EBITDA was up by 2.5% despite an expected 2.2% revenue decline, reflecting the clear effects of a continued restructuring in Switzerland.
A positive quarter for a defensive stock. Note that the dividend will be maintain for 2020 at CHF22, taking this same dividend run to nine years. The stock is trading 15% below its end-2019 levels and we are at Add with 15% upside.
29 Oct 2020
An EBITDA up by 2.5% despite a 2.2% revenue decline
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An EBITDA up by 2.5% despite a 2.2% revenue decline
EBITDA was up by 2.5% despite an expected 2.2% revenue decline, reflecting the clear effects of a continued restructuring in Switzerland.
A positive quarter for a defensive stock. Note that the dividend will be maintain for 2020 at CHF22, taking this same dividend run to nine years. The stock is trading 15% below its end-2019 levels and we are at Add with 15% upside.