Company Overview
Teleste is a Finnish company that specializes in the design, development, and deployment of broadband networks and digital solutions. With over two decades of experience in the industry, Teleste has established itself as a trusted partner for telecommunications operators, governments, and other organizations seeking to deliver high-quality connectivity services. The company's primary mission is to enable people to access information and communicate with each other through reliable and efficient broadband networks. Teleste's core values include innovation, customer satisfaction, and sustainability, which guide the company's decision-making processes and drive its commitment to excellence. By leveraging cutting-edge technology and a deep understanding of the market, Teleste aims to create innovative solutions that meet the evolving needs of its customers.
The primary mission of Teleste is to enable people to access information and communicate with each other through reliable and efficient broadband networks. This involves designing, developing, and deploying broadband network infrastructure, as well as providing digital solutions that support the growth of businesses and communities.
Teleste's core values include innovation, customer satisfaction, and sustainability. These values are reflected in the company's approach to product development, customer service, and environmental responsibility. By prioritizing these values, Teleste aims to create a positive impact on its customers, employees, and the wider community.
Key Products/Services:
Teleste offers a range of key products and services that support the growth of broadband networks and digital solutions. These include:
- DOCSIS 4.0 technology, which enables fast and reliable internet connectivity
- Next Gen DOCSIS, a next-generation broadband platform that supports high-speed internet access
- Network Management System (NMS), a comprehensive solution for managing and optimizing network performance
- Virtual Device Manager (VDM), a software tool that simplifies the management of virtual devices in broadband networks
- Digital solutions, including data analytics and security services, to support the growth of businesses and communities
The benefits of Teleste's products and services include improved network performance, increased reliability, and enhanced customer experience. By leveraging cutting-edge technology and a deep understanding of the market, Teleste aims to create innovative solutions that meet the evolving needs of its customers.
Valuation
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Number of Shares (million) | 19.0 | 19.0 | 19.0 | 19.0 | 19.0 | 19.0 | 19.0 |
| Target Valuation (MEur) | 47.9 | 51.0 | 44.7 | 59.8 | 58.6 | 40.2 | 40.2 |
| Targer Price | 2.53 | 2.69 | 2.35 | 3.15 | 3.09 | 2.12 | 2.12 |
| Potential, % | -28.7 | -0.6 | -10.8 | -16.2 | -14.2 | -41.1 | -41.1 |
| Recommendation | Sell | Hold | Hold | Hold | Hold | Sell | Sell |
| MCAP (MEur) | 67.2 | 51.3 | 50.1 | 71.4 | 68.3 | 68.3 | 68.3 |
| Price | 3.54 | 2.7 | 2.64 | 3.76 | 3.6 | 3.6 | 3.6 |
| EV | 104.0 | 83.0 | 76.0 | 91.0 | 83.0 | 77.0 | 76.0 |
| P/S | 0.41 | 0.34 | 0.38 | 0.51 | 0.53 | 0.51 | 0.53 |
| EV/S | 0.63 | 0.55 | 0.57 | 0.66 | 0.64 | 0.58 | 0.58 |
| EV/EBIT | -21.53 | -172.2 | -35.54 | 13.38 | 11.71 | 12.88 | -78.69 |
| P/E | -11.42 | -101.5 | -18.89 | 27.41 | 12.09 | 14.36 | -89.93 |
| P/B | 1.11 | 0.84 | 0.9 | 1.23 | 1.07 | 1.0 | 1.01 |
| P/OCF | -8.57 | 4.75 | 4.03 | 5.54 | 6.55 | 6.06 | 11.33 |
| EV/OCF | -13.29 | 7.68 | 6.08 | 7.07 | 7.97 | 6.8 | 12.53 |
| P/FCF | -3.79 | 8.03 | 6.36 | 8.28 | 12.76 | 10.63 | 58.13 |
| EV/FCF | -5.87 | 12.98 | 9.58 | 10.56 | 15.52 | 11.94 | 64.25 |
Income Statement
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Revenue | 165.0 | 151.3 | 132.5 | 138.6 | 129.3 | 133.0 | 130.1 |
| Rev. Growth, % | 14.6 | -8.3 | -12.4 | 4.6 | -6.7 | 2.9 | -2.2 |
| Ebit | -4.8 | -0.5 | -2.1 | 6.8 | 7.1 | 6.0 | -1.0 |
| Ebit Growth, % | -155.2 | 89.6 | -320.0 | 423.8 | 4.4 | -15.5 | -116.7 |
| Ebit, % | -2.9 | -0.3 | -1.6 | 4.9 | 5.5 | 4.5 | -0.8 |
| Profit | -5.9 | -0.5 | -2.7 | 2.6 | 5.7 | 4.8 | -0.8 |
| EPS | -0.31 | -0.03 | -0.14 | 0.14 | 0.3 | 0.25 | -0.04 |
| Profit Growth, % | -185.5 | 91.5 | -440.0 | 196.3 | 119.2 | -15.8 | -116.7 |
| Profit, % | -3.6 | -0.3 | -2.0 | 1.9 | 4.4 | 3.6 | -0.6 |
Balance Sheet
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Inventory | 38.7 | 35.6 | 24.9 | 26.9 | 28.1 | 30.8 | 31.0 |
| Acc. Receivable | 41.2 | 31.5 | 32.7 | 30.9 | 33.1 | 33.7 | 33.4 |
| Cash | 13.4 | 6.2 | 8.8 | 9.1 | 16.1 | 22.5 | 23.7 |
| Equity | 60.4 | 61.3 | 55.5 | 57.9 | 63.7 | 68.4 | 67.7 |
| ROE, % | -9.8 | -0.8 | -4.9 | 4.5 | 8.9 | 7.0 | -1.2 |
| ROCE, % | -4.3 | -0.5 | -2.3 | 7.9 | 7.5 | 6.0 | -1.0 |
| Net Debt | 36.9 | 31.6 | 25.4 | 19.6 | 14.8 | 8.4 | 7.2 |
| Gearing, % | 61.2 | 51.5 | 45.8 | 33.9 | 23.2 | 12.2 | 10.6 |
| Equity ratio, % | 39.6 | 46.4 | 45.8 | 47.2 | 50.0 | 52.0 | 51.3 |
| Acc. Payable | 35.4 | 32.1 | 29.9 | 32.6 | 28.3 | 24.0 | 22.8 |
| Total Assets | 152.3 | 132.3 | 121.2 | 122.7 | 127.2 | 131.7 | 131.9 |
| ROA, % | -3.9 | -0.4 | -2.2 | 2.1 | 4.5 | 3.6 | -0.6 |
Cash Flow
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -7.8 | 10.8 | 12.4 | 12.9 | 10.4 | 11.3 | 6.0 |
| Investment Cash Flow | -9.9 | -4.4 | -4.6 | -4.3 | -5.1 | -4.9 | -4.9 |
| Free Cash Flow | -17.8 | 6.4 | 7.9 | 8.6 | 5.4 | 6.4 | 1.2 |
| OCF/CAPEX | 0.0 | 2.45 | 2.73 | 3.03 | 2.05 | 2.32 | 1.24 |
| Financial Cash Flow | 17.0 | -13.6 | -5.4 | -8.2 | 1.6 | 0.0 | 0.0 |
Disclaimer
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