Admicom: Value creation by digitizing the construction industry
Admicom has already had a very strong decade of profitable growth in Finland and the updated strategy seeks the next growth leap by digitizing the European construction industry. The valuation of the share already looks moderate with our estimates that are clearly more cautious than the company’s objectives considering Admicom’s interesting investment profile and there is potential for clearly better performance in the long term. The biggest question mark in terms of objectives is still the success of internationalization, but there is also plenty of growth opportunities left in Finland.
Admicom
Admicom operates in the IT sector. The company is a developer of cloud-based services that mainly concern administration, accounting, payroll management, and project management. In addition to the main business, training and customer support are offered. The customers are found among small and medium-sized corporate customers, with the largest operations in construction and industry. The head office is located in Jyväskylä.
Read more on company pageKey Estimate Figures16.03.2023
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 31.6 | 33.3 | 35.4 |
growth-% | 27.19 % | 5.33 % | 6.35 % |
EBIT (adj.) | 13.7 | 12.4 | 13.6 |
EBIT-% (adj.) | 43.44 % | 37.26 % | 38.27 % |
EPS (adj.) | 2.19 | 1.98 | 2.15 |
Dividend | 1.30 | 1.20 | 1.30 |
Dividend % | 2.80 % | 2.57 % | 2.79 % |
P/E (adj.) | 21.27 | 23.57 | 21.73 |
EV/EBITDA | 16.25 | 18.10 | 16.21 |