contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment CompanyTagList on Company {
  pageUrl
  name
  viewerIsFollowing
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    ...CompanyTagList
    id
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls {
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      defaultInstrument {
        isin
        id
      }
      id
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    id
    name
    viewerIsFollowing
    defaultInstrument {
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


united-bankers-sales-should-pick-clearly-early-2024

__typename

title

isPremium

lang

htmlBody

companies

createdAt

publishers

authors

reactionGroups

pageUrl

alternatePageUrls

imgUrl

description

Sabbatical

Sauli Vilén

Analyst

Kasper Mellas

United Bankers operates in the financial industry. The bank offers a wide range of financial services in asset and fund management, as well as structured investment and corporate loans. The advice covers a large part of the major financial markets on a global level and includes both listed and unlisted companies, as well as a selection of listed funds and derivatives. The bank was founded in 1986 and is headquartered in Helsinki.

United Bankers

In light of the numbers, the H2 report was slightly better than we expected, and the guidance indicating earnings growth was also a positive surprise. The distribution of the fees was somewhat weaker than we expected, which together with subdued new sales left a neutral overview of the report.

<p>In light of the numbers, the H2 report was slightly better than we expected, and the guidance indicating earnings growth was also a positive surprise. The distribution of the fees was somewhat weaker than we expected, which together with subdued new sales left a neutral overview of the report. We made positive revisions to our forecasts and still expect good earnings growth from the company in the coming years, driven by a pick-up in new sales. Compared to our forecasts, the valuation is favorable and we find the return/reward ratio attractive. </p> 

Inderes

United Bankers: Sales should pick up clearly in early 2024

Probabilities of success in drug development

Return on capital (ROE, ROI, ROIC, RONIC)

Helsinki Stock Exchange is cheap

Drug development investment: Value creation through M&As and licensing agreements

Valuation methods: Valuation multiples

	2023	24e	25e
Revenue	52.1	55.3	60.3
growth-%	7.48 %	5.93 %	9.11 %
EBIT (adj.)	17.0	18.0	20.4
EBIT-% (adj.)	32.56 %	32.50 %	33.75 %
EPS (adj.)	1.23	1.23	1.40
Dividend	1.00	1.10	1.20
Dividend %	6.94 %	5.95 %	6.49 %
P/E (adj.)	11.67	15.06	13.25
EV/EBITDA	7.65	9.22	8.15

United Bankers

Key Estimate Figures17.02

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