In this equity research report, analysts Adam Bursic and Måns Holmgren provide a detailed analysis of
Fodelia Oyj, a distinctive player in the Finnish food manufacturing market. In Q2 2024A, the Company
announced a strategic restructuring, transitioning from a holding company to an active operational
player. This transition is expected to unlock synergies, driving a forecasted 24.4% EBIT CAGR through
2027E. Based on an equally weighted DCF model, precedent transactions analysis, and peer valuation,
the analysts establish a target price of EUR 8.17 for 2026E, implying a potential upside of 30.4%.
Investment highlights
● Strategic restructuring from holding structure to active player unlocks operational synergies
● Rapid growth of subsidiaries captures market share from higher-cost competitors
● Growth-focused capital allocation drives margin expansion by 370 bps until 2027E