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Relais: CFO stepping down – recruitment process has started - Nordea

Relais’ CFO Pekka Raatikainen is stepping down by the end of June to pursue career outside the company. Relais has started the recruitment process for a new CFO. We were left with impression that there is no drama behind the change of CFO, more of a natural step after the IPO in 2019 and recent transfer of the company to the main list of Nasdaq Helsinki. Relais will report its Q4 on 2 March. For Q4, we are in line with Refinitiv consensus on sales and adjusted EBITA. We expect 2% y/y sales growth (-1% on LFL basis) and virtually flat adjusted EBITA development (-30 bp EBITA margin). Although there is uncertainty over consumer sales, we expect repair and maintenance operations to support development in Q4.

Relais’ CFO Pekka Raatikainen is stepping down by the end of June to pursue career outside the company. Relais has started the recruitment process for a new CFO. We were left with impression that there is no drama behind the change of CFO, more of a natural step after the IPO in 2019 and recent transfer of the company to the main list of Nasdaq Helsinki. Relais will report its Q4 on 2 March. For Q4, we are in line with Refinitiv consensus on sales and adjusted EBITA. We expect 2% y/y sales growth (-1% on LFL basis) and virtually flat adjusted EBITA development (-30 bp EBITA margin). Although there is uncertainty over consumer sales, we expect repair and maintenance operations to support development in Q4.
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