Duni: Let’s turn the table to 2026 - SEB
14 juli, 09:45
Duni delivered a soft Q2, with -4% organic growth y/y driven by lower volumes and negative mix. While volumes are well below pre-pandemic levels, so is the European consumer climate. We see limited progress until Germany lowers VAT on restaurant food in 2026 and thus suspect that volumes could be depressed in the coming quarters too. After the Q2 report, we update our DCF-derived fair value range to SEK 129-174 (144-189).
SEB Research
This research has been commissioned by the company. Only for professional investors resident in EEA member states. Reports may not be distributed to the US or other jurisdictions where to do so would be unlawful. Please see the disclaimer tab for any details of investment banking services recently provided by SEB that could be considered relevant to the subject matter of this research.
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Duni: Let’s turn the table to 2026 - SEB
14 juli, 09:45
Duni delivered a soft Q2, with -4% organic growth y/y driven by lower volumes and negative mix. While volumes are well below pre-pandemic levels, so is the European consumer climate. We see limited progress until Germany lowers VAT on restaurant food in 2026 and thus suspect that volumes could be depressed in the coming quarters too. After the Q2 report, we update our DCF-derived fair value range to SEK 129-174 (144-189).
SEB Research
This research has been commissioned by the company. Only for professional investors resident in EEA member states. Reports may not be distributed to the US or other jurisdictions where to do so would be unlawful. Please see the disclaimer tab for any details of investment banking services recently provided by SEB that could be considered relevant to the subject matter of this research.
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Rapportperioden
Plejd
Inflationen
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Rapportperioden
Plejd
Inflationen
Marknadsöversikt
1 DAG %
Senast
1 mån
Privatekonomi med Placeras expert
Affärsvärlden
