reports
- Adrian Kowollik
- Adrian Kowollik
Raiffeisen Research Institutional Equity Daily 18.11.2022
AT: Energy - Austrian government to present windfall profit tax proposal today (negative) AT: Flughafen Wien - Optimistic wording in yesterday's results conference call (positive) AT: Flughafen Wien - Security staff to demand higher wages (neutral) HR: Windfall profit taxes - Introduction of the proposal of a windfall tax (negative) PL: Answear.com - Q3 22 EBITDA grew by 70% yoy and topped consenus by 7% (positive) SI: NLB Group - Postponing of the planned Tier 2 issuance (negative)
Answear initiated at BUY, PLN 25.0 - A CEE online fashion specialist w...
We initiate coverage of Answear, an e-commerce multibrand fashion retailer active in eleven countries, with a 12-m TP of PLN 25.0 and BUY recommendation. The company operates a streamlined business model targeting relatively well off and fashion-conscious CEE customers focussing its efforts on premium brands and on its margin-accretive own brand. While FY 22e profitability should not impress we project a rebound of the EBITDA margin from 4.9% in FY22e to 6.0% in FY 24e, a beat of the incentive ...
- Adrian Kowollik
- Adrian Kowollik
Answear - 100% Digital
Global e-Commerce growth gathered greater momentum in 2020 with brick-and-mortar stores put on lockdown as a way to help contain the coronavirus pandemic. Propelled by tailwinds, Answear.com S.A. (“Answear,” the “Company”) is committed to building its presence in the CEE region as as a multi-brand e-Commerce platform. Between 2014 and 2019, Answer increased its sales ten-fold to PLN 311 million (58.6% CAGR), and in the next three years revenue is expected to double. Answear is able to maintain i...
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