Meriaura: Earnings outlook for sea freight stabilized
In Marine Logistics, cyclical concerns seem to have abated and the segment's performance should remain stable. Renewable Energy's loss will narrow in the early part of the year thanks to order book growth and acquisitions, but a turnaround to positive EBIT in the segment is not in sight, at least not for the next few years, which is why we believe there is no upside to the valuation.
Meriaura Group
Meriaura Group has two business areas: Maritime Logistics and Renewable Energy. Meriaura transports dry cargo and executes demanding project deliveries in Northern Europe. The company offers CO2 reducing marine transport services based on the use of recycled, in-house produced bio-oil. Meriaura Energy designs and delivers clean energy production solutions for district heating and industrial use worldwide, with Europe as the main market area.
Read more on company pageKey Estimate Figures01/03
2023 | 24e | 25e | |
---|---|---|---|
Revenue | 66.2 | 78.5 | 85.2 |
growth-% | 666.45 % | 18.56 % | 8.61 % |
EBIT (adj.) | 1.0 | 3.3 | 4.2 |
EBIT-% (adj.) | 1.58 % | 4.20 % | 4.98 % |
EPS (adj.) | -0.00 | 0.00 | 0.00 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | - | 23.13 | 13.79 |
EV/EBITDA | 8.98 | 6.29 | 5.52 |