RELAISNasdaq HelsinkiAuto PartsIFRS · EUR

Relais Group Oyj

Relais Group is a consolidator and acquisition platform focused on the commercial vehicle aftermarket in Northern Europe. The company enhances vehicle life cycles and provides related services, operating as a growth platform for its subsidiaries. Relais Group is known for its strategic acquisitions, which have significantly expanded its market presence across the Nordics and beyond. The company's business model emphasizes resilience and growth through both organic means and strategic acquisitions.

Ask about the company
Revenue383m EUR
+18.8 %y/y
Operating profit (EBIT)29.5m EUR
−10.5 %y/y
EBIT margin7.7%
−2.5 ppy/y
Net income15.7m EUR
−15.3 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

0100200300400m EUR2021: 238 m EUR2021: EBIT 23 m EUR20212022: 261 m EUR2022: EBIT 20 m EUR20222023: 284 m EUR2023: EBIT 25 m EUR20232024: 323 m EUR2024: EBIT 33 m EUR20242025: 383 m EUR2025: EBIT 30 m EUR2025TTM 2026: 379 m EURTTM379
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year
Ask Clarifo about Relais Group Oyj

Business

Share of revenue
Commercial Vehicle Repair35 %

Repair and maintenance services for commercial vehicles.

Technical Wholesale45 %

Wholesale distribution of vehicle parts and accessories.

Truck Accessories20 %

Distribution of accessories for trucks, primarily in Benelux and Germany.

Customers

Relais Group serves a diverse range of customers in the vehicle aftermarket sector. Its primary customers include independent commercial vehicle repair workshops and distributors of vehicle parts and accessories. The company also caters to fleet operators and logistics companies that require reliable maintenance and parts supply. By focusing on the aftermarket, Relais Group targets segments with less cyclicality and stable demand, ensuring consistent revenue streams.

Independent Workshops

Purchase parts and maintenance services to support operations.

Distributors

Buy wholesale vehicle parts for resale in local markets.

Fleet Operators

Require regular maintenance and parts for fleet management.

Strategy

Relais Group's strategy focuses on growth through acquisitions, organic expansion, and operational excellence. The company aims to enhance shareholder value by integrating acquired businesses and optimizing their performance. By maintaining a strong balance sheet and securing sustainable financing, Relais Group supports its acquisitive growth strategy. The company is committed to identifying and acquiring businesses that align strategically with its existing operations, ensuring a cohesive and scalable growth platform.

AcquisitionsMedium term

To expand market presence and capabilities.

Operational ExcellenceLong term

To improve efficiency and profitability.

Organic GrowthShort term

To enhance existing operations and market share.

Geography

Relais Group has a strong geographic presence in Northern Europe, particularly in the Nordic countries. The company has expanded its operations through acquisitions in Sweden, Norway, and Finland, and has recently entered the Benelux and German markets. Its strategic location in these regions allows it to effectively serve the commercial vehicle aftermarket with minimal cyclicality. The company's operations are supported by a network of workshops and distribution centers across these countries.

Risks

Relais Group faces several business and financial risks, including economic fluctuations and changes in market conditions. The availability and valuation of suitable acquisition targets are critical for its growth strategy. The company is also exposed to geopolitical risks in its main markets, which could impact operations. Additionally, managing working capital effectively and maintaining competitive positioning are ongoing challenges. Cybersecurity risks and supplier dependencies are also notable concerns.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Economic Fluctuations1Acquisition Target Valuation2Geopolitical Risks3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Economic FluctuationsImpact: HighLikelihood: High

    Affect demand for aftermarket services.

  2. Acquisition Target ValuationImpact: HighLikelihood: Medium

    Critical for growth strategy.

  3. Geopolitical RisksImpact: MediumLikelihood: Medium

    Impact operations in key markets.

Ask Clarifo about Relais Group Oyj

Accounting

Judgemental items
Revenue Recognition Timing

Impacts reported earnings, especially in acquisitions.

Goodwill Impairment

Critical post-acquisition to assess asset value.

Lease Accounting (IFRS 16)

Affects balance sheet and financial ratios.

Similar listed companies

Publicly listed companies with a comparable business focus.

Gränges

GRNG · Basic Materials

O'Reilly Automotive, Inc

ORLY · Retail-Auto & Home Supply Stores

Group 1 Automotive, Inc

GPI · Retail-Auto Dealers & Gasoline Stations

LKQ Corporation

LKQ · Wholesale-Motor Vehicles & Motor Vehicle Parts & Supplies

Volati Pref

VOLO-PREF · Industrials

Volati

VOLO-PREF · Industrials

Last updated: 24/09/2026