FY21 results are in line with both consensus and our numbers (even slightly higher).
By segment, the group’s top line was driven by all segments and geographies after a weaker FY20.
The trends in Q4 are very similar to what was witnessed in Q3.
The outlook is similar to what it has been “for years”, so no surprise on that front either.
Expect only marginal changes to our numbers. Our recommendation will stay the same (Add).
16 Feb 2022
Sound results (as usual) and a rather vague outlook (as usual too!)
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Sound results (as usual) and a rather vague outlook (as usual too!)
- Published:
16 Feb 2022 -
Author:
Fabrice Farigoule -
Pages:
3
FY21 results are in line with both consensus and our numbers (even slightly higher).
By segment, the group’s top line was driven by all segments and geographies after a weaker FY20.
The trends in Q4 are very similar to what was witnessed in Q3.
The outlook is similar to what it has been “for years”, so no surprise on that front either.
Expect only marginal changes to our numbers. Our recommendation will stay the same (Add).