Analyst Comment
Sitowise makes minor acquisition
By Olli Koponen
Translation: Original comment published in Finnish on 9/26/2024 at 6:30 am EEST.
Sitowise has acquired LandPro Oy, a consulting company specializing in land acquisition for construction projects and marine permitting. LandPro’s revenue in 2023 was around 0.9 MEUR This is a small transaction (0.4%) compared to Sitowise's revenue (2023: 211 MEUR) and has no impact on our forecasts. The purchase price was not disclosed, but we believe Sitowise paid a fair price for the company's nearly 20% EBIT margin and good growth.
According to the press release, the companies have worked together in the past and the acquisition provides further opportunities to deepen the partnership. Sitowise will now be able to offer a more comprehensive package to its clients in the infrastructure and energy sectors, as the company will also have expertise in permitting and land acquisition. For LandPro, the deal offers excellent resources for growth, as well as access to larger project packages.
Sitowise is a Nordic expert in technical consulting and digital solutions. Our mission is to engineer the foundation of Nordic resilience. We design infrastructure, buildings and cities that stand the test of time and change. We enhance society’s operational reliability by developing critical infrastructure and ensure the sustainable use of the environment and natural resources. We operate in four business areas: Infra, Buildings, Digital solutions and Sweden. The Group’s net sales in 2025 were EUR 189 million, and the company employs approximately 1,900 experts. Sitowise Group Plc is listed on the Nasdaq Helsinki stock exchange under the trading symbol SITOWS.
Read more on company pageKey Estimate Figures13.08.2024
| 2023 | 24e | 25e | |
|---|---|---|---|
| Revenue | 210.9 | 195.4 | 203.6 |
| growth-% | 3.2 % | -7.3 % | 4.2 % |
| EBIT (adj.) | 13.6 | 9.1 | 12.8 |
| EBIT-% (adj.) | 6.4 % | 4.6 % | 6.3 % |
| EPS (adj.) | 0.21 | 0.09 | 0.18 |
| Dividend | 0.00 | 0.00 | 0.10 |
| Dividend % | 3.4 % | ||
| P/E (adj.) | 15.2 | 31.8 | 16.1 |
| EV/EBITDA | 8.5 | 9.2 | 7.6 |
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