Kuyang'ana momwe makampani amakatoni mu 2023 akukula kuchokera pakukula kwa zimphona zonyamula malata ku Europe.

Kuyang'ana momwe makampani amakatoni mu 2023 akukula kuchokera pakukula kwa zimphona zonyamula malata ku Europe.
Chaka chino, zimphona zonyamula makatoni ku Europe zakhala ndi zopindulitsa zambiri pomwe zinthu zikuipiraipira, koma kupambana kwawoko kutha mpaka liti? Nthawi zambiri, 2022 idzakhala chaka chovuta kwa zimphona zonyamula makatoni. Chifukwa cha kukwera kwa mphamvu zamagetsi ndi ndalama zogwirira ntchito, makampani apamwamba a ku Ulaya, kuphatikizapo Smurf Cappa Group ndi Desma Group, akugwiranso ntchito mwakhama kuti athetse vuto la mitengo ya mapepala.Bokosi la pepala
Malinga ndi akatswiri a Jeffries, kuyambira 2020, monga gawo lofunikira pakuyika mapepala, mtengo wa makatoni okonzedwanso ku Europe wakwera pafupifupi kawiri. Kuphatikiza apo, mtengo wamabokosi achilengedwe opangidwa mwachindunji kuchokera kumitengo m'malo mwa makatoni osinthidwanso amatsata njira yofananira yachitukuko. Nthawi yomweyo, ogula ozindikira mtengo akuchepetsa ndalama zomwe amawononga pa intaneti, zomwe zimachepetsa kufunikira kwa makatoni. Chikwama cha pepala
Zaka zaulemerero zomwe zidabweretsedwa ndi COVID-19, monga kuyitanitsa kuthamanga mokwanira, katoni yolimba, komanso kukwera kwamitengo yazinthu zazikulu zonyamula, zonse zatha. Komabe, ngakhale zili choncho, magwiridwe antchito amakampaniwa ndi abwino kuposa kale. Smurfit Cappa posachedwa inanena kuti EBITDA yake idakwera ndi 43% kuyambira kumapeto kwa Januware mpaka Seputembala, pomwe ndalama zake zogwirira ntchito zidakweranso ndi gawo limodzi mwa magawo atatu. Izi zikutanthauza kuti ngakhale pakadali kotala la nthawi kumapeto kwa 2022, ndalama zake komanso phindu landalama mu 2022 zidapitilira mulingo usanachitike mliri wa COVID-19.
Pakadali pano, a Desma, chimphona chachikulu chonyamula malata ku UK, adakweza zolosera zake zapachaka kuyambira pa Epulo 30, 2023, ponena kuti phindu lomwe lasinthidwa mu theka loyamba la chaka liyenera kukhala mapaundi 400 miliyoni, poyerekeza ndi 351 miliyoni. mapaundi mu 2019. Mengdi, chimphona china chonyamula katundu, chawonjezera phindu lake ndi 3 peresenti mfundo ndi kuwirikiza kawiri phindu lake mu theka loyamba la chaka chino, ngakhale kuti akadali ndi bizinesi ya ku Russia mumkhalidwe wovuta kwambiri chifukwa cha mavuto omwe sanathetsedwe.Chipewa bokosi
Zosintha za Desma mu Okutobala zinali zochepa, koma idanenanso kuti "kuchulukira kwamabokosi ophatikizika ofanana ndikotsika pang'ono". Mofananamo, kukula kwamphamvu kwa Smurf Cappa sikuli chifukwa cha kugulitsa makatoni ambiri - malonda ake a makatoni a malata anakhalabe osasunthika m'miyezi isanu ndi inayi yoyambirira ya 2022, ndipo ngakhale adagwa ndi 3% m'gawo lachitatu. M’malo mwake, zimphona zimenezi zimawonjezera phindu lawo mwa kuwonjezera mtengo wa zinthu zawo.Bokosi la baseball cap
Kuphatikiza apo, zotulukapo sizikuwoneka kuti zapita patsogolo. Pamsonkano wa lipoti lazachuma mwezi uno, Tony Smurf, CEO wa Smurf Cappa, adati: "Kuchuluka kwa malonda mu gawo lachinayi ndi kofanana ndi zomwe tidawona mgawo lachitatu. Nthawi zambiri timayembekezera kuchira pa Khrisimasi. Inde, ndikuganiza kuti misika ina monga Britain ndi Germany yachita bwino kwambiri m’miyezi iwiri kapena itatu yapitayi.” Bokosi la Scarf
Izi zimabweretsa funso: Kodi chidzachitike ndi chiyani pamakampani opanga mabokosi mu 2023? Ngati msika ndi zofuna za ogula za malata ziyamba kukhazikika, kodi opanga malata angapitirize kukweza mitengo kuti apeze phindu lalikulu? Poganizira zovuta zazikulu komanso zofooka za katoni zotumizidwa ku United States, akatswiri amasangalala ndi kusintha kwa Smurf Cappa. Panthawi imodzimodziyo, Smurfikapa anagogomezera kuti "kuyerekeza pakati pa gulu ndi chaka chatha ndi kolimba kwambiri, ndipo timakhulupirira nthawi zonse kuti uwu ndi msinkhu wosakhazikika". Bokosi la mphatso za Khrisimasi
Komabe, osunga ndalama amakayikira kwambiri. Mtengo wagawo wa Smurf Cappa unali wotsika ndi 25% kuposa kuchuluka kwa mliriwu, ndipo mtengo wagawo wa Desma unatsika 31%. Ndani ali wolondola? Kupambana sikudalira kokha pa malonda a makatoni ndi makatoni. Ofufuza a Jeffries adaneneratu kuti chifukwa cha kufunikira kofooka kwa macro, mtengo wa makatoni obwezerezedwanso udzatsika, koma adatsindikanso kuti mtengo wa pepala lotayirira ndi mphamvu ukutsikanso, chifukwa zimatanthauzanso kuti mtengo wopangira ma CD ukutsika.
