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Prevas

Prevas

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Prevas is a technological consultancy firm specialised in products and production solutions, working within areas such as digitalisation, sustainability, connectivity, and life science. Prevas has diverse end markets: the most significant are life science, engineering, energy and defence. The company’s clients are global, but most of its personnel are located in Sweden. Prevas’ strategy is to provide critical value to its customers and therefore to sustain long client relationships.

Sustainability information

Prevas is largely dependent on investment activities in its sectors (such as energy, engineering and life science), which can experience drawdowns in recessions. The company also needs to attract and retain qualified employees to sustain its operations, and there is a growing shortage of engineers in Sweden. That could lead to higher salaries and difficulties employing and retaining staff, as prospective employees have greater bargaining power.

Financials

SEKm 2025 2026e 2027e
Sales 1626,99 1622,16 1712,95
Sales growth (%) 2,5 -0,3 5,6
EBITDA 165 162 218
EBITDA margin (%) 10,2 10 12,7
EBIT adj. 108 116 156
EBIT adj. margin (%) 6,7 7,1 9,1
Pretax profit 93 88 143
EPS 5,49 5,34 8,85
EPS growth (%) -22,9 -2,8 65,8
EPS adj. 6,66 6,72 9,28
DPS N/A N/A N/A
Dividend per share 4 4 4,75
EV/EBITDA (x) 7,2 7 4,9
EV/EBIT adj. (x) 11 9,8 6,8
P/E (x) 12,27 12,62 7,61
P/E adj. (x) 10,1 10 7,3
EV/sales (x) 0,73 0,7 0,62
FCF yield (%) 13,7 13,4 18,1
Le. adj. FCF yld. (%) 9,6 9,9 13,7
Dividend yield (%) 5,9 5,9 7
Net IB debt/EBITDA (x) 1,6 1,3 0,6
Le. adj. ND/EBITDA (x) 0,9 0,5 0
SEKm 2025 2026e 2027e
Sales 1626,99 1622,16 1712,95
COGS 0 0 0
Gross profit 1627 1622 1713
Other operating items -1462 -1460 -1495
EBITDA 165 162 218
Depreciation and amortisation -47 -46 -49
of which leasing depreciation N/A N/A N/A
Depreciation on leased assets -41 -40 -43
EBITA 118,22 115,42 168,76
EO Items N/A N/A N/A
Operating EO items -2 -13 0
Impairment and PPA amortisation N/A N/A N/A
Impairment and amortisation charges -12 -12 -13
EBIT 105,86 102,99 155,97
Net financial items -13 -15 -13
Pretax profit 93 88 143
Tax -20 -20 -32
Net profit 72 68 112
Minority interest 2 -1 -2
Net profit discontinued 0 0 0
Net profit to shareholders 74 67 110
EPS 5,49 5,34 8,85
EPS adj. 6,66 6,72 9,28
Total extraordinary items after tax -2 -10 0
Leasing payments -41 -40 -43
Tax rate (%) 21,9 23 22
Gross margin (%) 100 100 100
EBITDA margin (%) 10,2 10 12,7
EBITA margin (%) 7,3 7,1 9,9
EBIT margin (%) 6,5 6,3 9,1
Pre-tax margin (%) 5,7 5,5 8,4
Net margin (%) 4,5 4,2 6,5
Growth Rates y-o-y N/A N/A N/A
Sales growth (%) 2,5 -0,3 5,6
EBITDA growth (%) -5,4 -2,1 34,6
EBITA growth (%) -10,7 -2,4 46,2
EBIT growth (%) -13,7 -2,7 51,4
Net profit growth (%) -21,4 -6,1 64,3
EPS growth (%) -22,9 -2,8 65,8
Profitability N/A N/A N/A
Year N/A N/A N/A
ROE (%) 11,5 10,3 15,6
ROE adj. (%) 13,8 13,6 17,4
ROCE (%) 10,5 10,7 16,2
ROCE adj. (%) 11,9 13,3 17,5
ROIC (%) 9,4 9,4 14,1
ROIC adj. (%) 9,6 10,4 14,1
Adj. earnings numbers N/A N/A N/A
EBITDA adj. 168 174 218
EBITDA adj. margin (%) 10,3 10,7 12,7
EBITDA lease adj. 126 134 175
EBITDA lease adj. margin (%) 7,8 8,3 10,2
EBITA adj. 121 128 169
EBITA adj. margin (%) 7,4 7,9 9,9
EBIT adj. 108 116 156
EBIT adj. margin (%) 6,7 7,1 9,1
Pretax profit Adj. 108 113 156
Net profit Adj. 87 90 125
Net profit to shareholders adj. 88 89 122
Net adj. margin (%) 5,3 5,6 7,3
SEKm 2025 2026e 2027e
EBITDA 165 162 218
Goodwill 673 686 686
Net financial items -13 -15 -13
Other intangible assets 41 30 17
Paid tax -41 -32 -32
Tangible fixed assets 13 13 16
