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

Redeye updates its estimates and valuation after Relais' Q3 2026 report. Sales were 4% below our estimate as organic growth slowed to 2%, but adjusted EBITA of EUR11.5m was 21% above our estimate and 5% above consensus. We raise our adjusted EBITA estimates for 2026–2028e, while our fair value falls from EUR24.9 to EUR20.5.

Länk till analysen i sin helhet: https://www.redeye.se/research/1191314/relais-q3-review-earnings-beat-technical-wholesale-lags?utm_source=finwire&utm_medium=RSS