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Relais Group

15.50 EUR

+1.97 %

3,823 following
Corporate customer

RELAIS

NASDAQ Helsinki

Automobiles

Consumer Goods & Services

+1.97 %
-10.14 %
-7.19 %
-2.82 %
-8.82 %
+5.44 %
+38.39 %
+2.99 %
+110.88 %

Relais Group is an importer and wholesaler for the automotive industry. The group focuses mainly on the development of automotive electronic equipment for trucks. Examples of products that the company supplies include lighting products, applications for warning lights, camera systems, and other spare parts for heavy vehicles. The largest operations are found in the Nordic and Baltic markets, with customers in the aftermarket industry.

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Market cap
286.71M EUR
Turnover
3.12M EUR
P/E (adj.) (26e)
12.1
EV/EBIT (adj.) (26e)
11.66
P/B (26e)
2.13
EV/S (26e)
1.19
Dividend yield-% (26e)
2.45 %
Coverage
Recommendation
Accumulate
Target price
18.00 EUR
Updated
2026-02-15
Disclaimer
Petri Gostowski
Petri Gostowski

Co. Head of Research

Latest research

Latest analysis report

Released: 2026-02-16

Latest extensive report

Released: 2025-06-18

Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
14/4
2026

General meeting '26

15/4
2026

Half year dividend

13/5
2026

Interim report Q1'26

Risk
Business risk
Valuation risk
Low
High
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Third party research

Relais Group: We expect margins to rebound in H1 - Nordea

Relais' Q4 was soft, with the top line and adjusted EBITA below LSEG Data & Analytics consensus. The company noted low utilisation of resources due to market conditions, while we believe the warm start to the winter hampered performance. Given its elevated...

Relais Group
Third party research

Relais Group: Soft demand visible in Q4 earnings - Nordea

Relais Q4 adjusted EBITA of EUR 10.8m was up 2% y/y and came 16% below LSEG Data & Analytics consensus of EUR 12.8m. Organic sales growth was -2% y/y in Q4 (Nordea +1%) owing to continued tough market conditions. Net sales were EUR 117m (+29% y/y), 2...

Relais Group
Third party research

Relais: Weather impacting near-term earnings - Nordea

Relais outperformed the market in Q3 and we expect a similar performance for Q4. However, the warm start to winter in the Nordics likely burdened the top-line and margin development in Q4, which we expect to reverse in H1, thanks to a long, cold period...

Relais Group
Forum discussions
Inderes Relais Group Oyj: Johdon liiketoimet - Christian Johansson Gebauer - Inderes Relais Group Oyj, Johtohenkilöiden liiketoimet, 18.2.2026 klo 15.00____________________________________________IlmoitusvelvollinenNimi: Christian Johansson GebauerAsema: Toimitusjohtaja Liikkeeseenlas...
13 hours ago
by JP199
23
I got really good first vibes from the new CEO based on that interview. The man talked a lot about capital allocation. In his view, Relais is already a good company where the basics are being done correctly. However, things can still be improved so that the company reaches its full...
2/14/2026, 1:53 PM
by Kotipuutarhuri
21
I’ll post my own scattered thoughts on the results in this thread as well. It was a somewhat soft quarter in terms of profitability, there’s no getting around that. However, a quarter is too short a timeframe to draw significant conclusions in one direction or the other. After Q3...
2/14/2026, 8:28 PM
by JP199
19
It was mentioned regarding the new segments that comparative figures will indeed be released before the Q1 2026 report. In the webcast, I thought both the CEO and CFO were keeping a poker face when asked about the effects of the freezing weather. “The impact is as we anticipated,...
2/13/2026, 8:50 AM
by Jageksi
14
New CEO’s Q4 interview:
2/13/2026, 11:14 AM
by Ilkka
13
I noticed that the presentation wasn’t quite as natural yet as, for example, Arni’s. Some slight stiffness was noticeable, but I’m sure it will relax over the coming quarters . Waiting with interest to see what kind of financial targets will be set and for what timeframe. The Q4 ...
2/14/2026, 2:43 PM
by N.K
11
Thanks for pointing that out! What a confusing bug, I have no idea how that ended up there
2/16/2026, 6:44 AM
by Petri Gostowski
9
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