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23 November 2017, 08:30
Sdiptech - Information about acquisition multiples and share of business from new construction of housing
Sdiptech will attend a seminar at Carnegie Investment Bank on Thursday, November 23, and in conjunction with the seminar, present the company and its operations.
In connection to the presentation, Sdiptech will report the average multiples at which the company has completed acquisitions in 2017, and comment on the company's views on how a possible decline in the market for new housing in the Stockholm area may affect the Group.
Acquisition multiples 2017 in line with historical average
Sdiptech has, in 2017, completed acquisitions of six companies with EV / EBITA multiples from 4.6 to 8.3. The average multiple during the year has been 5.8 and the weighted average 6.1. This can be put in relation to Sdiptech's average multiple on all acquisitions of 5.7 and a weighted average of all acquisitions of 6.0. Sdiptech has thus been able to continue to generate new acquisitions in 2017 through its process-oriented work under similar terms as earlier periods.
Limited share of earnings from new construction of housing in Stockholm
Of the Group's total EBITA, an estimated 12 percent is related to new construction of housing in Stockholm. A reduction in the rate of new construction of housing in Stockholm may affect the Group in the short term, but a normalization should in the long term have positive effects for most of the business.
A decline in the housing market in Stockholm is likely to lead to a period of overcapacity and price pressure in the sector. However, in the long term, housing shortage remains in Stockholm, as the population is expected to continue to grow.
A normalization of housing construction should eventually lead to positive effects for most of Sdiptech's operations. New housing and population growth leads to subsequent new investments in urban infrastructures, municipalities, county councils and commercial real estate, where Sdiptech has a larger business corresponding to an estimated 41 percent of the Group's EBITA. Furthermore, demand for service, maintenance and refurbishment should increase as a more normal share of capital is allocated to take care of existing infrastructure, an area equivalent to an estimated 43 percent of the Group's EBITA.
Today's presentation will be available on the company's website at 12:00 CET.
Sdiptech AB's ordinary Series B share is traded under the short name SDIP B with ISIN code SE0003756758.
Sdiptech AB's preferred shares are traded under the short name SDIP PREF with ISIN code SE0006758348.
Sdiptech AB's Certified Adviser at Nasdaq First North Stockholm is Erik Penser Bank. Further information is available on the company's website: www.sdiptech.com
For additional information, please contact:
Carl Johan Åkesson, CFO, +46 708 30 70 57, email@example.com
Jakob Holm, CEO, +46 761 61 21 91, firstname.lastname@example.org
Sdiptech AB is a technology group with a primary focus on urban infrastructures. The Group offers deeply niched services and products for both expanding and renovating rapidly growing metropolitan areas. The company is based in Stockholm.
Sdiptech AB (publ) is required to disclose this information pursuant to EU Market Use Regulation 596/2014. The information was provided by the above contact persons for publication on 23 November 2017 at 08:30 CET.