FIELMANN - BUY | EUR74 Good Q1 results but FY22 sales outlook tinted with a touch of cautiousness FY21 results: PBT miss on an aggressive CS estimate but fairly in line with FIE’s guidance Q1 2022 results: off to a good start FY22 sales outlook a bit more prudent given a challenging environment in Central & Eastern Europe
FIELMANN - BUY | EUR76(+25%) Good surprises planned for next year? Q3: customers are back to physical stores International becoming an increasingly key contributor to sales growth FY21 sales outlook reiterated, hence minor forecast adjustments… … but significant upside potential on FY22 estimates as FIE guides on DD sales growth!
FIELMANN - BUY | EUR76(+24%) Reassuring Q3 numbers, FY21 targets confirmed and upbeat FY22 sales outlook Q3 sales of EUR460.8m fairly in line with CS forecasts Q3 PBT topped CS expectations by 5% FY21 targets maintained… … and upbeat FY22 sales outlook!
FIELMANN - BUY | EUR76(+20%) Cautious margin guidance harbours upside potential Encouraging Q2 trends… … leading to an optimistic FY sales outlook… … but FY PBT guidance is quite conservative! Possible reasons to explain why FIE is overly-cautious Buy rating and TP of EUR76 reiterated
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
FIELMANN - BUY | EUR76 VS. EUR78 (+19%) Some air pockets but still a relatively safe choice in volatile conditions Lingering Covid impact on Q1 numbers Top line trends are relatively resilient vs. peers 2021 outlook: FIE considers two scenarios for overcoming Covid crisis FIE enters the Czech eyewear market this summer Buy rating reiterated, FV nudged down to EUR76
FIELMANN - BUY | EUR78(+14%) FY20 numbers beat own guidance and CS expectations Strong year-end sales with 8.5% growth in Q4 Main factors driving outperformance The Spanish acquisition will only contribute this year Upbeat investment case confirmed - Buy rating and FV of EUR78 maintained
FIELMANN | BUY | EUR78 VS. EUR74 Bienvenido a España! New market with the acquisition of Optica & Audiologia A big acquisition that comes earlier than expected No.3 optical retailer in a dynamic and fragmented market A major step in FIE’s internationalisation strategy Investment case and Buy recommendation reiterated
SECTOR | OPTICAL & EYEWEAR | Digital wave gaining momentum! In our sector report of June 2019, we discussed how the customer journey in eyewear had become increasingly digitalised, as groups in our sample implemented their digital transformation and new digital brands set up shop such as Warby Parker, Jimmy Fairly and Mister Spex. This digital wave has clearly gained momentum over the course of the Covid-19 pandemic, forcing all players to step up their investments.
SECTOR | OPTICAL & EYEWEAR | La vague digitale prend de l’ampleur ! Dans notre étude sectorielle de juin 2019, nous soulignions que le parcours d’achat s’était fortement digitalisé sous l’impulsion des groupes de notre échantillon qui mènent leur transformation digitale et des nouvelles marques digitales telles que Warby Parker, Jimmy Fairly et Mister Spex. Cette vague digitale a clairement pris de l’ampleur avec la Covid-19, obligeant tous les acteurs à accélérer leurs investissement Initiati...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.