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 CompanyTagList on Company {
  pageUrl
  name
  viewerIsFollowing
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    ...CompanyTagList
    id
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  availableLanguages
  pageUrl
  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
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      defaultInstrument {
        isin
        id
      }
      id
    }
    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
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            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
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            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

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


admicom-value-creation-digitizing-construction-industry

__typename

title

isPremium

lang

htmlBody

companies

createdAt

publishers

authors

reactionGroups

availableLanguages

pageUrl

imgUrl

description

Analyst

Atte Riikola

Admicom operates in the IT sector. The company is a developer of cloud-based services that mainly concern administration, accounting, payroll management, and project management. In addition to the main business, training and customer support are offered. The customers are found among small and medium-sized corporate customers, with the largest operations in construction and industry. The head office is located in Jyväskylä.

Analytiker Atte Riikola har gjort en artikel om Admicom  “In the Value Creators”-konceptet.  Det är definitivt värt att läsa.                    Inderes              Value Creators: Admicom - Inderes    In the Value Creators concept, we highlight companies that have created substantial shareholder value. In this report we focus on Admicom, a Finnish a construction software provider operating with a SaaS model.

The company sells products particularly to companies in the construction sector, and the company sees that the outlook for the sector is improving. Overall, the results were generally quite expected. Below is Admicom’s Q3 result.                    Admicom sijoittajille              Releases and reports | Admicom Oyj: Investors    You can find our published releases in the 'Releases and reports' section of our website.         Est. reading time: 1 minute

Jag satte mid ned med @Atte_Riikola och tog ett längre snack om Admicom baserande på omfattande analysen som vi gav ut i slutet av juni                  Inderes              Admicom: Solid long-term holding - Inderes    Time: 2024-08-07 12:38 We published an extensive report on Admicom in late June. Analyst Atte Riikola explains who Admicom is, what they do and why the stock is a solid long-term holding for investors.

Mina tankar, baserade på Inderes analyser.  Admicom som investeringsobjekt (sammanfattning) Positiva:  Omsättningen överträffade förväntningarna under Q2. Lönsamheten förblev stark (EBITA-marginal 38%). Den årliga återkommande omsättningen (ARR) ökade med 6,7%. Nyförsäljningen har utvecklats väl, särskilt inom projektledningslösningar. Starkt kassaflöde (fritt kassaflöde på 5,6 miljoner EUR under H1). Förtroendet för framtida tillväxt stärktes. Värderingen är rimlig i förhållande till den förväntade tillväxtpotentialen under de kommande åren.  Att beakta:  Utjämningsfakturering har pressat ner omsättningen. Tillväxten förväntas inte accelerera förrän nästa år. 2024 förväntas bli det svagaste resultatet.  Inderes rekommendation: Öka rekommendation, målkurs 55,0 euro (tidigare 52,0 euro).

Här finns cirka 50 sidor om ett intressant företag som det diskuteras mycket om åtminstone i Finland.   Texten är lättläst och analytisk.  We reiterate our Accumulate recommendation and target price of EUR 52.0 for Admicom, a specialist in construction software. Admicom’s share price, and thus its valuation, has rebounded significantly from its lows in the fall of 2023, when concerns about the impact of a weak construction cycle on the company were at their highest. Since then, the company has demonstrated its ability to grow organically also in this market while delivering good earnings and cash flow. Going forward, earnings growth will be a more prominent driver of expected returns, although there may still be room for valuation multiples to rise as growth picks up.                   Inderes              Admicom extensive report: Ready to accelerate growth when market picks up -...    Admicom's share price, and thus its valuation, has rebounded significantly from its lows in the fall of 2023, when concerns about the impact of a weak construction cycle on the company were at their highest. Since then, the company has demonstrated...

