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1. Company Snapshot

1.a. Company Description

Caverion Oyj, together with its subsidiaries, operates as a service company in building systems, construction services, and services for industry in Northern and Central Europe.It designs, builds, operates, and maintains technical solutions for buildings and industries.The company provides a range of services, including technical and industrial maintenance, facility management, smart technologies, and advisory services; property management; delivers building technology and infrastructure projects, such as smart and energy efficient solutions; and industrial engineering and project management, technical and industrial project installations, data visualization, and analytics services.


Its services are used in offices and retail properties, housing, public premises, industrial plants and infrastructure, and other places.The company serves the public sector, real estate users, real estate investors and developers, and general contractors, as well as various industries.Caverion Oyj was founded in 1912 and is headquartered in Vantaa, Finland.

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1.b. Last Insights on CAV1V

Caverion Oyj's flat performance over the past three months can be attributed to the company's strategic combination with Assemblin, which has led to a more streamlined organization. The company's focus on technical facility management and process electrical installations has also contributed to its stable performance. Additionally, the appointment of a new interim CFO has brought stability to the company's financial management.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Crayfish BidCo Oy has gained title to the minority shares in Caverion Corporation and the Caverion shares will be delisted from Nasdaq Helsinki

Jul -01

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Decisions of Caverion Corporation's Annual General Meeting and constitutive meeting of the Board of Directors

Jun -12

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Caverion publishes certain key figures following the announcement of an offering of senior secured notes by Caverion's indirect parent company

Jun -10

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Caverion Corporation publishes condensed unaudited consolidated interim financial statements as of and for the three months ended 31 March 2024

May -30

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Notice convening the Annual General Meeting of Caverion Corporation

May -22

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Caverion to deliver process electrical and instrumentation installations in the Stora Enso Oulu mill

May -08

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The arbitral tribunal has confirmed Crayfish BidCo Oy's redemption right over Caverion Corporation's minority shares and trading in the Caverion shares will be suspended

May -02

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Pasi Päivärinta appointed as interim CFO of Caverion

Apr -30

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.85%)

6. Segments

Services

Expected Growth: 3.5%

Caverion Oyj's 3.5% growth in services is driven by increasing demand for energy-efficient solutions, growing need for digitalization and automation in buildings, and rising focus on sustainability and environmental responsibility. Additionally, the company's strategic acquisitions and partnerships have expanded its service offerings and geographic presence, contributing to its growth momentum.

Projects

Expected Growth: 4.5%

Caverion Oyj's 4.5% growth is driven by increasing demand for energy-efficient solutions, expansion into new markets, and strategic acquisitions. Additionally, the company's focus on digitalization, sustainability, and customer-centric services contributes to its growth. Furthermore, the rising need for building automation and HVAC systems in the construction industry also supports Caverion's growth momentum.

7. Detailed Products

Building Automation

Caverion Oyj provides building automation solutions that integrate various systems such as HVAC, lighting, and security to create a comfortable, safe, and energy-efficient environment.

Heating and Sanitation

Caverion Oyj offers heating and sanitation solutions that provide reliable and efficient heating, cooling, and sanitation systems for buildings.

Cooling

Caverion Oyj provides cooling solutions that include air conditioning, refrigeration, and cooling systems for various industries.

Electrical Engineering

Caverion Oyj offers electrical engineering solutions that include electrical distribution, lighting, and electrical installation services.

Industrial Insulation

Caverion Oyj provides industrial insulation solutions that reduce energy consumption, minimize emissions, and improve process efficiency.

Process Industry

Caverion Oyj offers process industry solutions that include process automation, instrumentation, and electrical engineering services.

Real Estate Services

Caverion Oyj provides real estate services that include technical maintenance, repair, and operation services for buildings.

8. Caverion Oyj's Porter Forces

Forces Ranking

Threat Of Substitutes

Caverion Oyj operates in the building services industry, where substitutes are limited. However, the company faces some threat from alternative solutions such as energy-efficient systems and renewable energy sources.

Bargaining Power Of Customers

Caverion Oyj's customers are primarily large corporations and government institutions, which have limited bargaining power due to their dependence on the company's specialized services.

Bargaining Power Of Suppliers

Caverion Oyj relies on a network of suppliers for materials and equipment. While the company has some bargaining power due to its large scale, suppliers of specialized components may have some negotiating power.

Threat Of New Entrants

The building services industry has high barriers to entry due to the need for specialized skills, equipment, and licenses. New entrants would face significant challenges in competing with established players like Caverion Oyj.

Intensity Of Rivalry

The building services industry is highly competitive, with several established players competing for market share. Caverion Oyj faces intense rivalry from companies such as ISS, Bilfinger, and SPIE.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 61.34%
Debt Cost 10.94%
Equity Weight 38.66%
Equity Cost 11.32%
WACC 11.08%
Leverage 158.67%

11. Quality Control: Caverion Oyj passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Talenom

A-Score: 5.3/10

Value: 6.5

Growth: 6.2

Quality: 7.2

Yield: 5.0

Momentum: 3.0

Volatility: 4.0

1-Year Total Return ->

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Stock-Card
De La Rue

A-Score: 4.9/10

Value: 8.3

Growth: 2.2

Quality: 3.7

Yield: 0.0

Momentum: 9.0

Volatility: 6.0

1-Year Total Return ->

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Stock-Card
RWS

A-Score: 4.9/10

Value: 9.1

Growth: 5.0

Quality: 5.9

Yield: 8.1

Momentum: 0.0

Volatility: 1.0

1-Year Total Return ->

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Stock-Card
Green Landscaping

A-Score: 4.4/10

Value: 7.3

Growth: 9.1

Quality: 5.7

Yield: 0.0

Momentum: 0.5

Volatility: 4.0

1-Year Total Return ->

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Stock-Card
Franchise Brands

A-Score: 4.2/10

Value: 5.5

Growth: 6.6

Quality: 5.9

Yield: 2.5

Momentum: 1.5

Volatility: 3.3

1-Year Total Return ->

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Stock-Card
Caverion

A-Score: 4.1/10

Value: 4.6

Growth: 4.9

Quality: 5.0

Yield: 2.5

Momentum: 4.0

Volatility: 3.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

8.76$

Current Price

8.76$

Potential

-0.00%

Expected Cash-Flows