Analyser av Humble Group

Humble Group - Return to M&A increasingly likely - ABG

Takeaways from the report The Q2 report was characterised by slightly higher organic growth than we have seen in the past year, partly as th...

ABG Sundal Collier • 20 Jul 21:22

Humble Group - A bit better than feared - ABG

Q2'25 outcome The Q2 report was above consensus' expectations.

ABG Sundal Collier • 18 Jul 09:08

Humble Group: A little bump in the road - ABG

- '25e-'27e adj. EBITA down 5-3% - Weaker UK retail sales could impede EBITA growth - '25e EV/adj.

ABG Sundal Collier • 11 Jul 08:19

Humble Group: Eyes on Q2 for higher organic growth q-o-q - ABG

'25e-'27e adj. EBITA down 3% Already strong gross margin in Q1 can turn even stronger in H2 ~9x '25e EV/EBITA is ~40% below peers Takeaways...

ABG Sundal Collier • 30 Apr 10:03

Humble Group: Gross margin impresses - ABG

Sales 1% below cons, adj. EBITA in line with cons Consensus EBITA estimate revisions flat to slightly up To enter cash flow yielding phase i...

ABG Sundal Collier • 29 Apr 14:38

Humble Group: FX movements weigh on estimates - ABG

'25e-'27e EBITA down 13-8% Adverse impact from stronger SEK '25e EV/EBITA ~8x, ~50% below peers What to expect in Q1'25 We expect sales of ...

ABG Sundal Collier • 17 Apr 07:25

Humble Group: Expect better cash flow in 2025 - ABG

'25e-'26e adj. EBITA down 3% Latent working capital release likely in Q1'25 '25e EV/EBITA of 9x is ~40% below peer average Takeaways from t...

ABG Sundal Collier • 20 Feb 09:42

Humble Group: Ready and set for acquisitions in 2025 - ABG

Sales in line with cons, adj. EBITA -7% vs cons Consensus EBITA estimate revisions slightly negative Acquisitions back on the agenda again ...

ABG Sundal Collier • 19 Feb 09:05

Humble Group: Red Sea prevents gross margin expansion - ABG

'25e-'26e EBITA down 7-5% Freight rate normalisation required for better gross margins '25e EV/EBITA ~9x, ~40% below peers What to expect i...

ABG Sundal Collier • 17 Feb 07:24

Humble Group: Earnings growth starting to materialise - ABG

'24e-'26e adj. EBITA up 1% Limited opex investments to help drive EBITA growth '25e EV/EBITA of 9x is ~40% below peer average Takeaways fro...

ABG Sundal Collier • 01 Nov 2024 07:28

Humble Group: Improved profitability ahead - ABG

Sales +1% vs cons, adj. EBITA +1% vs cons Cons. EBITA estimate revisions slightly positive Improved gross margin despite headwinds Q3'24 ou...

ABG Sundal Collier • 31 Oct 2024 10:59

Humble Group: Set for accelerated growth in '25e - ABG

Minor estimate revisions Falling freight rates positive for Humble's gross margin '25e EV/EBITA ~9x, ~40% below peers What to expect in Q3'...

ABG Sundal Collier • 22 Oct 2024 07:29

Humble Group: CMD takeaways - ABG

Presented a clear and detailed operating blueprint SEK 3.

ABG Sundal Collier • 20 Sep 2024 08:08

Humble Group: A combination of growth and margin expansion - ABG

- '24e-'25e EBITA down 2-3% - Capacity investments to aid organic growth - '25e lease adj.

ABG Sundal Collier • 25 Jul 2024 08:29

Humble Group: Solid quarter without surprises - ABG

- Organic growth of 9% vs. cons. 9.5% - Adj. EBITA SEK 141m, 3% below consensus - Gross margin gains offset by capacity and marketing invest...

ABG Sundal Collier • 24 Jul 2024 09:05

Humble Group: Freight costs rule gross margins - ABG

- Rising freight rates dilute the gross margin - '24e-'26e EBITA down 5-1% - '24e-'25e lease adj.

ABG Sundal Collier • 17 Jul 2024 08:26

Humble Group: Doing all the right things - ABG

'24e-'26e EBITA down 7-1%... ...primarily due to changes in capitalisation policy '24e-'25e lease adj.

ABG Sundal Collier • 03 May 2024 07:15

Humble Group Q1: Solid gross margin, miss on EBITA - ABG

Organic growth of 11% vs. cons. 10% Adj. EBITA SEK 128m, 13% below consensus Gross margin recovery increasingly evident Q1'24 outcome Q1 sa...

ABG Sundal Collier • 02 May 2024 10:55

Humble Group: Gross margin headwinds persist - ABG

- Gross margin est. down on continually elevated freight rates - '24e-'26e EBITA down 4-2% - '24e-'25e lease adj.

