Sligro: Long term value but short term risks
Following the 4Q reporting we updated our model to reflect the slightly lower numbers. We also took a more in-depth look at the recovery process. As a matter of fact, we now expect Sligro to reach pre-COVID19 sales levels in 4Q21. In our scenario, we also bank on FY22 sales to exceed the pre-COVID19 level of FY19. Using a combination of methods and scenarios we calculate a fair value of € 20.0, our new TP. Given the absence of upside after a 65% rebound from its recent low, we maintain our Hold recommendation.Sligro Food Group NV is a company engaged in the food distribution industry, based in the Netherlands. It divides its business into two segments: Food Retail activities comprise around 130 full-service EMTE supermarkets with 30 operated by independent retailers; Food Service offers nationwide network of cash and carry and delivery service outlets serving large and small-scale hospitality, establishments, leisure facilities, volume users, company and other caterers, forecourt retailers, small and medium-sized enterprises, smaller retail businesses and the institutional market. The Company serves the institutional market trading under the name Van Hoeckel and the other segments of the market as Sligro. The Company's subsidiaries include CaterTechBV and Bejaco NV, including its subsidiaries JAVA BVBA and Freshtrans BVBA, jointly known as JAVA Foodservice.
We are a financial services provider for several types of professional clients, each with distinct needs.
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.