0.6	0.6	0.6	0.6	0.5	0.4
EV/EBITDA	7.2	9.8	8.1	7.0	6.8	5.9	5.2	4.6
EV/EBIT (adj.)	11.2	13.4	11.2	9.2	9.5	8.1	7.0	6.1
EV/EBIT	9.9	13.7	11.2	9.2	9.5	8.1	7.0	6.1
P/E (adj.)	13.0	15.8	12.1	10.6	12.0	10.8	9.6	8.9
P/E	11.4	16.2	12.1	10.6	12.0	10.8	9.6	8.9
P/B	2.3	2.3	1.9	1.9	1.7	1.5	1.4	1.2
P/S	0.7	0.7	0.5	0.6	0.6	0.6	0.5	0.5
Dividend yield	2.6 %	2.6 %	3.2 %	2.9 %	3.4 %	3.7 %	3.9 %	4.2 %
Equity ratio	53.9 %	43.8 %	43.1 %	51.3 %	59.0 %	61.2 %	61.7 %	62.8 %
Gearing ratio	10.0 %	28.9 %	37.7 %	19.4 %	6.9 %	-1.5 %	-8.2 %	-14.9 %

Quarter data

	Q4/23	2023	Q1/24	Q2/24	Q3/24	Q4/24e	2024e	Q1/25e	Q2/25e
Revenue	220.8	901.5	198.9	195.5	173.3	205.0	772.7	200.0	213.0
EBITDA	18.3	80.4	17.7	19.0	17.3	19.9	73.9	18.9	20.7
EBIT	13.4	61.3	12.7	13.9	12.2	14.2	53.0	13.2	15.0
Profit before taxes	14.1	61.6	12.9	14.0	12.0	13.8	52.6	12.8	14.6
Net income	10.9	48.2	9.8	10.8	8.9	10.6	40.1	10.0	11.4

ShowingAll content types

Video11/11/2024, 9:05 AM by

Antti Viljakainen, Pia Maljanen

Scanfil Q3’24: Both good and bad

Scanfil’s revenue fell significantly below our forecast. Given the sluggish figures in Q3, the bar for Q4 is already very high. The company expects Q4 to be the strongest quarter of the year, but we cannot exclude the risk of a second profit warning before the end of 2024.

Scanfil

7.38

EUR