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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.
Relais' Q2 print fell short of our estimates despite stronger-than-expected revenue growth. However, there were factors that we do not believe will have a long-term impact.
Relais' Q2 adjusted EBITA of EUR 8m fell 14% short of Modular Finance consensus despite a 2% top-line beat. Q2 organic growth of 4% came in ahead of our forecast, although higher credit loss allowances, organic growth investments and one-off relocation...
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Relais Q2 adjusted EBITA of EUR 8m was up 6% y/y and came 14% below Modular Finance consensus of EUR 9.4m. There were EUR 0.6m higher credit loss provisions and if adjusting for these, Q2 EBITA missed by 8%. Organic sales growth was 4% y/y in Q2 (Nordea...
We estimate the company's revenue and earnings growth to have remained strong, reflecting the acquisitions made. We have made revisions to our estimates, reflecting the market situation, operational development, and acquisitions.
Ahead of Relais' Q2 report, we include the tershine acquisition in our estimates and take a slightly more cautious near-term view on a seasonally slow Q2. We expect solid underlying demand, with 2% y/y organic growth for Q2, while acquisitions in Commercial...
Relais is acquiring 70% of vehicle care company tershine from its founder and entrepreneur who will continue to lead tershine. Closing is expected as of today and Relais will consolidate tershine from the beginning of August. tershine was founded in ...
