Analyst Comment
Puuilo announced a new store opening
Translation: Original comment published in Finnish on 05/02/2024 at 7:08 am EEST
Puuilo announced that it will open a new store under its current concept in Äänekoski in Central Finland in late 2024. The store in Ääenkoski will be the last of the 6 store openings planned by Puuilo for this year. We are neutral about the news, but it strengthens our view of achieving the network of 48 Puuilo stores during the current financial year.
The store will be opened next to Halpahalli along Jyväskyläntie. Being close to competitors enables Puuilo to have a higher customer flow and the ability to undermine their market share (which the company provided evidence of in its Investor Day). The new store's floor area is about 3,000 square meters and it will employ 13-15 new employees when it opens, which is slightly below our estimated average store personnel (~18). This may be due to the optimization of store personnel costs announced by Puuilo, e.g., through more efficient refill orders and shift planning.
Puuilo operates in the retail sector. The company operates and manages several stores and trading locations. The range is broad and includes household and pet products that are resold under its own or other brands. Customers mainly consist of private players around the global market. The largest presence is found in Finland.
Read more on company pageKey Estimate Figures24.04.2024
| 2023 | 24e | 25e | |
|---|---|---|---|
| Revenue | 338.5 | 391.2 | 430.8 |
| growth-% | 14.2 % | 15.6 % | 10.1 % |
| EBIT (adj.) | 52.8 | 63.8 | 72.7 |
| EBIT-% (adj.) | 15.6 % | 16.3 % | 16.9 % |
| EPS (adj.) | 0.46 | 0.56 | 0.64 |
| Dividend | 0.38 | 0.45 | 0.51 |
| Dividend % | 4.3 % | 3.2 % | 3.7 % |
| P/E (adj.) | 19.6 | 25.1 | 21.8 |
| EV/EBITDA | 12.7 | 15.9 | 13.4 |
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