Analyser av Elanders

Elanders: Organic rebound - Nordea

Elanders presented a solid Q3 2024 report with 4% y/y organic sales growth, primarily due to the stronger European fashion market.

Nordea • 21 Oct 07:28

Elanders: On track for solid earnings growth - ABG

Q3 weaker than expected... ...but overall outlook is intact Well positioned for market recovery Encouraging demand improvement despite Q3 m...

ABG Sundal Collier • 21 Oct 07:27

Elanders: Weaker Q3 but outlook a relief - ABG

Adj. EBITA SEK 237m (-9% vs. ABGSCe 261m) Consensus full-year EBITA likely to come down slightly 12x 2024e EBITA on pre-Q3 estimates Q3 out...

ABG Sundal Collier • 18 Oct 14:17

Elanders: Increased earnings growth ahead - Nordea

We lower adjusted EBITA by 2-4% for 2024E-26E ahead of Elanders' Q3 2024 report.

Nordea • 04 Oct 07:32

Elanders: Långsam förbättring - Analysguiden

Elanders har agerat offensivt med förvärv i den tidigare svackan.

Analysguiden • 21 Aug 10:11

Elanders: Moving in the right direction - Nordea

Elanders presented a decent Q2 2024 report with flat organic sales y/y, partly supported by easier comps.

Nordea • 15 Jul 08:33

Elanders: H2 scenario intact - ABG

- Q2 showed turnaround in organic growth... - ...and confirmed demand trough - Low valuation and in good shape for market recovery Encouragi...

ABG Sundal Collier • 15 Jul 08:21

Elanders Q2: Encouraging recovery in SCS - ABG

- Adj. EBITA SEK 215m (-3% vs. ABGSCe 222m) - Consensus full-year EBITA likely down marginally - 12x 2024e EBITA on pre-Q2 estimates Q2 outc...

ABG Sundal Collier • 12 Jul 08:51

Elanders: Improvement in Q2e, bigger hopes for H2 - ABG

Reasons to be optimistic after slow start to the year We expect Elanders to report Q2 net sales of SEK 3,681m, +7% y-o-y (-4% organic, +1% F...

ABG Sundal Collier • 05 Jul 08:25

Elanders: Bright spots appearing - Nordea

We make minor changes to adjusted EBITA for 2024E-26E ahead of Q2.

Nordea • 25 Jun 07:33

Elanders: Låg efterfrågan från konsumenter i Q1 - Analysguiden

Q1 var utmanande med svag efterfrågan och omsättningen minskade.

Analysguiden • 02 May 11:01

Elanders: Negativa pressen från den organiska tillväxten håller på att ebba ut - Penser

Negativ organisk tillväxt… Den organiska tillväxten var -9% i Q1.

Penser • 22 Apr 10:16

Elanders: Margins moving in opposite directions - Nordea

Elanders presented a mixed Q1 report, with a high single-digit organic sales decline, as Fashion saw a ~20% y/y drop in Europe and the US.

Nordea • 22 Apr 07:12

Elanders: Improvement expected after Q1's perfect storm - ABG

Q1 weaker than expected... ...but outlook remains bright Low valuation and leverage on market, lower interest rates Slow start to the year ...

ABG Sundal Collier • 22 Apr 07:11

Elanders: Q1 weaker than feared - ABG

Adj. EBITA SEK 180m (-16% vs. ABGSCe 214m) Consensus full-year EBITA should come down by mid-to-high single digits 11x 2024e EBITA on pre-Q1...

ABG Sundal Collier • 19 Apr 10:59

Elanders: Solid earnings growth after Q1e - ABG

Q1e to mark low point amid organic decline... ...but we expect solid earnings development in subsequent quarters Low valuation and in good s...

ABG Sundal Collier • 16 Apr 07:19

Elanders: Expecting margins to trough in Q1 - Nordea

Despite the recent acquisition of Bishopsgate, we lower adjusted EBIT by 2-3% for 2024E-26E ahead of Elanders' Q1 2024E report.

Nordea • 10 Apr 07:36

Elanders: Lägre fraktpriser inom Air & Sea tyngde även i Q4 - Analysguiden

Q4 blev ett utmanade kvartal och ökade räntenivåer har lagt press resultatet.

