(Boursier.com) — ADP Group camped on 139 euros this Friday, while Mediobanca initiated the coverage of the Group with a ‘neutral’ opinion and a target price of 143 euros. SG had already taken over the monitoring of the airport file with an opinion to ‘keep’ and a target price of 144 euros. The group plans to return to 2019 traffic levels between 2023 and 2024. The EBITDA margin is expected between 32 and 37% in 2023, and between 35 and 38% over 2024 and 2025. for 2023, 2024 and 2025.
The financial debt/Ebitda ratio would be 3.5x – 4.5x in 2025, taking into account targeted international growth.
Groupe ADP’s payout rate is announced at 60% of NIGS, with a floor of 3 euros per share for the 2023-2025 period.
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