Sitowise: Efforts required for growth
The Q2 result was below our expectations, partly due to exceptionally active staff development. For the rest of the year, the result is expected to improve, and the guidance remained unchanged. The future outlook remains positive with market activity and a strong order book. We see continued growth in the coming years, both organically and through acquisitions, even though risks related to profitability are now elevated. Due to higher risks, the upside potential has become more moderate, but given the potential and the quality of the company, the expected return with dividend remains attractive.
Sitowise Group
Sitowise Group operates in the construction and infrastructure industry. The company specializes in the development of major construction projects. Examples of projects that the company carries out, on its own and in collaboration with other companies in the industry, include road and building construction, as well as pipe and underground constructions. The largest operations are in the Nordic market, where customers are found among corporate customers and public actors.
Read more on company pageKey Estimate Figures17.08.2022
2021 | 22e | 23e | |
---|---|---|---|
Revenue | 179.3 | 199.5 | 214.2 |
growth-% | 12.03 % | 11.24 % | 7.40 % |
EBIT (adj.) | 18.9 | 19.0 | 21.9 |
EBIT-% (adj.) | 10.57 % | 9.50 % | 10.21 % |
EPS (adj.) | 0.29 | 0.37 | 0.43 |
Dividend | 0.10 | 0.14 | 0.16 |
Dividend % | 1.24 % | 5.02 % | 5.73 % |
P/E (adj.) | 27.39 | 7.52 | 6.47 |
EV/EBITDA | 13.33 | 5.86 | 4.51 |