Evonik Industries AG : CEO-RS feedback: "Good Q2" confirmed, new pharma lipid (mRNA) plant in the US proves technology strength, DSM/Firmenich combination no threat
>CEO roadshow confirms our positive view on expanding resilient growth profile at attractive valuation, including top-quartile 4.7% div yield - We hosted a corporate roadshow with Evonik CEO Christian Kullman. It confirmed our positive view on the name, with: a) a resilient EBITDA/FCF growth model (EBITDA CAGR 21-24: 7%), b) an ongoing full exit from volatile, margin-dilutive (-1.6pp in 2022e) upstream activities, and c) an attractive valuation, at 6.9x EV/EBITDA 22 a...Steag, through its subsidiaries, is engaged mainly in power generation and related industries. Co.'s business is divided into five units: Power generation, Decentralized Energy Supply, Foreign Power Plants, Gas Distribution, and Coal Trading.
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.
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