Analyser av Relais Group

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Relais (Q3 review): Earnings beat, Technical Wholesale lags - Redeye

Redeye updates its estimates and valuation after Relais' Q3 2026 report.

Relais: Solid Q3 despite a softer market - Nordea

Relais' Q3 adjusted EBITA of EUR 11.5m was 5% above Modular Finance consensus.

Relais (Q3 initial take): Two strong business areas, Technical Wholesale holds it back - Redeye

Redeye provides its initial take on Relais' Q3 2026 report, which showed net sales 4% below our estimate and 1% below consensus, while adjus...

Redeye • 28 okt 08:57

Relais: Slight adjusted EBITA beat despite market softness - Nordea

Relais Q3 adjusted EBITA of EUR 11.5m was up 5% y/y and came 5% above Modular Finance consensus of EUR 11m.

Nordea • 28 okt 08:51

Relais Group: High fuel costs could have an indirect impact - Nordea

Ahead of Relais' Q3 results, we take a more cautious near-term view, given the changes in fuel prices in the Nordics and the ongoing organic...

Nordea • 22 okt 07:59

Relais: New CFO announced - Nordea

Relais announced today that Joonas Mäkipeska has been appointed as a new CFO, starting no later than February 2027.

Nordea • 14 sep 14:01

Relais (Q2 review): Taking growth initiatives - Redeye

Redeye updates its estimates and valuation after Relais’ Q2 2026 report.

Redeye • 21 aug 07:08

Relais Group: Organic growth initiatives visible in near-term earnings - Nordea

Relais' Q2 adjusted EBITA of EUR 8m fell 14% short of Modular Finance consensus despite a 2% top-line beat.

Nordea • 14 aug 07:13

Relais: Solid top line development while costs above expectations - Nordea

Relais Q2 adjusted EBITA of EUR 8m was up 6% y/y and came 14% below Modular Finance consensus of EUR 9.

Nordea • 13 aug 09:00

Relais: Seasonally slower quarter ahead - Nordea

Ahead of Relais' Q2 report, we include the tershine acquisition in our estimates and take a slightly more cautious near-term view on a seaso...

Nordea • 30 jul 07:06

Relais: Expansion of vehicle care offering through acquisition of tershine - Nordea

Relais is acquiring 70% of vehicle care company tershine from its founder and entrepreneur who will continue to lead tershine.

Nordea • 28 jul 08:52

Relais: Director of M&A and Business Development promoted as interim CFO - Nordea

Director of M&A and Business Development, Sebastian Seppänen, has been appointed as interim CFO of Relais.

Nordea • 17 jun 09:25

Relais: CMD pinpointing importance of capital returns - Nordea

Relais hosted its first ever CMD yesterday. Overall, the focus is clearly around capital allocation, which we view logical following the acq...

Nordea • 21 maj 07:49

Relais: New financial targets largely in line with expectations - Nordea

Ahead of its CMD today, Relais updated its strategy for 2026-28 and provides new financial targets.

Nordea • 20 maj 09:46

Relais (Q1 review): Top-line beat driven by winter tailwinds - Redeye

Redeye updates its estimates and valuation after Relais’ Q1 2026 report.

Redeye • 18 maj 07:04

Relais Group: Further improvement potential for 2026 - Nordea

Relais' Q1 2026 adjusted EBITA of EUR 12.8m was 5% above Modular Finance consensus and sales were 4% ahead.

Nordea • 15 maj 07:11

Relais: Solid start to the year driven by acquisitions and robust organic development - Nordea

Relais Q1 adjusted EBITA of EUR 12.8m was up 40% y/y and came 5% above Modular Finance consensus of EUR 12.

Nordea • 13 maj 09:24

Relais Group: Cold winter to support earnings - Nordea

Ahead of Relais' Q1 report, we make only minor estimate revisions and derive a higher DCF- and multiples-based fair value range of EUR 17.

