Added to YB: 2026-04-07
Pitch date: 2026-04-01
SPG.CO [bullish]
SP Group A/S
Author Info
No bio for this author
Company Info
SP Group A/S, together with its subsidiaries, manufactures and sells moulded plastic and composite components in Denmark, rest of Europe, the Americas, Asia, the Middle East, Australia, and Africa.
Market Cap
DKK 4.3B
Pitch Price
N/A
Price Target
407.75 (+12%)
Dividend
1.10%
EV/EBITDA
9.85
P/E
16.49
EV/Sales
1.95
Sector
Chemicals
Category
value
Another 'secret' Danish stock
SPG.CO: Danish advanced plastics/polymer manufacturer serving Healthcare, Cleantech, Foodtech. 73% recurring subsupplier rev (high switching costs), 27% own niche brands (higher margins). 10-12% ROIC, equity grew every yr (DKK 429M to DKK 1,809M since 2016). FCF DKK 211M in 2025 (down from DKK 335M on higher inventory post-Idé Pro acquisition). Debt 3.41x earnings (above 3x pref but mgmt target 1-3.5x). Risks: cyclical demand, competition, top 10 customers = 49.4% rev. PT DKK 407.75 fair value; Ten Cap price DKK 291.53.
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