Authorised dealer of construction equipment in Russia

Ferronordic

Ferronordic is an authorised dealer of construction equipment in Russia, selling equipment from Volvo CE (80%), Terex Trucks, Dressta, Mecalac and Rottne. The company’s goal is to become the leading service and sales company in the CIS markets. It is currently the only dealer in Russia, and one of the few in Europe, that is allowed to offer the ‘Certified Rebuild’ warranty extension on Volvo equipment following repairs and service. The company was founded in 2010 and currently has over 70 outlets and 800 employees throughout Russia.

Financials

FERRONORDIC

SEKm 2017 2018 2019
Sales 2567 3023 3615
Sales growth (%) 54,8 17,8 19,6
EBITDA 214 287 340
EBITDA margin (%) 8,3 9,5 9,4
EBIT adj 187 251 304
EBIT adj margin (%) 7,3 8,3 8,4
Pretax profit 193 248 303
EPS rep 8,07 12,14 16,28
EPS growth (%) 165 50,3 34,2
EPS adj 9,37 13,1 16,28
DPS 1,73 4 5,5
EV/EBITDA (x) 6,1 5,4 4,2
EV/EBIT adj (x) 7 6,2 4,7
P/E (x) 18,6 10,7 8
P/E adj (x) 16,1 10 8
EV/sales (x) 0,5 0,5 0,4
FCF yield (%) 8,9 7,1 9,7
Dividend yield (%) 1,1 3,1 4,2
Net IB debt/EBITDA -1,5 -1,2 -1,4

Main shareholders

Ferronordic

Main shareholders Share capital % Voting shares % Verified
Håkan Eriksson (Skandinavkonsult) 15.6 % 15.6 % 31 May 2018
Rune Andersson (Mellby Gård) 8.2 % 8.2 % 30 Sep 2018
Erik Eberhardson 7.4 % 7.4 % 30 Jun 2018
Lars Corneliusson 6.4 % 6.4 % 31 Dec 2017
Avanza Pension 5.2 % 5.2 % 30 Sep 2018
Creades 4.4 % 4.4 % 31 Mar 2018
GLG Partners 3.8 % 3.8 % 8 Mar 2018
Swedbank Robur Fonder 3.6 % 3.6 % 30 Sep 2018
Anders Blomqvist 3.5 % 3.5 % 30 Sep 2018
Unionen 3.4 % 3.4 % 30 Sep 2018

Insider list

Ferronordic

Name
Lars Erik Mikael Corneliusson
Hans Anders Blomqvist
Henrik Carlborg
Henrik Carlborg
HENRIK CARLBORG
ANDERS BLOMQVIST
ANDERS BLOMQVIST
LARS CORNELIUSSON
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