contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment CompanyTagList on Company {
  pageUrl
  name
  viewerIsFollowing
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    ...CompanyTagList
    id
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls {
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      defaultInstrument {
        isin
        id
      }
      id
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    id
    name
    viewerIsFollowing
    defaultInstrument {
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


interest-rate-on-new-hkfoods-bond-higher-than-expected

__typename

title

isPremium

lang

htmlBody

companies

createdAt

publishers

authors

reactionGroups

pageUrl

alternatePageUrls

imgUrl

description

Co. Head of Research

Petri Gostowski

HKFoods är verksamt inom livsmedelsbranschen. Inom koncernen återfinns ett flertal dotterbolag med affärsverksamheten att sälja, marknadsföra och producera köttprodukter av gris, nöt och fågel. Koncernen driver hela värdekedjan, från slakt, styckning till förädling och vidareförsäljning av råvarorna. HKFoods innehar störst verksamhet inom den nordiska marknaden. Huvudkontoret ligger i Turku.

HKFoods

HKFoods announced on Monday that it had issued notes in the amount of 90 MEUR. The notes carry a floating interest rate based on 3-month Euribor plus a margin of 7.5%. 

Translation: Original comment published in Finnish on 6/11/2024 at 11:54 am EEST.
With higher-than-expected interest rates, our forecasts will come under some downward pressure and the interest rate level over the whole loan period is likely to be higher than our forecasts.
<h2>Refinancing will lead to a distinct rise in interest rates</h2>
HKFoods announced on Monday that it had issued notes in the amount of 90 MEUR. The notes carry a floating interest rate based on 3-month Euribor plus a margin of 7.5%. The notes have a term of three years and mature in June 2027.
The issuance of the new bond was expected, as it is part of the refinancing process of the company&apos;s previous 90 MEUR bond issue. <a href="https://www.inderes.se/analyst-comments/hkfoods-a-step-forward-in-extending-the-maturity-of-debts">As we wrote on Monday</a>, our projections included an assumption of around 9% interest rate for the new bond. Taking into account the current 3-month Euribor, the interest rate on the new loan will be around 11.25%. Forecasts for the Euribor rate over the next few years also suggest that the average interest rate over the entire loan period will be higher than expected.
In absolute terms, the interest rate on the new loan is quite high and came in higher than we had forecast. Thus, the high cost of refinancing puts upward pressure on our projections for net financing costs in the coming years. We will update our estimates at the latest with the Q2 results.

Inderes

Interest rate on new HKFoods bond higher than expected

Return on capital (ROE, ROI, ROIC, RONIC)

What does negative working capital mean and why is it a good thing?

Drug development investment: Value creation through M&As and licensing agreements

Income statement

Amazon continues to grow in Sweden

	2023	24e	25e
Omsättning	1 163,2	1 000,5	1 051,0
tillväxt-%	−36,57 %	−13,99 %	5,05 %
EBIT (adj.)	14,9	20,0	24,7
EBIT-%	1,28 %	2,00 %	2,35 %
EPS (adj.)	−0,25	−0,05	0,03
Utdelning	0,00	0,00	0,00
Direktavkastning
P/E (just.)	-	-	23,87
EV/EBITDA	7,13	4,51	3,60

Refinancing will lead to a distinct rise in interest rates

HKFoods

Key Estimate Figures03/06

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