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Research

Björn Borg Q2'24: Running fast in the second quarter

By Lucas MattssonAnalyst
Björn Borg
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Despite a continued challenging environment, Björn Borg delivered a strong second quarter that beat our estimates. The valuation of P/E 16x and EV/EBIT 12x for 2025 still looks moderate and a combination of dividends and earnings growth should give around 10% total shareholder return.

Björn Borg

61.22SEK16.08.2024, 18.00
68SEKTarget price
Accumulate
Changed from:Accumulate
Recommendation updated:19.08.2024

Björn Borg operates in the fashion industry and focuses on the design, manufacture and distribution of sportswear and underwear. The company's products are aimed at private individuals looking for comfortable and stylish clothing. The business is global with a main presence in the Nordic region and Europe. Björn Borg was founded in 1984 and is headquartered in Solna.

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Key Estimate Figures19.08.2024

202324e25e
Revenue872.31,030.81,119.1
growth-%4.4 %18.2 %8.6 %
EBIT (adj.)100.6111.0126.8
EBIT-% (adj.)11.5 %10.8 %11.3 %
EPS (adj.)3.023.183.86
Dividend3.003.003.40
Dividend %6.6 %5.1 %5.8 %
P/E (adj.)15.018.415.1
EV/EBITDA8.710.49.3
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