AlphaValue Corporate Services
This research has been commissioned and paid for by the company and is deemed to constitute an acceptable minor non-monetary benefit as defined in MiFID II


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From an industrialist to a luxury player?
Upside 115%
Price (€) 7.96
Market Cap (€M) 200
Perf. 1W: 0.25%
Perf. 1M: -25.0%
Perf. 3M: -27.6%
Perf Ytd: -41.3%
10 day relative perf. to stoxx600: -11.4%
20 day relative perf. to stoxx600: -27.6%
DCF Change23/11/2011

Change in DCF€ 6.34 vs 7.05-10.2%

We also include an amount of €-4m to partly offset "other operating cash flows" in the Cash Flow Statement (adjustment line which was no longer taken into account from 2014 in our model).