Solteq: Switching to a smaller gear
Solteq’s Q4 was a continuation for soft Q3. However, the whole year was strong, and the company is clearly better positioned to continue growth and internationalization with investments and acquisitions. The valuation picture of the share is attractive, and the potential is clearly higher than our forecasts. Short-term talent market risks and transformation into a Nordic software company that is still in the early stages lead us to switch to a smaller gear.
Solteq
Solteq is an IT consulting company. The company specializes in ERP - Enterprise Resource Planning. Other services offered are related to financial management and inventory management. The customers consist of small and medium-sized corporate customers active in the retail and hotel industry. Solteq operates worldwide, with the largest presence in Europe, North America, and Asia.
Read more on company pageKey Estimate Figures18.02.2022
2021 | 22e | 23e | |
---|---|---|---|
Revenue | 69.1 | 76.7 | 83.4 |
growth-% | 14.23 % | 11.08 % | 8.76 % |
EBIT (adj.) | 7.4 | 7.7 | 9.8 |
EBIT-% (adj.) | 10.73 % | 10.04 % | 11.79 % |
EPS (adj.) | 0.23 | 0.24 | 0.35 |
Dividend | 0.10 | 0.15 | 0.18 |
Dividend % | 2.14 % | 24.27 % | 29.13 % |
P/E (adj.) | 20.68 | 2.57 | 1.78 |
EV/EBITDA | 9.23 | 2.24 | 1.58 |