Press the button and be introduced to a new random company!

Introduce me >

Social media

facebook   Follow us on Twitter

Coverage

Cavotec

Cavotec

Send subscription Close

Cavotec is an international engineering group that designs and manufactures systems within power transmission and distribution, remote controlling and automation for end markets such as ports, maritime, airports, mining and tunnelling. Its Ports & Maritime segment provides systems such as automated mooring, motorised cable reels, shore power connection systems. The Industry segment offers motorised cable reels, power connectors and radio remote controls (RRC) for mining and general industry.

Sustainability information

Cavotec has recently undergone a significant turnaround, but due to external factors, we are yet to see a significant return to growth. Risks that could hold back growth further include a weaker economic cycle, competition from larger conglomerates and postponed decision-making by customers.

Financials

EURm 2025 2026e 2027e
Sales 160 164 190
Sales growth (%) -8,7 2,9 15,4
EBITDA 9 0 16
EBITDA margin (%) 5,7 0,3 8,5
EBIT adj. 4 -3 10
EBIT adj. margin (%) 2,5 -1,5 5,2
Pretax profit 1 -8 8
EPS -0,01 -0,08 0,05
EPS growth (%) N/A N/A N/A
EPS adj. -0,02 -0,05 0,05
DPS 0 0 0,03
EV/EBITDA (x) 12,9 248,5 8
EV/EBIT adj. (x) 30,1 -48,5 13,1
P/E (x) N/A N/A 20
P/E adj. (x) N/A N/A 20
EV/sales (x) 0,74 0,75 0,68
FCF yield (%) 11,6 -2,5 1
Le. adj. FCF yld. (%) 8,8 -5,7 -1,8
Dividend yield (%) 0 0 2,8
Net IB debt/EBITDA (x) 1,1 29 1,2
Le. adj. ND/EBITDA (x) -0,6 -11,6 0,6
EURm 2025 2026e 2027e
Sales 160 164 190
COGS -78 -86 -97
Gross profit 82 78 92
Other operating items -73 -78 -76
EBITDA 9 0 16
Depreciation and amortisation -6 -6 -6
of which leasing depreciation -4 -4 -4
EBITA 3 -6 10
EO Items -1 -3 0
Impairment and PPA amortisation 0 0 0
EBIT 3 -6 10
Net financial items -2 -2 -2
Pretax profit 1 -8 8
Tax -3 -1 -2
Net profit -1 -9 5
Minority interest 0 0 0
Net profit discontinued 0 0 0
Net profit to shareholders -1 -9 5
EPS -0,01 -0,08 0,05
EPS adj. -0,02 -0,05 0,05
Total extraordinary items after tax 1 -4 0
Leasing payments -4 -4 -4
Tax rate (%) 205,9 -13,9 30
Gross margin (%) 51,3 47,6 48,6
EBITDA margin (%) 5,7 0,3 8,5
EBITA margin (%) 2 -3,5 5,2
EBIT margin (%) 2 -3,5 5,2
Pre-tax margin (%) 0,8 -4,7 4,1
Net margin (%) -0,9 -5,4 2,9
Sales growth (%) -8,7 2,9 15,4
EBITDA growth (%) -45 -94,6 3147,6
EBITA growth (%) -70,9 -279,3 -271,8
EBIT growth (%) -71 -280,1 -271,8
Net profit growth (%) -136,3 536,6 -161,4
EPS growth (%) N/A N/A N/A
Profitability N/A N/A N/A
Year N/A N/A N/A
ROE (%) -2,5 -18,3 11,9
ROE adj. (%) -3,9 -10,9 11,9
ROCE (%) 3,8 -7,7 13,8
ROCE adj. (%) 4,8 -3,5 13,8
ROIC (%) -4,9 -10,7 10,9
ROIC adj. (%) -6,1 -4,8 10,9
Adj. earnings numbers N/A N/A N/A
EBITDA adj. 10 3 16
EBITA adj. 4 -3 10
EBITDA adj. margin (%) 6,2 2,1 8,4
EBITA adj. margin (%) 2,5 -1,5 5,2
EBITDA lease adj. 6 0 12
EBIT adj. 4 -3 10
EBITDA lease adj. margin (%) 3,9 -0,2 6,3
EBIT adj. margin (%) 2,5 -1,5 5,2
Pretax profit Adj. 2 -5 7
Net profit Adj. -2 -5 5
Net profit to shareholders adj. -2 -5 5
Net adj. margin (%) -1,4 -3,2 2,7
EURm 2025 2026e 2027e
EBITDA 9 0 16
Goodwill 30 30 30
Net financial items -2 -2 -2
Other intangible assets 5 5 5
Paid tax -1 -2 -2
Tangible fixed assets 5 5 5
Non-cash items -2 2 0
Right-of-use asset 13 12 11
Cash flow before change in WC 4 -2 12
Total other fixed assets 6 6 6
