Biohit: Positive result from H1 test
We reiterate our Accumulate recommendation for Biohit and raise our target price to EUR 2.4 (previous 2.1). The H1 report exceeded our expectations in terms of both revenue and earnings. The launch of the GastroPanel® fingertip blood test, during H1 and the partial periodization of China's revenue to H2 strengthen our growth expectations for the near future. The valuation picture remains attractive with estimate hikes.
Biohit
Biohit is a medical technology company. The company develops and manufactures laboratory equipment, supplies, and diagnostic analysis systems adapted for research, care, and industrial laboratories. In addition to the main activities, technical support, maintenance, and training services are offered within the mentioned work area. The largest presence is in the Nordic market. The company is headquartered in Helsinki.
Read more on company pageKey Estimate Figures2023-08-10
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 11.0 | 12.4 | 13.6 |
growth-% | 16.99 % | 13.23 % | 9.90 % |
EBIT (adj.) | 1.1 | 1.9 | 2.2 |
EBIT-% (adj.) | 10.30 % | 15.36 % | 15.95 % |
EPS (adj.) | 0.04 | 0.11 | 0.13 |
Dividend | 0.00 | 0.00 | 0.05 |
Dividend % | 2.17 % | ||
P/E (adj.) | 39.30 | 21.66 | 17.61 |
EV/EBITDA | 11.40 | 12.11 | 10.31 |