Incap: Another blow hurts but won’t knock out
The second profit warning of the year and especially its scale was an ice-cold shower, although the risks were certainly known. We included a much more cautious scenario in our forecasts due to the prolonged inventory problems of the company’s largest customer.
Incap operates in the industrial sector. The company supplies equipment and services for industrial players, where the range includes PCB assembly, system integration, box building integration, design validation, and inspection methods. The largest operations are found in the Nordic, Baltic and Asian regions. The company was originally established in 1985 and is headquartered in Helsinki.
Read more on company pageKey Estimate Figures2023-10-08
| 2022 | 23e | 24e | |
|---|---|---|---|
| Revenue | 263.8 | 216.1 | 236.1 |
| growth-% | 55.4 % | -18.1 % | 9.2 % |
| EBIT (adj.) | 40.0 | 27.0 | 28.8 |
| EBIT-% (adj.) | 15.2 % | 12.5 % | 12.2 % |
| EPS (adj.) | 0.98 | 0.67 | 0.71 |
| Dividend | 0.00 | 0.00 | 0.00 |
| Dividend % | |||
| P/E (adj.) | 17.5 | 12.8 | 12.1 |
| EV/EBITDA | 12.0 | 7.9 | 6.5 |
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