• Forum
  • Stock Markets
    • MarketsLive prices, indices, and market performance
    • Morning ReviewDaily market recap and key overnight highlights
    • Stock CalendarUpcoming earnings, listings, and corporate events
    • Dividends CalendarFuture and past dividends
  • Companies
    • CompaniesBrowse and filter the full list of listed companies
    • DiscoveryInspiration for your next investment
    • IPOsNew listings and upcoming public offerings
    • AGM InvitationsAnnual general meeting dates and shareholder info
  • Stock Research
    • ResearchExpert stock analysis and recommendations
    • ArticlesNews, insights, and market commentary
    • PortfolioInderes model portfolio
    • inderesTVVideo hub for stock research, analysis, and expert commentary
    • TranscriptsFull text records of earnings calls and investor meetings
    • Stock ComparisonCompare financials and performance across multiple stocks
Find us on social media
  • Inderes Forum
  • Youtube
  • Instagram
  • Facebook
  • X (Twitter)
Get in touch
  • info@inderes.se
  • +46 8 411 43 80
  • Vattugatan 17, 5tr
    111 52 Stockholm
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Q&A
  • Terms of service
  • Privacy policy
  • Disclaimer

Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.

Analyst Comment

Kreate signs agreement for continuation of previous railway project

By Roni PeuranheimoAnalyst
Kreate Group

Translation: Original comment published in Finnish on 6/28/2024 at 7:25 am EEST.

Kreate has signed an extension with the Finnish Transport Agency for two previous railway projects that Kreate is currently building between Kytömaa and Ainola. The signed contract is worth 34 MEUR. Kreate's order book at the end of Q1'24 was 183.6 MEUR, which makes the contract quite significant, even though it is spread over several years (2025-2027). The contract win supports the growth outlook we expect for the coming years, but we will of course review our forecasts in the next update.

The Kytömaa-Järvenpää construction contract won by KREATE is part of a major Helsinki-Riihimäki project that will improve the reliability of the key railway line, enable more passenger traffic and promote the competitiveness of freight traffic. The two works currently under construction include a new east track and a platform that will be operational by December 2024 at the latest. Winning the third part of the project seems to us to indicate that the first two parts went well from the customer's point of view, which is naturally encouraging for the company. The new contract is expected to begin no later than January 2025 with bridge and earthworks. The project is due to be completed by July 2027. The railway project is a good example of the fruits of Kreate's growth efforts, as the railway business is one of the key areas where the company is seeking growth.

Kreate Group operates in the infrastructure sector. The company offers a wide range of services in the development of demanding industrial projects. Examples of services include bridge repair and construction, track construction for trains and rails, and mass excavation and crushing of rock for new motorway extensions. The largest operations are conducted around the Nordic market.

Read more on company page

Key Estimate Figures2024-04-28

202324e25e
Revenue320.0279.5297.4
growth-%16.8 %-12.7 %6.4 %
EBIT (adj.)7.69.010.8
EBIT-% (adj.)2.4 %3.2 %3.6 %
EPS (adj.)0.440.560.73
Dividend0.480.490.50
Dividend %6.7 %2.0 %2.0 %
P/E (adj.)16.544.534.2
EV/EBITDA5.816.314.6

Forum discussions

Sale has written up some comments again regarding Kreate’s tunnel project. Inderes – 17 Jun 26 Kreaten 30 MEUR:n tunnelihanke vauhdittaa kasvua...
yesterday
by Sijoittaja-alokas
5
Atte has released a new company report on Kreate following the positive profit warning. We are raising Kreate’s target price to EUR 25.0 (previously...
yesterday
by Sijoittaja-alokas
8
An extremely well-managed company. Others should follow this example. I am, however, a bit intimidated by this pace of growth; hopefully, they...
yesterday
by James Bondi
2
And what’s best, as I recall, this SRV Infra had a much better margin than Kreate, at least last year.
yesterday
by IMATION
1
I can’t recall the last time a construction company on the Helsinki Stock Exchange rose nearly 200% within a year. Regrettably, I have been ...
yesterday
by Lohis
4
I would like to continue on why it is very possible that we aren’t done yet. The company stated the following in connection with the 2025 earnings...
yesterday
by IMATION
4
It seems this profit warning was already baked into the share price. The upper end of the new EBITA guidance is starting to look appropriate...
yesterday
by IMATION
9