BERG B Bergman & Beving

Bergman & Beving: Deliveries resumed after IT attack at subsidiary Luna´s external logistics supplier

Bergman & Beving: Deliveries resumed after IT attack at subsidiary Luna´s external logistics supplier

Press release

Deliveries resumed after IT attack at subsidiary Luna's external logistics supplier

The external logistical supplier to Luna has, as previously communicated, been exposed to an IT-attack. This has led to deliveries to Lunas customers have been paused. After hard work to remedy the problems, the deliveries are now back in operation from end of last week.

Stockholm, 10 October 2022

Bergman & Beving AB (Publ)

For further information, please contact:

Magnus Söderlind, President & CEO, Tel: 0

Peter Schön, CFO, Tel: 9

The information was submitted for publication, through the agency of the contact person set out above, at 8:00 a.m. CEST on 10 October 2022.

Bergman & Beving attracts, acquires and, over the long term, develops leading companies in expansive niches that deliver productive, safe, and sustainable solutions to the industrial and construction sectors. Through our companies, we are represented in over 4,000 sales outlets in more than 25 countries. Bergman & Beving is listed on Nasdaq Stockholm and has about 1,200 employees and generates revenue of approximately SEK 4.5 billion. Read more on the company’s website:

Attachment



EN
10/10/2022

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Bergman & Beving

Karl-Johan Bonnevier
  • Karl-Johan Bonnevier

Bergman & Beving (Hold, TP: SEK250.00) - Down to HOLD after revaluatio...

The Q4 report showed weak growth, but a solid profit margin and FCF generation. We have marginally revised our forecasts for 2024/25-2026/67e, following the results. After a solid share price performance and substantial expansion of valuation multiples, we find the risk/reward more neutral. We have downgraded to HOLD (BUY), with an increased target price of SEK250 (200), owing to our new 2026/27e valuation base, which suggests less near-term revaluation potential.

Karl-Johan Bonnevier
  • Karl-Johan Bonnevier

Bergman & Beving (Buy, TP: SEK200.00) - New target ‘500/10/45’ by 2025...

The Q3 report showed stronger profit margins and FCF generation, which we believe allows for a continued acquisition focus (six deals YTD), offsetting weaker demand indicators and FX. We have raised our 2023/24–2025/26e EPS by 4–7%. We see potential in the ‘focus model’ to reach a 10% EBIT margin and EBIT of SEK500m by 2025/26 and P/working capital of 45% by 2026/27, now in our value gap analysis. We reiterate our BUY and have raised our target price to SEK200 (170).

Karl-Johan Bonnevier
  • Karl-Johan Bonnevier

Bergman & Beving (Buy, TP: SEK170.00) - Strong Q2 execution

The Q2 report showed strengthening profit margins and FCF generation, which we believe allows for a continued acquisition focus (four deals YTD), offsetting weaker demand indicators and FX. We have raised our 2023/24–2025/26e EPS by 1–4%. We see potential in the ‘focus model’ to grow EBIT to SEK500m by 2025/26, highlighting value creation from internal efficiencies and acquisitions, similar to our value gap analysis. We reiterate our BUY and have raised our target price to SEK170 (165).

Karl-Johan Bonnevier
  • Karl-Johan Bonnevier

Bergman & Beving (Buy, TP: SEK165.00) - Much-improved FCF generation

The Q1 report matched our expectations. We believe the much-improved FCF generation allows for a renewed acquisition focus (three deals YTD), partly offsetting weakening demand indicators and FX, leading us to do only minor 2023/24–2025/26e EPS cuts. We see potential in the CEO’s ‘focus-model’ approach and ambition to grow EBIT to SEK500m by 2025/26, highlighting possible value-creation from internal efficiency and acquisitions, similar to our value gap analysis. We reiterate our BUY and SEK165 ...

Karl-Johan Bonnevier ... (+4)
  • Karl-Johan Bonnevier
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn

ResearchPool Subscriptions

Get the most out of your insights

Get in touch