Non-cash items 1 1 0
Right-of-use asset 146 118 109
Cash flow before change in WC 113 116 174
Total other fixed assets N/A N/A N/A
Other Fixed Assets All 37 34 34
Change in working capital 31 7 -7
Fixed assets 909 881 861
Operating cash flow 144 123 166
Inventories 2 2 3
Capex tangible fixed assets -3 -5 -8
Receivables 334 267 282
Capex intangible fixed assets -4 -1 -1
Other current assets 99 153 162
Acquisitions and Disposals -17 0 0
Cash and liquid assets 21 11 54
Free cash flow 119 117 157
Total assets 1366 1314 1362
Dividend paid -63 -53 -52
Shareholders equity 639 672 735
Share issues and buybacks 0 0 0
Minority 60 59 56
Leasing liability amortisation -36 -31 -38
Total equity 699 731 791
Other non-cash items N/A N/A N/A
Other changes in net debt 13 30 5
Long-term debt 88 27 3
Pension debt 0 0 0
Convertible debt 0 0 0
Leasing liability 147 133 129
Total other long-term liabilities 83 77 77
Short-term debt 49 55 55
Accounts payable 69 75 79
Other current liabilities 231 215 227
Total liabilities and equity 1366 1314 1362
Net IB debt 263 206 133
Net IB debt excl. pension debt 263 206 133
Net IB debt excl. leasing 116 72 5
Capital employed 983 947 978
Capital invested 962 936 925
Working capital 136 133 140
EV breakdown N/A N/A N/A
Market cap. diluted (m) 868 868 868
Net IB debt adj. 263 206 133
Market value of minority 60 59 56
Reversal of shares and participations 0 0 0
Reversal of conv. debt assumed equity N/A N/A N/A
EV 1191 1133 1058
Total assets turnover (%) 116,1 121 128
Working capital/sales (%) 8,9 8,3 8
Year N/A N/A N/A
Financial risk and debt service N/A N/A N/A
Net debt/equity (%) 37,6 28,1 16,9
Net debt / market cap (%) 30,3 23,7 15,4
Equity ratio (%) 51,2 55,6 58,1
Net IB debt adj. / equity (%) 37,6 28,1 16,9
Current ratio 1,31 1,26 1,38
EBITDA/net interest 12,7 11,1 17,3
Net IB debt/EBITDA (x) 1,6 1,3 0,6
Net IB debt/EBITDA lease adj. (x) 0,9 0,5 0
Interest coverage 9,1 7,9 13,4
SEKm 2025 2026e 2027e
Shares outstanding adj. 13 13 13
Diluted shares adj. 13 13 13
EPS 5,49 5,34 8,85
Dividend per share 4 4 4,75
EPS adj. 6,66 6,72 9,28
BVPS 49,63 52,16 57,02
BVPS adj. -5,79 -3,35 2,5
Net IB debt/share 20,4 15,96 10,36
Share price 67,4 67,4 67,4
Market cap. (m) 868 868 868
Valuation N/A N/A N/A
P/E (x) 12,27 12,62 7,61
EV/sales (x) 0,73 0,7 0,62
EV/EBITDA (x) 7,2 7 4,9
EV/EBITA (x) 10,1 9,8 6,3
EV/EBIT (x) 11,3 11 6,8
Dividend yield (%) 5,9 5,9 7
FCF yield (%) 13,7 13,4 18,1
Le. adj. FCF yld. (%) 9,6 9,9 13,7
P/BVPS (x) 1,36 1,29 1,18
P/BVPS adj. (x) -26,16 -64,56 17,69
P/E adj. (x) 10,1 10 7,3
EV/EBITDA adj. (x) 7,1 6,5 4,9
EV/EBITA adj. (x) 9,9 8,8 6,3
EV/EBIT adj. (x) 11 9,8 6,8
EV/CE (x) 1,2 1,2 1,1
Year N/A N/A N/A
Investment ratios N/A N/A N/A
Capex/sales (%) -0,5 -0,4 -0,5
Capex/depreciation 1,3 1 1,5
Capex tangibles / tangible fixed assets 24,3 38,5 50,8
Capex intangibles / definite intangibles N/A N/A N/A
Depreciation on intang / def. intang N/A N/A N/A
Depreciation on tangibles / tangibles 38,45 38,17 31,28

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Media

Prevas - Company presentation with CEO Magnus Welén
Prevas - Company presentation with CEO Magnus Welén

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Main shareholders - Prevas

Main shareholders Share capital % Voting shares % Verified
Göran Lundin 8.5 % 14.7 % 28 Sep 2026
Per Vannesjö 10.5 % 12.8 % 28 Sep 2026
DeVenture AB 10.4 % 12.0 % 28 Sep 2026
Avanza Pension 6.3 % 4.8 % 28 Sep 2026
Amiral Gestion 5.0 % 3.9 % 23 Oct 2026
Helena Lundin 4.2 % 3.3 % 28 Sep 2026
Magnus Lundin 3.2 % 2.5 % 28 Sep 2026
Amundi 3.1 % 2.4 % 31 Aug 2026
Ulrika Grönberg 2.9 % 2.2 % 28 Sep 2026
Handelsbanken Fonder 2.5 % 1.9 % 30 Sep 2026
Source: Holdings by Modular Finance AB