Elanders AB Class B (ELAN.B) AI Stock Analysis

• Market Cap: kr2.46B
• Dividend Yield: 6.6%
• Average Volume (3M): 14.83K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.65
• Revenue Growth: -7.32%
• EPS Growth: -139.66%
• Country: SE
• Employees: 6,983
• Sector: Industrials
• Sector Strength: 72
• Industry: Specialty Business Services
• EPS (TTM): 2.27
• Shares Outstanding: 33,542,940
• 10 Day Avg. Volume: 13,403
• 30 Day Avg. Volume: 14,830
• PEG Ratio: -0.61
• Price to Book (P/B): 0.76
• Price to Sales (P/S): 0.22
• P/FCF Ratio: 2.54
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: kr71.00 ▲(7.09% Upside)

Overall score reflects pressured fundamentals (declining revenue, negative TTM profitability, and high leverage) partly offset by resilient free cash flow. Technicals are supportive with price above key moving averages and positive momentum. Valuation is mixed due to a negative P/E, but the ~6% dividend yield provides some support.

Positive Factors

Diversified service portfolio

Elanders' mix of supply‑chain management, print & packaging and e‑commerce services creates multiple revenue pillars and cross‑selling routes. This diversification reduces exposure to any single end‑market cycle, supports client retention and steadier revenue over a multi‑month horizon.

Robust cash generation

Despite accounting losses, the company converts operations into substantial cash (TTM OCF ~1.38B, FCF ~1.21B with FCF +6.6%). Durable cash generation supports working capital, debt service and selective reinvestment, providing a financial cushion across the coming months.

E‑commerce exposure and partnerships

Exposure to growing e‑commerce demand and strategic partnerships gives Elanders scalable, recurring revenue opportunities. Structural online retail expansion and partner distribution can drive steady demand and deepen client relationships, supporting medium‑term revenue stability.

Negative Factors

Declining revenue and negative profitability

A falling top line (TTM -5.3%) alongside a negative net margin (~-0.9%) signals weakening demand or pricing pressure and reduces retained earnings. Persistent revenue decline and losses impair the firm's ability to invest, hamstring margin recovery and pressure returns over the medium term.

High and rising leverage

Leverage has roughly doubled versus 2020 (D/E ~2.64), increasing financial risk. With profitability negative, elevated debt limits flexibility for capital allocation, raises refinancing and covenant risk, and constrains the company’s ability to pursue growth or absorb shocks over months ahead.

Compressed operating margins

EBIT margin fell from ~5.5% to ~3.2%, indicating cost or pricing pressure. Lower operating profitability reduces the buffer to fund investments and service debt, making the business more sensitive to cost inflation and competitive pricing, and slowing durable margin recovery.

Elanders AB Class B Business Overview & Revenue Model

Company Description

Elanders AB (publ), a logistics company, provides supply chain management, and print and packaging solutions primarily in Sweden, rest of Europe, Asia, North and South America, and internationally. It offers global order management services; sourcing and procurement services; custom configuration and assembly services; warehousing and inventory management; and print and packaging services. The company also provides fulfillment and distribution services; freight services; after sales services, such as warehousing spare parts, accessories, replacement equipment, and consumables, as well as repairs and service; and e-commerce services. In addition, the company sells photo products under the fotokasten and myphotobook brands. It serves automotive, electronics, fashion and lifestyle, health care and life science, and industrial sectors. The company was incorporated in 1908 and is headquartered in Mölndal, Sweden. Elanders AB (publ) is a subsidiary of Carl Bennet AB.

How the Company Makes Money

Elanders generates revenue primarily through its diverse service offerings in supply chain management, which includes logistics, warehousing, and distribution services. Additionally, the company earns income from its print and packaging division, providing customized solutions for brands looking to enhance their product presentation and marketability. As part of its revenue model, Elanders has established strategic partnerships with key players in various industries, enabling them to expand their market reach and improve service delivery. The company also benefits from a growing e-commerce sector, offering tailored solutions that address the specific needs of online retailers, thus creating additional revenue streams.

Elanders AB Class B Financial Statement Overview

Summary

Elanders AB demonstrates a solid financial position with strong revenue growth and zero debt, enhancing its stability. However, declining net income and lower return on equity indicate areas for improvement. Cash flow management remains effective, but the company should focus on improving profitability and cash conversion to sustain long-term growth.

Income Statement

Elanders AB shows positive revenue growth from 2023 to 2024, driven by a significant increase in total revenue. Gross profit margin improved slightly, reflecting better cost management. However, net profit margin decreased due to a decline in net income, signaling potential profitability challenges. EBIT and EBITDA margins remained stable, indicating operational efficiency.

