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Prevas

Prevas

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Prevas is a technological consultancy firm specialised in products and production solutions, working within areas such as digitalisation, sustainability, connectivity, and life science. Prevas has diverse end markets: the most significant are life science, engineering, energy and defence. The company’s clients are global, but most of its personnel are located in Sweden. Prevas’ strategy is to provide critical value to its customers and therefore to sustain long client relationships.

Sustainability information

Prevas is largely dependent on investment activities in its sectors (such as energy, engineering and life science), which can experience drawdowns in recessions. The company also needs to attract and retain qualified employees to sustain its operations, and there is a growing shortage of engineers in Sweden. That could lead to higher salaries and difficulties employing and retaining staff, as prospective employees have greater bargaining power.

Financials

SEKm 2025 2026e 2027e
Sales 1626,99 1673,01 1796,38
Sales growth (%) 2,5 2,8 7,4
EBITDA 165 205 247
EBITDA margin (%) 10,2 12,2 13,7
EBIT adj. 108 146 183
EBIT adj. margin (%) 6,7 8,7 10,2
Pretax profit 93 132 170
EPS 5,49 7,89 10,19
EPS growth (%) -22,9 43,5 29,2
EPS adj. 6,66 8,84 11,19
DPS N/A N/A N/A
Dividend per share 4 4,75 5
EV/EBITDA (x) 8,2 6,4 5
EV/EBIT adj. (x) 12,5 9 6,8
P/E (x) 14,58 10,16 7,86
P/E adj. (x) 12 9,1 7,2
EV/sales (x) 0,83 0,78 0,69
FCF yield (%) 11,6 12 17
Le. adj. FCF yld. (%) 8,1 8,9 13,3
Dividend yield (%) 5 5,9 6,2
Net IB debt/EBITDA (x) 1,6 1,1 0,6
Le. adj. ND/EBITDA (x) 0,9 0,4 0
SEKm 2025 2026e 2027e
Sales 1626,99 1673,01 1796,38
COGS 0 0 0
Gross profit 1627 1673 1796
Other operating items -1462 -1468 -1550
EBITDA 165 205 247
Depreciation and amortisation -47 -47 -51
of which leasing depreciation N/A N/A N/A
Depreciation on leased assets -41 -42 -45
EBITA 118,22 157,36 195,52
EO Items N/A N/A N/A
Operating EO items -2 0 0
Impairment and PPA amortisation N/A N/A N/A
Impairment and amortisation charges -12 -12 -13
EBIT 105,86 145,22 182,72
Net financial items -13 -13 -13
Pretax profit 93 132 170
Tax -20 -29 -37
Net profit 72 103 133
Minority interest 2 1 1
Net profit discontinued 0 0 0
Net profit to shareholders 74 104 134
EPS 5,49 7,89 10,19
EPS adj. 6,66 8,84 11,19
Total extraordinary items after tax -2 0 0
Leasing payments -41 -42 -45
Tax rate (%) 21,9 22,3 22
Gross margin (%) 100 100 100
EBITDA margin (%) 10,2 12,2 13,7
EBITA margin (%) 7,3 9,4 10,9
EBIT margin (%) 6,5 8,7 10,2
Pre-tax margin (%) 5,7 7,9 9,5
Net margin (%) 4,5 6,1 7,4
Growth Rates y-o-y N/A N/A N/A
Sales growth (%) 2,5 2,8 7,4
EBITDA growth (%) -5,4 23,9 20,6
EBITA growth (%) -10,7 33,1 24,2
EBIT growth (%) -13,7 37,2 25,8
Net profit growth (%) -21,4 41,9 29
EPS growth (%) -22,9 43,5 29,2
Profitability N/A N/A N/A
Year N/A N/A N/A
ROE (%) 11,5 15,6 18,4
ROE adj. (%) 13,8 17,5 20,2
ROCE (%) 10,5 14,3 16,8
ROCE adj. (%) 11,9 15,5 18
ROIC (%) 9,4 12,6 15,7
ROIC adj. (%) 9,6 12,7 15,7
Adj. earnings numbers N/A N/A N/A
EBITDA adj. 168 205 247
EBITDA adj. margin (%) 10,3 12,3 13,7
EBITDA lease adj. 126 163 202
EBITDA lease adj. margin (%) 7,8 9,8 11,2
EBITA adj. 121 158 196
EBITA adj. margin (%) 7,4 9,4 10,9
EBIT adj. 108 146 183
EBIT adj. margin (%) 6,7 8,7 10,2
Pretax profit Adj. 108 145 183
Net profit Adj. 87 115 146
Net profit to shareholders adj. 88 117 147
Net adj. margin (%) 5,3 6,9 8,1
SEKm 2025 2026e 2027e
EBITDA 165 205 247
Goodwill 673 676 676
Net financial items -13 -13 -13
Other intangible assets 41 30 17
Paid tax -41 -33 -37
Tangible fixed assets 13 16 19
