BKT posted a strong set of results, enabling management to upgrade its full-year guidance for 2022. We see limited risks for 2023 even if the macro-economics have deteriorated. It remains to be seen if the Spanish government will draw its windfall profit tax. However, it is already priced in the share price.
21 Jul 2022
Upgraded guidance
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Upgraded guidance
- Published:
21 Jul 2022 -
Author:
David Grinsztajn -
Pages:
3
BKT posted a strong set of results, enabling management to upgrade its full-year guidance for 2022. We see limited risks for 2023 even if the macro-economics have deteriorated. It remains to be seen if the Spanish government will draw its windfall profit tax. However, it is already priced in the share price.