Koskisen: Favorable wave in the Panel industry carries further
Koskisen's Q1 report was strong compared to our expectations and we expect the Panel industry that continues in a very tight market to maintain Group figures at good levels for longer than previously anticipated. Especially on EV basis the valuation is moderate but in the prevailing situation the acceptable valuation is low and we feel the share is lacking clear upside drivers.
Koskisen
Koskisen is active in the forest industry. The company specializes in the manufacture and distribution of industrial wood products. The company's product portfolio is broad and mainly includes wood products such as sawn wood, plywood, chipboard, and veneer. The business is run via various business segments and the customers can be found in a number of industries around the global market. The largest presence is found in Finland. The company was founded in 1909 and has its headquarters in Järvelä, Finland.
Read more on company pageKey Estimate Figures2023-05-24
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 317.7 | 296.2 | 301.0 |
growth-% | 2.06 % | -6.77 % | 1.63 % |
EBIT (adj.) | 58.5 | 32.6 | 21.5 |
EBIT-% (adj.) | 18.42 % | 11.01 % | 7.13 % |
EPS (adj.) | 1.74 | 1.07 | 0.66 |
Dividend | 0.43 | 0.32 | 0.25 |
Dividend % | 6.92 % | 4.44 % | 3.47 % |
P/E (adj.) | 3.60 | 6.72 | 10.93 |
EV/EBITDA | 1.75 | 3.37 | 4.26 |