TKH Group Multiple Triggers, € 1bn Shareholder return by 2030
In this note we provide a deep dive on every segment. For the vision segment, high growth is expected and operational leverage will drive margin improvements. For manufacturing, multiple structural trends exists and its strong product offering of UNIXX is undervalued. The connectivity segment experiences robust demand from onshore energy, while there are some doubts on offshore energy. Nevertheless, offshore wind energy is growing and TKH is well positioned. We also observe multiple triggers across different time frames. A realistic and conservative approach results in a DCF based Valuation of € 55 per share, thus reiterating our Buy Rating.TKH Group creates and supplies Telecom, Building and Industrial Solutions. Telecom Solutions develops, produces and supplies systems ranging from outdoor infrastructure for telecom and CATV networks through to indoor home networking applications. Building Solutions develops, produces and supplies solutions in the field of electro-technology ranging from applications within buildings through to technical systems that - combined with software - provide solutions for the care and security sectors. Industrial Solutions develops, produces and supplies solutions ranging from specialty cable, "plug and play" cable systems through to integrated systems for the production of car and truck tires.
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.