Factoring in the dilution from CSG and a deterioration in the 2023 performance
OPINION CHANGE
CHANGE IN OPINION Reduce vs Buy
CHANGE IN EPS
2023 : € (0.02) vs 0.03 ns
2024 : € 0.05 vs 0.11 -55.4%
We have trimmed our EPS estimates after the group withdrew its sales guidance. With sales now expected to be lower than €100, we believe that there is a threat to licensing revenues, which directly add to profits. Additionally, vehicle sales could also be impacted, which would lead to unde ....
