Report
Cherry AG : A good entry point after a tough 2022; back to Outperform
>Confident about improved 2023 outlook - Based on the prelim results, we estimate that Q4 2022 was the quarter with the weakest gross margins (<25%). This resulted to a lower-than-expected adjusted EBITDA margin (9.2%) for the quarter and hence the miss regarding FY 2022 company guidance by 40 bps (low end of the range). The company blames this on higher input prices, which might be true against a backdrop in rising costs across the board. With most of the bad news an...
Underlying
CHERRY AG
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Julian Dobrovolschi
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