…and more focus on profitability going forward Urb-it expects that urban access regulations, putting restrictions on deliveries with vans, will start to be implemented in several European cities in the coming three years. This trend, together with Urb-it being a certified B Corporation using only e-cargo bikes, adds to the company’s competitive advantage as a sustainable choice for last-mile delivery. Moreover, we estimate that partnerships with larger vendors such as Amazon and Alibaba will add better geographical density. In turn, this should ensure more deliveries per hour, driving margins higher. On the back of the recent exited contracts and a softer market outlook, we lower our sales estimates by 21-27% for ’22e-’24e. Given the low margins on the cancelled contracts, we make relatively minor changes to our earnings ests. in absolute terms, cutting EBIT by SEK 3-11m in ’22-24e.
Fair value range lowered to 1.5-7.0 (2-9) per share The Urb-it share is down 26% YTD, and on our updated estimates is trading at ‘22e-’24e EV/Sal ... Läs mer på ABG Sundal Collier
Aktuellt
SENASTE
