Added to YB: 2026-10-14
Pitch date: 2026-10-10
BERNER-B.ST [neutral]
Berner Industrier AB
-0.52%
current return
Author Info
I hunt patiently for 100-baggers in the realm from small to mid-cap preferably for underfollowed companies. The goal is to find asymmetric bets, with high upside, limited downside and always exposed to additional outsized optionality. Sign up for the newsletter.
Company Info
Berner Industrier AB engages in the technology distribution, and energy and environment business in Sweden, Norway, Finland, and Denmark.
Market Cap
SEK 1.5B
Pitch Price
SEK 77.40
Price Target
N/A
Dividend
1.61%
EV/EBITDA
11.66
P/E
19.87
EV/Sales
1.54
Sector
Electronic Equipment, Instruments and Components
Category
growth
A small serial acquirer in a turnaround - Berner Industrier AB
BERNER-B.ST (monitor): Berner is a repaired Nordic industrial group aiming to become a serial acquirer: EBITA rose from SEK 31m in 2021 to SEK 100m in 2025, while 0.9x net debt/EBITDA provides M&A capacity. At 18x LTM earnings, deploying capital at high ROIC and hitting management’s target of ≥15% average EBITA growth over a cycle could support a potential +20% IRR; failure leaves a roughly 5% organic grower vulnerable to derating. The unresolved issues are limited deal history and whether weak order intake recovers.
Read full article (7 min)