Analysguiden • 05 Mar 14:33

Interview with Elanders Feb 5, 2024 - Penser Access by Carnegie

Equity analyst interviews Elanders' CEO Magnus Nilsson and CFO Andreas Wikner after their Q4.

Penser • 05 Feb 09:50

Elanders: Acquisition momentum continues - ABG

Bishopsgate looks highly complementary, ... ...provides diversification, and is accretive We are optimistic about 2024 Bishopsgate strength...

ABG Sundal Collier • 02 Feb 10:49

Elanders: Gradvis återhämtning från Q2 - Penser

-11% organisk tillväxt… Med volymtillväxt på ca -5% och fallande fraktpriser på 6% var den organiska tillväxten -11% i kvartalet.

Penser • 01 Feb 10:02

Elanders: Bright spots despite an overall hazy outlook - Nordea

Elanders presented a decent Q4 2023 report with 13% lower sales y/y, driven by the cocktail of discontinued businesses, normalising freight ...

Nordea • 01 Feb 07:30

Elanders: We are optimistic about 2024 - ABG

Still high uncertainty, but Elanders is making improvements.

ABG Sundal Collier • 01 Feb 07:29

Elanders Q4: Better sales, but weaker margin than expected - ABG

Adj. EBITA SEK 289m (-3% vs. ABGSCe 299m) Consensus EBITA should not change much 10x 2024e EBITA on pre-Q4 estimates Q4 outcome Sales came ...

ABG Sundal Collier • 31 Jan 08:42

Elanders: Kammac drives estimate increases - ABG

Organic sales decline again... ...but strong margin and FCF development In good shape for eventual market recovery Impressive handling of s...

ABG Sundal Collier • 25 Jan 07:21

Elanders: A bump-up in the long-term margin profile - Nordea

Encouraged by the acquisition of Kammac, we raise adjusted EBIT by 14-15% for 2024E-25E ahead of Elanders' Q4 2023 report.

Nordea • 24 Jan 07:21

Elanders: Proven ability to navigate through tougher markets - ABG

Well-run company with proven ability... ...to adapt to changing demand environment In good shape for eventual market recovery Interesting l...

ABG Sundal Collier • 15 Dec 2023 07:18

Elanders: Ett utmanande kvartal för Supply Chain Solutions - Analysguiden

Elanders mötte svag efterfrågan under Q3 och ett högre ränteläge pressar vinsten.

Analysguiden • 15 Nov 2023 10:13

Elanders: High-potential acquisition - ABG

Kammac provides attractive niche exposure... ...and looks highly accretive on multiple and earnings Elanders trades below historical average...

ABG Sundal Collier • 08 Nov 2023 15:17

Elanders: Marginalen tillbaka på trend - Penser

-11% organisk tillväxt… Efterfrågan i Supply Chain Solutions försvagades i alla större kundsegment och marknader samtidigt som de fallande f...

Penser • 18 Oct 2023 11:05

Elanders: Margins set to improve from here - Nordea

Elanders presented a somewhat soft Q3 2023 report with -11% organic growth, owing to Supply Chain Solutions and augmented by the normalisati...

Nordea • 18 Oct 2023 07:17

Elanders: In good shape for eventual demand recovery - ABG

Markedly softer demand, but margins are improving We lower adj.

ABG Sundal Collier • 18 Oct 2023 07:16

Elanders: Q3 EBITA miss amid weak demand - ABG

Adj. EBITA SEK 211m (-13% vs. ABGSCe 241m) Consensus EBITA likely to come down by 5-7% 10x 2023e EBITA on pre-Q3 estimates Q3 outcome Sales...

ABG Sundal Collier • 17 Oct 2023 13:59

Elanders: Set for Q3 margin expansion - Nordea

We lower adjusted EBIT by 1-2% for 2023E-25E ahead of Elanders' Q3 2023 report.

Nordea • 13 Oct 2023 07:19

Elanders: Margins should improve despite softer demand - ABG

Lower demand, freight rates, and contract closures.

ABG Sundal Collier • 11 Oct 2023 07:27

Elanders: Ser svagare efterfrågan i Nordamerika - Analysguiden

Kvartalet tyngs av minskad efterfrågan inom Supply Chain Solutions.

