When the going gets tough

  • Sectors : Business Support Services
  • Companies : Applegreen

Ratings and price correct at time of issue.

  • Applegreen

    Closing Price: 220c

  • RATING 23/07/15



Unprecedented times demand unprecedented actions, and the Applegreen management team is moving aggressively to take out cost and shore up liquidity as the economic impact of COVID-19 hits. Key to navigating this crisis will be managing the swing in the group’s negative €198m working capital position as demand falls in the coming months. The group currently has access to €141.5m gross cash and the potential to draw down an additional €158m. Assuming that current severe restrictions on movement don’t extend into the summer, Applegreen is well positioned to trade through this. Our price target and forecasts are under review.

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Mar 27 2020, 07:35 GMT