Innofactor’s earnings turnaround has progressed convincingly for more than two years and brought forth the strong earnings potential of the company’s Finnish business. The Finnish business is already close to the long-term 20% growth and 20% EBITDA target, but other countries depress the development at Group level. The company still invests in strengthening its Nordic operations to initiate a phase of stronger and more sustainable profitable growth. We expect the growth to accelerate this year, in the longer-term stronger growth requires pull from other Nordic countries. With our estimates, Innofactor’s valuation is attractive from many viewpoints.
Innofactor
Innofactor operates in the IT sector. The company is focused on offering services in digitization and cloud-based solutions. Examples of business areas include sales, marketing and communication, business intelligence, and CRM (Customer Relationship Management). The largest presence is found in the Nordic market and customers consist of small and medium-sized corporate customers. The head office is located in Espoo.
Read more on company pageKey Estimate Figures2021-06-09
2020 | 21e | 22e | |
---|---|---|---|
Revenue | 66.2 | 69.4 | 72.2 |
growth-% | 3.06 % | 4.91 % | 4.00 % |
EBIT (adj.) | 4.5 | 6.0 | 7.0 |
EBIT-% (adj.) | 6.79 % | 8.69 % | 9.71 % |
EPS (adj.) | 0.10 | 0.10 | 0.14 |
Dividend | 0.04 | 0.06 | 0.07 |
Dividend % | 3.14 % | 4.67 % | 5.45 % |
P/E (adj.) | 12.69 | 12.37 | 8.97 |
EV/EBITDA | 7.82 | 4.35 | 5.09 |