The results roughly met expectations in Q4, with a nice surprise at the FCF level. It was an occasion for the company to shed more light on 2021, which did not appear that bright, especially at the profitability level where we see downward pressures on our estimates.

22 Feb 2021
Q4 20: still a dull market for 2021

Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Q4 20: still a dull market for 2021
The results roughly met expectations in Q4, with a nice surprise at the FCF level. It was an occasion for the company to shed more light on 2021, which did not appear that bright, especially at the profitability level where we see downward pressures on our estimates.