Nordea • 06 maj 07:08

Relais (Q4 review): Stable performance despite challenges - Redeye

Redeye updates its estimates and valuation after Relais’ Q4 2025 report.

Redeye • 18 feb 09:44

Relais Group: We expect margins to rebound in H1 - Nordea

Relais' Q4 was soft, with the top line and adjusted EBITA below LSEG Data & Analytics consensus.

Nordea • 16 feb 07:27

Relais (Q4 initial take): Solid profitability, softer organic growth - Redeye

Redeye provides its initial take on Relais’ Q4 2025 report, which featured an adjusted EBITA that aligned with our projection but a slightly...

Redeye • 13 feb 09:50

Relais Group: Soft demand visible in Q4 earnings - Nordea

Relais Q4 adjusted EBITA of EUR 10.8m was up 2% y/y and came 16% below LSEG Data & Analytics consensus of EUR 12.

Nordea • 13 feb 09:50

Relais: Weather impacting near-term earnings - Nordea

Relais outperformed the market in Q3 and we expect a similar performance for Q4.

Nordea • 10 feb 07:27

Relais Group: Tentative signs of market improvement - Nordea

Relais' Q3 adjusted EBITA came in slightly below LSEG Data & Analytics consensus.

Nordea • 23 okt 2025 07:14

Relais (Q3 review): Solid adjusted EBITA and organic growth - Redeye

Redeye updates its estimates and valuation after Relais’ Q3 2025 report.

Redeye • 22 okt 2025 15:09

Relais: A slight EBITA miss despite solid 4% organic growth - Nordea

Relais Q3 adjusted EBITA of EUR 10.9m was up 19% y/y and came 5% below LSEG Data & Analytics consensus of EUR 11.

Nordea • 22 okt 2025 09:58

Relais (Q3 initial take): Adjusted EBITA in line, solid organic growth - Redeye

Redeye provides its initial take on Relais’ Q3 2025 report, which featured an adjusted EBITA that aligned with our projection and solid orga...

Redeye • 22 okt 2025 09:55

Relais: New CEO starting in January - Nordea

Relais announced today that Christian Johansson Gebauer, former head of Ratos Construction & Services (SEK 16bn sales and SEK 1.

Nordea • 21 okt 2025 11:11

Relais: We are slightly ahead of consensus for Q3 - Nordea

We maintain our estimates intact ahead of Relais Q3 report.

Nordea • 20 okt 2025 09:14

Relais Group: Adjusting estimates and valuation for hybrid bond - Redeye

Redeye updates its estimates for Relais’ recent hybrid bond issue.

Redeye • 22 sep 2025 16:01

Relais Group: Use leverage or be average - Redeye

Redeye provides an initial comment on Relais issuing cEUR50m in hybrid bonds to replace its recent bridge facility (cEUR37m) and for general...

Redeye • 19 sep 2025 07:57

Relais Group: More than meets the eye - Redeye

Redeye initiates coverage of Relais Group, an emerging serial acquirer in the European vehicle aftermarket space.

Redeye • 18 aug 2025 07:19

Relais: Focus shifting beyond 2025 - Nordea

Relais' Q2 adjusted EBITA came in well in line with LSEG Data & Analytics consensus expectations.

Nordea • 15 aug 2025 08:05

Relais: Q2 largely in line with expectations - market demand starting to improve in H2 - Nordea

Relais Q2 adjusted EBITA of EUR 7.6m was up 3% y/y and came 2% above LSEG Data & Analytics consensus of EUR 7.

Nordea • 14 aug 2025 09:02

Relais: Cautious markets and tough comps in Q2 - Nordea

Ahead of Relais' Q2 results, we incorporate its latest acquisitions into our estimates and adjust for FX and slightly softer-than-anticipate...

Nordea • 05 aug 2025 07:23

Relais: CEO to retire in 2026 - Nordea

CEO Arni Ekholm has decided to retire on March 2026.

