Nilar: Stored potential, electrifying growth - Berenberg says 'buy'
10/06/2021 09:12
** Berenberg initiates the coverage of Nilar NILAR.ST with
a "buy" rating and TP of SEK 80 citing the Swedish storage
battery manufacturer's growth potential
** The market for electrical energy storage (EES) is
expected to grow by 19x by 2030 in the Europe, Middle East,
Africa, Russia and Caspian region, the brokerage says
** It expects the recently Nasdaq-listed Nilar to be a key
beneficiary of this exponentially growing market, owing to the
company's unique and differentiated product offering
** Berenberg forecasts Nilar to deliver about 825MWh of
storage by 2024 and reach annual sales of more than SEK 1.6
billion ($193.51 million) by 2024
** The broker estimates that service revenues and improving
economies of scale will allow Nilar to be EBITDA-positive by
2023 and reach its over 20% EBITDA margin target by 2024
($1 = 8.2682 Swedish crowns)
((marta.frackowiak@thomsonreuters.com))