(News Bulletin 247) – Following the announcement of the 2022 results, UBS confirms its advice to buy the share with a target of 80 E.
The analyst underlines that the turnover of the 4th quarter is up and that the outlook is cautious as expected.
‘ Fourth quarter revenue of 2,197 million euros was 3% higher than the 2,142 million euros forecast (+2% compared to the UBS index of 2,161 million euros), with revenue growth of +21% excluding currency effects (vs. +18%, UBS index of +19%). Q4 EBIT was €41m (versus €43m, €49m for UBS)’ UBS said.
The German sports equipment manufacturer said it anticipates sales growth of 5% to 10% this year 2023, for an operating profit (Ebit) expected between 590 and 670 million euros, against 641 million in 2022.
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