Nordea • 03 jun 2025 14:14

Relais: Focus on growth initiatives - Nordea

Relais' Q1 results were well in line with LSEG Data and Analytics consensus expectations, while the focus was clearly on the latest acquisit...

Nordea • 14 maj 2025 07:15

Relais: In line Q1 - M&A activity to remain high - Nordea

Relais reported Q1 adjusted EBITA of EUR 9.2m was down 5% y/y, in line with LSEG Data & Analytics consensus.

Nordea • 13 maj 2025 09:10

Relais: We are slightly ahead of consensus for Q1 - Nordea

Ahead of Relais Q1, we maintain our estimates intact.

Nordea • 09 maj 2025 13:17

Relais: Large acquisition in Norway - Nordea

Relais announced it will acquire Team Verksted Holding AS from Vy Buss AS, making it the largest operator of independent commercial vehicle ...

Nordea • 29 apr 2025 14:45

Relais: Market expansion to Benelux and Germany through acquisition of a Belgium-based distributor - Nordea

Relais announced today that it will acquire a majority stake in Matro Group, a well-established distributor of truck accessories in Benelux ...

Nordea • 08 apr 2025 07:10

Relais: Strong Q4 and stable market conditions - Nordea

Relais' Q4 report was above LSEG consensus expectations, supported by strong 9% y/y organic revenue growth.

Nordea • 14 feb 2025 07:13

Relais: Strong Q4 - intents to increase its M&A pace - Nordea

Relais reported Q4 adjusted EBITA of EUR 10.6m, 10% above LSEG Data & Analytics consensus.

Nordea • 13 feb 2025 10:46

Relais: Warm winter could weigh on Q4 margins - Nordea

Ahead of Relais' Q4 report, we take a slightly more cautious view on Q4 margins given the warm winter in the Nordics.

Nordea • 24 jan 2025 07:27

Relais: Shift of high-margin sales visible in Q3 - Nordea

Relais Group's Q3 report fell slightly short of LSEG Data & Analytics consensus.

Nordea • 08 nov 2024 10:29

Relais: Lighting season started later this year – slight miss in Q3 despite solid organic growth - Nordea

Relais reported Q3 adjusted EBITA of EUR 9.2m, 9% below LSEG Data & Analytics consensus.

Nordea • 07 nov 2024 10:31

Relais: Positive momentum has likely continued in Q3 - Nordea

Ahead of Relais Q3 report, we maintain our estimates intact.

Nordea • 04 nov 2024 07:27

Relais: Strong Q2 on all fronts - Nordea

Relais reported Q2 adjusted EBITA of EUR 7.3m, 13% above LSEG Data & Analytics consensus.

Nordea • 16 aug 2024 08:04

Relais: Strong Q2 across the board - Nordea

Relais reported Q2 adjusted EBITA of EUR 7.3m, 13% above LSEG Data & Analytics consensus.

Nordea • 15 aug 2024 09:24

Relais: Market has likely remained stable - Nordea

Ahead of Relais' Q2 report, due on 15 August, we make only minor underlying estimate revisions and incorporate the latest announced acquisit...

Nordea • 08 aug 2024 07:34

Relais: Strong Q1 with a stable outlook - Nordea

Relais' Q1 adjusted EBITA came in 13% above LSEG Data & Analytics consensus with a strong 12% y/y organic growth.

Nordea • 10 maj 2024 07:39

Relais: Strong start for the year supported by cold weather conditions - Nordea

Relais reported Q1 adjusted EBITA of EUR 9.7m, 13% above LSEG Data & Analytics consensus.

Nordea • 08 maj 2024 09:35

Relais: Bolt-on acquisition to support repair and maintenance business – We are in line with consensus for Q1 - Nordea

Relais’ Commercial vehicle repair and maintenance company Raskone announced today acquisition of Asennustyö M Ahlqvist, a provider of mainte...

