Sligro rises as 2021 sales slightly miss estimates amid tougher curbs

Sligro Food

05/01/2022 12:12

(Adds analyst comment, consensus, updates share move)
    ** Shares of Netherlands-based Sligro Food Group  SLIGR.AS 
rise 2.4% after it reported FY sales only slightly below market
expectations despite facing stricter lockdowns than a year
earlier
    ** FY revenue fell 2.5% yoy to 1.90 billion euros ($2.15
billion) vs. analysts' median estimate of 1.93 billion in a
company-compiled consensus
    ** Quarterly revenue was 554 million euros, up 21.5% yoy but
5.6% below consensus  urn:newsml:reuters.com:*:nFWN2TK0YO
    ** "They did a lot better than I was expecting," says ING
analyst Hans D'Haese, who had forecast FY sales of 1.72 billion
euros
    ** He notes that "in the Netherlands restaurants and pubs
were only open without any restrictions for 20 weeks in 2021,
which compares to 28 weeks without restrictions in 2020"
    ** As lockdowns for the Dutch hospitality sector continue,
the market should cut expectations for the current quarter which
is "probably set for a for a YoY flat topline," D'Haese adds
    ** Sligro shares outperform the Amsterdam blue-chip index
 .AEX , which falls around 0.1%
    ** Out of five analysts that cover Sligro Food Group, two
rate the stock "strong buy/buy", while three rate it "hold" 

($1 = 0.8833 euros)

 (Reporting by Olivier Sorgho)
 ((olivier.sorgho@tr.com))