Valamar Riviera Q3 21 - Outperforming our estimates on all P&L levels
Another strong set of operating results in Q3 21, higher than expected profitabilityNet debt declined to HRK 2.05 bn (-25.5% qoq)
Net debt/T12M EBITDA ratio declined to 2.8x (compared to 11.7x at the end of Q2 21)
We see the published results as a catalyst for a positive share price development
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.
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