Ongoing European Expansion to Drive Strong Earnings Growth for Breville
Shares in narrow-moat rated Breville are now only 15% overvalued relative to our unchanged AUD 10.00 per share fair value estimate, after having fallen over 20% during the past three months. Our fair value estimate implies a forward P/E of around 20 times, which we believe is reasonable given Breville’s strong earnings growth outlook. Our earnings estimates are unchanged, and we continue to project EPS growth of 12% per year on average during the next five years. Our estimates incorporate around...Breville Group is engaged in the design, development, marketing and distribution of small electrical appliances. In Australia and New Zealand, Co. principally trades under its owned brands, Breville and Kambrook and also distributes a range of Philips products in the personal care and garment care categories under a license agreement with Philips. In North America, Co. distributes Breville branded products through several channels. In the U.K., the marketing and distribution of Co.'s designed products to retailers is under its owned brand, Sage.
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