Pål Wibe’s first day as new CEO of XXL was an eventful one, with the share price soaring 85% on the back of the balance sheet restructuring news. While the Nordic sporting goods market remains challenging, XXL has now secured 18 months to improve profitability without constantly worrying about its debt covenant. While we continue to see downside risk for consensus estimates for 2020, we expect improving results from 2021 onwards to drive the share price higher.
02 Apr 2020
There is a new sheriff in town
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There is a new sheriff in town
Pål Wibe’s first day as new CEO of XXL was an eventful one, with the share price soaring 85% on the back of the balance sheet restructuring news. While the Nordic sporting goods market remains challenging, XXL has now secured 18 months to improve profitability without constantly worrying about its debt covenant. While we continue to see downside risk for consensus estimates for 2020, we expect improving results from 2021 onwards to drive the share price higher.