Non-cash items 1 1 0
Right-of-use asset 146 135 125
Cash flow before change in WC 113 160 197
Total other fixed assets N/A N/A N/A
Other Fixed Assets All 37 37 37
Change in working capital 31 -27 -12
Fixed assets 909 893 874
Operating cash flow 144 133 185
Inventories 2 2 3
Capex tangible fixed assets -3 -7 -9
Receivables 334 308 330
Capex intangible fixed assets -4 -1 -1
Other current assets 99 150 161
Acquisitions and Disposals -17 0 0
Cash and liquid assets 21 79 155
Free cash flow 119 124 175
Total assets 1366 1432 1522
Dividend paid -63 -52 -61
Shareholders equity 639 694 764
Share issues and buybacks 0 0 0
Minority 60 61 62
Leasing liability amortisation -36 -33 -38
Total equity 699 755 826
Other non-cash items N/A N/A N/A
Other changes in net debt 13 5 3
Long-term debt 88 101 101
Pension debt 0 0 0
Convertible debt 0 0 0
Leasing liability 147 146 143
Total other long-term liabilities 83 83 83
Short-term debt 49 50 50
Accounts payable 69 77 82
Other current liabilities 231 220 236
Total liabilities and equity 1366 1432 1522
Net IB debt 263 219 140
Net IB debt excl. pension debt 263 219 140
Net IB debt excl. leasing 116 73 -3
Capital employed 983 1052 1121
Capital invested 962 974 966
Working capital 136 163 175
EV breakdown N/A N/A N/A
Market cap. diluted (m) 1032 1032 1032
Net IB debt adj. 263 219 140
Market value of minority 60 61 62
Reversal of shares and participations 0 0 0
Reversal of conv. debt assumed equity N/A N/A N/A
EV 1355 1312 1234
Total assets turnover (%) 116,1 119,6 121,6
Working capital/sales (%) 8,9 8,9 9,4
Year N/A N/A N/A
Financial risk and debt service N/A N/A N/A
Net debt/equity (%) 37,6 29 16,9
Net debt / market cap (%) 25,5 21,2 13,5
Equity ratio (%) 51,2 52,7 54,3
Net IB debt adj. / equity (%) 37,6 29 16,9
Current ratio 1,31 1,55 1,76
EBITDA/net interest 12,7 15,9 19,6
Net IB debt/EBITDA (x) 1,6 1,1 0,6
Net IB debt/EBITDA lease adj. (x) 0,9 0,4 0
Interest coverage 9,1 12,2 15,5
SEKm 2025 2026e 2027e
Shares outstanding adj. 13 13 13
Diluted shares adj. 13 13 13
EPS 5,49 7,89 10,19
Dividend per share 4 4,75 5
EPS adj. 6,66 8,84 11,19
BVPS 49,63 53,83 59,26
BVPS adj. -5,79 -0,94 5,49
Net IB debt/share 20,4 17 10,85
Share price 80,1 80,1 80,1
Market cap. (m) 1032 1032 1032
Valuation N/A N/A N/A
P/E (x) 14,58 10,16 7,86
EV/sales (x) 0,83 0,78 0,69
EV/EBITDA (x) 8,2 6,4 5
EV/EBITA (x) 11,5 8,3 6,3
EV/EBIT (x) 12,8 9 6,8
Dividend yield (%) 5 5,9 6,2
FCF yield (%) 11,6 12 17
Le. adj. FCF yld. (%) 8,1 8,9 13,3
P/BVPS (x) 1,61 1,49 1,35
P/BVPS adj. (x) -31,09 58,29 11,76
P/E adj. (x) 12 9,1 7,2
EV/EBITDA adj. (x) 8,1 6,4 5
EV/EBITA adj. (x) 11,2 8,3 6,3
EV/EBIT adj. (x) 12,5 9 6,8
EV/CE (x) 1,4 1,2 1,1
Year N/A N/A N/A
Investment ratios N/A N/A N/A
Capex/sales (%) -0,5 -0,5 -0,5
Capex/depreciation 1,3 1,5 1,5
Capex tangibles / tangible fixed assets 24,3 47,6 46
Capex intangibles / definite intangibles N/A N/A N/A
Depreciation on intang / def. intang N/A N/A N/A
Depreciation on tangibles / tangibles 38,45 31,77 28,44

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Media

Prevas - Company presentation with CEO Magnus Welén
Prevas - Company presentation with CEO Magnus Welén

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Main shareholders - Prevas

Main shareholders Share capital % Voting shares % Verified
Göran Lundin 8.5 % 14.7 % 26 Jun 2026
Per Vannesjö 10.4 % 12.6 % 26 Jun 2026
DeVenture AB 10.4 % 12.0 % 26 Jun 2026
Amiral Gestion 9.7 % 7.5 % 7 Apr 2026
Avanza Pension 6.2 % 4.8 % 26 Jun 2026
Helena Lundin 4.2 % 3.3 % 26 Jun 2026
Magnus Lundin 3.2 % 2.5 % 26 Jun 2026
Ulrika Grönberg 2.9 % 2.2 % 26 Jun 2026
Amundi 2.6 % 2.0 % 31 Mar 2026
Nordnet Pensionsförsäkring 2.3 % 1.8 % 26 Jun 2026
Source: Holdings by Modular Finance AB