contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


anora-expected-return-mainly-based-dividends

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Rauli Juva

Anora Group is a producer of alcoholic beverages. The product portfolio consists of wine and spirits marketed under various brands. The largest operations are found in the Nordics and the Baltics, and the company's products are exported to retailers in Europe and North America. The company was created through a merger of Altia and Arcus in 2021 and has its headquarters in Helsinki.

OP analyst gives Anora a target price of €4.8 and predicts a significant improvement in profitability thanks to cost-saving measures P/E 2026 8.4 and a 7.9% dividend yield

Rauli has published a new company report on Anora.  Anora’s guidance for last year seems to hold, and we expect cost savings to support earnings improvement this year. We slightly raised our forecasts in this report and the target price to EUR 3.8 (prev. 3.5e). The stock’s valuation has risen to a neutral level (e.g., 2026 P/E 10x), leading us to lower our recommendation to Reduce (prev. Add). Quote from the report: In our view, Anora has the potential to increase its volumes significantly within the framework of its current production facilities. Consequently, growth in the foreseeable future does not require significant investments in plants, and the company can use its free cash flow mainly for dividends and potential acquisitions. However, considering the negative market development expected by the company, we believe growth will be hard to achieve.                   Inderes              Anora: Tulosparannusta ennusteissa, arvostus neutraali - Inderes    Anoran ohjeistus viime vuodelle näyttää pitävän ja odotamme kulusäästöjen tukevan tulosparannusta tänä vuonna.

Anora’s portfolio probably isn’t optimal for the Indian palate. Additionally, entering that market is very difficult due to, among other things, heavy bureaucracy and taxation. I personally wouldn’t count on seeing Kossu in India, despite the free trade agreement.

The EU and India are aiming for a free trade agreement in the near future. India is the world’s fastest-growing alcohol market, and the agreement should be significant for European alcohol producers. I wonder if Indians drink aquavit? :⁠-⁠)

And so, by Koskenkorva ready-to-drink mixes, I mean the ready-made 15% alc cocktail mixes like Koskenkorva Mojito, Daiquiri, etc., sold in spirit bottles. The canned products are actually very good, and one could imagine them being successful.

However, those Koskenkorva ready-to-drink mixes are absolute rubbish. I expect they’ll quietly disappear from the market within a couple of years unless the recipes are improved. Otherwise, I am quite hopeful about Anora. A new Chairman, CEO, and strategy—something could really come of this now. If we could get a proper earnings disappointment and a downward dip now, it could be a good buying opportunity.

There is something in this tweet, and especially in its image, that might be of some interest in this thread as well. At least as far as these giants are concerned, there isn’t much demand for spirits. https://x.com/Schuldensuehner/status/2012993209937359051

Anora Group

Anora is the Nordic market leader in wines and spirits. Organic growth is modest due to a stable market, and we expect earnings growth in the next few years to come mainly from acquisitions ...

<p>Anora is the Nordic market leader in wines and spirits. Organic growth is modest due to a stable market, and we expect earnings growth in the next few years to come mainly from acquisitions and synergies, as well as the leveling off of raw material costs. In the absence of longer-term earnings growth, Anora's expected return is mainly based on dividend yield of about 6%. The valuation at the current levels seems relatively correct, which is why we do not see the share as attractive. </p> 

	2021	22e	23e
Revenue	665.0	709.8	727.3
growth-%	94.2 %	6.7 %	2.5 %
EBIT (adj.)	69.8	51.4	53.6
EBIT-% (adj.)	10.5 %	7.2 %	7.4 %
EPS (adj.)	1.04	0.49	0.48
Dividend	0.45	0.45	0.45
Dividend %	4.1 %	10.3 %	10.3 %
P/E (adj.)	10.4	8.9	9.1
EV/EBITDA	9.0	6.5	5.4

Anora: Expected return mainly based on dividends

Key Estimate Figures26.09.2022

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