Sitowise: Sustainable performance is higher than currently
Sitowise’s next few years will be more challenging than we have expected in terms of market development and earnings level. In addition to market challenges, internal challenges such as acquisition integration raise uncertainties about the company’s long-term potential, which lowered our target price together with short-term risks. However, the growing and highly profitable business areas, as well as the construction market that will eventually pick up and normalizing utilization ratio, create a base for earnings growth. Compared to the current low performance, we find the share's risk/return ratio attractive.
Sitowise Group
Sitowise Group operates in the construction and infrastructure industry. The company specializes in the development of major construction projects. Examples of projects that the company carries out, on its own and in collaboration with other companies in the industry, include road and building construction, as well as pipe and underground constructions. The largest operations are in the Nordic market, where customers are found among corporate customers and public actors.
Read more on company pageKey Estimate Figures02.11.2023
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 204.4 | 213.6 | 206.3 |
growth-% | 13.99 % | 4.51 % | -3.44 % |
EBIT (adj.) | 17.5 | 14.4 | 15.5 |
EBIT-% (adj.) | 8.54 % | 6.75 % | 7.53 % |
EPS (adj.) | 0.34 | 0.23 | 0.26 |
Dividend | 0.10 | 0.12 | 0.14 |
Dividend % | 1.95 % | 4.18 % | 4.88 % |
P/E (adj.) | 15.02 | 12.46 | 11.01 |
EV/EBITDA | 11.28 | 7.53 | 6.75 |