Nurminen Logistics: Turnaround helps switch to growth track
Strong growth in the past year, the profitability turnaround and strengthened financial situation have clearly lowered Nurminen Logistics’ risk profile. We believe the company has excellent conditions for continued earnings growth as the China and Asia cargo train accelerates, although the growth rate involves uncertainty due to the early development stage of the market. Despite the uncertainty, we find the risk/return ratio of the share attractive following our significant positive estimate revisions.
Nurminen Logistics
Nurminen Logistics is an industrial group that offers transport and logistics services. The company's services include forwarding and freight handling services via rail transport, where the largest presence is in the Nordic and Baltic countries. Also, customized services are offered for various projects, as well as access to terminal service. The company was originally founded in 1886 and is headquartered in Helsinki.
Read more on company pageKey Estimate Figures19.11.2021
2020 | 21e | 22e | |
---|---|---|---|
Revenue | 80.7 | 134.4 | 145.7 |
growth-% | 16.46 % | 66.48 % | 8.42 % |
EBIT (adj.) | 0.4 | 11.2 | 13.8 |
EBIT-% (adj.) | 0.49 % | 8.35 % | 9.45 % |
EPS (adj.) | -0.08 | 0.09 | 0.13 |
Dividend | 0.00 | 0.02 | 0.03 |
Dividend % | 2.09 % | 3.14 % | |
P/E (adj.) | - | 10.88 | 7.26 |
EV/EBITDA | 11.63 | 9.83 | 6.85 |