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Clavister Holding AB: 1 director

A director at Clavister Holding AB bought 28,000 shares at 3.720SEK and the significance rating of the trade was 51/100. 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 c...

ABGSC IT Research ... (+3)
  • ABGSC IT Research
  • Simon Granath
  • Simon Jönsson
ABGSC IT Research ... (+3)
  • ABGSC IT Research
  • Simon Granath
  • Simon Jönsson
ABGSC IT Research ... (+3)
  • ABGSC IT Research
  • Simon Granath
  • Simon Jönsson
ABGSC IT Research ... (+3)
  • ABGSC IT Research
  • Simon Granath
  • Simon Jönsson
ABGSC IT Research ... (+3)
  • ABGSC IT Research
  • Simon Granath
  • Simon Jönsson
ABGSC IT Research ... (+3)
  • ABGSC IT Research
  • Simon Granath
  • Simon Jönsson
ABGSC IT Research ... (+3)
  • ABGSC IT Research
  • Simon Granath
  • Simon Jönsson
ABGSC IT Research ... (+3)
  • ABGSC IT Research
  • Simon Granath
  • Simon Jönsson
ABGSC IT Research ... (+3)
  • ABGSC IT Research
  • Simon Granath
  • Simon Jönsson
ABGSC IT Research ... (+3)
  • ABGSC IT Research
  • Simon Granath
  • Simon Jönsson
ABGSC IT Research ... (+3)
  • ABGSC IT Research
  • Simon Granath
  • Simon Jönsson

Strong business momentum continues

Q2e: sales +18% and EBITDA +38% y-o-y. We raise our EBITDA estimates by 10-6% on '24e-'26e. Positive EBIT now within reach; 17-7x EV/EBITDA '24e-'26e.

ABGSC IT Research ... (+3)
  • ABGSC IT Research
  • Simon Granath
  • Simon Jönsson
ABGSC IT Research ... (+3)
  • ABGSC IT Research
  • Simon Granath
  • Simon Jönsson

Better-than-expected growth acceleration

25% organic growth, 13% ARR growth y-o-y. Slightly higher opex offset by better gross margin. Trading at 12-5x EV/EBITDA '24e-'26e.

Simon Granath ... (+2)
  • Simon Granath
  • Simon Jönsson

Clavister - Q3 in line with expectations

Sales +5% y-o-y, in-line with ABGSCe No major changes to estimates Fair value range of SEK 2-12 per share maintained

Simon Granath ... (+2)
  • Simon Granath
  • Simon Jönsson

Clavister - Good outlook for more Defense orders

We forecast 3% sales growth and positive EBITDA in Q3 We cut ‘22e sales by 2% on a slow 5G market Share is trading at 20x EV/EBITDA on 2023e

Simon Granath ... (+2)
  • Simon Granath
  • Simon Jönsson

Clavister - High activity among defence clients

Beat on sales but sales mix hurt profitability in Q2 We cut ‘22e-‘24e EBITDA by SEK 9m, 6m, and 4m, resp. New FVR of SEK 3-14 (4-14) – 2.9x EV/sales on 2023e

Simon Granath ... (+2)
  • Simon Granath
  • Simon Jönsson

Clavister - Q1 a tad soft, but outlook remains solid

Q1 slightly below expectations, sales -8% vs ABGSCe We cut ‘23e and ‘24e EBITDA by 29% and 21% Share trading at 18x and 11x EV/EBITDA on ‘23e and ‘24e

Simon Granath ... (+2)
  • Simon Granath
  • Simon Jönsson

Clavister - Improved outlook after cost saving programme

Order intake +39% y-o-y, sales +17% Cost saving programme initiated; aims to cut opex by 20% Trading at 13.5x ‘23e EV/EBITDA, -55% vs. peers

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