Svedbergs Group: Feedback from ABGSC Investor Days - ABG
Markets have started turning better Truly decentralised with strong M&A track record Trading at 10x-9x our '25e-'26e EV/EBITA
ANNONS
Markets turning around
We hosted Svedbergs Group's CEO Per-Arne Andersson at ABG Sundal Collier Investor Days this afternoon, and came back with a positive impression. Mr. Andersson made commentary suggesting the company sees markets gradually improving, with e.g. better foot traffic in retail stores in the UK. He added that while the primary housing market is starting to show signs of recovery, this is unlikely to be visible in sales until late 2025 or early 2026. Around 10-15% of Svedbergs Group's sales are to project customers, normally. New to us were also the market share figures, the company estimates a 6-7% market share across key regions which could suggest there is some room to grow. Sharing product competence between brands can be part of this growth: Macro Design has come from selling shower walls to now have a more complete bathroom furniture offering and Roper Rhodes now also sell bathtubs since the inclusion to the Group. The shower wall category is highlighted as a category that is not offered in all brands and could thus be the next incremental growth opportunity.
