Mangold Insight Maintains Its "Buy" Recommendation for Tellusgruppen AB

Published: September 15, 2021

  

Miscellaneous

In its analysis following Tellusgruppen AB (publ)’s second-quarter report, Mangold Insight takes a positive view of Tellusgruppen’s expansion target of 30 percent per year. Mangold Insight also maintains its “buy” recommendation with a price target of 14.50 SEK per share.

Mangold Insight expects the Tellus Group's sales growth to remain strong in the coming periods, thanks to the company's ability to generate growth both organically and through acquisitions.

Tellusgruppen ’s revenue increased by approximately 17 percent in the second quarter compared with the first quarter, and by approximately 28 percent compared with the same period in 2020. This growth is entirely organic, while Tellusgruppen acquired three companies in the third quarter of 2021 that are expected to generate positive synergies.

Mangold Insight estimates that Tellusgruppen will be able to grow by 40 percent in both 2021 and 2022, and achieve a profit margin of 2.7 percent in 2021.

Download the report here https://mb.cision.com/Main/20629/3413288/1466823.pdf

For more information, visit
Bijan Fahimi, CEO of Tellusgruppen AB
bijan.fahimi@tellusgruppen.se
+46 707 167 453

Certified Adviser
The Company’s Certified Adviser is Mangold Fondkommission AB, which can be reached by phone at
08-503 015 50 and by email at ca@mangold.se.