Estimate revisions mainly due to lower expected profitability We only make slight adjustments to our sales estimates on the back of the report but lower our expected EBIT margins. We assume lower margins in three out of four business areas, while the Decommissioning business is raised and slightly offsets the other revisions. In total, this results in a negative EBIT revision of 8-6% for ‘22e-‘24e. We still expect Studsvik to reach ~10% EBIT margin for the group in ‘24e, compared to its financial target of an EBIT margin of 12%.
‘23e P/E of 12x, EV/EBIT of 9.6x and a 4.2% dividend yield Studsvik does have business relationship with Russian companies, mainly in the F&MT business area where it tests materials and provides medical isotopes to other customers, which have originated from Russian nuclear reactors. ... Läs mer på ABG Sundal Collier
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