Aktuellt
SENASTE
Relais' Q4 report was above LSEG consensus expectations, supported by strong 9% y/y organic revenue growth. The operating environment has remained stable and the company is aiming to increase the pace of its M&A actions going forward. Relais' operations are in good shape and the company is taking further actions to benefit from its scale e.g. via a higher share of private label spare parts. In the short term, the warm winter in the Nordics could cap improvement potential, while we expect the company to continue a steady improvement trend in 2025. We raise our DCF- and multiples-based fair value range to EUR 18.3-22.3 (17.7-21.6). Marketing material commissioned by Relais Group Oyj.
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