Company Overview
Spinnova Oyj is a Finnish company that specializes in the development and production of sustainable textiles. With a focus on innovation and sustainability, Spinnova aims to revolutionize the textile industry by providing high-quality, eco-friendly materials for various applications.
The company's primary mission is to create a more sustainable future for the textile industry, while also delivering value to its customers and stakeholders. This is achieved through its commitment to research and development, innovation, and customer satisfaction.
Core values of sustainability, innovation, and customer focus. Spinnova believe that business can be a force for good, and we strive to make a positive impact on the environment and society.
Key Products/Services
Spinnova's flagship product is SPINNOVA, a sustainable textile material made from wood pulp. This material has several benefits, including:
- Lower greenhouse gas emissions compared to traditional textiles
- Higher strength and durability than traditional textiles
- Improved sustainability and reduced environmental impact
In addition to SPINNOVA, Spinnova also offers a range of other sustainable textile materials and solutions for various applications.
Benefits
The benefits of Spinnova's products and services include:
- Sustainable and eco-friendly materials for the textile industry
- Innovative solutions for reducing environmental impact
- High-quality materials for various applications, including fashion, industrial, and technical textiles
Spinnova's commitment to sustainability and innovation has earned it a reputation as a leader in the textile industry. With its focus on delivering value to customers and stakeholders, Spinnova is well-positioned for long-term success.
Risk Analysis
As with any investment, there are risks associated with investing in Spinnova Oyj. These include:
- Competition from established players in the textile industry
- Fluctuations in raw material prices and availability
- Risk of technological disruption or failure to innovate
Valuation
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Number of Shares (million) | 51.5 | 52.2 | 52.3 | 52.3 | 52.3 | 52.3 | 52.3 |
| Target Valuation (MEur) | 187.3 | 83.6 | 27.7 | 11.7 | 4.4 | 0.0 | 0.0 |
| Targer Price | 3.63 | 1.6 | 0.53 | 0.22 | 0.08 | 0.0 | 0.0 |
| Potential, % | -33.3 | -31.9 | -45.7 | -51.7 | -80.0 | -100.0 | -100.0 |
| Recommendation | Sell | Sell | Sell | Sell | Sell | Sell | Sell |
| MCAP (MEur) | 280.9 | 122.7 | 51.0 | 24.2 | 22.0 | 22.0 | 22.0 |
| Price | 5.45 | 2.35 | 0.98 | 0.46 | 0.42 | 0.42 | 0.42 |
| EV | 206.0 | 68.0 | 33.0 | -17.0 | -3.0 | 9.0 | 19.0 |
| P/S | 11.57 | 11.54 | 66.98 | 70.39 | 45.76 | 45.76 | 45.76 |
| EV/S | 8.5 | 6.42 | 42.9 | -49.78 | -5.53 | 19.07 | 39.08 |
| EV/EBIT | -15.63 | -3.26 | -1.78 | 0.41 | 0.06 | -0.22 | -0.44 |
| P/E | -18.59 | -6.26 | -3.03 | -0.59 | -0.65 | -0.64 | -0.65 |
| P/B | 2.73 | 1.41 | 0.72 | 0.79 | -6.57 | -0.58 | -0.31 |
| P/OCF | -18.5 | -8.77 | -5.89 | -2.04 | -2.24 | -4.49 | -8.17 |
| EV/OCF | -13.59 | -4.88 | -3.77 | 1.44 | 0.27 | -1.87 | -6.97 |
| P/FCF | -18.46 | -6.76 | -4.43 | 6.62 | -1.31 | -1.86 | -2.29 |
| EV/FCF | -13.57 | -3.76 | -2.83 | -4.68 | 0.16 | -0.78 | -1.95 |
Income Statement
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Revenue | 24.3 | 10.6 | 0.8 | 0.3 | 0.5 | 0.5 | 0.5 |
| Rev. Growth, % | 305.0 | -56.4 | -92.5 | -62.5 | 66.7 | 0.0 | 0.0 |
| Ebit | -13.2 | -20.9 | -18.3 | -41.3 | -42.4 | -42.4 | -42.5 |
| Ebit Growth, % | -28.2 | -58.3 | 12.4 | -125.7 | -2.7 | -0.0 | -0.2 |
| Ebit, % | -54.3 | -197.2 | -2287.5 | -13766.7 | -8480.0 | -8480.0 | -8500.0 |
| Profit | -15.1 | -19.6 | -16.8 | -40.7 | -33.9 | -34.3 | -34.0 |
| EPS | -0.29 | -0.38 | -0.32 | -0.78 | -0.65 | -0.66 | -0.65 |
| Profit Growth, % | 1.9 | -29.8 | 14.3 | -142.3 | 16.7 | -1.2 | 0.9 |
| Profit, % | -62.1 | -184.9 | -2100.0 | -13566.7 | -6780.0 | -6860.0 | -6800.0 |
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 | 5.6 | 2.3 | 0.4 | 0.2 | 0.9 | 0.4 | 0.6 |
| Cash | 82.7 | 61.5 | 47.2 | 44.4 | 27.7 | 15.9 | 6.3 |
| Equity | 102.9 | 87.3 | 71.2 | 30.5 | -3.3 | -37.6 | -71.6 |
| ROE, % | -14.7 | -22.5 | -23.6 | -133.4 | 1027.3 | 91.2 | 47.5 |
| ROCE, % | -11.9 | -22.2 | -18.3 | -123.0 | 19906.1 | 122.9 | 62.0 |
| Net Debt | -74.5 | -54.4 | -18.3 | -41.3 | -24.6 | -12.8 | -3.2 |
| Gearing, % | -72.4 | -62.3 | -25.8 | -135.3 | 736.5 | 34.0 | 4.5 |
| Equity ratio, % | 85.8 | 88.6 | 85.4 | 48.2 | -7.2 | -132.5 | -504.3 |
| Acc. Payable | 6.5 | 1.6 | 2.6 | 0.6 | 1.1 | 1.0 | 1.0 |
| Total Assets | 119.9 | 98.6 | 83.3 | 63.3 | 46.5 | 28.4 | 14.2 |
| ROA, % | -12.6 | -19.9 | -20.2 | -64.3 | -72.9 | -120.8 | -239.4 |
Cash Flow
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -15.2 | -14.0 | -8.7 | -11.9 | -9.8 | -4.9 | -2.7 |
| Investment Cash Flow | -0.0 | -4.2 | -2.9 | 15.5 | -6.9 | -6.9 | -6.9 |
| Free Cash Flow | -15.2 | -18.2 | -11.5 | 3.7 | -16.7 | -11.8 | -9.6 |
| OCF/CAPEX | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Financial Cash Flow | -0.9 | 0.1 | -1.7 | 1.9 | 0.0 | 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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