"M'malingaliro athu, zomwe nthawi zambiri zimamanyalanyazidwa ndikuti kutsika mtengo kumatha kukhala ndi zotsatirapo zazikulu pamapindu. Potsirizira pake, kwa opanga mabokosi a malata, phindu la kuchepetsa mtengo lidzawonekera pasanafike mtengo wa katoni wotsika, womwe umakhala wowonekera kwambiri pakutsika (kuchedwa kwa miyezi 3-6). Nthawi zambiri, kutsika mtengo kwamitengo kumachepetsedwa pang'ono ndi kukwera mtengo kwa zopeza." Akatswiri a Jeffries anatero. Bokosi la zovala
Panthawi imodzimodziyo, vuto lofunidwa palokha silolunjika kwathunthu. Ngakhale malonda a e-commerce ndi kuchepa kwachangu kwabweretsa chiwopsezo pamakampani onyamula malata, gawo lalikulu kwambiri la malonda amaguluwa nthawi zambiri limakhala m'mabizinesi ena. Ku Desma, pafupifupi 80% ya ndalama zomwe amapeza zimachokera kuzinthu zogulira zomwe zikuyenda mwachangu (FMCG), zomwe zimakhala zogulitsidwa m'masitolo akuluakulu. Pafupifupi 70% ya makatoni a Smurf Cappa amaperekedwa kwa makasitomala a FMCG. Ndi chitukuko cha msika wa terminal, izi ziyenera kukhala zosinthika. Desma wawona kukula kwabwino m'malo apulasitiki ndi magawo ena.
Chifukwa chake, ngakhale kusinthasintha kwakufunika, sikungagwere pansi pa mfundo inayake - makamaka poganizira za kubwerera kwa makasitomala akumafakitale omwe akhudzidwa kwambiri ndi mliri wa COVID-19. Izi zimathandizidwa ndi ntchito yaposachedwa ya MacFarlane (MACF), yomwe inanena kuti kuchira kwa makasitomala m'mafakitale oyendetsa ndege, uinjiniya ndi hotelo kumathetsa vuto la kuchepa kwapaintaneti, ndipo ndalama za kampaniyo zidakwera ndi 14% koyamba. miyezi isanu ndi umodzi ya 2022. bokosi loperekera chakudya cha ziweto
Opaka malata amagwiritsanso ntchito mliriwu kuti apititse patsogolo zolemba zawo. Tony Smoffey, CEO wa Smoffey Kappa, adatsindika kuti likulu la kampani yake "lidali labwino kwambiri m'mbiri yathu", ndipo phindu langongole / kubweza ndalama zambiri zinali zosakwana 1.4. Miles Roberts, Mtsogoleri wamkulu wa Desma, adagwirizana ndi izi mu September, ponena kuti chiŵerengero cha phindu la ngongole / chisanadze kubwezeredwa kwa gululi chatsika mpaka nthawi za 1.6, "chimodzi mwazochepa kwambiri zaka zambiri".bokosi lotumizira
Zonsezi zikutanthauza kuti akatswiri ena amakhulupirira kuti msika wachita mopambanitsa, makamaka pankhani ya FTSE 100 index packers, omwe mitengo yawo idatsika mpaka 20% kuchokera ku phindu lomwe limayembekezeredwa. Kuwerengera kwawo ndi kokongola ndithu. Kutsogolo P/E chiŵerengero cha Desma ndi 8.7 okha, pamene pafupifupi zaka zisanu ndi 11.1, pamene P/E chiŵerengero cha Smurfikapa ndi 10.4, ndipo pafupifupi zaka zisanu ndi 12.3. Pamlingo waukulu, zimatengera ngati kampaniyo ingakhutiritse osunga ndalama kuti apitilize kuchita modabwitsa mu 2023.bokosi lotumizira maimelo