Inderes gav Admicom en öka-rekommendation och en målkurs på 52,0 euro. Aktien har återhämtat sig från bottennivåerna hösten 2023, då oron över den svaga byggkonjunkturens påverkan var som störst. Admicom har visat sin förmåga att växa organiskt och generera goda resultat samt kassaflöde. Företagets Ultima ERP-system och bokföringstjänster är riktade mot små och medelstora företag, och företagsförvärv har utökat erbjudandet. Admicom har över 3000 kunder, vilket erbjuder potential för merförsäljning och korsförsäljning. Admicoms omsättning har ökat i genomsnitt med 29 % under åren 2015-2022, och EBITA-marginalen var 37 % förra året. De senaste åren har tillväxten avtagit på grund av marknadsläget och organisationsförändringar, men stora investeringar har gjorts, och i framtiden förväntas tillväxten återigen förstärkas. Med internationalisering kan marknadspotentialen mångdubblas. Digitaliseringen inom byggsektorn erbjuder enorma tillväxtmöjligheter. Admicoms EV/EBIT-multipel för 2024 är 19x, men den förväntas sjunka till attraktiva nivåer under åren 2026-2027. En stark kassaflödesprofil och goda långsiktiga tillväxtmöjligheter stödjer höga värderingsmultiplar.

Here is an interesting Twitter thread about Admicom.             twitter.com             Invest In Assets | Stock Market Investing 📈 @InvestInAssets     Admicom is an interesting small-cap SaaS business from Finland 💎  The business has been compounding at high growth rates since 2015 and is highly profitable 📊  Management owns significant stakes in the company and the founder is still involved 🧠  Let's take a look 👇      11:04 AM - 25 Dec 2023                                    190                                         17                                            twitter.com             Invest In Assets | Stock Market Investing 📈 @InvestInAssets                      The Business  Admicom has been a growth story over the past decade, growing rapidly with impressive margins.   Admicom has a scalable and profitable business model and is well-positioned in the construction SME and microcap niche in Finland.      11:04 AM - 25 Dec 2023                                    7                                             twitter.com             Invest In Assets | Stock Market Investing 📈 @InvestInAssets                      The Stock   The stock has been on a significant pullback from its 2021 top levels as growth has slowed due to a slowdown in the Nordic construction market.  Regardless, the stock is up ~350% since its IPO, a 29.3% CAGR.      11:04 AM - 25 Dec 2023                                    5                                             twitter.com             Invest In Assets | Stock Market Investing 📈 @InvestInAssets                      The Growth  CAGR since 2015:   Revenues: +30% Gross profits: +31.43% Net income: +36.81%  The growth has stagnated in recent years mostly due to a soft construction market with high bankruptcy rates.      11:04 AM - 25 Dec 2023                                    7                                             twitter.com             Invest In Assets | Stock Market Investing 📈 @InvestInAssets                      High returns on capital & impressive margins   Gross Margin: +57 Operating Margin: +37.6% FCF Margin: +32.3% ROCE: +34.2% ROE: +26.7%      11:04 AM - 25 Dec 2023                                    7                                             twitter.com             Invest In Assets | Stock Market Investing 📈 @InvestInAssets                      Insider ownership  Insider's significant stakes in the business and several key members of the management team have been added in 2023.      11:04 AM - 25 Dec 2023                                    7

Admicom

Admicom has already had a very strong decade of profitable growth in Finland and the updated strategy seeks the next growth leap by digitizing the European construction industry.

<p>Admicom has already had a very strong decade of profitable growth in Finland and the updated strategy seeks the next growth leap by digitizing the European construction industry. The valuation of the share already looks moderate with our estimates that are clearly more cautious than the company’s objectives considering Admicom’s interesting investment profile and there is potential for clearly better performance in the long term. The biggest question mark in terms of objectives is still the success of internationalization, but there is also plenty of growth opportunities left in Finland. </p> 

	2022	23e	24e
Revenue	31.6	33.3	35.4
growth-%	27.19 %	5.33 %	6.35 %
EBIT (adj.)	13.7	12.4	13.6
EBIT-% (adj.)	43.44 %	37.26 %	38.27 %
EPS (adj.)	2.19	1.98	2.15
Dividend	1.30	1.20	1.30
Dividend %	2.80 %	2.48 %	2.69 %
P/E (adj.)	21.27	24.43	22.52
EV/EBITDA	16.25	18.78	16.82

Admicom: Value creation by digitizing the construction industry

Admicom

Key Estimate Figures2023-03-16

Admicom

Key Estimate Figures2023-03-16

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