Published: 3/22/2023 2:01:21 PM
Eevia Health Plc (publ) (”Eevia Health”, “Eevia” or “the Company”) is at a stage where the Company is scaling up the production capacity, focusing on higher margin extracts, and developing new proprietary ingredients targeting eye disorders, which constitute strong value drivers ahead. Based on current estimates as well as a slightly lower applied EV/EBIT multiple of 4.5x (5.0) due to revenue growing slower than our expectations in 2022, we lower our present valuation in terms of Market Cap to SEK 136m (140) in a Base scenario. Additionally, with respect to the new share count after the rights issue in November 2022, this corresponds to a value per share of SEK 4.5. This is lower in terms of value per share compared to our update in September, which is merely a technical adjustment due to an increase in shares outstanding.
Link to the analysis