• (PLX AI) – Olvi has the balance sheet strength necessary to withstand the 25% hit to its EBIT as it withdraws from Belarus, analysts said.
  • • Olvi said over the weekend it would withdraw from Belarus and stop all exports to Belarus and Russia due to the invasion of Ukraine
  • • Olvi also canceled its 2021 outlook
  • • Olvi sits on hefty net cash positions, so the equity case impacts are mainly limited to the share of Belarussian business, SEB said
  • • SEB currently has a price target of EUR 55 on Olvi, which would go down to EUR 41 with a direct 25% cut
  • • Nordea has already excluded Belarus from estimates as of end of 2022 and cut its price target for Olvi to EUR 39.40 from EUR 56, but maintained a buy rating
  • • Nordea assumes Belarus volumes will be down 30% this year, with a similar cut to EPS and dividends
  • • Olvi shares may trade down 15% today, analysts at Carnegie said

Quelle: PLX AI