contentSlug

type

ContentSlug_ContentQuery

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ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
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) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
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}

fragment CompanyTagList on Company {
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}

fragment ContentBasicInfo on Content {
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  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
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  title
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  pageUrl
  alternatePageUrls {
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    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
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  ... on Webcast {
    liveTime
    videoUrl
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}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
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    type
    title
    isPremium
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    htmlBody
    companies {
      forum {
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      defaultInstrument {
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      id
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    ... on CompanyReport {
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    ... on ThirdPartyCompanyReport {
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    ... on StockExchangeRelease {
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    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
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  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
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  author
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}

fragment KeyFigures_Content on Content {
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}

fragment PriceAndRecommendation_Content on Content {
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    id
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    viewerIsFollowing
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        transaction {
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        prevTransaction {
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      id
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}

fragment PublishingDetails on Content {
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  publishers {
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  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
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  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
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}

fragment Reactions on Content {
  __isContent: __typename
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    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
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  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
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    authors {
      __typename
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    publishers {
      imgUrl
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  }
}


tokmanni-dollarstore-improves-earnings-growth-outlook

__typename

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Analyst

Olli Vilppo

Tokmanni Group is a variety discount retailer in the Nordics. The group has stores in Finland, Sweden and Denmark under the brand names Tokmanni, Dollarstore, Big Dollar, Click Shoes and Miny. In addition, Tokmanni has online stores. Tokmanni's headquarter and logistics centres are located in Mäntsälä, Finland. Dollarstore is headquartered in Kista, Stockholm with a central warehouse in Örebro. The group own a procurement company located in Shanghai together with a Norwegian discount store chain Europris.

Rusta:s resultat kan vara av intresse för Tokmannis ägare. Här är analytikerns kommentarer: Nordic discount retailer Rusta reported Q2’25 (August-October) sales broadly in line with expectations. However, earnings landed below expectations, possibly due to negative currency movements. Tokmanni, which we cover, appears to have outperformed the market in Q3, which we believe is a positive factor in overcoming the company’s early year hiccups.                   Inderes              Tokmanni competitor Rusta developed in line with the market - Inderes    Tokmanni, which we cover, appears to have outperformed the market in Q3.

Lite reflektioner kring Tokmanni baserat på vad jag läst.  På den positiva sidan finns möjligheter till tillväxt i omsättning och marginaler, särskilt genom högmarginalprodukter som kläder och egna varumärken. Även en återhämtning i konsumentförtroendet eller bättre än förväntade synergier från förvärvet av Dollarstore kan stödja utvecklingen. På risksidan kan utmaningar komma från prispress för att försvara marknadsandelar, väderförhållandens påverkan på sortimentet och konsumenters övergång till specialiserade lågprisbutiker. Dessutom kan den allmänna ekonomiska utvecklingen och svårigheter med integrationen av Dollarstore påverka resultatet negativt. Expansion ökar också de operativa riskerna.

Tokmannis resultat för Q3 överträffade förväntningarna och stärkte vår tro på en vändning i resultattillväxten fram till 2025. Det ökade konsumentförtroendet syntes i ökad kundtrafik i butikerna, vilket enligt Inderes skapar en stark grund för en framgångsrik julhandel och framtida tillväxt. Här är en bra analys av bolaget.                   Inderes              Tokmanni Q3'24: Confidence in earnings turnaround strengthened - Inderes    Tokmanni's Q3 results exceeded expectations and reinforced our confidence in the 2025 earnings growth turnaround. Increased consumer confidence was reflected in higher footfall in the Group's stores, which we believe sets the stage for a successful...

