CECONOMY | BUY | EUR7 VS. EUR6 Clear margin trajectory ahead with the necessary execution capacities to achieve it
CECONOMY | BUY | EUR7 VS. EUR6Clear margin trajectory ahead with the necessary execution capacities to achieve it
Towards a 2.6% EBIT margin in 2023 mostly driven by offer reshuffle…
…with still room to exceed the 3% threshold by 2025
Towards 45% FCF generation
A clearer structure and governance
Buy reiterated with a new TP of EUR7
Metro is a holding company. Through its subsidiaries, Co. is engaged in retail and wholesale. Co.'s operations are divided into four divisions: Metro Cash & Carry, Real, Media-Saturn and Galeria Kaufhof. The Metro Cash & Carry division operates in the cash and carry sector in Europe, Asia and Africa. The Real division is a hypermarket operator in Germany where it operates both stationary stores and an online store. The Media-Saturn division provides an assortment of brand products in consumer electronics retailing. The Galeria Kaufhof division operates department stores in Germany and Belgium. Co. is also a property manager through METRO PROPERTIES GmbH & Co. KG.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.