The Q323 results were decent, with good control over costs which, in a context of lower volumes and prices, enabled the group to deliver a bit more than we had expected in terms of profits. We do not see the trends reversing in the short term but consider that we have been overly pessimist and will most likely revise our forecasts upwards for the current year at least with, however, no major change in our target price.
09 Nov 2023
No real change after the Q323 results
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No real change after the Q323 results
The Q323 results were decent, with good control over costs which, in a context of lower volumes and prices, enabled the group to deliver a bit more than we had expected in terms of profits. We do not see the trends reversing in the short term but consider that we have been overly pessimist and will most likely revise our forecasts upwards for the current year at least with, however, no major change in our target price.