Best Idea CK Hutchison's Wind Tre Proforma Sees Lower Margins; Fair Value Estimate Unchanged
CK Hutchison’s pro forma Wind Tre results indicate EBIT margins that are below our expectation. We’re not that concerned because we anticipate operating efficiencies to flow through in the coming two years, and a reduction in our near-term EBIT assumption by three percentage points for Wind Tre would only impact our CK Hutchison fair value estimate marginally by less than HKD 1.00.ÂWith the company’s full-year results to be released on March 22, we leave our fair value estimate unchanged at HKD...
CK Hutchison Holdings is an investment holding group based in Hong Kong. Co.'s businesses encompass such diverse areas as property development and investment, real estate agency and estate management, hotels, telecommunications and e-commerce, finance and investments, retail, ports and related services, energy, infrastructure projects and materials, media, and biotechnology. Co.'s core business are organized along four segments: Property (sales, leasing, property management and development); Hutchison Whampoa (ports, property and hotel, retail, infrastructure, energy and telecommunications); Life Sciences (health and agriculture related products) and Other Investments.
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