Alcadon is trading at c. 10x EV/EBIT, in line with its three-year average but with significantly improved growth prospects following the acquisition of 6X International and exposure to the important German market. We deem Alcadon to have room for further acquisitions given its respective ‘21e ND/EBITDA and cash/sales of 1.1x and 11%, which could add to our estimates. Finally, we reiterate our fair value range of SEK 45-90.
Aktuellt
SENASTE
