Atria raised its guidance on 12 July. The company now expects its adjusted EBIT to improve from 2023 (previously: to decline). The profitability development has been good in all business areas, while we note more positive outlook comments, which indicate a positive ramp-up of the new poultry unit. We were expecting a guidance raise, but we view the outlook comments as positive for H2 performance. We raise our 2024 adjusted EBIT estimate by 5% and nudge up our DCF- and multiples-based fair value range to 12.9-15.7 (12.1-14.7). Marketing material commissioned by Atria.
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