Analysguiden • 01 Aug 2023 10:51

Elanders: Svagare marknader och få triggers i närtid - Penser

-9% organisk tillväxt… Med 5-6% negativ påverkan från pris (fallande fraktpriser), vilket kommer fortsätta påverka under H2, tog den organis...

Penser • 13 Jul 2023 11:29

Elanders: Market outlook remains uncertain - Nordea

Elanders presented a somewhat soft Q2 2023 report with -9% organic growth, owing to Supply Chain Solutions, as the Air & Sea operations saw ...

Nordea • 13 Jul 2023 07:13

Elanders: Demand clearly slowing, but it's raining cash - ABG

• Adj. EBITA down 5% on lower top-line estimates • Cash flow remains strong despite softer earnings • '23e-'25e cumulative lease adj.

ABG Sundal Collier • 13 Jul 2023 07:05

Elanders: - 9% lower on adj. EBITA, driven by top-line - ABG

• Adj. EBITA SEK 210m (-9% vs. ABGSCe 231m) • Cons.

ABG Sundal Collier • 12 Jul 2023 08:39

Elanders: Mixed Q2 print coming off the press - Nordea

We lower adjusted EBIT by 2-3% for 2023E-25E ahead of Elanders' Q2 report – a quarter in which we expect weak demand in Electronics in EMEA ...

Nordea • 06 Jul 2023 07:33

Elanders: Electronics struggling, F&LS holding up - ABG

Q2 report due on Wednesday, 12 July Demand likely slowing, mainly in Electronics 10x EV/EBITA (adj.

ABG Sundal Collier • 05 Jul 2023 07:39

Elanders: Engångsposter belastade resultatet i Q1 - Analysguiden

Lönsamheten förbättrades under Q1 och Elanders närmar sig sitt långsiktiga marginalmål.

Analysguiden • 11 May 2023 16:01

Elanders: Se igenom den tillfälliga svagheten - Penser

Q2 kommer vara fortsatt svårt, men vi räknar med återhämtning i H2 Den organiska tillväxten kom in på -2%.

Penser • 24 Apr 2023 11:03

Elanders: High financial costs leave a sour taste - ABG

Q1 in line with prel. figures, no surprise Marginally lower adj.

ABG Sundal Collier • 24 Apr 2023 09:47

Elanders: Numbers in line but softer commentary - Nordea

We make only minor estimate revisions following the Q1 report, which was in line with the preliminary numbers presented on 13 April showing ...

Nordea • 24 Apr 2023 08:57

Elanders: Margins overshadowed by accounting issue - Nordea

On 13 April, Elanders published preliminary Q1 2023 numbers, suggesting a 16% y/y EBITA uplift and margins up 50 bp y/y, with the former on ...

Nordea • 14 Apr 2023 07:09

Elanders: Prel. Q1 adj. EBITA 6% below ABGSCe - ABG

Q1 adj. EBITA SEK 217m (-6% vs. ABGSCe, -4% vs. cons) Cons EBITA likely down 1%, but PTP et income down 4% Found a historical accounting err...

ABG Sundal Collier • 13 Apr 2023 08:50

Elanders: Q1 comps looking beatable - ABG

Q1 report due on Friday 21 April We expect margin expansion against easy comps '23e the 'cash flow year', lease adj.

ABG Sundal Collier • 04 Apr 2023 14:22

Elanders: Levererar klart bättre Q4 trots utmanande omvärld - Analysguiden

Elanders levererade ett starkt resultat under Q4 och genomför åtgärder för förbättrad lönsamhet men ökade räntekostnader drar i motsatt rikt...

Analysguiden • 20 Feb 2023 09:41

Elanders: Börjar se tecken på förändringar av försörjningskedjorna - Penser

Fortsatt god marknad, marginalerna fortsatte expandera Efterfrågan var generellt god under kvartalet, men skiftade från månad till månad mel...

Penser • 26 Jan 2023 07:58

Elanders: Cash will be king in 2023 - ABG

Higher net financials weigh on '23e-'24e net profit.

ABG Sundal Collier • 24 Jan 2023 10:18

Elanders: Beats cons. by 5% on adj. EBITA - ABG

Adj. EBITA SEK 331m (+5% vs. cons. 315m) We expect cons.

