contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


relais-strong-q4-intents-to-increase-its-manda-pace-nordea

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

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.

Hi, Denmark is a slightly different market geographically (short distances, mild winter), so it cannot be directly compared to, for example, Finland or Norway, even though the number of vehicles and population is relatively the same. From our perspective, there is certainly a lot of potential because we don’t have a single repair shop there yet. It is an interesting market, which I have noted before.

It has occasionally been mentioned in interim reports from Denmark that Relais’s presence is still missing there, so I ask: What is the market potential in Denmark?

You are right that the Swedish market still has growth potential. This can be found in three ways: 1) By increasing the share of vehicle maintenance in our current network, as it is currently more trailer-focused than in Finland 2) By making more targeted acquisitions in the so-called independent sector and 3) By taking more market share from vehicle manufacturers’ workshops. As stated earlier, the market share of this so-called “OE” sector in the Nordic countries is typically 70-80%. In the passenger vehicle maintenance and repair markets, the shares are pretty much 50/50 between the independent sector and OE operators.

Has there been any discussion about the market potential of repair shop operations in Sweden? I saw in the latest presentation that there are more stores in Finland than in Sweden, which doesn’t quite add up considering the population base. To put it simply, I would imagine there is considerable room for expansion.

Here are Petri’s comments on Relais’ small acquisition.   The Group’s subsidiary Team Verkstad has agreed to acquire TJ Fordonsservice AB, which offers maintenance and repair services for trucks and other heavy commercial vehicles. The small acquisition is in line with Relais’ strategy and value creation model, as the company invests to strengthen its geographical position in the Swedish market, presumably with a good return on capital. https://www.inderes.fi/analyst-comments/relais-jatkaa-tasmahankintoja-huolto-ja-korjaamopalveluissa

Here we go! In my opinion, these small, complementary acquisitions also play an important role in the growth story. At least Team Verkstad in Sweden and Raskone in Finland are already capable of making such acquisitions concerning repair shops. There, however, local management continuously monitors and scans the market, and when good opportunities arise, deals can always be made, as was recently seen, for example, with the acquisition of repair shops from Wetteri. I’m sure we’ll soon see these in Norway too, now that we entered its repair shop market in the spring

From small streams… https://www.inderes.fi/releases/relais-group-oyj-relais-groupin-ruotsalainen-konserniyhtio-team-verkstad-ostaa-tj-fordonsservice-abn

Relais Group

Relais reported Q4 adjusted EBITA of EUR 10.6m, 10% above LSEG Data & Analytics consensus. Organic sales growth was 9% y/y in Q4, while we anticipated 3% growth. Net sales were EUR 90.7m (up...

Relais reported Q4 adjusted EBITA of EUR 10.6m, 10% above LSEG Data &amp; Analytics consensus. Organic sales growth was 9% y/y in Q4, while we anticipated 3% growth. Net sales were EUR 90.7m (up 12% y/y), 4% above consensus expectations. Gross margin came 45.9bp largely in line with expectations and was up 230bp y/y to 45.9%. Operating cash flow almost doubled to EUR 16.4m (EUR 8.4m a year ago) taking leverage down to 2.7x (3.0x at the end of Q3). DPS proposal is EUR 0.50 versus consensus of EUR 0.47. Relais does not give short-term outlook for 2025 but sees stable market situation in operating countries and aims to increase the pace of acquisitions. We note the company has target to reach EUR 50m adjusted EBITA on pro forma basis by 2025. On initial take, we believe consensus to take up estimates to the tune of low-single-digits.