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1. Company Snapshot

1.a. Company Description

Rejlers AB (publ) provides technical and engineering consultancy services in Sweden, Finland, Norway, and the United Arab Emirates.It serves energy, buildings, industry, telecom, and infrastructure sectors.The company was formerly known as Rejlerkoncernen AB and changed its name to Rejlers AB (publ) in July 2013.


Rejlers AB (publ) was founded in 1942 and is headquartered in Stockholm, Sweden.

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1.b. Last Insights on REJL

Rejlers AB's recent performance has been positively driven by robust growth projections, with forecast earnings and revenue growth rates of 17.54% and 5.2% per year, outpacing the broader Swedish market. The company's strong fundamentals and resilience position it as a promising small-cap stock. A recent report highlighted Rejlers as an undiscovered gem in Europe, characterized by its potential for growth. Additionally, the pan-European STOXX Europe 600 Index's positive momentum, amid expectations of a potential interest rate cut, has created a favorable market environment.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Rejlers (OM:REJL B): SEK74.2m One-Off Loss Challenges Earnings Quality Narrative

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.53%)

6. Segments

Rejlers Sweden

Expected Growth: 5%

Rejlers Sweden's 5% growth is driven by increasing demand for digitalization and sustainability services in the Swedish infrastructure and real estate markets. Strong order intake, efficient project execution, and strategic acquisitions also contribute to growth. Furthermore, the segment benefits from a stable Swedish economy and government investments in infrastructure development.

Rejlers Finland

Expected Growth: 4%

Rejlers Finland's 4% growth is driven by increasing demand for digitalization and sustainability services in the Finnish infrastructure and real estate markets. Strong project execution, strategic partnerships, and investments in employee development also contribute to growth. Additionally, the Finnish government's focus on infrastructure development and green initiatives creates a favorable business environment, supporting Rejlers Finland's expansion.

Rejlers Norway

Expected Growth: 4%

Rejlers Norway's 4% growth is driven by increasing demand for digitalization and sustainability services in the Norwegian market, coupled with the company's strong reputation and expertise in the infrastructure and property sectors. Additionally, strategic acquisitions and investments in emerging technologies have enabled the company to expand its service offerings and capitalize on new opportunities.

Eliminations

Expected Growth: 0%

With 0% growth, Eliminations from Rejlers AB (publ) is likely due to stagnant market conditions, lack of innovation, and intense competition. The company may be facing challenges in expanding its customer base, and its product/service offerings may not be differentiated enough to drive growth. Additionally, high operating costs and inefficient cost structures could be hindering the company's ability to invest in growth initiatives.

Group-wide

Expected Growth: 5%

Rejlers AB's 5% group-wide growth is driven by increasing demand for digitalization and sustainability services, expansion into new markets, and strategic acquisitions. Additionally, the company's focus on innovation, operational efficiency, and cost savings initiatives contribute to its growth. Strong order intake and a solid financial position also support the company's growth momentum.

7. Detailed Products

Energy

Rejlers AB (publ) provides energy-related services, including energy efficiency, renewable energy, and energy management solutions.

Industry

Rejlers AB (publ) offers industrial automation and digitalization solutions, including process optimization, automation, and IoT services.

Infrastructure

Rejlers AB (publ) provides infrastructure planning, design, and consulting services for transportation, urban planning, and construction projects.

Real Estate

Rejlers AB (publ) offers real estate consulting services, including property development, project management, and construction management.

Telecom

Rejlers AB (publ) provides telecommunications consulting services, including network design, implementation, and optimization.

8. Rejlers AB (publ)'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Rejlers AB (publ) is moderate due to the presence of alternative engineering consulting services and solutions.

Bargaining Power Of Customers

The bargaining power of customers is low due to the specialized nature of Rejlers' services, which limits customers' ability to negotiate prices.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate due to the presence of multiple suppliers of engineering consulting services, but Rejlers' large scale of operations gives it some negotiating power.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the engineering consulting industry, including the need for specialized expertise and significant capital investment.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of several established players in the engineering consulting industry, leading to intense competition for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 27.45%
Debt Cost 5.48%
Equity Weight 72.55%
Equity Cost 9.36%
WACC 8.29%
Leverage 37.83%

11. Quality Control: Rejlers AB (publ) passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Science Group

A-Score: 7.0/10

Value: 6.4

Growth: 7.6

Quality: 8.7

Yield: 1.9

Momentum: 8.0

Volatility: 9.7

1-Year Total Return ->

View Full Report
Stock-Card
Rejlers

A-Score: 6.3/10

Value: 5.1

Growth: 7.0

Quality: 6.2

Yield: 5.0

Momentum: 8.0

Volatility: 6.7

1-Year Total Return ->

View Full Report
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BTS Group

A-Score: 5.0/10

Value: 5.9

Growth: 7.4

Quality: 7.8

Yield: 4.4

Momentum: 0.5

Volatility: 4.0

1-Year Total Return ->

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Enento

A-Score: 4.9/10

Value: 4.1

Growth: 3.3

Quality: 5.4

Yield: 6.9

Momentum: 1.5

Volatility: 8.3

1-Year Total Return ->

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Fintel

A-Score: 3.5/10

Value: 2.8

Growth: 3.1

Quality: 6.0

Yield: 2.5

Momentum: 3.0

Volatility: 3.3

1-Year Total Return ->

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GlobalData

A-Score: 3.4/10

Value: 2.8

Growth: 7.6

Quality: 5.7

Yield: 2.5

Momentum: 0.0

Volatility: 1.7

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

199.8$

Current Price

199.8$

Potential

-0.00%

Expected Cash-Flows