Added to YB: 2024-05-06
Pitch date: 2024-05-05
HAYPP.ST [bullish]
Haypp Group AB (publ)
+59.26%
current return
Author Info
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Company Info
Haypp Group AB (publ) operates as an online retailer of tobacco-free nicotine pouches and snus products in Sweden, Norway, the rest of Europe, and the United States.
Market Cap
SEK 4.5B
Pitch Price
SEK 91.80
Price Target
N/A
Dividend
N/A
EV/EBITDA
28.58
P/E
63.97
EV/Sales
1.23
Sector
Specialty Retail
Category
growth
Haypp Group: Pricing Gaps
Haypp Group AB (HAYPP.ST) is a play on the fast-growing nicotine pouch (NP) market. Q1 results: Core Markets NP vol +32%, net sales +2% YoY, EBITDA +7%; Growth Markets sales +46% w/ 1190bps EBITDA margin expansion; US NP vol +59% despite CA flavor ban comp. Risks: regulation, snus decline. Bull case: Scale economies in infancy of global NP mega-trend, online share gains, defensible advantages. Valuation extremely compelling as multiples shrink to low single digits in near-term.
Read full article (6 min)