Siili Solutions: International operations drive earnings growth
Siili has grown nicely over the last two years while continuously improving its profitability. The company has also implemented two acquisitions in line with its strategy, accelerating internationalization and strengthening its public sector business. Siili is now clearly on a more solid footing and ready to pursue the growth and profitability targets of coming years, which were raised in spring. However, in the short term, economic uncertainty increases uncertainty and we expect slightly more moderate growth and profitability than the targets suggest. The expected return (~15%) and highly attractive valuation (22-23e EV/EBIT 9x and 7x) support a strong positive view of the share while providing a safety margin against risks.
Siili Solutions
Siili Solutions is a provider in the IT sector. The company develops and integrates software for information systems and offers services related to the development of technology platforms, information management, IT architecture, and various project management. The competence is found in data management, analysis, and artificial intelligence. Siili Solutions was founded in 2005 and is headquartered in Helsinki.
Read more on company pageKey Estimate Figures16.11.2022
2021 | 22e | 23e | |
---|---|---|---|
Revenue | 99.3 | 118.1 | 133.2 |
growth-% | 19.18 % | 18.93 % | 12.82 % |
EBIT (adj.) | 9.3 | 12.3 | 13.7 |
EBIT-% (adj.) | 9.35 % | 10.45 % | 10.27 % |
EPS (adj.) | 0.98 | 1.05 | 1.25 |
Dividend | 0.18 | 0.25 | 0.30 |
Dividend % | 1.23 % | 4.24 % | 5.08 % |
P/E (adj.) | 14.96 | 5.64 | 4.72 |
EV/EBITDA | 9.57 | 2.80 | 2.15 |