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Sdiptech AB : 1 director

A director at Sdiptech AB bought 800 shares at 342.250SEK and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly sh...

Johan Skoglund
  • Johan Skoglund

Indutrade - Initiation of coverage - Compounding reinvestments

With a history of reinvesting FCF into EPS growth and high capital returns, we believe Indutrade’s capital allocation stands out among Swedish industrial M&A compounders. Growing focus on organic growth combined with a proven acquisition agenda warrants a premium valuation, in our view, and we initiate coverage with a BUY and SEK305 target price.

ABGSC Capital Goods Research ... (+3)
  • ABGSC Capital Goods Research
  • Karl Bokvist
  • Olof Cederholm

Long-term attraction after our CEO panel

We hosted a CEO panel with Assemblin, Bravida and Instalco. Focus on margins and above-market growth likely to remain. At the centre of need for energy efficiency, positive for 2025+.

ABGSC Capital Goods Research ... (+2)
  • ABGSC Capital Goods Research
  • Karl Bokvist

Serial acquirers Q1 recap: organic slowdown continues

Q1 recap: lower volumes, but strong margins, 1-3% adj. EBITA miss, '24e-'26e EBITA down 1-0% post-Q1, sector up 13% YTD (EPS up 5%), now trading at ~22x F12m EV/EBITA, 25% above 10Y avg.

ABGSC Capital Goods Research ... (+2)
  • ABGSC Capital Goods Research
  • Karl Bokvist

Resilient earnings, reassuring outlook

Tougher market did not halt EBITA growth, '24/'25e-'26/'27e EBITA up 0-1%; 7% CAGR '23-'26e, keep HOLD, TP SEK 165 (150)

ABGSC Capital Goods Research ... (+2)
  • ABGSC Capital Goods Research
  • Karl Bokvist
ABGSC Capital Goods Research ... (+2)
  • ABGSC Capital Goods Research
  • Karl Bokvist

Organic profit momentum continues to impress

Negative org. sales, but org. EBITA stays positive, '24/'25e-'26/'27e EBITA up 2-1%; 6% CAGR '23-'26e, keep HOLD, TP SEK 255 (245)

ABGSC Capital Goods Research ... (+2)
  • ABGSC Capital Goods Research
  • Karl Bokvist
 PRESS RELEASE

Sdiptech AB (publ) - Parts of the management in Sdiptech sell shares f...

Sdiptech AB (publ) - Parts of the management in Sdiptech sell shares for private reasons Press release15 May 2024, 18:30 Sdiptech AB (publ) - Parts of the management in Sdiptech sell shares for private reasons Today, Sdiptech announces that parts of the company's management team have sold Class B shares for private reasons, among other things to cover the tax costs that have arisen in connection with previous option programs in Sdiptech. The parts of the management team that have sold shares continue to be invested in Sdiptech through shares and option programs. All members of the manag...

ABGSC Capital Goods Research ... (+3)
  • ABGSC Capital Goods Research
  • Karl Bokvist
  • Olof Cederholm

Margins in focus as volumes decline

Tech Consulting the main highlight in a slower Q1, '24e-'26e adj. EBITA up 1-0%; 5% CAGR '23-'26e, keep HOLD, TP of SEK 40 unchanged.

ABGSC Capital Goods Research ... (+3)
  • ABGSC Capital Goods Research
  • Karl Bokvist
  • Olof Cederholm
ABGSC Capital Goods Research ... (+2)
  • ABGSC Capital Goods Research
  • Karl Bokvist

Organic momentum impresses

>5% org. EBITA, ~20% total EBITA growth FY'24, '24e-'26e adj. EBITA up 4-3%; 10% CAGR '23-'26e, keep BUY, TP SEK 350 (340).

ABGSC Capital Goods Research ... (+2)
  • ABGSC Capital Goods Research
  • Karl Bokvist

A bolt from the blue

Biggest miss in five years, but should not be extrapolated. '24e-'26e EBITA down 7-3%. We keep HOLD, TP of SEK 255 unchanged.

ABGSC Capital Goods Research ... (+2)
  • ABGSC Capital Goods Research
  • Karl Bokvist
ABGSC Capital Goods Research ... (+2)
  • ABGSC Capital Goods Research
  • Karl Bokvist
 PRESS RELEASE

Sdiptech AB (publ) publishes interim report for the first quarter (Jan...

Sdiptech AB (publ) publishes interim report for the first quarter (January-March) 2024 Press release25 April 2024, 08:00 Sdiptech AB (publ) publishes interim report for the first quarter (January-March) 2024The report is available on the company's website:  CONTINUED GROWTH WITH SOLID CASH FLOW FIRST QUARTER 2024 Net sales increased by 24% to SEK 1,335 million (1,076). In total for the Group, organic sales growth was 10%, excluding currency effects. EBITA, increased by 24% to SEK 255 million (206), corresponding to an EBITA margin of 19.1% (19.2)Adjusted EB...

ABGSC Capital Goods Research ... (+2)
  • ABGSC Capital Goods Research
  • Karl Bokvist

The worst is likely behind us

Up to HOLD (Sell), TP SEK 250 (245), '24e-'26e EBITA down 2-1%; 3% CAGR '23-'26e, Demolition weakness likely to persist until H2'24.

ABGSC Capital Goods Research ... (+2)
  • ABGSC Capital Goods Research
  • Karl Bokvist
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