ABG Sundal Collier • 24 Jan 2023 08:50

Elanders: The nearshoring trend is finally here - Nordea

Elanders presented yet another solid report for Q4 2022, growing adjusted EBIT by 37% y/y.

Nordea • 24 Jan 2023 08:45

Elanders: Expecting high single-digit organic growth in Q4 - Nordea

We raise our adjusted EBIT estimates by 6% for 2023-24, mainly as a consequence of the implementation of structural measures for non-profita...

Nordea • 11 Jan 2023 07:55

Elanders: Solid growth in high-margin online print - ABG

Q4 report due on Monday, 23 January Discontinues unprofitable operations, '23e-'24e EBITA up 2% 11x '23e EV/EBITA (9x lease adj.

ABG Sundal Collier • 10 Jan 2023 08:35

Elanders: Structural measures that will strengthen margins - Nordea

Today, Elanders announced that it implements structural measures regarding non-profitable parts of the road transportation operations in Ger...

Nordea • 17 Dec 2022 18:37

Elanders: Betydande resultatlyft i en komplex miljö - Analysguiden

Elanders står stadigt och redovisar ett starkt resultat för Q3.

Analysguiden • 03 Nov 2022 12:45

Elanders: Höjer estimaten med 6-8% på en bra rapport - Penser

Inga tecken på vikande konjunktur utanför konsument Med 12% organisk tillväxt accelererade Elanders från 4% i Q2 och 2% i Q1.

Penser • 18 Oct 2022 11:02

Elanders: Staying calm in a stormy market - ABG

Impressive earnings despite a difficult market Adj.

ABG Sundal Collier • 18 Oct 2022 09:34

Elanders: Demand holding up better than feared - Nordea

Elanders presented a strong Q3 report, with group organic growth of 12% y/y and 81% adjusted EBIT growth, which we find impressive given the...

Nordea • 18 Oct 2022 08:23

Elanders: Expecting a solid Q3 but cautious outlook ahead - Nordea

Elanders will present its Q3 report on 17 October. We expect solid Q3 results, with a ~5% y/y increase in group organic sales, driven by bro...

Nordea • 12 Oct 2022 08:12

Elanders: Maintaining margins in Q3 looks difficult - ABG

Q3 report due on Monday, 17 October Transportation prices coming down, input costs still high 10x ’22e EV/EBITA (adj.

ABG Sundal Collier • 27 Sep 2022 07:49

Elanders: Ökade satsningar inom Life Cycle Management - Analysguiden

Q2 bjöd på fortsatt god efterfrågan från flertalet stora kunder, trots osäker makromiljö.

Analysguiden • 04 Aug 2022 11:01

Elanders: Marginalen fortsatte att expandera - Penser

Organiska tillväxten accelererade från Q2 Elanders rapporterade organisk tillväxt på 4% (2% i Q1'22) medan nyförvärvet Bergen Logistics uppg...

Penser • 14 Jul 2022 11:06

Elanders: Bergen the standout performer in a strong Q2 - ABG

Strong margin trend continued in Q2 We increase ’22e-’24e adj.

ABG Sundal Collier • 13 Jul 2022 07:28

Elanders: Cautiously optimistic heading into H2 - Nordea

Elanders presented a strong Q2 report, with 11% organic growth for Supply Chain Solutions, driven by new businesses and higher shipping rate...

Nordea • 13 Jul 2022 07:24

Elanders: Another quarter of delivering on margins - ABG

Adj. EBITA SEK 224m (+25% vs. ABGSCe 179m) Isolated Q2 numbers imply ~5% adj.

ABG Sundal Collier • 12 Jul 2022 08:59

Elanders: Continues to handle cost inflation - ABG

Q2 report due on Tuesday, 12 July Proved earnings resiliency in Q1, more of the same in Q2 10x ’22e EV/EBITA (adj.

ABG Sundal Collier • 05 Jul 2022 19:12

Elanders: Auto recovery but consumer uncertainty - Nordea

Elanders will present its Q2 report on 12 July. We expect a solid Q2 report with 4.

Nordea • 13 Jun 2022 07:36

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