27% org growth, 14% EBIT beat on strong AM sales. 26% adj. EBIT CAGR '22-'25e on >30% margins. 23-14x EBIT '23e-'25e, ~40-50% ROCE, net cash.

23 Jul 2023
Near-term turbulence to subside in 2024

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Near-term turbulence to subside in 2024
- Published:
23 Jul 2023 -
Author:
Adrian Gilani | ABGSC Capital Goods Research | Karl Bokvist -
Pages:
16 -
27% org growth, 14% EBIT beat on strong AM sales. 26% adj. EBIT CAGR '22-'25e on >30% margins. 23-14x EBIT '23e-'25e, ~40-50% ROCE, net cash.