Commissioned research: Paving the road to success
Ferronordic is a premium construction equipment dealer with a focus on the Russian market. With strong brands including Volvo CE, Ferronordic has historically realised strong top-line and EBIT growth, which we expect to continue. We estimate 2017-20 sales and EBIT CAGRs of 11.3% and 15.6%, respectively. In addition, the company has a solid net cash position, which we believe will be used to expand the business geographically and distribute a healthy dividend.
Marketing material commissioned by Ferronordic Machines
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