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Relais Group

15.65 EUR

+10.60 %

3,832 following
Corporate customer

RELAIS

NASDAQ Helsinki

Automobiles

Consumer Goods & Services

+10.60 %
+5.74 %
-9.28 %
-6.29 %
-1.57 %
+15.07 %
+26.21 %
-7.12 %
+112.93 %

Relais Group is an importer and wholesaler for the automotive industry. The group focuses mainly on the development of automotive electronic equipment for trucks. Examples of products that the company supplies include lighting products, applications for warning lights, camera systems, and other spare parts for heavy vehicles. The largest operations are found in the Nordic and Baltic markets, with customers in the aftermarket industry.

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Market cap
289.48M EUR
Turnover
50.64K EUR
P/E (adj.) (26e)
12.22
EV/EBIT (adj.) (26e)
11.72
P/B (26e)
2.16
EV/S (26e)
1.19
Dividend yield-% (26e)
2.43 %
Coverage
Recommendation
Accumulate
Target price
18.00 EUR
Updated
15.02.2026
Disclaimer
Petri Gostowski
Petri Gostowski

Co. Head of Research

Latest research

Latest analysis report

Released: 16.02.2026

Latest extensive report

Released: 18.06.2025

Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
13.5
2026

Interim report Q1'26

13.8
2026

Interim report Q2'26

28.10
2026

Interim report Q3'26

Risk
Business risk
Valuation risk
Low
High
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Third party research

Relais Group: We expect margins to rebound in H1 - Nordea

Relais' Q4 was soft, with the top line and adjusted EBITA below LSEG Data & Analytics consensus. The company noted low utilisation of resources due to market conditions, while we believe the warm start to the winter hampered performance. Given its elevated...

Relais Group
Third party research

Relais Group: Soft demand visible in Q4 earnings - Nordea

Relais Q4 adjusted EBITA of EUR 10.8m was up 2% y/y and came 16% below LSEG Data & Analytics consensus of EUR 12.8m. Organic sales growth was -2% y/y in Q4 (Nordea +1%) owing to continued tough market conditions. Net sales were EUR 117m (+29% y/y), 2...

Relais Group
Forum discussions
9.9 million Norwegian kroner of the purchase price will be paid in Relais Group shares. Relais Group’s Board of Directors will make a separate share issue decision. The subscription price of the shares will be determined based on the volume-weighted average price (VWAP) of the Relais...
4/16/2026, 10:58 AM
by JP199
27
Last week, the serial acquirers’ festival was held in Stockholm, organized by Redeye. Here is Christian’s presentation. The video sheds some light on the topic of capital efficiency, which has recently been discussed constructively in the thread. redeye.se Relais Group: Group CEO...
3/22/2026, 2:35 PM
by hiirimatto
25
I agree that future profitability development will play a major role in whether Relais will be an excellent investment going forward or something below that. On the other hand, if the company moves forward in that regard, I’d rather own the stock already before the profitability ...
3/16/2026, 2:13 PM
by Kotipuutarhuri
22
The deal-making continues; Inderes Relais Group Oyj: Relais Group ostaa Service-Ekspressen AS:n - Inderes Relais Group Oyj Lehdistötiedote 16.4.2026 kello 13.00Relais Group on tänään 16. huhtikuuta 2026 sopinut ostavansa 100 prosenttia Service-Ekspressen AS:n ("SE") osakkeista yhti...
4/16/2026, 10:11 AM
by N.K
21
Since there aren’t too many serial acquirers in the Finnish stock market, how have people here viewed Auroora? I have to note immediately that I haven’t seen many people compare Auroora to Relais at all; the comparison seems to be made only with Boreo. For example, Esa Juntunen evaluated...
3/28/2026, 5:21 PM
by Jageksi
17
It would certainly be most optimal to pay for acquisitions entirely with cash flow. But if 1/3 or 1/4 is paid in shares, the majority is cash, and thus the dilution isn’t particularly massive. Let’s see how Relais’s capital allocation develops in the future in this regard. The new...
4/16/2026, 7:16 PM
by Kotipuutarhuri
15
It might be that I’m looking at this too narrowly, but I personally like Relais as an investment because its business operations should keep humming along quite nicely even in this type of situation. The fact that fuel is more expensive doesn’t in any way remove the need for vehicle...
3/16/2026, 11:56 AM
by Jageksi
15
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