Tichitarisa mafambiro ari kuita indasitiri yemakatoni muna 2023 kubva pakuvandudzwa kwemakatoni makuru ekuEurope anogadzira machira.
Gore rino, makambani makuru ekugadzira makatoni muEurope akaramba aine purofiti yakakura pasi pemamiriro ezvinhu ari kuipa, asi kukunda kwavo kunogona kuramba kwenguva yakareba sei? Kazhinji, gore ra2022 richava gore rakaoma kune makambani makuru ekugadzira makatoni. Nekukwira kwemitengo yemagetsi uye mitengo yevashandi, makambani makuru eEurope, anosanganisira Smurf Cappa Group neDesma Group, ari kushandawo nesimba kugadzirisa dambudziko remitengo yemapepa.Bhokisi repepa
Sekureva kwevaongorori vaJeffries, kubvira muna 2020, sechikamu chakakosha chekugadzira mapepa ekurongedza, mutengo wemakadhibhodhi akadzokororwa muEurope wawedzera kaviri. Pamusoro pezvo, mutengo webhokisi rebhokisi remuno rakagadzirwa zvakananga kubva pamatanda pane makatoni akadzokororwa unotevera nzira yakafanana yekuvandudza. Panguva imwe chete, vatengi vane hanya nemutengo vari kuderedza mari yavanoshandisa paindaneti, izvo zvinoderedza kudiwa kwemakatoni. Bhegi repepa
Makore akanaka akaunzwa neCOVID-19, akadai semaodha ari kushanda zvizere, kuwanikwa kwemakatoni mashoma, uye mitengo yemasheya emakambani makuru ekurongedza, zvese zvapera. Zvisinei, kunyangwe zvakadaro, mashandiro emakambani aya ari nani kupfuura kare. Smurfit Cappa ichangobva kuzivisa kuti EBITDA yayo yakawedzera ne43% kubva pakupera kwaNdira kusvika Gunyana, nepo mari yayo yekushanda yakawedzerawo nechikamu chimwe muzvitatu. Izvi zvinoreva kuti kunyangwe pachine chikamu chimwe muzvina chenguva gore ra2022 risati rapera, mari yayo nemari inowanikwa muna 2022 zvapfuura mwero weCOVID-19 isati yatanga.
Zvichakadaro, Desma, kambani yepamusoro yemapakeji esimbi muUK, yakawedzera fungidziro yayo yegore negore kubva musi wa30 Kubvumbi 2023, ichiti purofiti yekushanda yakagadziriswa muhafu yekutanga yegore inofanira kunge iri pamamiriyoni mazana mana emapaunzi, zvichienzaniswa nemamiriyoni mazana matatu nemakumi mashanu nerimwe emapaunzi muna 2019. Mengdi, imwe kambani huru yemapakeji, yakawedzera purofiti yayo nezvikamu zvitatu kubva muzana uye yakawedzera zvakapetwa kaviri purofiti yayo muhafu yekutanga yegore rino, kunyangwe ichiri kuita kuti bhizinesi reRussia rive mumamiriro ezvinhu akaoma nekuda kwematambudziko asina kugadziriswa.Bhokisi rengowani
Ruzivo rwekuvandudzwa kwekutengeserana kwaDesma muna Gumiguru rwaive rushoma, asi rwakataura kuti "kuchinja kwemabhokisi akafanana emarata kwakaderera zvishoma". Saizvozvowo, kukura kwakasimba kweSmurf Cappa hakusi iko kunokonzerwa nekutengesa makatoni akawanda - kutengeswa kwayo kwemakatoni emarata kwakaramba kwakadzikama mumwedzi mipfumbamwe yekutanga ya2022, uye kwakatodzikira ne3% mukota yechitatu. Kusiyana neizvi, hofori idzi dzinowedzera purofiti yadzo nekuwedzera mutengo wezvigadzirwa zvadzo.Bhokisi rekepisi rebaseball
Pamusoro pezvo, kuchinjana kwemari hakuratidzike sekwakavandudzika. Pamusangano wezvemari mwedzi uno, Tony Smurf, CEO weSmurf Cappa, akati: "Huwandu hwekutengeserana mukota yechina hwakafanana zvikuru nezvatakaona mukota yechitatu. Tinowanzo tarisira kupora paKisimusi. Ehe, ndinofunga kuti mimwe misika yakaita seBritain neGermany yakashanda zvisina kunaka mumwedzi miviri kana mitatu yapfuura."
