AlphaValue Corporate Services
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From an industrialist to a luxury player?
Upside 113%
Price (€) 8.07
Market Cap (€M) 202
Perf. 1W: 0.50%
Perf. 1M: -27.8%
Perf. 3M: -26.2%
Perf Ytd: -40.5%
10 day relative perf. to stoxx600: -5.45%
20 day relative perf. to stoxx600: -28.2%
EPS change28/01/2021

Upgraded FY20 EBIT guidance improves earnings outlook

Change in EPS2020 : € 2.07 vs 1.94+6.40%
2021 : € 0.78 vs 0.75+3.66%

We have raised our EPS estimates for FY20 and FY21 on the back of an upgraded recurring operating profit guidance, from >€70m to over €75m. As a result, we have increased our underlying EBIT estimates from €71.8m to €76.1m in FY20, also increasing our operating result forecast for the Protective Films division (from €16.6m previously to €17.6m) driven by the division’s FY20 reported revenues of €270m, which came in above our forecast of €256m.