Anora: Expected return improved with share price drop
By Rauli Juva
Anora's share has fallen by more than 25% since the weak Q4 report. The business is fundamentally stable and defensive, and we expect steady earnings growth in the coming years. We feel the lower valuation already offers a sufficient expected return.
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Anora Group
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Anora Group is a producer of alcoholic beverages. The product portfolio consists of wine and spirits marketed under various brands. The largest operations are found in the Nordics and the Baltics, and the company's products are exported to retailers in Europe and North America. The company was created through a merger of Altia and Arcus in 2021 and has its headquarters in Helsinki.
Read more on company pageKey Estimate Figures28.03.2023
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 702.7 | 740.0 | 754.8 |
growth-% | 5.66 % | 5.32 % | 2.00 % |
EBIT (adj.) | 42.9 | 47.0 | 55.2 |
EBIT-% (adj.) | 6.11 % | 6.35 % | 7.32 % |
EPS (adj.) | 0.39 | 0.37 | 0.49 |
Dividend | 0.22 | 0.26 | 0.34 |
Dividend % | 2.99 % | 5.56 % | 7.36 % |
P/E (adj.) | 19.03 | 12.60 | 9.51 |
EV/EBITDA | 11.44 | 6.79 | 5.86 |
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