contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Juha Kinnunen

Revenio is a global provider of comprehensive eye care diagnostic solutions. The group offers fast, user-friendly, and reliable tools for diagnosing glaucoma, diabetic retinopathy, and macular degeneration (AMD). Revenio’s ophthalmic diagnostic solutions include intraocular pressure (IOP) measurement devices (tonometers), fundus imaging devices, and perimeters as well as software solutions under the iCare brand.

In 2023, the Group’s net sales totaled EUR 96.6 million, with an operating profit of EUR 26.3 million. Revenio Group Corporation is listed on Nasdaq Helsinki with the trading code REG1V.

Q3 was indeed rather boring, and it seems Q4 is progressing along the same lines. Reve also keeps a lower profile than before; they didn’t even bother to attend last week’s investor fair. We’ve met Salovaara and Hilden many times at that forum, but perhaps they no longer feel it necessary to meet us profit/information-hungry “slipper-wearers” with our difficult questions. A large foreign owner, of course, happily snaps up more shares as small investors look for alternative targets, of which there were indeed many at the exhibition center. Indeed, this M&A story has been heard for quite a long time, and the discussion may continue if/when high valuations have been the problem. Many stock markets have been rising for a couple of years now, and it’s unlikely that any significant discounts on asking prices will be coming anytime soon, rather the opposite. This global leader in ophthalmological devices and software solutions (according to its website) is now, at least from the window of my own sauna, somewhat in hibernation. Besides, a leading company in the field should have already had that much-talked-about OCT camera. The esteemed forum guru Optis has been reminding us of this for years, but now even the man on the street is starting to encounter OCT advertising in optician store windows. Well, I guess there’s nothing for it but to start building that OCT myself. I asked the AI for some advice: ’’Yes, it is possible to buy OCT sensors and the individual components required to build or customize an OCT system. While full commercial medical systems are typically expensive and proprietary, components are readily available for researchers, OEMs, and custom system builders. Where to Buy OCT Components Several specialized suppliers cater to the research and development market:   Thorlabs, Inc.: This company is a major supplier of complete OCT systems, subsystems, and individual components (e.g., light sources, beam scanning systems, scan lens kits) for custom builds in research and industrial applications. You can explore their offerings on the Thorlabs website.   Wasatch Photonics: They offer preconfigured, high-performance OCT spectrometers (a key sensor component) at various wavelengths and speeds, making system design easier for OEMs and researchers who don’t want to build every part from scratch.   OZ Optics Ltd.: This company provides a variety of passive and active fiber optic components, including superluminescent diode (SLD) light sources and broadband fiber components, used specifically for building OCT systems.   Edmund Optics: A supplier of various optical components and systems, including Lumedica OCT imaging systems.   OEM Suppliers (e.g., JADAK, G&H, Santec): Many companies offer OEM solutions, providing customized sensors, modules, and components for integration into larger commercial products.   These specialized suppliers offer OCT system components and configurable OCT systems for various applications:   Key Considerations   “Build vs. Buy”: Purchasing pre-optimized modules can save significant time and effort in optical design, alignment, and software development compared to sourcing every single piece independently.   Application Specific: Components are specialized for either spectral-domain (SD-OCT) or swept-source (SS-OCT) technology, and the required wavelength will depend on the application (e.g., 850 nm and 1060 nm are popular for medical use).   Expertise Required: Assembling a functional OCT system from individual sensors and components typically requires significant expertise in optics, engineering, and software development.   So, in Finnish: “it’s no big deal”. Let’s see if I can solder the package together before Revenio

Revenio’s trading volume today, with a rising share price, is many times higher than normal. Those in the know, know, I don’t…

The costs of disposable instruments were investigated in a US study, including those for rebound tonometry probes. The data is based on a clinic with 80,000 patient visits per year. The costs of the probes were estimated for different periods; for example, over a two-year period, the expense was 11

op-media.fi – 14 Oct 25              Osakkeiden top 10 – Nämä ovat ammattilaisten valinnat pitkän aikavälin...    Asiantuntijat listasivat kotimaiset yhtiöt, joilla on edellytyksiä pitkän aikavälin menestykseen.                             Revenio mentioned in strong company. When talking about purchases, it would be good to know how previous purchases are progressing. Hopefully they have been successful, even though not much has been seen.

In past quarters, there have been one-off costs which, reading between the lines, have been related to potential acquisitions. One would gradually hope for an acquisition like Centervue that would bring new momentum to the company. For several years now, there has been moderate growth in revenue, but correspondingly, the profit has been like a dead man’s electrocardiogram. Previous smaller acquisitions have not been outwardly visible in the numbers but have certainly strengthened the company. Similarly, the latest product launches are important for the company’s competitiveness and stable growth. But even they haven’t “blown up the bank” in a way that would be visible in growth figures. It’s great that companies are thoroughly investigated so that just anything isn’t bought. But one would hope that a gem would already be found that would bring new energy to Revenio again. The stock price might also get new life and attract interest from investors. The last 5-year development of -40% is not very appealing to new investors.

More precious than gold?  Revenio’s stock is highly valued. DCF shows 28€ if operating profit doubles in 5 years.

And @Juha_Kinnunen’s updated view, there’s still excitement for the rest of the year: Revenio Q3'25: Q4 ratkaisee tämänkin vuoden - Inderes Additionally, from Kauppalehti’s flash news: DNB Carnegie lowers Revenio’s target price to 29.00 euros (previously 29.80), reiterates buy recommendation Let’s also add this from the same source: Danske Bank lowers Revenio’s target price to 30.00 euros (previously 31.00), reiterates buy recommendation

Revenio Group

In the Value Creators concept, we highlight companies that have created substantial shareholder value. In this report, we introduce Revenio - a global leader in ophthalmic equipment and software solutions, with a focus on eye care solutions.

Translation: Original report published in Finnish on 10/1/2024 at 12:15 noon EEST.
In the Value Creators concept, we highlight companies that have created substantial shareholder value. The reports do not include forecasts; they are based solely on historical data and key figures derived from it.
We evaluate companies based on the following indicators: &#xa0;
<ul>
<li>Revenue development</li>
<li>Operating profit development and profitability (%)</li>
<li>Return on capital (%)</li>
<li>Cash flow generated from operations</li>
<li>Share price development and historical valuations &#xa0;</li>
<li>Data is primarily sourced from Bloomberg</li>
</ul>
We look at the long-term development and all figures are presented with the time series 2014-2023.&#xa0;The reports do not constitute investment recommendations.
In this report, we introduce Revenio - a global leader in ophthalmic equipment and software solutions, with a focus on eye care solutions.

	2023	24e	25e
Revenue	96.6	105.2	120.9
growth-%	-0.5 %	8.9 %	15.0 %
EBIT (adj.)	28.5	28.6	36.9
EBIT-% (adj.)	29.5 %	27.2 %	30.6 %
EPS (adj.)	0.80	0.83	1.09
Dividend	0.38	0.40	0.57
Dividend %	1.5 %	1.8 %	2.6 %
P/E (adj.)	31.5	26.5	20.1
EV/EBITDA	22.0	17.8	13.6

Value Creators: Revenio

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