Cirsa : Powerful comeback that owes nothing to chance

Cirsa refinanced a large part of its 2023 bonds last month, removing a key concern, supported by a decade of high yield heritage that has seen the company navigates through several cycles admirably. After a chaotic situation in 2020, followed by a recovery in 2021, Cirsa is now on the verge of exceeding its pre-pandemic performance in 2022. Q3 results, to be released on 23 November, and Q4 results, are expected to be very strong, while Cirsa’s ‘neighborhood’ model and the counter...