An expected move that nicely frees up capital for more productive uses. I’ve certainly appreciated Wulff’s bold approach in recent years with its capital releases and new business openings. Now, if only we could get some tailwind from the economic cycle!
If about 8 million euros from that sales sum ends up in accounting firm acquisitions at roughly 5x EBITDA, then that would already add 1.6 million euros in EBITDA. Of course, rents will take their share before the bottom line.