Movinn: Improved Profitability in Sight - Analyst Group
Movinn A/S (“Movinn” or the “Company”) continued to demonstrate growth during the third quarter of 2023, amounting to 9% Y-Y. However, margins continue to be impacted by high vacancy rates, with the EBITDA margin (from operations) reaching 1.4%. The Company has taken measures to enhance profitability, which, combined with a more favorable macroeconomic environment, is expected to strengthen profitability starting from Q1-24. With an estimated EBITDA of DKK 8.9m in 2024, an applied target multiple of EV/EBITDA 15x, and a discount rate of 10.9%, a net present potential value per share of DKK 6.5 (7.5) is derived in a Base scenario.
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