Fodelia - Pioneer of the Food Industry

Here is the company report for Fodelia after Q2 from Pauli :slight_smile:

The Q2 report was weaker than expected in its headline figures and led to forecast cuts, particularly due to the growth in Feelia’s cost base. Revenue growth also fell short of expectations, which increases the risk regarding the guidance. However, we consider an improvement in growth likely in H2, and in our view, the stock’s earnings-based valuation is attractive relative to its long-term growth outlook and capital return profile. We lowered our rating to “accumulate” (previously “buy”) and the target price to 5.0 euros, following the forecast cuts and the increased guidance risk.

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