Copyright © Inderes 2011 - present. All rights reserved.

Vincit

1,88

 

EUR

 

−0,53 %

VINCIT

First North Finland

Mjukvara

Teknologi

8 121 investerare följer bolaget.
−0,53%
0%
−15,7%
−17,18%
−32,86%
−41,8%
−45,03%
−77,51%
−63,42%
−69,18%
www.vincit.fi/en/investors

Vincit tillhandahåller tjänster inom design och mjukvaruutveckling. Tjänsterna inkluderar exempelvis mjukvara för e-handel och webbapplikationer, molnplattformar, mobila applikationer och IoT-lösningar. Tjänsterna används av både små- och medelstora företagskunder. Störst verksamhet återfinns inom Europa och Nordamerika. Vincit grundades 2007 och har sitt huvudkontor i Finland.

P/E (just.) (24e)
100,6
EV/EBIT (adj.) (24e)
30,05
EV/S (24e)
0,27
Direktavkastnings- % (24e)
5,32 %
Riktkurs
2.30 EUR
Rekommendation
Öka
Uppdaterad
25.10.2024
First North Finland
VINCIT
Dagens lägsta / högsta pris
1,88 / 1,945 EUR
Börsvärde
31,87 mn EUR
Omsatt (värde)
10,6 tn EUR
Omsatt (antal)
5,6 tn
Business risk
Valuation risk
Current
Previous

Analytiker

Joni Grönqvist
Joni Grönqvist
Analytiker

Senast publicerade videor

Vincit, Q2'24
2024-07-18
inderesPodcast: 2.En djupdykning i Helsingforsbörsens IT-tjänstesektor
2022-10-05
IT-konsultsektorn har fortsatt medvind
2022-05-31

Resultaträkning

20202021202220232024e2025e2026e2027e
Omsättning52,461,584,898,183,880,885,090,1
tillväxt-%8,7 %17,4 %37,9 %15,7 %−14,6 %−3,5 %5,2 %6,0 %
EBITDA8,26,53,62,00,93,64,66,6
EBIT (adj.)7,65,15,23,40,83,03,85,8
EBIT6,04,10,2−2,2−3,3−0,60,62,8
Vinst före skatt5,84,80,2−2,5−3,5−0,60,72,9
Nettoresultat4,43,5−0,3−2,9−3,7−1,2−0,11,7
EPS (adj.)0,500,400,320,160,020,140,190,28
tillväxt-%131,6 %−19,7 %−20,7 %−49,4 %−88,3 %665,3 %32,9 %49,5 %
Utdelning0,180,200,150,100,100,150,170,20
Utdelningskvot49,7 %70,4 %−893,7 %−57,8 %−44,9 %−202,9 %−5 249,2 %194,3 %

Lönsamhet och avkastning på kapital

20202021202220232024e2025e2026e2027e
EBITDA-%15,6 %10,5 %4,3 %2,0 %1,1 %4,5 %5,4 %7,3 %
EBIT-%14,5 %8,3 %6,1 %3,4 %0,9 %3,7 %4,5 %6,4 %
EBIT-%11,4 %6,7 %0,3 %−2,3 %−4,0 %−0,8 %0,7 %3,1 %
ROE19,0 %13,6 %−0,8 %−7,4 %−11,0 %−4,2 %−0,2 %6,9 %
ROI24,3 %15,4 %0,7 %−5,7 %−9,5 %−1,7 %2,8 %11,4 %

Värdering

20202021202220232024e2025e2026e2027e
Pris per aktie (EUR)7,188,024,163,231,881,881,881,88
Aktier12,112,216,516,616,616,616,616,6
Börsvärde86,798,168,753,531,131,131,131,1
Rörelsevärde77,089,558,541,422,622,422,220,7
EV/S1,51,50,70,40,30,30,30,2
EV/EBITDA9,413,916,221,225,76,24,93,1
EV/EBIT (adj.)10,217,511,312,330,07,55,83,6
EV/EBIT12,921,8248,9---36,07,5
P/E (just.)14,520,113,220,2100,613,19,96,6
P/E19,828,2-----18,3
P/B3,53,71,71,51,01,11,21,3
P/S1,71,60,80,50,40,40,40,3
Direktavkastning2,5 %2,5 %3,6 %3,1 %5,3 %8,0 %9,0 %10,6 %
Soliditet72,6 %70,2 %67,0 %63,4 %64,2 %62,7 %59,3 %54,2 %
Skuldsättning−38,3 %−31,6 %−24,5 %−33,4 %−27,5 %−31,3 %−35,1 %−43,2 %

Kvartalsuppgifter

Q4/232023Q1/24Q2/24Q3/24Q4/24e2024eQ1/25eQ2/25e
Omsättning45,398,123,021,718,420,683,820,820,5
EBITDA−0,42,00,8−0,80,90,00,90,51,0
EBIT−2,5−2,2−0,3−1,8−0,2−1,0−3,3−0,6−0,1
Vinst före skatt−2,6−2,5−0,2−1,8−0,4−1,0−3,5−0,6−0,1
Nettoresultat−2,6−2,9−0,4−1,8−0,5−1,0−3,7−0,6−0,3
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VisarAlla typer av innehåll
IT service sector: Market performance in Denmark and Norway better than in Finland and Sweden
Analytikerkommentar av
Frans-Mikael Rostedt, Joni Grönqvist

IT service sector: Market performance in Denmark and Norway better than in Finland and Sweden

In the rest of the Nordic countries, organic revenue development turned upwards and profitability was at a reasonably good level in Q2.

