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Relais Group: Vehicle aftermarket consolidator

RELAISExtensive research30.05.2023, 11.26
Inderes
Discuss
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Relais' value creation model is based on owning and developing businesses, and consolidating the vehicle aftermarket. The company's track record of this is good for the past few years and we expect capital allocation to be a key value driver for the company also in the future. In our view, the current share valuation is moderate from several different angles. Thus, we consider the share’s risk/return ratio good.

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.

Read more on company page

Key Estimate Figures29.05.2023

202223e24e
Revenue260.7277.5289.6
growth-%9.6 %6.4 %4.4 %
EBIT (adj.)23.029.831.9
EBIT-% (adj.)8.8 %10.7 %11.0 %
EPS (adj.)0.801.001.12
Dividend0.400.420.44
Dividend %3.9 %3.5 %3.6 %
P/E (adj.)12.712.210.9
EV/EBITDA9.08.07.4

Forum discussions

Here are Petri’s preview comments as Relais reports its Q3 earnings on Wednesday We forecast that the company’s revenue continued to grow, reflecting...
11 hours ago
by Sijoittaja-alokas
5
Updates from Nordea and Carnegie as well. They are also expecting slightly softer momentum, with interest rates posing a headwind too. But all...
10/22/2026, 11:22 AM
by OttoJ
9
Chief Analyst Petri, hoping for evening and night shift differentials, finished an extensive report on Relais late last night Extensive reports...
10/21/2026, 10:39 PM
by Sijoittaja-alokas
15
Here are Jani Järvinen’s highlights on Relais https://x.com/jjamber0/status/2106313548687143081 In the tweet above, he quoted this “old” video...
10/3/2026, 9:57 AM
by Sijoittaja-alokas
24
The situation with Relais is a double-edged sword anyway. Looking purely at the P/S ratio, the company is priced like some basic cyclical like...
10/1/2026, 7:32 AM
by poutapilviä
26
The shareholder lists showed that foreign investors are dumping shares onto the bid. SEB -60,531 shares/month. Foreign money is surely spooked...
10/1/2026, 7:21 AM
by poutapilviä
22
Relais CEO Christian Gebauer was presenting their company
9/8/2026, 4:25 PM
by Sijoittaja-alokas
14