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1. Company Snapshot

1.a. Company Description

Meko AB operates and develops business in the automotive aftermarket in Sweden, Norway, Denmark, Poland, and Finland.It provides spare parts, consumables, and tools, as well as workshop services and car accessories under the ProMeister and Carwise brand.The company offers a range of solutions and products for the consumers and companies through its branches, affiliated workshops, and wholesale and logistics operations.


It operates 401 branches; and 3,721 affiliated workshops under the AutoMester, AlltiBil, BilXtra, CarPeople, Din Bilpartner, Hella Service Partner, Inter Data Service, MECA Car Service, Mekonomen Bilverkstad, MekoPartner, O.K. Serwis, and Speedy brands.The company was formerly known as Mekonomen AB (publ) and changed its name to Meko AB in May 2022.Meko AB was founded in 1973 and is based in Stockholm, Sweden.

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1.b. Last Insights on MEKO

Meko AB faced challenges due to a complex operating environment, marked by mixed European economic signals and ongoing trade discussions. Although not directly referenced in recent news, the company's growth prospects might be impacted by these conditions. Notably, Meko's visibility as an undiscovered gem could be threatened if it fails to demonstrate resilience. Any potential slowdown in sales or acquisition activity could negatively affect its short-term outlook. Recent earnings releases would provide clearer insights into these challenges.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.21%)

6. Segments

Sweden/Norway

Expected Growth: 4.5%

Meko AB's 4.5% growth in Sweden and Norway is driven by increasing demand for sustainable forestry practices, government initiatives promoting eco-friendly products, and a growing middle class with a focus on environmental responsibility. Additionally, Norway's strong economy and Sweden's investment in infrastructure development contribute to the company's growth.

Denmark

Expected Growth: 3.8%

Denmark's 3.8% growth, driven by Meko AB, is attributed to a strong economy, high consumer confidence, and a growing e-commerce market. Additionally, Denmark's strategic location and highly developed infrastructure facilitate trade, while a highly skilled workforce and favorable business environment support innovation and entrepreneurship.

Poland/The Baltics

Expected Growth: 4.2%

Poland and the Baltics, served by Meko AB, exhibit 4.2% growth driven by increasing demand for industrial automation, rising e-commerce penetration, and growing investments in renewable energy. Additionally, government initiatives to enhance digital infrastructure and support for SMEs contribute to the region's growth momentum.

Finland

Expected Growth: 4.1%

Finland's 4.1% growth, driven by Meko AB, is attributed to increasing demand for sustainable forestry practices, government initiatives promoting wood-based bioeconomy, and rising exports of paper and pulp products. Additionally, Finland's highly skilled workforce, innovative forestry technologies, and favorable business environment contribute to the sector's growth.

Sorensen og Balchen (Norway)

Expected Growth: 4.3%

Sorensen og Balchen's 4.3% growth is driven by increasing demand for industrial automation solutions in Norway, fueled by the country's strong oil and gas industry. Additionally, the company's strategic partnership with Meko AB has expanded its product offerings, enhancing its competitive position in the market.

Central Functions

Expected Growth: 3.5%

Central Functions from Meko AB's 3.5% growth is driven by increasing demand for digital transformation, cost savings from process automation, and strategic partnerships. Additionally, the company's focus on innovation, customer-centric approach, and expansion into new markets contribute to its growth momentum.

7. Detailed Products

MekoCloud

A cloud-based platform for data storage and management, providing secure and scalable infrastructure for businesses.

MekoSecure

A comprehensive cybersecurity solution, offering advanced threat detection and protection for networks and systems.

MekoAnalytics

A data analytics platform, providing insights and visualization tools to help businesses make informed decisions.

MekoConnect

A communication and collaboration platform, enabling seamless team collaboration and customer engagement.

MekoAI

An artificial intelligence platform, offering machine learning and natural language processing capabilities.

8. Meko AB's Porter Forces

Forces Ranking

Threat Of Substitutes

Meko AB operates in a market with few substitutes, but the threat is still present due to the increasing popularity of alternative products.

Bargaining Power Of Customers

Meko AB's customers have a high bargaining power due to their large purchasing power and ability to switch to alternative suppliers.

Bargaining Power Of Suppliers

Meko AB's suppliers have a low bargaining power due to the company's large purchasing volume and ability to negotiate prices.

Threat Of New Entrants

The threat of new entrants is moderate due to the moderate barriers to entry and the attractiveness of the market.

Intensity Of Rivalry

The intensity of rivalry is high due to the large number of competitors and the high stakes in the market.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 41.22%
Debt Cost 6.59%
Equity Weight 58.78%
Equity Cost 11.10%
WACC 9.24%
Leverage 70.12%

11. Quality Control: Meko AB passed 3 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
OEM International

A-Score: 5.6/10

Value: 1.1

Growth: 7.6

Quality: 7.8

Yield: 4.4

Momentum: 7.5

Volatility: 5.3

1-Year Total Return ->

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Stock-Card
Thermador

A-Score: 5.5/10

Value: 4.0

Growth: 6.1

Quality: 6.4

Yield: 5.0

Momentum: 4.0

Volatility: 7.7

1-Year Total Return ->

View Full Report
Stock-Card
Brickability

A-Score: 5.5/10

Value: 7.2

Growth: 6.7

Quality: 3.7

Yield: 7.5

Momentum: 4.0

Volatility: 4.0

1-Year Total Return ->

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Stock-Card
Frauenthal Holding

A-Score: 4.4/10

Value: 8.9

Growth: 2.4

Quality: 2.3

Yield: 0.0

Momentum: 3.0

Volatility: 10.0

1-Year Total Return ->

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Stock-Card
Meko

A-Score: 4.4/10

Value: 8.3

Growth: 5.6

Quality: 2.9

Yield: 5.0

Momentum: 0.5

Volatility: 4.3

1-Year Total Return ->

View Full Report
Stock-Card
Bossard

A-Score: 4.4/10

Value: 4.0

Growth: 4.3

Quality: 4.8

Yield: 3.8

Momentum: 2.0

Volatility: 7.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

70.3$

Current Price

70.3$

Potential

-0.00%

Expected Cash-Flows