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
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            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 {
          date
          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
    }
  }
}


__typename

title

isPremium

lang

htmlBody

companies

createdAt

publishers

authors

reactionGroups

availableLanguages

pageUrl

imgUrl

description

Head of Research

Antti Viljakainen

Scanfil is an international electronics contract manufacturer specializing in industrial and B2B customers. Its service offering includes manufacturing of end-products and components such as PCBs. Manufacturing services are the core of the company supported by design, supply chain, and modernization services. It operates globally in Europe, the Americas, and Asia. Customers are mainly companies operating in process automation, energy efficiency, green transition, and medical segments.

Jag funderar igen.  Elektroniktillverkaren Scanfil väcker intresse bland investerare tack vare sin starka balansräkning och måttliga värdering. Trots att bolaget har lidit av svag efterfrågan och att kunderna minskat sina lager, förblev dess lönsamhet stark i Q3-resultatet, trots en minskning i omsättningen. Detta visar Scanfils förmåga att kontrollera kostnader och anpassa sig till en utmanande marknadsmiljö. Värderingsmultiplarna (P/E 12x, EV/EBIT 9,5x för 2024) är attraktiva, och bolagets verksamhet är relativt defensiv, även om kundbasen tillför en viss cyklikalitet. Förvärvet av SRX bidrar till icke-organisk tillväxt, och på lång sikt kan fallande räntor samt en ekonomisk återhämtning stärka efterfrågan på investeringsdrivna produkter. En utdelning på cirka 3,4 procent ökar också bolagets attraktionskraft. Scanfil behöver dock öka volymerna för att säkerställa sin resultatutveckling. Investerare måste ha tålamod, men till nuvarande kurs erbjuder bolaget en lockande kombination av stabil avkastning och långsiktig tillväxtpotential.

Pia intervjuade analytikern Antti Viljakainen om Scanfil. Scanfil’s revenue fell significantly below our forecast. Given the sluggish figures in Q3, the bar for Q4 is already very high. The company expects Q4 to be the strongest quarter of the year, but we cannot exclude the risk of a second profit warning before the end of 2024. Head of Research Antti Viljakainen summarizes.                   Inderes              Scanfil Q3’24: Both good and bad - Inderes    Time: 2024-11-11 10:05 Scanfil’s revenue fell significantly below our forecast. Given the sluggish figures in Q3, the bar for Q4 is already very high. The company expects Q4 to be the strongest quarter of the year, but we cannot exclude the risk of a...                             00:00 Intro  00:24 Revenue development  01:50 Guidance  03:54 Risk of profit warning  04:28 Market conditions  06:16 Valuation & recommendation

Inderes bedömer att Scanfil Q3-rapport, som publicerades förra fredagen, var något negativ i sin helhet, och bolaget sänkte sina prognoser något på kort sikt. Som ett resultat av detta justerade Inderes Scanfil riktkurs till 8,70 euro från tidigare 9,00 euro och behöll rekommendationen Öka. Enligt Inderes är aktiens värdering måttlig (2024e: P/E 13x, EV/EBIT 10x), vilket gör att bolagets attraktiva långsiktiga investeringshistoria är tillgänglig med en rimlig kortsiktig förväntad avkastning på nuvarande prisnivåer. På grund av risken för en vinstvarning i slutet av året skulle ytterligare köp dock kräva åtminstone ett medellångt tidsperspektiv för investeraren.                   Inderes              Scanfil Q3'24: Outlook contained both good and bad - Inderes    In our view, the overall picture of Scanfil's Q3 report published last Friday was slightly negative and we lowered our forecasts slightly for the near term.

Jag förväntar mig inte mycket från det här kvartalet, men jag litar på företaget, särskilt på längre sikt.                    Inderes              Scanfil Q3'24 preview: Decline in revenue has weighed on earnings performance ...    Scanfil will publish its Q3 report on Friday at around 8:00 am EET. We expect Scanfil's Q3 results to be weaker than the fairly strong comparison figures due to a decline in revenue.                             Scanfil will publish its Q3 report on Friday at around 8:00 am EET. We expect Scanfil’s Q3 results to be weaker than the fairly strong comparison figures due to a decline in revenue. Scanfil’s guidance has held so far, despite the recent weak news flow from the industrial and contract manufacturing sector (including earnings warnings from Noten and Kitron). In principle, we do not expect Scanfil to adjust its guidance in connection with the result. We do not change our view on the moderately valued Scanfil (2024e: EV/EBIT 9x) before the Q3 report.

Här är en kvalitativ analys av ett företag som jag gillar… och som jag äger.  We reiterate our Accumulate recommendation and EUR 9.00 target price for Scanfil. We have included the SRX acquisition announced last week in our forecasts, but the forecast changes were diluted by market-related reasons. At the group level, the near-term changes to the estimates were relatively minor. Scanfil is still very moderately priced in our view (2025e P/E 11x). We believe the stock offers a good expected return at current valuation levels, especially for medium-term investors, despite the clear near-term market risks.                   Inderes              Scanfil: Boost from acquisition diluted by market conditions - Inderes    We have included the SRX acquisition announced last week in our forecasts, but the forecast changes were diluted by market-related reasons.

Scanfil expanderar till Asien och Stillahavsregionen genom ett företagsförvärv.                   Inderes              Scanfil: Company expands in Asia-Pacific with acquisition - Inderes    Scanfil has acquired SRX, an electronics manufacturer based in Australia and Malaysia, for a purchase price of 23 MEUR. This is a minor acquisition for Scanfil, and it can be financed from the company's cash resources.

Pia intervjuade analytikern Antti Viljakainen om detta kvalitetsbolag.                    Inderes              Scanfil: Profit warning risk still exists - Inderes    Time: 2024-10-04 10:27 Analyst Antti Viljakainen visited Scanfil's factory in Malmö, Sweden. In this interview, we hear more about the visit and Invisio who is an ideal customer for Scanfil. The upcoming reorganization and possible risk of another...                             00:00 Intro  00:11 Factory visit & Invisio  01:59 Is Invisio a typical customer?  03:02 Restructuring of organization  04:31 Profit warnings on the market  06:46 Valuation & recommendation

Scanfil

Scanfil’s share price has fallen by 20% since the earnings release at the beginning of August without any major company-specific news. However, industrial data from Europe and globally has been subdued. Thus, the downward risks have also increased slightly for Scanfil, but with the drop in valuation due to the clear share price decline, we feel the expected return has improved and risen above the required return. 

<p>Scanfil’s share price has fallen by 20% since the earnings release at the beginning of August without any major company-specific news. However, industrial data from Europe and globally has been subdued. Thus, the downward risks have also increased slightly for Scanfil (we have not made any forecast changes), but with the drop in valuation due to the clear share price decline (2023: P/E 12x), we feel the expected return has improved and risen above the required return. In our view, Scanfil also offers a strong investment story of profitable growth in the longer term. </p> 

	2022	23e	24e
Revenue	843.8	937.0	935.0
growth-%	21.29 %	11.05 %	-0.21 %
EBIT (adj.)	45.4	66.1	66.0
EBIT-% (adj.)	5.38 %	7.05 %	7.06 %
EPS (adj.)	0.54	0.78	0.77
Dividend	0.21	0.23	0.25
Dividend %	3.19 %	3.08 %	3.35 %
P/E (adj.)	12.11	9.53	9.72
EV/EBITDA	8.10	6.40	5.75

Scanfil: Price level is attractive again

Scanfil

Key Estimate Figures2023-09-13

Scanfil

Key Estimate Figures2023-09-13

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