Biohit: From basics to growth mode
In its recent strategy update for 2024-2028, Biohit said it aims to achieve 15-20% annual growth with an EBIT target of at least 10% of revenue. Compared to our previous forecasts, the targets emphasis growth, with profitability taking a back seat. We have updated our forecasts to higher growth, but contrastively we have slightly lowered our earnings expectations. With capital geared towards supporting growth, we no longer expect dividends in the coming years. The valuation picture has remained largely unchanged, and the risk/return ratio of the stock remains attractive.
Biohit
Biohit is a medical technology company. The company develops and manufactures laboratory equipment, supplies, and diagnostic analysis systems adapted for research, care, and industrial laboratories. In addition to the main activities, technical support, maintenance, and training services are offered within the mentioned work area. The largest presence is in the Nordic market. The company is headquartered in Helsinki.
Read more on company pageKey Estimate Figures20.12.2023
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 11.0 | 12.4 | 14.1 |
growth-% | 16.99 % | 13.23 % | 13.95 % |
EBIT (adj.) | 1.1 | 1.9 | 1.9 |
EBIT-% (adj.) | 10.30 % | 15.36 % | 13.12 % |
EPS (adj.) | 0.04 | 0.11 | 0.11 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | 39.30 | 21.00 | 20.37 |
EV/EBITDA | 11.40 | 11.66 | 11.44 |