Puuilo

9.13 EUR

+2.13 %

PUUILO

NASDAQ Helsinki

Retailers

Consumer Goods & Services

6,564 following

+2.13%

+0.94%

-4.65%

-8.79%

-13.71%

+2.3%

+11.55%

+14.24%

+25.76%

www.investors.puuilo.fi

Puuilo operates in the retail industry. The company operates and manages a number of stores and trading venues. The range is wide and includes items within domestic and pet animals that are forwarded under own or other brands. The customers mainly consist of private actors worldwide, and the largest presence is in Finland.

P/E (adj.) (24e)

EV/EBIT (adj.) (24e)

14.05

P/B (24e)

7.87

Dividend yield-% (24e)

4.71 %

Target price

11.00 EUR

Recommendation

Accumulate

Updated

13.9.2024

NASDAQ Helsinki

PUUILO

Daily low / high price

8.9 / 9.18 EUR

Market cap

774.01M EUR

Turnover

591.48K EUR

Volume

65K

Business risk

Valuation risk

Current

Latest research

Puuilo Q2'24: Growth on all fronts

2024-09-13

Puuilo Q1'24: An exemplary performance in an unstable market

2024-06-13

Growth continues by capturing domestic market share

2024-04-24

Analyst

Arttu Heikura

Analyst

Latest videos

Puuilo Q2/24: Growth continued in a rough market

2024-09-20

Puuilo, Q2'24

2024-09-12

Puuilo: Store network expanding

2024-07-05

Financial calendar

Business review

2024-12-11

Annual report

2025-03-17

General meeting

2025-05-15

Business review

2025-06-10

Interim report

2025-09-11

Forum updates

Stay up-to-date with the latest talk about Puuilo

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Hi all, We initiated the translations of Puuilo, a finnish discount retailer. Latest report can be found here. Puuilo Is a discount retailer that focuses on DIY and renovation supply The concept is simple and somewhat unique in Finland and it’s working well. Is one of the most profitable discount retailers inside Europe High gross margin (36%) Low fixed costs (20% of sales) Has strong track record of growth and the growth prospectives are yet good inside Finland Has around 40 stores now and is targeting over 60 stores inside Finland Very strong cashflow profile and asset light business model à 80 % payout ratio Option for acquisitions It’s store expansion model is efficient (black figures are achieved after first month from opening) and young stores will grow over 10 years Valuation: currently elevated but over time the earnings growth and dividend yield will offset the high valuation Puuilo will arrange an investor day on April 23rd, in which it will introduce updated strategy and ways to continue growth even after the network of over 60 stores. Link to webcast: Invitation to the Puuilo Plc’s Investor Day on April 23, 2024 - Inderes.

Arttu Heikura

4/12/2024, 10:05 AM💙 4

Puuilo will report its Q2 results on Thursday September 12 at 8:30 am EEST. Although the retail trade has seen a slowdown recently, we believe the company was one of the market winners, as in previous quarters. Inderes Puuilo Q2'24 preview: Market share gains continue - Inderes Puuilo will report its Q2 results on Thursday September 12 at 8:30 am EEST. Although the retail trade has seen a slowdown recently, we believe the company was one of the market winners, as in previous quarters.

Jesper Hagman

9/10/2024, 6:50 AM💙 2

Vi gjorde även en video om Puuilos updaterade strategi Inderes Puuilo: Store network expanding - Inderes Time: 2024-07-05 12:13 We took a field trip to a Puuilo store in Helsinki. Puuilo issued a strategy update in April. In the video analyst Arttu Heikura comments, e.g., on the main takeaways of the new strategy, private labels, and the cost structure.

Pia Maljanen

7/5/2024, 10:25 AM💙 2

Analytikern Arttu Heikura har gjort en ny analys av Puuilosta. Puuilo released a Q2 report that was quite in line with expectations. Strong revenue growth was driven by both new store openings and growth in existing stores. Profitability rose to near the historic highs of the COVID era due to favorable sales mix and successful cost control. The company revised the high end of its guidance range downward as a result of what we interpreted as a challenging outlook for the rest of the year, leading us to slightly lower our near-term forecasts. The expected total return on the stock looks attractive to us, even if the near-term valuation is somewhat stretched. We reiterate our Accumulate recommendation on the basis of a favorable risk/reward ratio but lower our price target to EUR 11.0 (was EUR 11.5) following the forecast changes. Inderes Puuilo Q2'24: Growth on all fronts - Inderes Puuilo released a Q2 report that was quite in line with expectations. Strong revenue growth was driven by both new store openings and growth in existing stores. Profitability rose to near the historic highs of the COVID era due to favorable sales mix...

börsen84

9/13/2024, 9:04 PM💙 1

Till alla som aldrig besökt en Puuiloaffär : Kolla in klippen från vår lynchningsutflykt i somras Äntligen #PUUILO utflykt! Häng med på lynchning!#investing #finanstwitter (youtube.com) #PUUILO Private label products = high margins! #investing #shorts #stocks (youtube.com) #PUUILO: historically one of the most profitable retailers in Europe: What is the secret? #stocks (youtube.com) #Puuilo: No loyalty program, not forcing customer to move through the physical stores! #stocks (youtube.com)

