Munters Group AB: Strong Financial Performance and Strategic Positioning Justify Buy Rating

Jefferies analyst Adela Dashian maintained a Buy rating on Munters Group AB (MMNNF – Research Report) today and set a price target of SEK155.00.

Adela Dashian has given her Buy rating due to a combination of factors that highlight Munters Group AB’s strong financial performance and strategic positioning. The company reported impressive net sales growth of 18% year-over-year, with a notable 5% organic increase, surpassing market expectations. This growth was primarily driven by the DCT and FoodTech segments, which saw significant organic increases of 43% and 23%, respectively, despite some challenges in the AirTech segment.
Furthermore, the company’s adjusted EBITA exceeded consensus estimates by 14%, with DCT margins outperforming expectations at 22.8%. Although AirTech faced pressure due to lower demand from the battery market, Munters Group AB is implementing cost-saving measures that are expected to improve margins gradually. The strong order intake, which increased by 27% year-over-year and 8% organically, further supports the Buy rating, as it indicates robust demand across key segments, particularly in FoodTech and AirTech.