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Large-scale restructuring, execution visibility limited

04/11/25 -"The revision of the target price reflects updates to our EPS forecasts, NAV and DCF valuations. In addition, we now expect the dividend to remain stable with respect to FY2025, rather than increase ..."

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Pages
52
Language
English
Published on
04/11/25
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EXECUTIVE SUMMARY

Updates Pension Risks
Target & Opinion Governance & Management
Business & Trends Graphics : Momentum
Money Making Graphics : MACD & Volumes
Debt Graphics : Sensitivities
Valuation Sector: Performance
DCF Sector: Key data
NAV/SOTP Sector: Ratios & Valorisation
Worth knowing Sector: Peers
Financials Sector: Analysis

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Advising of corporate (strategy, marketing, debt, etc) NO
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Provision of corporate access paid for by corporate NO
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