Isa Hudd

8/15/2024, 11:14 AM💙 1

@Isa_Hudd ja @arttu.heikura pratade om Puuilo, det är värt att lyssna på. I Finland är man ganska intresserad av detta företag. Inderes PUUILO Q1: Exemplary performance - Inderes Time: 2024-07-04 11:18 Puuilo’s Q1 left no doubts: strong growth in customer numbers, combined with high profitability, with an expected improvement in gross-margin. Analyst Arttu Heikura summarizes. Content: 00:00 Intro 00:15 Typical location for a Puuilo store 00:39 Q1 highlights 01:15 Profitability 02:01 Valuation

börsen84

7/4/2024, 6:57 PM💙 1

Här är en färsk och bra analys av Puuilo Puuilo’s Q1 report was strong as usual, driven by strong growth in customer numbers. Although the market environment remains unstable, the company has demonstrated its ability to grab market shares through a distinctive concept and cheap price image. Our growth forecasts for the next few years are driven by several annual store openings toward the target of 70 and sales growth in existing stores. The near-term valuation of the stock remains slightly elevated, but we believe this is justified by the strong earnings growth profile and high return on capital. We reiterate our Accumulate recommendation and raise our target price to EUR 11.5 (was 11), boosted by positive forecast changes. Inderes Puuilo Q1'24: An exemplary performance in an unstable market - Inderes Puuilo’s Q1 report was strong as usual, driven by strong growth in customer numbers. Although the market environment remains unstable, the company has demonstrated its ability to grab market shares through a distinctive concept and cheap price image.

börsen84

6/14/2024, 9:08 PM💙 1

Income statement

	2020	2021	2022	2023	2024e	2025e	2026e	2027e
Revenue	238.7	270.2	296.4	338.5	388.9	431.8	481.6	536.3
growth-%	40.0 %	13.2 %	9.7 %	14.2 %	14.9 %	11.0 %	11.5 %	11.4 %
EBITDA	41.5	55.9	60.5	67.8	80.5	95.0	107.1	118.4
EBIT (adj.)	41.7	47.4	47.6	52.8	62.1	72.6	82.2	92.3
EBIT	41.5	44.4	47.0	52.8	62.1	72.6	82.2	92.3
Profit before taxes	36.0	40.0	43.9	48.4	56.9	67.6	76.9	86.7
Net income	28.8	31.9	35.1	38.7	45.5	54.4	61.5	69.4
EPS (adj.)	0.36	0.41	0.42	0.46	0.54	0.64	0.73	0.82
growth-%	86.8 %	13.7 %	2.4 %	8.4 %	17.7 %	19.5 %	13.0 %	12.8 %
Dividend	0.00	0.30	0.34	0.38	0.43	0.51	0.58	0.65
Dividend ratio		80.0 %	82.9 %	83.3 %	80.0 %	80.0 %	80.0 %	80.0 %

Profitability and return on capital

	2020	2021	2022	2023	2024e	2025e	2026e	2027e
EBITDA-%	17.4 %	20.7 %	20.4 %	20.0 %	20.7 %	22.0 %	22.2 %	22.1 %
EBIT-% (adj.)	17.5 %	17.5 %	16.1 %	15.6 %	16.0 %	16.8 %	17.1 %	17.2 %
EBIT-%	17.4 %	16.5 %	15.9 %	15.6 %	16.0 %	16.8 %	17.1 %	17.2 %
ROE	155.0 %	85.5 %	48.8 %	48.0 %	49.7 %	50.7 %	49.1 %	48.1 %
ROI	30.5 %	27.6 %	24.6 %	25.9 %	28.2 %	29.7 %	30.3 %	30.7 %

Valuation

	2020	2021	2022	2023	2024e	2025e	2026e	2027e
Share price (EUR)		7.99	6.32	9.26	9.13	9.13	9.13	9.13
Shares	80.2	84.8	84.8	84.8	84.8	84.8	84.8	84.8
Market cap		677.4	535.8	785.0	774.0	774.0	774.0	774.0
Enterprise value		775.0	630.3	886.3	872.7	862.4	861.3	860.8
EV/S	-	2.9	2.1	2.6	2.2	2.0	1.8	1.6
EV/EBITDA	-	13.9	10.4	13.1	10.8	9.1	8.0	7.3
EV/EBIT (adj.)	-	16.4	13.2	16.8	14.1	11.9	10.5	9.3
EV/EBIT	-	17.4	13.4	16.8	14.1	11.9	10.5	9.3
P/E (adj.)	-	19.4	15.0	20.3	17.0	14.2	12.6	11.2
P/E	-	21.2	15.3	20.3	17.0	14.2	12.6	11.2
P/B	-	10.0	7.0	9.2	7.9	6.7	5.8	5.0
P/S	-	2.5	1.8	2.3	2.0	1.8	1.6	1.4
Dividend yield		3.8 %	5.4 %	4.1 %	4.7 %	5.6 %	6.4 %	7.2 %
Equity ratio	4.0 %	31.6 %	32.9 %	34.2 %	35.3 %	37.6 %	39.1 %	40.6 %
Gearing ratio	1,762.5 %	144.0 %	124.0 %	119.2 %	100.4 %	76.0 %	65.0 %	56.2 %

Quarter data

	Q3/23	Q4/23	2023	Q1/24	Q2/24	Q3/24e	Q4/24e	2024e
Revenue	92.3	76.8	338.5	75.4	119.9	103.4	90.1	388.9
EBITDA	18.7	14.3	67.8	12.4	29.0	21.5	17.7	80.5
EBIT	15.0	10.3	52.8	7.6	24.4	17.0	13.1	62.1
Profit before taxes	14.0	9.1	48.4	6.3	23.1	15.7	11.8	56.9
Net income	11.2	7.3	38.7	5.0	18.5	12.6	9.4	45.5

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Regulatory press release10/4/2024, 5:45 AM

Puuilo

9.13

EUR

+2.13 %

Latest research

Analyst

Latest videos

Financial calendar

Forum updates

Income statement

Profitability and return on capital

Valuation

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