ABG Sundal Collier • 26 Apr 2024 15:07

Humble Group: Capacity increases to pay off in H2'24 - ABG

Marginal estimate changes Gross margin improvements still on the horizon '24e-'25e lease adj.

ABG Sundal Collier • 20 Feb 2024 07:54

Humble Group: Positive gross margin surprise - ABG

Organic growth of 18% vs. cons. 9% Adj. EBITA SEK 162m, 2% below cons, in line with ABGSCe Surprisingly strong gross margin Q4'23 outcome Q...

ABG Sundal Collier • 19 Feb 2024 09:01

Humble Group: Temporary headwinds ahead - ABG

'23e-'25e EBITA down 8-3% Gross margin recovery hampered by Red Sea tensions '24e-'25e lease adj.

ABG Sundal Collier • 22 Jan 2024 09:04

Humble Group: Less M&A, more cash flow ahead - ABG

Minor estimate changes Gross margin improvements still on the horizon '24e lease adj.

ABG Sundal Collier • 03 Nov 2023 09:03

Humble Group: Strong cash flow despite gross margin lag - ABG

Organic growth of 12% vs. ABGSCe 13% Adj. EBITA SEK 158m, 2% above ABGSCe Strong operating cash flow Q3'23 outcome Q3 sales came in at SEK ...

ABG Sundal Collier • 02 Nov 2023 09:27

Humble Group: More than just bamboo toothbrushes - ABG

Minor estimate changes Expect an array of one-offs related to refinancing '24e lease adj.

ABG Sundal Collier • 20 Oct 2023 07:16

Humble Group: H2'23e: all eyes on margins and price increases - ABG

- We raise '23e-'25e EBITA by 1% - Cash flow beat: three for three - '24e-'25e lease adj.

ABG Sundal Collier • 26 Jul 2023 08:09

Humble Group Q2: Beats on topline and earnings - ABG

• Organic growth of 13% vs. ABGSCe 16% • Adj. EBITA SEK 141m, 9% above ABGSCe • We expect cons.

ABG Sundal Collier • 25 Jul 2023 09:21

Humble Group: Strong growth with some margin compression - ABG

- We cut '23e-'25e EBITA by 11-3% - Equity issue eases leverage - '24e FCF yield of 5.

ABG Sundal Collier • 10 Jul 2023 08:37

Humble Group: Capital structure reshuffling opens doors - ABG

SEK 875m directed share issue Proforma deleveraging from ~3.

ABG Sundal Collier • 21 Jun 2023 07:37

Humble Group: A sweet start to the year - ABG

We raise '23e-'25e EBITA by 2% Cash flow generation is evident '23e EV/EBITA at ~8x Q1'23 report The Q1 report surprised us positively with...

ABG Sundal Collier • 05 May 2023 09:04

Humble Group - Q1: beat on sales and earnings - ABG

Proforma org. growth of 20% vs. ABGSCe 18% Focus on operating excellence going forward We expect cons.

ABG Sundal Collier • 04 May 2023 09:43

Humble Group: Macro beginning to look more appetising - ABG

We cut '23e-'25e EBITA by 12-8% Some macro factors starting to ease '23e EV/EBITA at 7.

ABG Sundal Collier • 25 Apr 2023 09:20

Humble Group: Quite the treat - ABG

Strong organic growth continues Cash flow better than we expected '23e EV/EBITA ~8x Q4 report Due to the change to IFRS and the fact that a...

ABG Sundal Collier • 23 Feb 2023 09:46

Humble Group - Q4: solid performance and cash flow - ABG

Q4 outcome Q4 sales came in at SEK 1,606m (+88% y-o-y growth, driven largely by acquisitions) and adj.

ABG Sundal Collier • 22 Feb 2023 09:03

Humble Group: From rocky road to smooth sailing - ABG

CPI-PPI gap is shrinking - positive for '23e margins Q4'22e sales up 3%, EBITDA down 8% New bolt-ons a sign of confidence for cash flow Q4'...

ABG Sundal Collier • 07 Feb 2023 07:43

Humble Group: Complementary Privab acquisitions - ABG

Adds annual sales of SEK 498m, 28m EBITDA Marginal impact on financial position and leverage Financed with a mix of cash and shares Descrip...

ABG Sundal Collier • 17 Jan 2023 07:39

Humble: Stark omsättningstillväxt men bruttomarginal pressas - Penser

Stark omsättningstillväxt Nettoomsättningen i kvartalet uppgick till 1 354 mkr, proforma uppgick omsättningen till 1 654 mkr.

Penser • 05 Dec 2022 11:11

Humble Group: Set for an exciting Q4 - ABG

‘23e-‘24e EBITA estimates up 5% Working capital build-up sets high Q4 expectations Share trading at EV/EBITA ‘23e-‘24e 9-7x Key takes from t...

