Björn Borg Q2'24: Running fast in the second quarter
Despite a continued challenging environment, Björn Borg delivered a strong second quarter that beat our estimates. The valuation of P/E 16x and EV/EBIT 12x for 2025 still looks moderate and a combination of dividends and earnings growth should give around 10% total shareholder return.
Björn Borg
Björn Borg is active in the retail industry. The company is a manufacturer and retailer of clothing, shoes, bags, glasses, and other accessories, with a focus on the sports segment. The Group has its own operations at all stages from brand development to consumer sales and sales take place via concept stores, licensed retailers. as well as via E-commerce. The largest market is in the Nordic region. The head office is located in Stockholm.
Read more on company pageKey Estimate Figures19.08
2023 | 24e | 25e | |
---|---|---|---|
Revenue | 872.3 | 1,030.8 | 1,119.1 |
growth-% | 4.44 % | 18.17 % | 8.57 % |
EBIT (adj.) | 100.6 | 111.0 | 126.8 |
EBIT-% (adj.) | 11.53 % | 10.77 % | 11.33 % |
EPS (adj.) | 3.02 | 3.18 | 3.86 |
Dividend | 3.00 | 3.00 | 3.40 |
Dividend % | 6.61 % | 5.34 % | 6.06 % |
P/E (adj.) | 15.03 | 17.67 | 14.54 |
EV/EBITDA | 8.67 | 10.04 | 8.97 |