With FY22 figures already known, all eyes were on the FY23 outlook and FY22 dividend proposal. Neither disappointed! The dividend proposal came in 8% above expectations, highlighting the confidence for FY23 after a weak FY22. The newly-released guidance was more optimistic than consensus with profitability in line in relative terms, therefore calling for upgrades to FY23 EPS. With Conti’s Automotive unit seen as a tracker of the group’s long-awaited progress, we especially welcome the consensus- ....
