Interview from the management talking about sales being good and water break even in 2-3 years (although their previous predictions in water business were wrong)
Hey Olivier, it's hard for me to understand the french Financials but I want to provide you a few questions. do they include in depreciation and amortization their lease expenses?
Are those added back to the operating cash flow and then subtracted in the financing cash flow?
It seems that they own the properties, am I right? If that's the case, it would imply that their initial Capex for a new bakery are super high if they don't do a sale lease back with much lower Returns.
How many bakeries did they opened, so it would be possible to get to average Capex per new bakery and divide the existing bakeries to receive the maintenance Capex per bakery.
That should support your efforts to do some modeling.
Interview from the management talking about sales being good and water break even in 2-3 years (although their previous predictions in water business were wrong)
https://investir.lesechos.fr/actions/actualites/l-equilibre-d-ici-2-ou-3-ans-pour-le-pole-eau-minerale-de-poulaillon-2016410.php
Hey Olivier, it's hard for me to understand the french Financials but I want to provide you a few questions. do they include in depreciation and amortization their lease expenses?
Are those added back to the operating cash flow and then subtracted in the financing cash flow?
It seems that they own the properties, am I right? If that's the case, it would imply that their initial Capex for a new bakery are super high if they don't do a sale lease back with much lower Returns.
How many bakeries did they opened, so it would be possible to get to average Capex per new bakery and divide the existing bakeries to receive the maintenance Capex per bakery.
That should support your efforts to do some modeling.