ALSO Holding still with top results: +105% in 5 years
In the stock exchange blog “Money”, the expert François Bloch portrays a dazzling or a lurching share every day. Today: Also Holding.
Market Sentiment: SMI about the mark of 11,444 points (current: 12,408) – Wall Street: US securities markets: -1.69% — Interest rates stay low in the US only until mid-2022– Gold above the mark of $1,600 an ounce (Current: $1,952 US-Dollar)! Oil, swings up (92.19 US-Dollar) – The papers of Glencore (stock symbol: GLEN LN) start again, but only with covered calls!
ALSO Holding still with top results: +105% in 5 years (stop buying)
Fundamental valuation discount: -28.7%
investment proposal: Just stick with things Also Holding (Stock symbol: ALSN SW), although the paper is under pressure. The background is the more than sensational annual result for 2022, which was recently presented. For 2022, the Also Group expects an increase in sales above the forecast market growth of +13%. Meanwhile, the IT distributor’s consolidated profit is expected to increase faster than sales. The management is increasing the medium-term goals: According to my models, sales should exceed the mark of for the first time in 2024 14 billion euros reach. In 2017, this key figure was still 8.9 billion euros. The share of the Solutions division should be around 35%, that of Services around 15%. Accordingly, Also would like to focus on future acquisitions in these areas. In 2017, Solutions accounted for 18.0% and Services for 3.7%. Specifically, the dividend will also be increased and there is no reason to question the company’s long-term policy. At 1.86%, the dividend yield is more than okay and I assume that this figure will increase again by 2024 and could rise to around 2%. Especially the long-term performance over five years is a sensation: +105% versus +60.1% with the SMI index, during the same period. So far, the calculation has worked out perfectly for you at CHF 2.93 billion.
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