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Third party research

Trifork: Bringing Customers to the Future - Analyst Group

Trifork Group

This is a third party research report and does not necessarily reflect our views or values

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Trifork A/S (”Trifork” or ”the Company”) is a Danish IT and business service provider operating in 6 business areas and 12 countries, through a roll up business model. Trifork help customers to make their businesses more efficient through software and AI solutions. Trifork’s innovative business model enables the Company to establish long-term customer relationships and thereby drive innovation. Recent investments in the aftermarket segment are estimated to increase the EBIT margin from 9.8% in 2022 to 10.9% in 2024. In addition, the segment Inspire, which focuses on attracting new customers, increased by 138.5% in 2022, the improved Inspire segment is estimated to positively impact all core business areas and be instrumental in the forecasted increase of total revenue from DKK 1,390.2m in 2022 to DKK 2,139.6m in 2024. As a result, Trifork is estimated to grow revenue with a CAGR of 24.1%, outperforming the market CAGR of 10%. A relative valuation with a target EV/EBIT multiple of 17.3x applied to the estimated EBIT in 2024 of DKK 233.1m implies an enterprise value of DKK 4,032.6m, corresponding to a share price of DKK 201 in a Base scenario.
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