Added to YB: 2026-03-26
Pitch date: 2026-03-15
NREST.ST [bullish]
Nordrest Holding AB (publ)
-4.55%
current return
Author Info
No bio for this author
Company Info
Nordrest Holding AB (publ) operates as a foodservice company in Sweden and internationally. The company operates restaurant and cafe management, as well as provides catering services.
Market Cap
SEK 3.7B
Pitch Price
SEK 308.00
Price Target
553.00 (+88%)
Dividend
2.90%
EV/EBITDA
11.38
P/E
19.28
EV/Sales
1.46
Sector
Hotels, Restaurants and Leisure
Category
value
Nordrest - Defense growth at attractive valuation
NREST.ST: Nordic foodservice w/ defense growth. 2025 rev +114% in defense (MRE segment now 45% of sales), EBITA margin 11.7% (vs 8.8% '24), Q4 14.7%. Acquired 40% Orifo at 4x EBIT for vertical MRE integration. Recurring rev model, capital-light (1-2% WC), net cash position, 50% dividend policy. Trading 7.2x 2027e EBITA; 13-14x multiple = 70-80% upside on margin expansion to 14% via renegotiated contracts, mix shift to higher-margin MRE, eliminating intermediaries.
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