Stock MTRS MUNTERS GROUP AB
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Financials Munters Group AB

Equities

MTRS

SE0009806607

Electrical Components & Equipment

Market Closed - Nasdaq Stockholm
Other stock markets
 11:29:35 2024-04-26 EDT 		5-day change 1st Jan Change
222.2 SEK +2.87% Intraday chart for Munters Group AB +26.11% +35.90%
04-24 Munters Group AB Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
04-23 Transcript : Munters Group AB, Q1 2024 Earnings Call, Apr 23, 2024

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 8,916 15,099 12,701 18,713 29,837 40,559 - -
Enterprise Value (EV) 1 11,691 17,215 15,090 22,538 34,457 44,818 44,169 43,378
P/E ratio -53.9 x 35.8 x 24.9 x 32.5 x 38 x 32.6 x 26.4 x 23.4 x
Yield - 0.84% 1.22% 0.92% 0.8% 0.98% 1.16% 1.29%
Capitalization / Revenue 1.25 x 2.15 x 1.73 x 1.8 x 2.14 x 2.52 x 2.3 x 2.21 x
EV / Revenue 1.63 x 2.45 x 2.05 x 2.17 x 2.47 x 2.78 x 2.51 x 2.37 x
EV / EBITDA 9.14 x 14.2 x 13.7 x 16.9 x 15.9 x 17.3 x 15 x 13.4 x
EV / FCF 24.6 x 22.7 x 85.3 x 96.7 x 87 x 79.1 x 35.4 x 29.9 x
FCF Yield 4.06% 4.41% 1.17% 1.03% 1.15% 1.26% 2.83% 3.34%
Price to Book 2.46 x 4.02 x 2.92 x 3.53 x 5.68 x 6.39 x 5.02 x 4.6 x
Nbr of stocks (in thousands) 181,746 181,921 181,575 181,857 182,491 182,533 - -
Reference price 2 49.06 83.00 69.95 102.9 163.5 222.2 222.2 222.2
Announcement Date 20-02-13 21-02-04 22-02-04 23-02-09 24-01-21 - - -
1SEK in Million2SEK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 7,153 7,015 7,348 10,386 13,930 16,102 17,616 18,312
EBITDA 1 1,279 1,213 1,105 1,332 2,166 2,585 2,938 3,228
EBIT 1 556 707 753 881 1,586 2,001 2,294 2,456
Operating Margin 7.77% 10.08% 10.25% 8.48% 11.39% 12.42% 13.02% 13.41%
Earnings before Tax (EBT) 1 367 552 668 739 1,255 1,677 2,014 2,269
Net income 1 -166 420 513 577 792 1,263 1,534 1,732
Net margin -2.32% 5.99% 6.98% 5.56% 5.69% 7.85% 8.71% 9.46%
EPS 2 -0.9100 2.320 2.810 3.170 4.300 6.826 8.425 9.501
Free Cash Flow 1 475 760 177 233 396 566.4 1,249 1,450
FCF margin 6.64% 10.83% 2.41% 2.24% 2.84% 3.52% 7.09% 7.92%
FCF Conversion (EBITDA) 37.14% 62.65% 16.02% 17.49% 18.28% 21.91% 42.51% 44.9%
FCF Conversion (Net income) - 180.95% 34.5% 40.38% 50% 44.83% 81.4% 83.7%
Dividend per Share 2 - 0.7000 0.8500 0.9500 1.300 2.173 2.570 2.861
Announcement Date 20-02-13 21-02-04 22-02-04 23-02-09 24-01-21 - - -
1SEK in Million2SEK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 2,057 2,121 2,610 2,644 3,011 3,175 3,536 3,560 3,659 3,538 4,167 4,322 4,314 - -
EBITDA 1 274 260 332 359 381 462 561 587 556 582 696.2 734.1 711.4 - -
EBIT 1 190 134 220 271 255 349 408 454 375 412 566.6 601 578.5 - -
Operating Margin 9.24% 6.32% 8.43% 10.25% 8.47% 10.99% 11.54% 12.75% 10.25% 11.64% 13.6% 13.9% 13.41% - -
Earnings before Tax (EBT) 1 176 112 205 230 192 276 342 362 276 325 472 511.2 476 467.6 584
Net income 133 104 169 176 128 - - 260 58 218 - - - - -
Net margin 6.47% 4.9% 6.48% 6.66% 4.25% - - 7.3% 1.59% 6.16% - - - - -
EPS 2 0.7300 0.5700 0.9300 0.9700 0.7000 1.180 1.400 1.420 0.3000 1.190 1.967 2.131 1.984 1.949 2.434
Dividend per Share - - - - - - - - 1.300 - - - 2.250 - -
Announcement Date 22-02-04 22-04-22 22-07-15 22-10-21 23-02-09 23-04-21 23-07-18 23-10-24 24-01-21 24-04-23 - - - - -
1SEK in Million2SEK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,775 2,116 2,389 3,825 4,620 4,259 3,610 2,819
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.17 x 1.744 x 2.162 x 2.872 x 2.133 x 1.647 x 1.229 x 0.8732 x
Free Cash Flow 1 475 760 177 233 396 566 1,249 1,450
ROE (net income / shareholders' equity) 16.2% 15.8% 12.7% 11.9% 16.7% 20.9% 20.8% 21.6%
ROA (Net income/ Total Assets) 6.16% 5.91% 5.05% 4.41% 4.96% 6.29% 8.06% 7.56%
Assets 1 -2,696 7,109 10,158 13,081 15,967 20,079 19,028 22,898
Book Value Per Share 2 20.00 20.60 23.90 29.10 28.80 34.80 44.20 48.30
Cash Flow per Share 2 3.680 5.380 - - 5.850 0.4300 6.660 8.460
Capex 1 194 217 342 539 670 657 847 816
Capex / Sales 2.71% 3.09% 4.65% 5.19% 4.81% 4.08% 4.81% 4.45%
Announcement Date 20-02-13 21-02-04 22-02-04 23-02-09 24-01-21 - - -
1SEK in Million2SEK
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Munters Group AB

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
222.2 SEK
Average target price
196.2 SEK
Spread / Average Target
-11.68%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Heating, Ventilation & Air Conditioning Systems

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Heating, Ventilation & Air Conditioning Systems
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