Boreo: Solid attacking game
Boreo published its Q2 report on Thursday that operatively was nearly fully in line with our expectations. The company's businesses were in good shape and despite external challenges, financial performance is solid. The share’s valuation has risen but relative to the convincingly progressing acquisition strategy and the longer-term value creation potential it includes we do not consider the price to be too high. Thus, we consider the annual risk adjusted return expectation to still be sufficient.
Boreo
Boreo operates in the retail industry. The company's products consist of electronics products and include everything from batteries, components, antennas, and cables to tools for demanding environments in electronics and communication. Sales take place via the company's E-commerce platform but also via physical stores. The largest presence is in the Finnish and Baltic markets. Boreo was previously known as Yleiselektroniikka and is headquartered in Espoo.
Read more on company pageKey Estimate Figures06.08.2021
2020 | 21e | 22e | |
---|---|---|---|
Revenue | 97.6 | 138.2 | 155.1 |
growth-% | 63.02 % | 41.55 % | 12.24 % |
EBIT (adj.) | 5.9 | 9.7 | 12.4 |
EBIT-% (adj.) | 6.02 % | 7.04 % | 7.97 % |
EPS (adj.) | 1.50 | 2.45 | 3.28 |
Dividend | 0.40 | 0.44 | 0.48 |
Dividend % | 1.36 % | 3.73 % | 4.07 % |
P/E (adj.) | 19.59 | 4.81 | 3.60 |
EV/EBITDA | 15.11 | 4.34 | 3.19 |