Q: Savaria with another strong day
What is the Long term plan of Savaria?
What is the Long term plan of Savaria?
5i Research Answer:
SIS rose about 15% last week on the strength of an earnings beat, plus a positive shift in the markets overall. SIS plans to continue to integrate its acquisitions, and look for more deals to consolidate its product offerings and expand its territory. We would not expect a 'big' acquisition as it wants to pay down debt acquired from its Handicare deal. Debt is down about $70M from year end 2022. The 3Q was its strongest quarter ever, with organic growth of 5.1%. Its main goal right now is to see $1B in revenue by 2025. This is from 2023 estimates of $835M.