ABG Sundal Collier • 24 Nov 2022 08:20

Humble Group - Q3 beats expectations - ABG

Sales of SEK 1,354m, +12% vs ABGSCe EBITA of SEK 108m, +18% vs ABGSCe We expect cons.

ABG Sundal Collier • 23 Nov 2022 09:20

Humble Group: Det kostar att växa snabbt - Penser

Fortsatt stark organisk tillväxt i Q2 Humble redovisade en nettoomsättning proforma om 1,55 mdkr vilket indikerar en organisk tillväxt på 23...

Penser • 29 Aug 2022 11:19

Humble Group: Positioned in the sweet spot - ABG

Keeps steady acquisition pace Well positioned for a tougher market Currently trading at 10-8x EV/EBITA ’23e-‘24e Key takes from the Q2 repor...

ABG Sundal Collier • 26 Aug 2022 11:18

Humble Group: Proforma organic growth of 23% - ABG

Adj. EBITA slightly below expectations Continued strong organic growth of 44% Solid outlook with continuous growth and potential deal Q2’22 ...

ABG Sundal Collier • 24 Aug 2022 10:04

Humble Group: Walking the talk: a busy start to 2022 - ABG

An eventful start to 2022 Q2’22 report due on 24 August Valuation down to around 14x-12x EV/EBITA (’22e-‘23e) An eventful H1’22 Humble ha...

ABG Sundal Collier • 10 Aug 2022 08:52

Humble Group: A sweet start to the year - ABG

Q1 report in line with preliminary figures… …with a strong performance across the board Value range intact at SEK 24-43 per share Q1’22 key...

ABG Sundal Collier • 27 May 2022 07:53

Humble Group: Stark organisk tillväxt på 25% i Q1 - Penser

Fin start på 2022 trots säsongsmässigt svagt första kvartal Humble Group rapporterade nettoomsättning om 897 mkr och justerad EBITDA om 102 ...

Penser • 25 May 2022 10:59

Humble Group: Performing strong in seasonally soft quarter - ABG

Q1 report in line with prel. numbers Continued strong org.

ABG Sundal Collier • 25 May 2022 10:12

Humble Group: Firing up for further growth and M&A - ABG

Q1 report due on Wednesday 25 May… …but the preliminary Q1 numbers are already out We expect sales of SEK 897m and adj.

ABG Sundal Collier • 10 May 2022 14:38

Humble Group: Pre-announcing Q1 numbers - ABG

Expecting sales of SEK 875-925m (vs ABGSCe 871m) … … and adj.

ABG Sundal Collier • 29 Apr 2022 07:40

Humble: Välpositionerad för fortsatt stark tillväxt - Penser

Stark lönsamhet avslutade 2021 Nettoomsättningen för 2021 blev 1,52 mdkr vilket var i linje med vår förväntan.

Penser • 28 Feb 2022 11:32

Analyst Group kommenterar Humble Groups Q4-rapport

Humble Group publicerade den 25 februari 2022 bolaget delårsrapport för fjärde kvartalet 2021.

Analyst Group • 25 Feb 2022 14:26

Humble Group: Lägger i nästa växel - Analyst Group

Humble har på kort tid transformerats från ett icke-lönsamt ingrediensteknologibolag till en snabbväxande och lönsam FMCG-koncern som tillha...

Analyst Group • 06 Dec 2021 08:44

Humble Group: Leverar stark tillväxt och EBITDA-marginal - Penser

Tillväxten accelererar Nettoomsättningen uppgick till 3,4 mdkr och justerad EBITDA till 449 mkr på rullande 12 månaders proformabasis.

Penser • 29 Nov 2021 11:08

Analyst Group kommenterar Humble Groups Q3-rapport

Humble Group publicerade den 26 november 2021 bolaget delårsrapport för tredje kvartalet 2021.

Analyst Group • 29 Nov 2021 07:41

Humble Group: Rivstartar bygget av framtidens FMCG-grupp - Penser

Humbles styrkepositioner är underskattade Humble har snabbt byggt en stark global marknadsnärvaro i de nya och snabbt växande områdena inom ...

Penser • 08 Nov 2021 11:29

Analyst Group kommenterar Humble Groups förvärv av Swedish Food Group

Humble Group AB kommunicerade under fredagen den 10 september 2021 att Bolaget förvärvar Swedish Food Group (”SFG”), som är en Food Tech-kon...

Analyst Group • 13 Sep 2021 14:22

Humble: Fortsätter exekvera på sin förvärvsstrategi - Analyst Group

Humble har på kort tid transformerats från ett icke-lönsamt ingrediensteknologibolag till en snabbväxande och lönsam Food Tech-koncern som v...

Analyst Group • 02 Sep 2021 16:06

Kommentar på Humble Groups Q2-rapport

Humble Group publicerade den 27 augusti 2021 sin delårsrapport för andra kvartalet 2021.

Analyst Group • 27 Aug 2021 15:39