Pantelakis Securities- Jumbo (OW, TP €36.0/sh): Two lucky breaks burnish 2025 outlook
Jumbo (OW, TP €36.0/sh): Two lucky breaks burnish 2025 outlook
* FY adj. net income (ex-€10.8m insurance proceeds) grew 2% y-o-y to €309m (in line) amid supply chain disruptions in key Q4
* Management cautiously optimistic for FY25: we see net profit +9% y-o-y to €338m, not least due to sliding US$ & freight rates
* At current levels the market prices-in a L-T EBITDA margin plunge to 18.4% vs 36% in FY24, hardly justifiable, we reckon
Spiros Tsangalakis
Analyst
Pantelakis Securities SA
+30 210 6965 212
spiros.tsangalakis@pantelakis.gr
* FY adj. net income (ex-€10.8m insurance proceeds) grew 2% y-o-y to €309m (in line) amid supply chain disruptions in key Q4
* Management cautiously optimistic for FY25: we see net profit +9% y-o-y to €338m, not least due to sliding US$ & freight rates
* At current levels the market prices-in a L-T EBITDA margin plunge to 18.4% vs 36% in FY24, hardly justifiable, we reckon
Spiros Tsangalakis
Analyst
Pantelakis Securities SA
+30 210 6965 212
spiros.tsangalakis@pantelakis.gr