Report

Podravka Q1 21 - Another set of above expected results below EBITDA level

Podravka again exceeded our expectations on EBITDA and bottom line level, despite a top line miss
Low financial leverage and strong fundamentals remain an important pillar for potential M&A activities
The company proposed a FY21 DPS of HRK 9, i.e. at the same level as last year
We expect a positive market reaction on the published results
Underlying
Podravka d.d.

Provider
Raiffeisen Bank International AG - Institutional Equity
Raiffeisen Bank International AG - Institutional Equity

The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.

The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.

Analysts
Silvija Kranjec

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