Company Overview
Administer Group is a leading provider of payroll and accounting services, as well as HR and consulting services, to both public and private sector organizations. With over 30 years of experience, the company has established itself as a trusted partner for businesses seeking to outsource their administrative tasks. Administer's comprehensive range of services includes payroll processing, tax compliance, financial reporting, and HR management, among others.
The primary mission of Administer Group is to provide high-quality, cost-effective solutions that enable businesses to focus on their core operations while ensuring compliance with regulatory requirements. The company's core values include a commitment to excellence, customer satisfaction, and innovation.
Key Products/Services
Administer offers a range of products and services designed to support the administrative needs of businesses. These include:
- Payroll processing: Administer provides comprehensive payroll processing services, including tax compliance, benefits administration, and employee data management.
- Financial reporting: The company offers financial reporting services, including budgeting, forecasting, and financial analysis.
- HR management: Administer provides HR management services, including recruitment, talent management, and employee engagement.
- Tax compliance: The company ensures that clients comply with all tax regulations, including VAT, income tax, and corporate tax.
The benefits of using Administer's products and services include increased efficiency, reduced costs, improved accuracy, and enhanced customer satisfaction. By outsourcing administrative tasks to Administer, businesses can focus on their core operations and achieve a competitive edge in the market.
Strategic Partnerships and Acquisitions
Administer has established strategic partnerships with several key players in the industry, including Numera Palvelut, which provides IT services and solutions. The company has also acquired several businesses, including Sarastia Oy, to expand its service offerings and increase its market share.
Valuation
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Number of Shares (million) | 14.3 | 14.3 | 14.4 | 15.0 | 17.2 | 17.2 | 17.2 |
| Target Valuation (MEur) | 20.1 | 21.4 | 25.1 | 19.8 | 20.4 | 34.6 | 34.6 |
| Targer Price | 1.4 | 1.5 | 1.75 | 1.32 | 1.19 | 2.02 | 2.02 |
| Potential, % | -47.2 | -38.0 | -19.0 | -44.8 | -45.5 | -7.5 | -7.5 |
| Recommendation | Sell | Sell | Hold | Sell | Sell | Hold | Hold |
| MCAP (MEur) | 38.1 | 34.5 | 31.0 | 35.9 | 37.4 | 37.4 | 37.4 |
| Price | 2.66 | 2.41 | 2.16 | 2.4 | 2.18 | 2.18 | 2.18 |
| EV | 55.0 | 49.0 | 43.0 | 46.0 | 52.0 | 48.0 | 44.0 |
| P/S | 0.72 | 0.46 | 0.42 | 0.49 | 0.36 | 0.33 | 0.32 |
| EV/S | 1.03 | 0.65 | 0.58 | 0.63 | 0.49 | 0.42 | 0.38 |
| EV/EBIT | 432.77 | -16.68 | -32.5 | -137.59 | -809.76 | 598.41 | 161.93 |
| P/E | -54.22 | -9.45 | -13.42 | -21.78 | -27.85 | -64.48 | -86.97 |
| P/B | 1.19 | 1.26 | 1.23 | 1.48 | 1.3 | 1.33 | 1.35 |
| P/OCF | 16.36 | 6.37 | 8.62 | 7.8 | 6.31 | 5.69 | 5.52 |
| EV/OCF | 23.4 | 9.09 | 11.94 | 10.07 | 8.74 | 7.29 | 6.46 |
| P/FCF | -1.86 | 27.02 | 20.77 | 14.67 | -13.91 | 9.46 | 9.01 |
| EV/FCF | -2.66 | 38.56 | 28.76 | 18.95 | -19.27 | 12.11 | 10.53 |
Income Statement
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Revenue | 52.8 | 75.9 | 74.7 | 73.3 | 105.0 | 113.0 | 116.3 |
| Rev. Growth, % | 26.0 | 43.8 | -1.6 | -1.9 | 43.2 | 7.6 | 2.9 |
| Ebit | 0.1 | -3.0 | -1.3 | -0.3 | -0.1 | 0.1 | 0.3 |
| Ebit Growth, % | 0.0 | -3100.0 | 56.7 | 76.9 | 66.7 | 200.0 | 200.0 |
| Ebit, % | 0.2 | -4.0 | -1.7 | -0.4 | -0.1 | 0.1 | 0.3 |
| Profit | -0.7 | -3.7 | -2.3 | -1.6 | -1.3 | -0.6 | -0.4 |
| EPS | -0.05 | -0.26 | -0.16 | -0.11 | -0.08 | -0.03 | -0.02 |
| Profit Growth, % | 61.1 | -428.6 | 37.8 | 30.4 | 18.8 | 53.8 | 33.3 |
| Profit, % | -1.3 | -4.9 | -3.1 | -2.2 | -1.2 | -0.5 | -0.3 |
Balance Sheet
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Inventory | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Acc. Receivable | 11.0 | 11.0 | 9.6 | 9.0 | 9.2 | 9.7 | 9.7 |
| Cash | 4.4 | 3.3 | 2.4 | 2.8 | 9.9 | 13.8 | 18.0 |
| Equity | 32.1 | 27.5 | 25.3 | 24.3 | 28.7 | 28.1 | 27.7 |
| ROE, % | -2.2 | -13.5 | -9.1 | -6.6 | -4.5 | -2.1 | -1.4 |
| ROCE, % | 0.2 | -6.6 | -3.3 | -0.8 | -0.2 | 0.2 | 0.6 |
| Net Debt | 16.4 | 14.7 | 11.9 | 10.5 | 14.4 | 10.5 | 6.3 |
| Gearing, % | 51.1 | 53.6 | 47.2 | 43.1 | 50.3 | 37.3 | 22.9 |
| Equity ratio, % | 48.7 | 44.0 | 44.5 | 47.1 | 34.3 | 33.8 | 33.4 |
| Acc. Payable | 3.9 | 5.5 | 4.4 | 4.8 | 11.0 | 11.3 | 11.4 |
| Total Assets | 66.0 | 62.5 | 56.9 | 51.6 | 83.6 | 83.2 | 82.7 |
| ROA, % | -1.1 | -5.9 | -4.0 | -3.1 | -1.6 | -0.7 | -0.5 |
Cash Flow
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 2.3 | 5.4 | 3.6 | 4.6 | 5.9 | 6.6 | 6.8 |
| Investment Cash Flow | -22.8 | -4.1 | -2.1 | -2.2 | -8.6 | -2.6 | -2.6 |
| Free Cash Flow | -20.5 | 1.3 | 1.5 | 2.4 | -2.7 | 4.0 | 4.2 |
| OCF/CAPEX | 0.1 | 1.31 | 1.71 | 2.13 | 0.69 | 2.51 | 2.59 |
| Financial Cash Flow | 12.1 | -1.5 | -1.8 | -2.0 | 9.7 | 0.0 | 0.0 |
Disclaimer
Risk Disclosure: Trading in financial instruments involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
The data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes.
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