Raadinta isbeddelka warshadaha kartoonada ee 2023 laga bilaabo heerka horumarka ee kooxaha baakadaha jiingadaha ee Yurub
Sannadkan, kooxda baakadaha kartoonada ee Yurub waxay sii hayeen faa'iidooyin sare marka loo eego xaaladda sii xumaanaysa, laakiin intee in le'eg ayay guushoodu socon kartaa? Guud ahaan, 2022 waxay u noqon doontaa sanad adag kooxda baakadaha kartoonnada. Kor u kaca kharashka tamarta iyo kharashka shaqada, shirkadaha ugu sarreeya Yurub, oo ay ku jiraan Smurf Cappa Group iyo Desma Group, ayaa sidoo kale si adag uga shaqeynaya inay wax ka qabtaan dhibaatada qiimaha waraaqaha.Sanduuqa warqadda
Sida laga soo xigtay falanqeeyayaasha Jeffries, ilaa 2020, oo ah qayb muhiim ah oo ka mid ah baakadaha wax soo saarka waraaqaha, qiimaha kartoonada dib loo warshadeeyay ee Yurub ayaa ku dhawaad labanlaabmay. Intaa waxaa dheer, qiimaha sanduuqa dhaladka ah ee si toos ah looga sameeyay logyada halkii laga isticmaali lahaa kartoonnada dib loo warshadeeyay waxay raacayaan qaab horumarineed oo la mid ah. Isla mar ahaantaana, macaamiisha qiimaha leh ayaa hoos u dhigaya kharashaadkooda internetka, taas oo iyaduna yaraynaysa baahida kartoonada. Shandad warqad ah
Sannadihii quruxda badnaa ee uu keenay COVID-19, sida amarada ku socda awood buuxda, sahayda kartoonnada cidhiidhiga ah, iyo sare u kaca qiimaha saamiyada ee shirkadaha baakadaha, dhamaantood way dhammaadeen. Si kastaba ha ahaatee, si kastaba ha ahaatee, waxqabadka shirkadahani waa ka fiican yahay sidii hore. Smurfit Cappa ayaa dhawaan sheegtay in EBITDA ay kordheen 43% laga soo bilaabo dhamaadkii Janaayo ilaa Sebtembar, halka dakhligeeda shaqo uu sidoo kale kordhay seddex meelood meel. Tani waxay ka dhigan tahay in kasta oo ay weli jirto rubuc wakhti ka hor dhammaadka 2022, dakhligeeda iyo faa'iidada caddaanka ah ee 2022 waxay dhaaftay heerkii ka horreeyay faafitaanka COVID-19.
Dhanka kale, Desma, oo ah shirkadda ugu sareysa baakadaha jiingadaha ee UK, ayaa sare u qaaday saadaasha sanadlaha ah laga bilaabo Abriil 30, 2023, iyadoo sheegtay in faa'iidada hawlgalka ee la hagaajiyay ee qaybta hore ee sanadka ay tahay ugu yaraan 400 milyan ginni, marka la barbar dhigo 351 milyan pounds ee 2019. Mengdi, oo ah shirkad kale oo baakadaha, ayaa kordhisay faa'iidada aasaasiga ah ee faa'iidada 3 boqolkiiba dhibcood iyo in ka badan labanlaab faa'iidadeeda marka hore kala badh sanadkan, inkasta oo ay wali leedahay ganacsiga Ruushka xaalad aad u adag sababtoo ah dhibaatooyinka aan la xalin.sanduuqa koofiyada
Faahfaahinta cusboonaysiinta macaamil ganacsi ee Desma bishii Oktoobar way yaraayeen, laakiin waxay xustay in "wareejinta sanduuqyada jiingadaha la midka ah ay yara hooseeyaan". Sidoo kale, kobaca xooggan ee Smurf Cappa ma aha natiijada iibinta kartoonada badan - iibkeeda kartoonnada jiingadaha ah ayaa sii ahaaday sagaalkii bilood ee ugu horreeyay 2022, oo xitaa hoos u dhacay 3% rubuci saddexaad. Taa lidkeeda, kooxdani waxay kordhisaa faa'iidadooda iyagoo kordhinaya qiimaha alaabadooda.Sanduuqa koofiyadda baseball-ka
Intaa waxaa dheer, isbeddelku uma eka inuu soo hagaagay. Shirka warbixinta maaliyadeed ee wacitaanka bishan, Tony Smurf, oo ah madaxa shirkadda Smurf Cappa, ayaa yiri: "Mugga ganacsiga ee rubuci afaraad wuxuu aad ugu eg yahay waxa aan ku aragnay rubuci saddexaad. Caadi ahaan waxaan fileynaa inaan ka soo kabsaneyno Christmas-ka. Dabcan, waxaan filayaa in suuqyada qaarkood sida Ingiriiska iyo Jarmalka ay si dhexdhexaad ah u sameeyeen labadii ama saddexdii bilood ee la soo dhaafay." Sanduuqa marada
