Enento Group: Uncertainty in the air
Enento 's Q4 figures fell slightly short of our forecasts as the headwind from the operating environment was stronger than we suspected. To our disappointment, the company did not provide guidance for 2024, especially due to the low visibility in the Swedish business. After our forecast cuts, the valuation for 2024 is rather neutral due to short-term challenges (adj. P/E 18x and EV/EBIT 13x). Looking one year ahead, the situation looks brighter, when the valuation (adj. P/E 13x and EV/EBIT 11.6x) is already at an attractive level, which is why we still consider the share’s risk/return ratio good.
Enento Group
Enento operates in the IT sector. Within the Group, there is specialist competence in the development of digital information services that concern risk management, decision-making, sales, and marketing. The vision is to offer programs and digital platforms that can also be used for the analysis of company data, routines, and decision-making processes. The company was previously known as Asiakastieto and is headquartered in Helsinki.
Read more on company pageKey Estimate Figures12/02
2023 | 24e | 25e | |
---|---|---|---|
Revenue | 155.9 | 155.8 | 164.1 |
growth-% | -6.94 % | -0.10 % | 5.34 % |
EBIT (adj.) | 46.0 | 45.0 | 49.6 |
EBIT-% (adj.) | 29.53 % | 28.91 % | 30.22 % |
EPS (adj.) | 1.05 | 1.00 | 1.36 |
Dividend | 1.00 | 1.00 | 1.05 |
Dividend % | 5.13 % | 5.59 % | 5.87 % |
P/E (adj.) | 18.50 | 17.95 | 13.17 |
EV/EBITDA | 12.05 | 10.43 | 9.26 |