Här ännu kommentarer angående hur den nu i höst höjda mervärdesskatten påverkar Tokmanni + att vi trots det “motiga helhetsläget”  anser aktien vara köpvärd. Att momsen höjs är en diksussion i sig (och detta ej ett politiskt forum, men kan inte annat än sucka)… och måste tydligen skriva detta. Alla M&A’s tar sin tid, men kan inte hjälpa att undra, om detta ser ut att vara lite krångligt, dvs Dollarstore? Om jag inte missminner mig var det inte så mkt gnissel gällande Click shoes delen? Eller, correct me if I’m wrong… Att segmentet “billighetsbodar med brett sortiment” är på stor frammarsch har knappast undgått någon… men i ngt skede kommer säkert ytterligare konsolideringar att ske, kunde man anta… Eller? (Detta nu mest Isa som drar ur hatten). Men om man fortsätter på Tokmanni-Dollarstore, Europris-Ö&B, Puuilo - Hurrikaani linjen är detta inte otänkbart. Var passar Biltema, Motonet, Jula, Classe, Normal osv in i bilden? En personlig favorit i M&A pusslet är: när köps Halpa-Halli upp av någon av dessa? (Puuilo kunde vara en kandidat…) @Lillen och @Dividendseglaren : hur tänker ni? Äger ni? Vem är den vinnande hästen i billigbodsracet?

Inderes’ Arttu Heikura and Isa Hudd discussed the company’s Q2 results and its future prospects.    Content: 00:00 Intro  00:11 Soft Q2  01:18 Lack of organic growth  01:36 Dollarstore assortment  03:11 Dollatstore integration  04:02 Margins  05:02 Valuation  06:21 Recommendation

Här är en färsk analys av Tokmanni.  Tokmanni’s Q2 result was soft in many respects, as indicated by the profit warning issued by the company in July. During the quarter, the company faced challenges in each of its markets, resulting in a decline in like-for-like sales. This, together with cost pressures, resulted in the Group’s profitability being lower than in the comparison period. The recently revised guidance was naturally repeated and the company’s outlook for the rest of the year looks challenging to us. We consider the valuation of the stock to be quite moderate and believe that the stock offers investors a sufficiently attractive risk/reward ratio to compensate for the market uncertainties. We reiterate our Accumulate recommendation and EUR 13.0 target price.                   Inderes              Tokmanni Q2'24: Earnings potential to be proven in 2025-26 - Inderes    Tokmanni's Q2 result was soft in many respects, as indicated by the profit warning issued by the company in July. During the quarter, the company faced challenges in each of its markets, resulting in a decline in like-for-like sales.

Analyst Heikura’s Comment on Tokmanni’s New Announcements.  Tokmanni announced new store openings in Denmark during 2024-25. Considering the objectives stated in connection with the strategy update the announced store openings were expected, and thus do not cause any forecast changes.                   Inderes              Tokmanni's expansion in Denmark continues - Inderes    Tokmanni announced new store openings in Denmark during 2024-25. Considering the objectives stated in connection with the strategy update the announced store openings were expected, and thus do not cause any forecast changes.

Tokmanni Group

Tokmanni's Q2 results were close to our expectations, and we finally saw positive development in comparable EBIT. Inflation continues to a burden on the company, especially in own costs, but we expect the sales margin to continue to recover, supporting the earnings growth outlook. We also remain cautiously positive on the acquisition of Dollarstore. 

<p>Tokmanni's Q2 results were close to our expectations, and we finally saw positive development in comparable EBIT. Inflation continues to a burden on the company, especially in own costs, but we expect the sales margin to continue to recover, supporting the earnings growth outlook. We also remain cautiously positive on the acquisition of Dollarstore. </p> 

	2022	23e	24e
Revenue	1,168.0	1,402.8	1,707.4
growth-%	2.30 %	20.10 %	21.72 %
EBIT (adj.)	85.7	98.8	126.0
EBIT-% (adj.)	7.34 %	7.04 %	7.38 %
EPS (adj.)	1.03	1.07	1.28
Dividend	0.76	0.78	0.80
Dividend %	6.73 %	6.39 %	6.55 %
P/E (adj.)	10.99	11.42	9.50
EV/EBITDA	6.66	7.57	6.07

Tokmanni: Dollarstore improves earnings growth outlook

Tokmanni Group

Key Estimate Figures2023-08-04

Tokmanni Group

Key Estimate Figures2023-08-04

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