Biohit: Growth measures taking effect
Biohit’s H2 exceeded our expectations in terms of growth and earnings were in line with our forecasts. Revenue growth was supported by positive development in various products and markets. We raise our revenue growth forecasts with the company’s good track record. We raise our earnings forecasts more moderately due to the increase in cost levels. The valuation picture has remained largely unchanged and the risk/reward ratio of the stock is attractive enough in our opinion to support a Buy recommendation.
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 Figures15.02
2023 | 24e | 25e | |
---|---|---|---|
Revenue | 13.1 | 15.3 | 17.4 |
growth-% | 19.17 % | 16.95 % | 14.00 % |
EBIT (adj.) | 1.8 | 1.9 | 2.5 |
EBIT-% (adj.) | 13.41 % | 12.50 % | 14.17 % |
EPS (adj.) | 0.12 | 0.13 | 0.13 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | 16.28 | 18.22 | 17.62 |
EV/EBITDA | 11.42 | 11.43 | 8.79 |