Anora: Q3 results and new targets in line with expectations
Anora's Q3 results were close to expectations and the company reiterated its guidance. Our estimates are at the top end of the company’s guidance range. The company also announced new financial targets and strategy, which will be further discussed at next week's Capital Markets Day. We slightly raised our 2023 estimates - otherwise the revisions remained small. You can read more about our views on the company in our recent extensive report.
Anora Group is a producer of alcoholic beverages. The product portfolio consists of wine and spirits marketed under various brands. The largest operations are found in the Nordics and the Baltics, and the company's products are exported to retailers in Europe and North America. The company was created through a merger of Altia and Arcus in 2021 and has its headquarters in Helsinki.
Read more on company pageKey Estimate Figures2022-11-23
| 2021 | 22e | 23e | |
|---|---|---|---|
| Revenue | 665.0 | 712.1 | 728.7 |
| growth-% | 94.2 % | 7.1 % | 2.3 % |
| EBIT (adj.) | 69.8 | 50.7 | 55.5 |
| EBIT-% (adj.) | 10.5 % | 7.1 % | 7.6 % |
| EPS (adj.) | 1.04 | 0.50 | 0.50 |
| Dividend | 0.45 | 0.35 | 0.35 |
| Dividend % | 4.1 % | 9.6 % | 9.6 % |
| P/E (adj.) | 10.4 | 7.3 | 7.2 |
| EV/EBITDA | 9.0 | 6.5 | 4.8 |
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