Pihlajalinna: Role of outsourcing continues shrinking
Pihlajalinna’s Q1 result was strong and slightly above our estimates. The positive earnings development was again based on clearly improved profitability in the private clinic network. We raised our estimates in line with the earnings overshoot of Q1. We still find the company’s return/risk ratio good despite the elevated political risks.
Pihlajalinna
Pihlajalinna produces private social and health services. The company offers comprehensive medical center and hospital services as well as occupational health and insurance cooperation services. In addition, Pihlajalinna offers services for welfare areas, such as social and health care service production models. The company was founded in 2001 and its head office is located in Tampereella, Finland.
Read more on company pageKey Estimate Figures09.05.2021
2020 | 21e | 22e | |
---|---|---|---|
Revenue | 508.7 | 549.0 | 568.8 |
growth-% | -1.92 % | 7.93 % | 3.61 % |
EBIT (adj.) | 21.1 | 26.4 | 27.7 |
EBIT-% (adj.) | 4.15 % | 4.81 % | 4.86 % |
EPS (adj.) | 0.52 | 0.72 | 0.76 |
Dividend | 0.20 | 0.24 | 0.25 |
Dividend % | 2.13 % | 2.20 % | 2.29 % |
P/E (adj.) | 18.09 | 15.05 | 14.27 |
EV/EBITDA | 7.75 | 6.78 | 6.31 |