Relais Group

14.55 EUR

-1.02 %

3,835 following
Corporate customer

RELAIS

NASDAQ Helsinki

Automobiles

Consumer Goods & Services

-1.02 %
+10.23 %
-14.16 %
-12.87 %
-8.78 %
+0.34 %
+4.30 %
-13.39 %
+97.96 %

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
270.06M EUR
Turnover
26.62K EUR
P/E (adj.) (26e)
10.85
EV/EBIT (adj.) (26e)
11.02
P/B (26e)
1.99
EV/S (26e)
1.15
Dividend yield-% (26e)
2.61 %
Coverage
Recommendation
Buy
Target price
18.00 EUR
Updated
06.05.2026
Disclaimer
Petri Gostowski
Petri Gostowski

Co. Head of Research

Latest research

Latest analysis report

Released: 07.05.2026

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
ShowingAll content types
Third party research

Relais Group: Cold winter to support earnings - Nordea

Ahead of Relais' Q1 report, we make only minor estimate revisions and derive a higher DCF- and multiples-based fair value range of EUR 17.7-21.6 (17.3-21.1). We note the cold winter in the Nordics in Q1, which we expect to have supported the top line...

Relais Group

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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
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
28
Since the focus of Relais’s operations has shifted westward in recent years, what kind of move would it be to relocate the headquarters to Sweden and list the company on our western neighbor’s stock exchange? Serial acquirers are valued there, and generally, the world values keeping...
4/27/2026, 7:43 AM
by Pohdiskelua
19
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
16
Here are Petri’s comments on Relais’s Norwegian acquisition Relais announced on Thursday that it has acquired the entire share capital of the Norwegian Service-Ekspressen AS (SE). The acquisition is a typical strategic add-on purchase, through which Relais strengthens its position...
4/17/2026, 4:58 AM
by Sijoittaja-alokas
13
An earnings preview and a target price hike from Nordea, increased from 17.7 to 21.6. They are expecting a strong Q1 and full year, as well as ambitious targets from the Capital Markets Day. https://research.nordea.com/api/reportfileapi?id=7484aa8a-19b6-4368-afae-5b50b59c70f7
5/6/2026, 12:49 PM
by OttoJ
11
I see it this way: a moderate, preferably growing, dividend is a guiding factor for discipline in growth. Paying a dividend steers acquisitions toward the best targets. In my opinion, this is a good setup considering the nature of serial acquisition and the position of shareholders...
4/27/2026, 6:13 AM
by Turskapilkki
9
Here are Petri’s pre-commentary notes, as Relais reports its Q1 results on Wednesday, May 13th – that is, next Wednesday. In connection with this report, we have accounted for the company’s reporting change and a small acquisition in our forecasts, but overall the forecast changes...
5/6/2026, 8:59 PM
by Sijoittaja-alokas
8
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