Balance Sheet

The balance sheet saw a significant improvement in the equity ratio, suggesting a strong financial position with an increase in stockholders' equity relative to total assets. The company eliminated its total debt by 2024, reducing financial risk. Return on equity decreased due to lower net income, which may affect shareholder value in the long term.

Cash Flow

Operating cash flow decreased, but free cash flow remained positive, indicating effective capital expenditure management. The free cash flow to net income ratio is high, showing strong cash generation relative to net income. However, the operating cash flow to net income ratio decreased, suggesting potential challenges in converting income into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	12.92B	14.14B	13.87B	14.97B	11.73B	11.05B
Gross Profit	2.26B	2.41B	2.35B	2.23B	1.64B	1.57B
EBITDA	744.00M	2.19B	1.97B	1.94B	1.47B	1.41B
Net Income	-115.00M	176.00M	248.00M	470.00M	322.30M	287.10M
Balance Sheet
Total Assets	15.57B	17.07B	15.63B	14.57B	11.80B	8.64B
Cash, Cash Equivalents and Short-Term Investments	1.03B	1.14B	1.11B	904.00M	898.10M	1.10B
Total Debt	9.24B	10.09B	9.23B	8.10B	6.05B	3.85B
Total Liabilities	12.04B	12.96B	11.77B	10.70B	8.50B	5.73B
Stockholders Equity	3.50B	4.08B	3.84B	3.83B	3.28B	2.89B
Cash Flow
Free Cash Flow	1.21B	1.22B	1.58B	868.10M	923.70M	1.63B
Operating Cash Flow	1.38B	1.42B	1.78B	1.11B	1.06B	1.73B
Investing Cash Flow	-193.00M	-1.25B	-1.01B	-274.30M	-1.39B	-115.70M
Financing Cash Flow	-1.15B	-207.00M	-532.50M	-897.90M	54.20M	-1.06B

Elanders AB Class B Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 66.30
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ELAN.B, the sentiment is Positive. The current price of 66.3 is above the 20-day moving average (MA) of 64.23, above the 50-day MA of 62.98, and above the 200-day MA of 59.26, indicating a bullish trend. The MACD of 1.97 indicates Negative momentum. The RSI at 64.09 is Neutral, neither overbought nor oversold. The STOCH value of 89.41 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:ELAN.B.

Elanders AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
SVIK	60 Neutral	kr2.28B	109.32	5.48%	0.82%	3.86%	-28.91%
QAIR	57 Neutral	kr306.10M	29.75	5.17%	―	-5.37%	23.22%
ELAN.B	56 Neutral	kr2.46B	-21.15	-3.09%	6.60%	-7.32%	-139.66%
ELTEL	56 Neutral	kr1.45B	107.07	0.72%	―	-6.38%	―
SALT.B	39 Underperform	kr935.49M	-12.96	-40.77%	―	11.85%	6.39%

Elanders AB Class B Corporate Events

Elanders Sets Date for 2025 Year-End Report and Investor Call

Elanders has scheduled the publication of its 2025 year-end report for 28 January 2026 at 07:30 CET, followed by a conference call at 09:30 CET led by President and CEO Magnus Nilsson and Group CFO Åsa Vilsson. The company is inviting fund managers, analysts and media to join the call, during which management will present the results, take questions and provide access to supporting presentation materials, with a recording available until late April, underscoring Elanders’ ongoing emphasis on transparency and engagement with the capital markets.

The most recent analyst rating on ($SE:ELAN.B) stock is a Hold with a SEK70.00 price target. To see the full list of analyst forecasts on Elanders AB Class B stock, see the SE:ELAN.B Stock Forecast page.

Elanders Announces Leadership Change in Group Management

Elanders announced a change in its Group Management as Kok Khoon Lim steps down from his role as CEO of the subsidiary Mentor Media, transitioning to a Senior Advisor role focused on strategic initiatives. Simon Sim, with over 20 years of experience in contract logistics, will succeed him, aiming to enhance offerings to current customers, explore new customer segments, and drive expansion in Asia. This leadership change is expected to strengthen Elanders’ market position and support its growth strategy in the Asian logistics sector.

The most recent analyst rating on ($SE:ELAN.B) stock is a Hold with a SEK65.00 price target. To see the full list of analyst forecasts on Elanders AB Class B stock, see the SE:ELAN.B Stock Forecast page.

Elanders AB Releases Q3 2025 Report Highlighting Stable Performance

Elanders AB has released its quarterly report for January to September 2025, highlighting its performance in the logistics industry. The report indicates the company’s continued focus on providing integrated supply chain solutions across its key markets. Although specific financial figures are not detailed, the report suggests a stable operational performance, potentially impacting its market positioning positively.

The most recent analyst rating on ($SE:ELAN.B) stock is a Hold with a SEK62.00 price target. To see the full list of analyst forecasts on Elanders AB Class B stock, see the SE:ELAN.B Stock Forecast page.