LapWall: Seeds of growth were sown
We included the expected investment decision that LapWall sealed last week for the Pyhäntä unit in our forecasts. We expect it to create value for shareholders as profitable growth but expect the benefits to be clearly visible in the figures only from 2027 onwards. In the shorter term, we believe the stock will be driven by the development of the Finnish construction cycle in particular and the company’s earnings outlook for 2024-2025, which depends on it.
LapWall
LapWall operates in the building products industry and has three factories. The company manufactures wooden wall and ceiling elements in factory conditions for construction companies. The product selection includes numerous standard products that the customer receives delivered and installed. The company's market area is Finland. LapWall was founded in 2011 and its head office is located in Pyhäntä.
Read more on company pageKey Estimate Figures14/03
2023 | 24e | 25e | |
---|---|---|---|
Revenue | 41.9 | 45.2 | 53.8 |
growth-% | -20.25 % | 7.89 % | 19.03 % |
EBIT (adj.) | 3.9 | 4.7 | 6.9 |
EBIT-% (adj.) | 9.36 % | 10.51 % | 12.76 % |
EPS (adj.) | 0.22 | 0.25 | 0.36 |
Dividend | 0.13 | 0.13 | 0.15 |
Dividend % | 4.18 % | 3.54 % | 4.09 % |
P/E (adj.) | 14.16 | 14.56 | 10.33 |
EV/EBITDA | 8.26 | 9.03 | 6.75 |