Royal Unibrew A/S

Royal Unibrew is a holding company based in Denmark. Co. is engaged in the production, marketing, sale and distribution of beverages. Co.'s main focus is on branded products, such as beer, malt, and soft drinks, including carbonated soft drinks, mineral water and fruit juices. Co.'s portfolio comprises both its own international brands, such as Royal, Ceres, Faxe, and national brands, such as Lomza in Poland, Lacplesa Alus in Latvia. Co. also offers license-based brands, such Heineken and the Pepsi Group's products, which are distributed in Denmark on the basis of license agreements. Co. is primarily active in Western and Eastern Europe and in the international malt drinks markets. .
  • TickerRBREW
  • ISINDK0060634707
  • ExchangeNasdaq Nordic Copenhagen
  • SectorBeverages
  • CountryDenmark
Nikolaas Faes

ROYAL UNIBREW BUY - TOP PICKS | DKK570 Top brewer

ROYAL UNIBREW BUY - TOP PICKS | DKK570 Top brewer EBIT margin increased in Q2 Best among peers EBIT is now expected to be flat for the full year Building momentum: revenue increased by 7% in June/July Net debt/EBITDA of 1.2x

Jesper Ingildsen

Royal Unibrew (Buy, TP: DKK700.00) - Premium valuation for a reason

Royal Unibrew last night reported its Q2 results ahead of time (were due on 24 August) and lifted its 2020 guidance on stronger than expected performance driven by better weather and staycations. The mid-point of the new 2020 EBIT guidance is impressively above 2019 despite the pandemic and c12% above consensus. Furthermore, it reinstated its dividend. We reiterate our BUY and have raised our target price to DKK700 (630).

Alexander Aukner ...
  • Jesper Ingildsen
  • Jørgen Lian
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Market internals sending mixed signals • Mixed market internals; Expect continued volatility and consolidation. Though support levels on the MSCI ACWI and S&P 500 have held - namely the 200-day moving averages and the lows from 2/9/18 - various market internals have begun to show neutral or negative signals... see below and page 2. • Europe at support; Hong Kong and Norway outperforming. The STOXX Europe 600 Index has managed to stay just at or above the important 365 support level that we have highlighted in previous reports. With Hong Kong and Norway continuing to outperform, we reiter...

Nikolaas Faes

ROYAL UNIBREW BUY - TOP PICKS | DKK570 Top brewer

ROYAL UNIBREW BUY - TOP PICKS | DKK570 Top brewer EBIT margin increased in Q2 Best among peers EBIT is now expected to be flat for the full year Building momentum: revenue increased by 7% in June/July Net debt/EBITDA of 1.2x

Jesper Ingildsen

Royal Unibrew (Buy, TP: DKK700.00) - Premium valuation for a reason

Royal Unibrew last night reported its Q2 results ahead of time (were due on 24 August) and lifted its 2020 guidance on stronger than expected performance driven by better weather and staycations. The mid-point of the new 2020 EBIT guidance is impressively above 2019 despite the pandemic and c12% above consensus. Furthermore, it reinstated its dividend. We reiterate our BUY and have raised our target price to DKK700 (630).

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

EM Equities At New Highs Despite Some Caution Signs We continue to believe the path of least resistance is higher for global equities. As a result, our outlook remains bullish and we suggest buying any dips. · Global Equities Remain Bullish. A weaker US dollar (DXY) has paved the way for new highs in a number of non-US global indexes, including for emerging markets (EEM-US) and developed international (VEA-US). As we like to say, new highs are not a sell signal. We believe that as long as the DXY is below 96, it will be bullish for global risk sentiment and we believe EM/non-US outp...

Nikolaas Faes

SECTOR UPDATE | Beverages | Back to basics

In this research we examine the brewer’s return on invested capital. In the first place, ROIC is an indication of how well past management has allocated capital to profitable investments. AB InBev’s decline in ROIC to 6.4% in 2019, demonstrates the destruction of value that has occurred owing to the 2016 SABMiller acquisition. Also Carlsberg’s previous management destroyed value with its Scottish & Newcastle and Baltika acquisitions leading to a ROIC hovering around 6% in the period until 2016, when new management came in and improved the ratio to 9.4%. Royal Unibrew’s 18.9% ROIC revea...

Nikolaas Faes

Beverages: Royal Unibrew Q3 brewers stock pick

Beverages Royal Unibrew Q3 brewers stock pick There will be big differences in messaging following a bad Q2 Changes in input variables for our FV calculation Carlsberg and Royal Unibrew will be able to take the M&A opportunities Royal Unibrew’s background

Alexander Aukner ...
  • Jesper Ingildsen
  • Jørgen Lian
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Helene Kvilhaug Brøndbo ...
  • Jesper Ingildsen
  • Joachim Gunell
  • Jon Masdal
  • Jørgen Lian
  • Karl-Johan Bonnevier
  • Martin Huseby Karlsen
  • Mats Bye
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Paul Harper
  • Rune Majlund Dahl
  • Simen Mortensen
  • Tomi Railo
  • Viktor Trollsten

Northern Lights

Alexander Aukner ...
  • Christoffer Wang Bjørnsen
  • Jesper Ingildsen
  • Jimi Lehtonen
  • Joachim Gunell
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Tomi Railo

Northern Lights

Jesper Ingildsen ...
  • Jon Masdal
  • Martin Hoang Nguyen
  • Niclas Gehin
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Simen Mortensen

Northern Lights

Jesper Ingildsen ...
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

An unfavourable environment weighs on ROYAL UNIBREW A/S, which sees a downgrade to Slightly Negative

The independent financial analyst theScreener just requalified the general evaluation of ROYAL UNIBREW A/S (DK), active in the Brewers industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date April 10, 2020, the closing price was DKK 474.00 and its target price was estimated at DKK 406.00.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

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