The comment is here. The finalization of the MB deal is slightly delayed, for which resolving the complication caused by the fire is probably partly the reason. From the perspective of the share’s fair value, this naturally has no significance. The same naturally applies to the ADCO deal, where the finalization phase has also been delayed from Q3 to Q4, as I understand it, due to reasons related to regulatory approvals.
Among Scanfil’s peers, Kitron made an acquisition yesterday evening and also published guidance for next year. Kitron is acquiring DeltaNordics for EUR 114 million, which corresponds to an EV/EBITDA multiple of 9.7x calculated from next year’s earnings forecast. Behind the somewhat high-looking price is likely DeltaNordics’ focus on the defense sector (approximately half of its revenue). Kitron guided for clear growth and margin improvement for next year without DeltaNordics, but Bloomberg consensus estimates are around the upper end of Kitron’s guidance ranges. Although Kitron’s valuation is among the highest in the peer group (2025e: P/E 30x), the stock has not moved anywhere this morning. Thus, at least at first glance, the content of the release seems to have been sufficient for investors (or alternatively, I have interpreted something incorrectly). For Kitron, the defense sector is genuinely a