Rapala VMC

3,72EUR +5,83 %
5 988 investerare följer bolaget.

Rapala VMC är verksamma inom fritidsfiske. Försäljning av fiskeutrustning sker via bolagets distributionsnät och inkluderar ett flertal varumärken. Produktsortimentet består av fiskekläder samt tillhörande utrustning som fiskespön, metallås, beten och fiskeknivar. Idag innehas verksamhet på global nivå, med störst närvaro inom Europa och Nordamerika. Bolagets huvudkontor ligger i Helsingfors.

P/E (23e)
21,34
EV/EBIT (23e)
17,09
P/B (23e)
1
Direktavkastnings- % (23e)
2,69 %
Riktkurs
4.50 EUR
Rekommendation
Minska
Uppdaterad
10.2.2023
NASDAQ Helsinki
RAP1V
Dagens lägsta / högsta pris
3,72 / 3,72 EUR
Börsvärde
145,08 mn EUR
Omsättning
44,64 EUR
Volym
12
Risk och rekommendation
HögRiskLåg
SäljRekommendationKöp

Analyst

Finansiell kalender

Bolagsstämma
2023-03-29
Årlig dividend
2023-03-30
Delårsrapport
2023-07-14

Income statement

20192020202120222023e2024e2025e2026e
Revenue275,40261,30294,30274,40267,82290,18307,59319,90
growth-%4,95 %−5,12 %12,63 %−6,76 %−2,40 %8,35 %6,00 %4,00 %
EBITDA26,0024,7045,9923,6025,4532,5740,6143,52
EBIT (adj.)17,9021,5032,6915,3013,8521,0029,0832,01
EBIT13,4010,8032,0912,3013,8521,0029,0832,01
Profit before taxes9,806,6027,998,8010,5516,5524,9028,02
Net income3,591,1917,043,706,7812,4118,6721,02
EPS (adj.)0,210,310,460,170,170,320,480,54
growth-%20,67 %46,09 %48,13 %−62,28 %1,13 %83,19 %50,44 %12,55 %
Dividend0,000,000,150,040,100,200,300,32
Dividend ratio33,99 %42,03 %57,37 %62,64 %62,46 %60,00 %

Profitability and return on capital

20192020202120222023e2024e2025e2026e
EBITDA-%9,44 %9,45 %15,63 %8,60 %9,50 %11,22 %13,20 %13,60 %
EBIT-% (adj.)6,50 %8,23 %11,11 %5,58 %5,17 %7,24 %9,45 %10,01 %
EBIT-%4,87 %4,13 %10,90 %4,48 %5,17 %7,24 %9,45 %10,01 %
ROE2,48 %0,84 %12,30 %2,66 %4,78 %8,36 %11,80 %12,49 %
ROI5,67 %4,65 %13,78 %4,67 %5,06 %8,01 %10,94 %11,79 %

Valuation

20192020202120222023e2024e2025e2026e
Share price (EUR)2,774,368,725,003,723,723,723,72
Shares38,3038,5538,6138,8838,8838,8838,8838,88
Market cap106,09168,08336,67194,38144,62144,62144,62144,62
Enterprise value203,92245,48414,77316,18236,67225,53219,56213,53
EV/S0,740,941,411,150,880,780,710,67
EV/EBITDA7,849,949,0213,409,306,925,414,91
EV/EBIT (adj.)11,3911,4212,6920,6717,0910,747,556,67
EV/EBIT15,2222,7312,9325,7117,0910,747,556,67
P/E (adj.)13,1214,1419,0929,0121,3411,657,746,88
P/E29,59141,2419,7652,5421,3411,657,746,88
P/B0,721,222,421,401,000,950,880,84
P/S0,390,641,140,710,540,500,470,45
Dividend yield1,72 %0,80 %2,69 %5,38 %8,06 %8,72 %
Equity ratio52,35 %52,42 %44,15 %41,11 %45,86 %47,97 %49,94 %51,79 %
Gearing ratio54,39 %36,64 %56,07 %87,63 %63,83 %52,97 %45,80 %39,84 %

Quarter data

Q1/22Q2/22Q3/22Q4/222022Q1/23eQ2/23eQ3/23eQ4/23e
Revenue148,40126,00274,40141,60126,23
EBITDA19,404,2023,6017,308,15
EBIT13,60−1,3012,3011,502,35
Profit before taxes12,50−3,708,809,900,65
Net income8,65−4,953,707,13−0,35
Publisher
Aktieanalys

Rapala VMC: Meager catch will improve in coming years

Result-wise Rapala's H1 report brought no joy and H2 will also remain very modest. In the longer term, earnings growth has clear steps to continue as the journey to reach the full potential of the Rapala brand and the rod & reel category has only started...

2022-07-18 av Olli Vilppo
Publisher
Omfattande aktieanalys

Rapala VMC: Hooked on turnaround

Rapala's earnings growth has all preconditions to continue in the next few years despite the fishing boom slowing down as the journey to reach the full potential of the Rapala brand and the rod & reel category has only started. We lowered our estimates...

2022-04-19 av Olli Vilppo
Publisher
Aktieanalys

Rapala: Big fish caught in the net of those with patience

Rapala’s H2’21 fell clearly short of our high expectations as some key orders were received already in H1’21 as stores ensured availability. 2021 net sales improved by 50% to EUR 32.7 million and thus the company heads into 2022 from a lower earnings...

2022-02-14 av Olli Vilppo
Publisher
Aktieanalys

Pieces falling in place at record speed

Rapala's H1 result was very strong as high-margin sales was efficiently reflected in the lower rows. Sales was clearly helped by the fishing boom generated by the pandemic and good weather but, in our opinion, the main background factor is that the company...

2021-07-19 av Olli Vilppo
Publisher
Aktieanalys

Encouraging progress in turnaround

Rapala raised its guidance clearly late on Tuesday evening. We expect a clear positive share price reaction today, as after the estimate revisions we made, the current valuation is extremely attractive (2021e P/E 15x).

2021-04-22 av Olli Vilppo
Publisher
Omfattande aktieanalys

Patience may yet be rewarded with a great catch

We have grown slightly more confident that, in the hands of new management, the execution of Rapala’s strategy will start to bear fruit and the EBIT margin may return closer to the company’s historical levels and the levels of its competitors. Extracting...

2020-10-14 av Olli Vilppo