Izvi zvinounza mubvunzo wekuti: Chii chichaitika kuindasitiri yemabhokisi emarata muna 2023? Kana musika nevatengi vachida mabhokisi emarata zvikatanga kugadzikana, vagadziri vemabhokisi emarata vanogona kuramba vachikwidza mitengo kuti vawane purofiti yakakwira here? Tichifunga nezvemamiriro ezvinhu akaoma uye kusasimba kwekutumira makatoni kwakataurwa muUnited States, vaongorori vanofara nekuvandudzwa kweSmurf Cappa. Panguva imwe chete, Smurfikapa yakasimbisa kuti "kuenzanisa pakati peboka negore rapfuura kwakasimba zvikuru, uye tinogara tichitenda kuti iyi inhanho isingachinjiki". Bhokisi rezvipo reKisimusi
Zvisinei, vanoisa mari vanonetseka zvikuru. Mutengo wemugove waSmurf Cappa wakaderera ne25% pane wepamusoro pedenda, uye mutengo wemugove waDesma wakaderera ne31%. Ndiani ane chokwadi? Kubudirira hakungobvi pakutengeswa kwemakadhibhokisi nemakadhibhodhi chete. Vaongorori vaJeffries vakafanotaura kuti nekuda kwekushaikwa kwezvinodiwa zvemacro, mutengo wemakadhibhodhi akadzokororwa uchaderera, asi vakasimbisawo kuti mutengo wepepa rakarasika nesimba uri kudzikirawo, nekuti zvinorevawo kuti mutengo wekugadzira mapakiti uri kudzikira.
"Semaonero edu, chinowanzo furatirwa ndechekuti mitengo yakaderera inogona kuva nemigumisiro yakakura pamari inowanikwa. Chekupedzisira, kune vagadziri vemabhokisi esimbi, mabhenefiti ekudzikisa mitengo achaonekwa pamberi pemutengo wekatoni wakaderera, uyo unenge wakanyanya kusimba mukudzikira (mwedzi 3-6). Kazhinji, mari inowanikwa kubva mumitengo yakaderera inoderedzwa zvishoma nemutengo wakaderera wemari inowanikwa." Vaongorori veJeffries vakadaro. Bhokisi rezvipfeko
Panguva imwe chete, dambudziko rekudiwa kwechinhu pachacho harisi nyore zvachose. Kunyangwe kutengeserana kwepamhepo nekuderera kwemitengo kwave kukanganisa mashandiro emakambani ekugadzira mapurasitiki, chikamu chikuru chekutengesa kwemapoka aya chinowanzo kuve mune mamwe mabhizinesi. MuDesma, mari inosvika 80% inobva muzvinhu zvinotengeswa nekukurumidza (FMCG), izvo zvinonyanya kutengeswa muzvitoro zvikuru. Inenge 70% yemabhokisi eSmurf Cappa anopihwa kune vatengi veFMCG. Nekukura kwemusika wemagetsi, izvi zvinofanira kuratidza kuti zvinochinjika. Desma yaona kukura kwakanaka kwepurasitiki nezvimwe zvinhu.
Saka, pasinei nekuchinja-chinja kwezvinodiwa, hazvingakwanisike kuderera pasi peimwe nzvimbo - kunyanya tichifunga nezvekudzoka kwevatengi vemaindasitiri vakabatwa zvakanyanya nedenda reCOVID-19. Izvi zvinotsigirwa nekushanda kwazvino kweMacFarlane (MACF), iyo yakaratidza kuti kudzoserwa kwevatengi mumaindasitiri endege, mainjiniya nemahotera kunoderedza kukanganisa kwekuderera kwekutenga online, uye mari yekambani yakawedzera ne14% mumwedzi mitanhatu yekutanga ya2022.
Vatengesi vemakonye vanoshandisawo denda iri kuvandudza mabhajeti avo. Tony Smoffey, CEO weSmoffey Kappa, akasimbisa kuti hurongwa hwemari yekambani yake hwaive "hwakanaka kwazvo munhoroondo yedu", uye purofiti yechikwereti/pre amortization yaive pasi pe1.4 ka1.4. Miles Roberts, CEO weDesma, akabvumirana neizvi munaGunyana, achiti chiyero chepurofiti yechikwereti/pre amortization cheboka chaderera kusvika ka1.6 ka1, "inova imwe yezvikamu zvakaderera mumakore mazhinji".bhokisi rekutumira
Zvese izvi pamwe chete zvinoreva kuti vamwe vaongorori vanotenda kuti musika wanyanya kupindura, kunyanya panyaya yevanotengesa FTSE 100 index packers, avo vane mitengo yakaderera kusvika 20% kubva papurofiti inotarisirwa isati yabhadharwa. Kukoshesa kwavo kunokwezva zvechokwadi. Chiyero cheP/E cheDesma chepamberi chiri 8.7 chete, nepo avhareji yemakore mashanu iri 11.1, nepo chiyero cheP/E chepamberi cheSmurfikapa chiri 10.4, uye avhareji yemakore mashanu iri 12.3. Zvikuru, zvinoenderana nekuti kambani inogona here kunyengetedza vanoisa mari kuti vanogona kuramba vachiita zvinoshamisa muna 2023.bhokisi rekutumira tsamba
Nguva yekutumira: Zvita-27-2022