DigiaDigital WorkforceGoforeInnofactorLoihdeNetum GroupSiili SolutionsSolteqTietoevryVincitWitted MegacorpAvensiaBouvetB3 Consulting GroupColumbusCombinedXKnowitNetcompany GroupNNITProact IT GroupWebstep
IT services sector 2024 expectations fell slightly in Q2, but H2 looks a little better
Analytikerkommentar av
Joni Grönqvist, Frans-Mikael Rostedt

IT services sector 2024 expectations fell slightly in Q2, but H2 looks a little better

With the Q2 reports and subsequent earnings warnings, our revenue and profitability expectations have declined slightly. The expected strengthening of the general economic development in Finland and Europe and the interest rate cuts provide some light at the end of the tunnel and create the conditions for a gradually improving demand outlook also for the IT services sector next year.

DigiaDigital WorkforceGoforeInnofactorLoihdeNetum GroupSiili SolutionsSolteqTietoevryVincitWitted Megacorp

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IT services sector's 2024 expectations fell slightly in Q1 - revenue expected to remain flat and profitability to rise slightly
Analytikerkommentar av
Joni Grönqvist, Frans-Mikael Rostedt

IT services sector's 2024 expectations fell slightly in Q1 - revenue expected to remain flat and profitability to rise slightly

The strengthening of the general economic situation in Finland and Europe and the expected decline in interest rates provide some light at the end of the tunnel and, in our opinion, create the conditions for a gradually improving demand outlook also for the IT services sector next year.

DigiaDigital WorkforceInnofactorLoihdeNetum GroupSiili SolutionsSolteqTietoevryVincitWitted Megacorp
IT service sector Q1 summary: Revenue and profitability down from a strong comparison period, but some defensive wins in profitability as well
Analytikerkommentar av
Joni Grönqvist, Frans-Mikael Rostedt

IT service sector Q1 summary: Revenue and profitability down from a strong comparison period, but some defensive wins in profitability as well

The organic revenue development of the Finnish listed IT service companies took a downturn from a strong comparison period. At the same time, profitability declined from the good comparison period, although slightly less than expected, helped by cost savings.

GoforeDigital WorkforceDigiaInnofactorLoihdeNetum GroupSiili SolutionsSolteqTietoevryVincitWitted Megacorp
Analytikerkommentar av
Frans-Mikael Rostedt

IT service sector valuation levels at the bottom of our 7-year monitoring history, justifiably?

We examined the development of valuation levels in the IT service sector through the forward-looking EV/S ratio in 2017-2024. The valuation levels have hit the bottom of the review period. The uncertain short-term outlook and the rise in interest rates partly justify a lower valuation, but we feel the sector’s expected return is at an attractive level as a whole.

Digital WorkforceDigiaGoforeInnofactorLoihdeNetum GroupSiili SolutionsSolteqTietoevryVincitWitted Megacorp
Analytikerkommentar av
Joni Grönqvist, Frans-Mikael Rostedt

We expect the IT services sector to grow moderately and profitability to increase slightly in 2024

We expect the dual dynamics of the IT services market to continue next year and slow down growth. In our estimates, profitability in the sector improves slightly, driven by cost savings, but still stays below potential due to headwinds.

DigiaDigital WorkforceGoforeInnofactorLoihdeNetum GroupSiili SolutionsSolteqTietoevryVincitWitted Megacorp
Analytikerkommentar av
Joni Grönqvist, Frans-Mikael Rostedt

IT services sector Q3 summary: Better than feared with several areas continuing to perform well

Overall, the Q3 earnings season was stronger than our cautious expectations and the market continued to be mixed. Many areas are still performing well and in the weaker areas it seems that, at least temporarily, the bottom of demand has been touched. There are already some cautious comments on the better, but in our view it is still too early to draw larger and broader conclusions.

DigiaGoforeInnofactorLoihdeSiili SolutionsSolteqTietoevryVincitWitted Megacorp
IT service sector: Fast deceleration in figures in Q2 in Finland, better in other Nordic countries
Analytikerkommentar av
Joni Grönqvist, Frans-Mikael Rostedt

IT service sector: Fast deceleration in figures in Q2 in Finland, better in other Nordic countries

Uncertainty in customer demand was realized more widely in Q2, but development was even more mixed than before. Companies with a high weight of tailored software development and the private sector suffered more in relative terms. Reported figures included mainly negative surprises, which was also seen in the form of change negotiations and profit warnings. We predict that the duality will continue in 2023, but the demand outlook will remain more subdued as a whole in 2023 in the private sector, while public sector demand is expected to remain at a good level.

DigiaDigital WorkforceGoforeInnofactorLoihdeNetum GroupSiili SolutionsSolteqTietoevryVincitWitted MegacorpAvensiaAddnode GroupColumbusCombinedXExsitec HoldingKnowitNetcompany GroupNNITWebstepBouvet
Analytikerkommentar av
Juha Kinnunen, Frans-Mikael Rostedt

Case: Cost structures and profitability of expert companies

In this review, we examine the cost structures of Nasdaq Helsinki’s expert companies. The group clearly focuses on the IT service sector, but it also includes expert companies from accounting firms to engineers and legal services.

Aallon GroupDigiaEtteplanFondiaGoforeInnofactorLoihdeNetum GroupNixuSiili SolutionsSitowise GroupSolteqSolwersTalenomWitted MegacorpVincit