Scanfil: Uncertainty regarding 2025 has increased - Nordea
This is a third party research report and does not necessarily reflect our views or values
We believe organic growth could be negative y/y for Q1 2025. Its EBIT margin could also be weak in Q1, due to investments for product launches. Uncertainty related to a trade war could even postpone orders from several customer segments, making the upper end of the 2025 guidance range hard to reach, we argue. We downgrade our 2025 estimates slightly, owing to a trade war and increased uncertainty related to the global economy. We derive a lower fair value range of EUR 8.1-10.0 (8.6-10.4), based on three equally weighted valuation approaches (DCF, EV/EBITDA and P/E). Marketing material commissioned by Scanfil Oyj.