Redeye updates its estimates and valuation after Relais’ Q2 2026 report.
Relais' Q2 adjusted EBITA of EUR 8m fell 14% short of Modular Finance consensus despite a 2% top-line beat.
Relais Q2 adjusted EBITA of EUR 8m was up 6% y/y and came 14% below Modular Finance consensus of EUR 9.
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...
Relais is acquiring 70% of vehicle care company tershine from its founder and entrepreneur who will continue to lead tershine.
Director of M&A and Business Development, Sebastian Seppänen, has been appointed as interim CFO of Relais.
Relais hosted its first ever CMD yesterday. Overall, the focus is clearly around capital allocation, which we view logical following the acq...
Ahead of its CMD today, Relais updated its strategy for 2026-28 and provides new financial targets.
Redeye updates its estimates and valuation after Relais’ Q1 2026 report.
Relais' Q1 2026 adjusted EBITA of EUR 12.8m was 5% above Modular Finance consensus and sales were 4% ahead.
Relais Q1 adjusted EBITA of EUR 12.8m was up 40% y/y and came 5% above Modular Finance consensus of EUR 12.
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.
Redeye updates its estimates and valuation after Relais’ Q4 2025 report.
Relais' Q4 was soft, with the top line and adjusted EBITA below LSEG Data & Analytics consensus.
Redeye provides its initial take on Relais’ Q4 2025 report, which featured an adjusted EBITA that aligned with our projection but a slightly...
Relais Q4 adjusted EBITA of EUR 10.8m was up 2% y/y and came 16% below LSEG Data & Analytics consensus of EUR 12.
Relais outperformed the market in Q3 and we expect a similar performance for Q4.
Relais' Q3 adjusted EBITA came in slightly below LSEG Data & Analytics consensus.
Redeye updates its estimates and valuation after Relais’ Q3 2025 report.
Relais Q3 adjusted EBITA of EUR 10.9m was up 19% y/y and came 5% below LSEG Data & Analytics consensus of EUR 11.
Redeye provides its initial take on Relais’ Q3 2025 report, which featured an adjusted EBITA that aligned with our projection and solid orga...
Relais announced today that Christian Johansson Gebauer, former head of Ratos Construction & Services (SEK 16bn sales and SEK 1.
We maintain our estimates intact ahead of Relais Q3 report.
Redeye updates its estimates for Relais’ recent hybrid bond issue.
Redeye provides an initial comment on Relais issuing cEUR50m in hybrid bonds to replace its recent bridge facility (cEUR37m) and for general...
Redeye initiates coverage of Relais Group, an emerging serial acquirer in the European vehicle aftermarket space.
Relais' Q2 adjusted EBITA came in well in line with LSEG Data & Analytics consensus expectations.
Relais Q2 adjusted EBITA of EUR 7.6m was up 3% y/y and came 2% above LSEG Data & Analytics consensus of EUR 7.
Ahead of Relais' Q2 results, we incorporate its latest acquisitions into our estimates and adjust for FX and slightly softer-than-anticipate...
CEO Arni Ekholm has decided to retire on March 2026.
Relais' Q1 results were well in line with LSEG Data and Analytics consensus expectations, while the focus was clearly on the latest acquisit...
Relais reported Q1 adjusted EBITA of EUR 9.2m was down 5% y/y, in line with LSEG Data & Analytics consensus.
Ahead of Relais Q1, we maintain our estimates intact.
Relais announced it will acquire Team Verksted Holding AS from Vy Buss AS, making it the largest operator of independent commercial vehicle ...
Relais announced today that it will acquire a majority stake in Matro Group, a well-established distributor of truck accessories in Benelux ...
Relais' Q4 report was above LSEG consensus expectations, supported by strong 9% y/y organic revenue growth.
Relais reported Q4 adjusted EBITA of EUR 10.6m, 10% above LSEG Data & Analytics consensus.
Ahead of Relais' Q4 report, we take a slightly more cautious view on Q4 margins given the warm winter in the Nordics.
Relais Group's Q3 report fell slightly short of LSEG Data & Analytics consensus.
Relais reported Q3 adjusted EBITA of EUR 9.2m, 9% below LSEG Data & Analytics consensus.
Ahead of Relais Q3 report, we maintain our estimates intact.
Relais reported Q2 adjusted EBITA of EUR 7.3m, 13% above LSEG Data & Analytics consensus.
Ahead of Relais' Q2 report, due on 15 August, we make only minor underlying estimate revisions and incorporate the latest announced acquisit...
Relais' Q1 adjusted EBITA came in 13% above LSEG Data & Analytics consensus with a strong 12% y/y organic growth.
Relais reported Q1 adjusted EBITA of EUR 9.7m, 13% above LSEG Data & Analytics consensus.
Relais’ Commercial vehicle repair and maintenance company Raskone announced today acquisition of Asennustyö M Ahlqvist, a provider of mainte...
Relais' Q4 EBITA fell short of LSEG Data & Analytics consensus, most likely due to soft lighting sales.
Relais reported Q4 adjusted EBITA of EUR 7.8m, 11% below LSEG Data & Analytics consensus and 12% below our estimate.
We make only minor estimate revisions ahead of Relais' Q4 report, due on 7 March.
Relais' Q3 2023 adjusted EBITA of EUR 8.6m fell slightly short of Refinitiv consensus expectations, likely due to FX headwinds and a slight ...
Relais reported Q3 adjusted EBITA of EUR 8.6m, 6% below Refinitiv consensus and our estimate.
Ahead of Relais Q3, due on 2 November, we maintain our estimates intact.
Q2 adjusted EBITA fell slightly short of Refinitiv consensus expectations despite solid top-line growth.
Relais reported Q2 adjusted EBITA of EUR 4.8m, 3% below Refinitiv consensus and 13% below our estimate.
On 1 August, Relais announced the acquisition of NDS Group's Norwegian workshop equipment unit, which includes its AutoMateriell business an...
Relais announced expansion to workshop equipment business in Norway.
Relais reported Q1 2023 adjusted EBITA that was 23% ahead of Refinitiv consensus, with 7% higher sales.
Relais reported Q1 adjusted EBITA of EUR 7.6m, 23% above Refinitiv consensus and 8% above our estimate.
Ahead of Relais Q1, due on 4 May, we maintain our estimates intact.
Relais acquires Adita Oy, a local distributor of spare parts and equipment for cars and marine use in the Helsinki region.
Q4 2022 adjusted EBITA was slightly below our expectations despite sales and gross profit being in line.
Relais reported Q4 adjusted EBITA of EUR 7.9m, 8% below consensus and 9% below our estimate.
Relais announced today that it has found a successor for its long-standing CFO.
Relais’ CFO Pekka Raatikainen is stepping down by the end of June to pursue career outside the company.
Relais has today acquired Danish company S-E-T A/S, wholesaler of electrical equipment, such as rear-view and side-view cameras, inverters a...
Relais' Q3 results were in line with our expectation and above the low-quality Refinitiv consensus.
Relais reported Q2 adjusted EBITA of EUR 7.9m, 4% below our estimate.
Relais will for the first time report in accordance with IFRS standards in its Q3 results on 10 November.
Relais announced today that it will do the transition from Finnish Accounting Standards (FAS) to IFRS as of Q3 2022.
