Casino’s Q1 FY22 performance was ahead of our expectations. The beat was witnessed in both the same store sales and EBITDA. The French business has posted growth in the first four weeks of Q2, which is a positive change after many quarters. The net debt is still higher than our comfort levels and we expect the asset disposal plan to be achieved faster than the management’s timeline of end-2023. We maintain our positive stance based on the stock’s valuation.
23 Apr 2022
Getting back on its feet, gradually!
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Getting back on its feet, gradually!
- Published:
23 Apr 2022 -
Author:
Nishant Choudhary -
Pages:
3
Casino’s Q1 FY22 performance was ahead of our expectations. The beat was witnessed in both the same store sales and EBITDA. The French business has posted growth in the first four weeks of Q2, which is a positive change after many quarters. The net debt is still higher than our comfort levels and we expect the asset disposal plan to be achieved faster than the management’s timeline of end-2023. We maintain our positive stance based on the stock’s valuation.