The FY 21 results came in slightly higher than consensus.
This was driven by prices (c. +30%) and volumes (c. 10%).
Energy costs not so much of an issue as long as prices hold up.
The group announced a new share buy-back programme of up to €100m.
It remains to be seen how long prices can hold up at current levels, but the current context is clearly still supportive.
We’ll revise our numbers a tick upwards.
11 Feb 2022
A strong FY21 with a supportive Q1 22 outlook
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A strong FY21 with a supportive Q1 22 outlook
The FY 21 results came in slightly higher than consensus.
This was driven by prices (c. +30%) and volumes (c. 10%).
Energy costs not so much of an issue as long as prices hold up.
The group announced a new share buy-back programme of up to €100m.
It remains to be seen how long prices can hold up at current levels, but the current context is clearly still supportive.
We’ll revise our numbers a tick upwards.