Adding Rudd to our estimates, sales +107-103% for '24e-'25e. 9-7x '24e-'25e EV/EBIT and 2.0-1.4x ND/EBITDA. Q3 a disappointment on higher costs and NWC build-up.
20 Nov 2023
A new frontier
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A new frontier
- Published:
20 Nov 2023 -
Author:
Adrian Gilani | ABGSC Capital Goods Research -
Pages:
13 -
Adding Rudd to our estimates, sales +107-103% for '24e-'25e. 9-7x '24e-'25e EV/EBIT and 2.0-1.4x ND/EBITDA. Q3 a disappointment on higher costs and NWC build-up.