Nordea • 02 maj 2024 13:13

Relais: Solid starting point for 2024 - Nordea

Relais' Q4 EBITA fell short of LSEG Data & Analytics consensus, most likely due to soft lighting sales.

Nordea • 08 mar 2024 07:20

Relais: 11% adjusted EBITA miss driven likely by soft lighting sales – dividend proposal above expectations - Nordea

Relais reported Q4 adjusted EBITA of EUR 7.8m, 11% below LSEG Data & Analytics consensus and 12% below our estimate.

Nordea • 07 mar 2024 08:52

Relais: Solid performance likely to continue - Nordea

We make only minor estimate revisions ahead of Relais' Q4 report, due on 7 March.

Nordea • 04 mar 2024 07:18

Relais: Slight miss due to mix and FX - Nordea

Relais' Q3 2023 adjusted EBITA of EUR 8.6m fell slightly short of Refinitiv consensus expectations, likely due to FX headwinds and a slight ...

Nordea • 03 nov 2023 07:18

Relais: Slight EBITA margin miss likely driven by slightly lower lighting sales and weak SEK - Nordea

Relais reported Q3 adjusted EBITA of EUR 8.6m, 6% below Refinitiv consensus and our estimate.

Nordea • 02 nov 2023 08:46

Relais Group: Profit improvement expected for Q3 – we are in line with consensus - Nordea

Ahead of Relais Q3, due on 2 November, we maintain our estimates intact.

Nordea • 30 okt 2023 08:33

Relais: Resilience visible in top-line development - Nordea

Q2 adjusted EBITA fell slightly short of Refinitiv consensus expectations despite solid top-line growth.

Nordea • 11 aug 2023 07:19

Relais: Slight adjusted EBITA miss despite solid top line development - Nordea

Relais reported Q2 adjusted EBITA of EUR 4.8m, 3% below Refinitiv consensus and 13% below our estimate.

Nordea • 10 aug 2023 09:36

Relais: Expanding the platform - Nordea

On 1 August, Relais announced the acquisition of NDS Group's Norwegian workshop equipment unit, which includes its AutoMateriell business an...

Nordea • 02 aug 2023 07:29

Relais: Expanding to workshop equipment business through acquisition in Norway - Nordea

Relais announced expansion to workshop equipment business in Norway.

Nordea • 01 aug 2023 13:33

Relais: Back on profit improvement track - Nordea

Relais reported Q1 2023 adjusted EBITA that was 23% ahead of Refinitiv consensus, with 7% higher sales.

Nordea • 05 maj 2023 07:28

Relais: Strong Q1 – repair and maintenance was the main growth driver - Nordea

Relais reported Q1 adjusted EBITA of EUR 7.6m, 23% above Refinitiv consensus and 8% above our estimate.

Nordea • 04 maj 2023 09:41

Relais: We are 13% ahead of consensus on adjusted EBITA for Q1 - Nordea

Ahead of Relais Q1, due on 4 May, we maintain our estimates intact.

Nordea • 27 apr 2023 07:19

Relais: Small bolt-on acquisition in Helsinki region - Nordea

Relais acquires Adita Oy, a local distributor of spare parts and equipment for cars and marine use in the Helsinki region.

Nordea • 29 mar 2023 14:52

Relais: Accelerating growth strategy - Nordea

Q4 2022 adjusted EBITA was slightly below our expectations despite sales and gross profit being in line.

Nordea • 03 mar 2023 07:23

Relais: Slight miss on adjusted EBITA – new financial target for 2025 - Nordea

Relais reported Q4 adjusted EBITA of EUR 7.9m, 8% below consensus and 9% below our estimate.

Nordea • 02 mar 2023 09:40

Relais: New CFO appointed - Nordea

Relais announced today that it has found a successor for its long-standing CFO.

Nordea • 15 feb 2023 08:45