Financials Norion Bank AB

Equities

NORION

SE0017831795

Banks

Real-time Estimate Cboe Europe Other stock markets 05:57:43 2024-05-21 am EDT			5-day change	1st Jan Change
42.22 ^SEK	+3.87%		-1.51%	-2.42%

May. 07	Norion Bank Approves the Election of Arian Falck Raoof as Board Member	CI
Apr. 23	Norion Bank AB Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Valuation

Fiscal Period: December	2022	2023	2024	2025	2026
Capitalization ¹	7,866	8,903	8,349	-	-
Enterprise Value (EV) ¹	7,866	8,903	8,349	8,349	8,349
P/E ratio	7.17 x	7.2 x	6.95 x	6.37 x	5.28 x
Yield	-	-	7.19%	12.5%	18.9%
Capitalization / Revenue	2.45 x	2.44 x	2.27 x	2.12 x	1.95 x
EV / Revenue	2.45 x	2.44 x	2.27 x	2.12 x	1.95 x
EV / EBITDA	-	-	-	-	-
EV / FCF	-	-	-	-	-
FCF Yield	-	-	-	-	-
Price to Book	1.11 x	1.07 x	0.93 x	0.83 x	0.84 x
Nbr of stocks (in thousands)	205,381	205,381	205,381	-	-
Reference price ²	38.30	43.35	40.65	40.65	40.65
Announcement Date	2/8/23	2/7/24	-	-	-

¹SEK in Million²SEK

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2022	2023	2024	2025	2026
Net sales ¹	3,212	3,648	3,677	3,942	4,279
EBITDA	-	-	-	-	-
EBIT ¹	2,381	2,714	2,626	2,724	3,144
Operating Margin	74.13%	74.4%	71.42%	69.11%	73.48%
Earnings before Tax (EBT) ¹	1,442	1,636	1,550	1,711	2,084
Net income ¹	1,097	1,236	1,201	1,310	1,581
Net margin	34.15%	33.88%	32.67%	33.25%	36.95%
EPS ²	5.340	6.020	5.849	6.381	7.700
Free Cash Flow	-	-	-	-	-
FCF margin	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-
Dividend per Share ²	-	-	2.924	5.071	7.700
Announcement Date	2/8/23	2/7/24	-	-	-

¹SEK in Million²SEK

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	752	811	928	882	926	906	934	933	953	892	900	918	958
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-	610	697	653	696	684	681	675	689	638	626	652	682
Operating Margin	-	75.22%	75.11%	74.04%	75.16%	75.5%	72.91%	72.35%	72.3%	71.52%	69.56%	71.02%	71.19%
Earnings before Tax (EBT) ¹	-	373	437	385	432	405	414	417	422	355	356	395	427
Net income ¹	230	283	333	305	328	305	311	314	334	281	273	296	321
Net margin	30.59%	34.9%	35.88%	34.58%	35.42%	33.66%	33.3%	33.65%	35.05%	31.5%	30.33%	32.24%	33.51%
EPS ²	-	1.380	1.620	1.420	1.600	1.490	1.510	1.530	1.630	1.370	1.330	1.440	1.560
Dividend per Share ²	-	-	-	-	-	-	-	-	-	-	2.920	-	-
Announcement Date	8/19/22	10/21/22	2/8/23	4/24/23	7/13/23	10/20/23	2/7/24	4/23/24	-	-	-	-	-

¹SEK in Million²SEK

Estimates

Balance Sheet Analysis

Fiscal Period: December	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-
Net Cash position	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-
Free Cash Flow	-	-	-	-	-
ROE (net income / shareholders' equity)	18.3%	17.2%	14.3%	13.9%	16.1%
ROA (Net income/ Total Assets)	2.36%	-	2.1%	2.1%	2.3%
Assets ¹	46,485	-	57,203	62,405	68,739
Book Value Per Share ²	34.40	40.40	43.80	49.00	48.60
Cash Flow per Share	-	-	-	-	-
Capex	-	-	-	-	-
Capex / Sales	-	-	-	-	-
Announcement Date	2/8/23	2/7/24	-	-	-

¹SEK in Million²SEK

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Norion Bank AB

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

40.65 SEK

Average target price

51.5 SEK

Spread / Average Target

+26.69%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Banks

	1st Jan change	Capi.
NORION BANK AB	-2.42%	781M
JPMORGAN CHASE & CO.	+14.98%	562B
BANK OF AMERICA CORPORATION	+15.30%	304B
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED	+24.61%	256B
WELLS FARGO & COMPANY	+23.32%	212B
CHINA CONSTRUCTION BANK CORPORATION	+26.24%	191B
BANK OF CHINA LIMITED	+32.89%	172B
HSBC HOLDINGS PLC	+8.87%	164B
ROYAL BANK OF CANADA	+8.46%	151B
COMMONWEALTH BANK OF AUSTRALIA	+8.94%	136B

Other Banks