Change in working capital 10 0 -8
Fixed assets 59 57 57
Operating cash flow 14 -1 4
Inventories 31 35 39
Capex tangible fixed assets -1 -1 -2
Receivables 32 34 39
Capex intangible fixed assets -1 -1 -2
Other current assets 11 5 5
Acquisitions and Disposals 0 0 0
Cash and liquid assets 15 11 6
Free cash flow 13 -3 1
Total assets 148 140 145
Dividend paid 0 0 -3
Shareholders equity 53 44 47
Share issues and buybacks -7 2 0
Minority 0 0 0
Leasing liability amortisation -3 -3 -3
Total equity 53 44 47
Other non-cash items N/A N/A N/A
Other changes in net debt 3 -4 0
Long-term debt 10 12 12
Pension debt 1 1 1
Convertible debt 0 0 0
Leasing liability 14 13 13
Total other long-term liabilities 3 4 4
Short-term debt 0 0 0
Accounts payable 21 25 25
Other current liabilities 46 42 45
Total liabilities and equity 148 140 145
Net IB debt 10 14 19
Net IB debt excl. pension debt 9 14 19
Net IB debt excl. leasing -4 2 7
Capital employed 77 70 72
Capital invested 62 59 66
Working capital 7 6 14
Market cap. diluted (m) 109 109 109
Net IB debt adj. 10 14 19
Market value of minority 0 0 0
EV 119 123 128
Reversal of shares and participations 0 0 0
Total assets turnover (%) 107,9 114,1 132,7
Reversal of conv. debt assumed equity N/A N/A N/A
Working capital/sales (%) 7,3 4 5,3
Financial risk and debt service N/A N/A N/A
Net debt/equity (%) 18,3 32,4 41,3
Net debt / market cap (%) 8,9 13,2 17,8
Equity ratio (%) 35,7 31,7 32,2
Year N/A N/A N/A
Net IB debt adj. / equity (%) 18,3 32,4 41,3
Current ratio 1,32 1,26 1,28
EBITDA/net interest 5 0,2 8,1
Net IB debt/EBITDA (x) 1,1 29 1,2
Net IB debt/EBITDA lease adj. (x) -0,6 -11,6 0,6
Interest coverage 1,7 2,7 4,9
EURm 2025 2026e 2027e
Shares outstanding adj. 107 107 107
Diluted shares adj. 107 107 107
EPS -0,01 -0,08 0,05
Dividend per share 0 0 0,03
EPS adj. -0,02 -0,05 0,05
BVPS 0,49 0,42 0,44
BVPS adj. 0,17 0,1 0,12
Net IB debt/share 0,09 0,13 0,18
Share price 11,5 11,5 11,5
Market cap. (m) 109 109 109
P/E (x) N/A N/A 20
EV/sales (x) 0,7 0,8 0,7
EV/EBITDA (x) 12,9 248,5 8
EV/EBITA (x) 37,4 -21,7 13,1
EV/EBIT (x) 37,6 -21,7 13,1
Dividend yield (%) 0 0 2,8
FCF yield (%) 11,6 -2,5 1
Le. adj. FCF yld. (%) 8,8 -5,7 -1,8
P/BVPS (x) 2,07 2,45 2,33
P/BVPS adj. (x) 6,15 10,74 8,7
P/E adj. (x) N/A N/A 20
EV/EBITDA adj. (x) 11,8 36,4 8,1
EV/EBITA adj. (x) 30 -48,5 13,1
EV/EBIT adj. (x) 30,1 -48,5 13,1
EV/CE (x) 1,5 1,8 1,8
Investment ratios N/A N/A N/A
Capex/sales (%) 1 0,9 1,7
Year N/A N/A N/A
Capex/depreciation 0,7 0,6 1,3
Capex tangibles / tangible fixed assets 15,3 14,6 28,7
Capex intangibles / definite intangibles 16,8 15,4 33,4
Depreciation on intang / def. intang 0 0 0
Depreciation on tangibles / tangibles 47,57 51,51 47,45

Equity research

Read earlier research

Media

Cavotec - Company presentation with CEO David Pagels and CFO Joakim Wahlquist
Cavotec - Company presentation with CFO Glenn Withers

View more media

Main shareholders - Cavotec

Main shareholders Share capital % Voting shares % Verified
Bure Equity 40.8 % 40.8 % 27 Aug 2026
Thomas von Koch 23.0 % 23.0 % 27 Aug 2026
Fjärde AP-fonden 5.4 % 5.4 % 27 Aug 2026
Nordea Funds 4.5 % 4.5 % 27 Aug 2026
Emma Di Martino 1.8 % 1.8 % 27 Aug 2026
Patrik Tigerschiöld med familj 1.5 % 1.5 % 31 Dec 2025
Fredrik Palmstierna 1.4 % 1.4 % 27 Aug 2026
Fondita Fund Management 1.3 % 1.3 % 27 Aug 2026
SEB Funds 1.2 % 1.2 % 31 Aug 2026
David Pagels 0.9 % 0.9 % 22 Sep 2026
Source: Holdings by Modular Finance AB