Epävarmuutta on, mutta tehostamistoimet purevat

SIILIResearch28.02.2024, 06.42

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Siilin liikevaihto laski hieman odotuksia enemmän, mutta tehostamistoimet purivat odotuksia paremmin Q4:llä. Yhtiö on luottavainen kuluvaan vuoteen, vaikka trendi oli vielä pehmeä Q4:llä. Ennusteemme kuluvalle vuodelle ovat ohjeistuksen alalaidalla/keskitasolla ja markkinan painamana alle historiallisen tason. Ennusteillamme arvostuskuva on näkemyksemme mukaan houkutteleva (2024 EV/EBITA 8x). Talouden ja markkinan elpyessä on yhtiön operatiivisessa tekemisessä ja siten osakkeessa nousuvaraa.

Siili Solutions operates in the IT sector. The company develops and integrates software for information systems, and offers services related to the development of technology platforms, information management, IT architecture, and various project management. The expertise is found in data management, analysis, and artificial intelligence. The company was founded in 2005 and is headquartered in Helsinki.

Key Estimate Figures27.02.2024

	2023	24e	25e
Revenue	122.7	121.7	128.0
growth-%	3.7 %	-0.8 %	5.2 %
EBIT (adj.)	8.7	9.0	10.0
EBIT-% (adj.)	7.1 %	7.4 %	7.8 %
EPS (adj.)	0.66	0.79	0.92
Dividend	0.26	0.30	0.35
Dividend %	2.7 %	9.2 %	10.7 %
P/E (adj.)	14.7	4.2	3.5
EV/EBITDA	6.7	2.0	1.6

Forum discussions

Behind JTeli, there is truly strong expertise, experience, and capital: AI/Silo, industrial support, scaling, and networks. What is their ultimate...

6 hours ago

by TitoK

In the latest register of Siili shareholders, Jtel has (as expected) increased its stake to a solid four percent. The recent uptick in the share...

yesterday

by mikde

There may be goodwill on the balance sheet. For these IT companies, P/B is not a good metric.

8/26/2026, 7:54 PM

by StockTycoon

@TitoK The valuation is still shockingly cheap at P/B 0.6 even though it’s up 50% from the bottom. If this ever achieves even a 5% return on...

8/26/2026, 6:55 PM

by Valkeus

Inderes’s target price is starting to be wrapped up and we’ve climbed about 20% from the profit warning. Someone is clearly accumulating this...

8/26/2026, 1:09 PM

by TitoK

Here is the company report on Siili from Joni We reiterate our “accumulate” recommendation and target price of 3.4 euros for the stock. The ...

8/12/2026, 7:56 AM

by Sijoittaja-alokas

Joni interviewed Siili’s interim CEO Markku Savusalo following the Q2 results Topics: 00:00 Intro 00:10 Markku Savusalo 01:25 Key highlights...

8/11/2026, 10:41 AM

by Sijoittaja-alokas

Epävarmuutta on, mutta tehostamistoimet purevat

SIILIResearch28.02.2024, 06.42

Joni GrönqvistAnalyst

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Download report (PDF)This report is only available for Inderes Premium customers.

Key Estimate Figures27.02.2024

	2023	24e	25e
Revenue	122.7	121.7	128.0
growth-%	3.7 %	-0.8 %	5.2 %
EBIT (adj.)	8.7	9.0	10.0
EBIT-% (adj.)	7.1 %	7.4 %	7.8 %
EPS (adj.)	0.66	0.79	0.92
Dividend	0.26	0.30	0.35
Dividend %	2.7 %	9.2 %	10.7 %
P/E (adj.)	14.7	4.2	3.5
EV/EBITDA	6.7	2.0	1.6