Pihlajalinna - Q4 outpaced the expectations
Pihlajalinna’s Q4 result outpaced the expectations. Q4 revenue amounted EUR 137.2m (+2.6%) vs. EUR 135.3m/135.5m Evli/cons, while adj. EBIT landed at EUR 7.3m vs. EUR 5.3m/4.8m Evli/cons estimates. Dividend proposal is EUR 0.20 vs. EUR 0.12/0.09 Evli/cons. 2021 revenue is expected to increase clearly and adj. EBIT is expected to improve clearly compared to 2020.
- Q4 revenue was EUR 137.2m vs. EUR 135.3m/135.5m Evli/cons estimates. Revenue increased by 2.6% y/y. COVID-19 testing volumes increased by 67% compared to the previous quarter. Customer volumes of private clinic locations were ~10% lower than in the comparison period.
- Q4 adj. EBITDA was EUR 15.7m (11.5% margin) vs. EUR 14.1m/14.0m Evli/cons estimates.
- Q4 adj. EBIT was EUR 7.3m (5.3% margin) vs. EUR 5.3m/4.8m Evli/cons estimates.
- Q4 EPS was EUR 0.15 vs. EUR 0.08/0.12 Evli/cons.
- Dividend proposal is EUR 0.20 vs. EUR 0.12/0.09 Evli/cons.
- Guidance for 2021E: the company expects revenue and adj. EBIT to improve clearly compared to 2020.
- Pihlajalinna will publish new strategy during the beginning of 2021.