Tani waxay keenaysaa su'aal: Maxaa ku dhici doona warshadaha sanduuqa jiingadaha ee 2023? Haddii suuqa iyo baahida macaamiisha ee baakadaha jiingadaha ay bilaabaan inay xasiliyaan, soosaarayaasha baakadaha jiingado ma sii wadi karaan inay kordhiyaan qiimaha si ay u helaan faa'iido sare? Marka la eego asalka adag ee makro iyo shixnadaha kartoonnada daciifka ah ee laga soo sheegay Mareykanka, falanqeeyayaasha ayaa ku faraxsan cusbooneysiinta Smurf Cappa. Isla mar ahaantaana, Smurfikapa waxa uu carabka ku adkeeyay in "isbarbardhigga kooxda iyo sannadkii hore uu yahay mid aad u xoogan, mar walbana waxaan aaminsanahay in tani ay tahay heer aan la sii wadi karin". sanduuqa hadiyadda Christmas
Si kastaba ha ahaatee, maalgashadayaasha ayaa aad uga shakisan. Qiimaha saamiga Smurf Cappa ayaa 25% ka hooseeyay kii ugu sarreeyay ee cudurkan, halka saamiga Desma uu hoos u dhacay 31%. Yaa saxan? Guushu kuma xidhna oo keliya iibinta kartoonada iyo kartoonada. Falanqeeyayaasha Jeffries ayaa saadaaliyay in marka loo eego baahida macro ee daciifka ah, qiimaha kartoonada dib loo warshadeeyay uu hoos u dhici doono, laakiin sidoo kale waxay ku nuuxnuuxsadeen in kharashka waraaqaha qashinka iyo tamarta ay sidoo kale hoos u dhacaan, sababtoo ah waxay sidoo kale ka dhigan tahay in qiimaha wax soo saarka baakadaha uu hoos u dhaco.
"Aragtidayada, waxa inta badan la iska indho-tiro ayaa ah in kharashyada hoose ay saameyn weyn ku yeelan karaan dakhliga. Ugu dambeyntiina, kuwa sameeya sanduuqyada jiingadaha, faa'iidooyinka dhimista kharashka ayaa ka soo muuqan doona ka hor qiimaha kartoonada hoose ee suurtogalka ah, kaas oo aad uga muuqda habka hoos u dhaca (da'da 3-6 bilood). Guud ahaan, dakhliga ka soo xarooda qiimihiisu hooseeyay waxa qayb ahaan ka soo baxay kharashka madaxa dabaysha ee dakhliga. falanqeeyayaasha Jeffries ayaa yiri. Sanduuqa dharka
Isla markaana, dhibaatada dalabka lafteedu maaha mid toos ah. Inkasta oo ganacsiga e-commerce iyo gaabisku ay khatar gaar ah ku keeneen waxqabadka shirkadaha baakadaha jiingadaha, saamiga ugu badan ee iibka kooxahan ayaa inta badan ku jira ganacsiyada kale. Desma, qiyaastii 80% dakhligu wuxuu ka yimaadaa alaabada macaamiisha ee dhaq-dhaqaaqa degdega ah (FMCG), kuwaas oo u badan alaabooyinka lagu iibiyo dukaamada waaweyn. Qiyaastii 70% baakadaha kartoonnada ee Smurf Cappa waxaa la siiyaa macaamiisha FMCG. Iyadoo horumarinta suuqa terminalka, tani waa inay caddeysaa inay dabacsan tahay. Desma waxay ogaatay korriinka wanaagsan ee beddelka caagga ah iyo meelaha kale.
Sidaa darteed, in kasta oo ay jiraan isbeddellada dalabka, uma badna inay hoos uga dhacaan meel gaar ah - gaar ahaan marka la tixgaliyo soo noqoshada macaamiisha warshadaha ee uu si xun u saameeyay faafitaanka COVID-19. Tani waxaa taageeray waxqabadkii ugu dambeeyay ee MacFarlane (MACF), oo tilmaamay in dib u soo kabashada macaamiisha ee duulista, injineernimada iyo warshadaha hoteeladu ay hoos u dhigeen saameynta hoos u dhaca wax iibsiga ee internetka, iyo dakhliga shirkadda ayaa kor u kacay 14% markii ugu horeysay. lix bilood ee 2022. sanduuqa gaarsiinta cuntada xayawaanka
Xirmooyinka jiingadaha sidoo kale waxay isticmaalaan faafitaanka si ay u hagaajiyaan dheelitirkooda. Tony Smoffey, oo ah maamulaha guud ee Smoffey Kappa, ayaa carabka ku adkeeyay in qaab dhismeedka raasumaalka shirkadiisu uu kujiro "xaaladda ugu wanaagsan taariikhdeena", iyo faa'iidada deynta/kahor faa'iidada amortization-ku waxay ka yaraatay 1.4 jeer. Miles Roberts, oo ah madaxa shirkadda Desma, ayaa tan ku raacay Sebtembar, isaga oo sheegay in saamiga deynta / ka hor faa'iidada amortization ee kooxdu ay hoos ugu dhacday 1.6 jeer, "taas oo ah mid ka mid ah saamiyada ugu hooseeya sannado badan".sanduuqa maraakiibta
Dhammaan kuwan waxay la macno yihiin in falanqeeyayaasha qaarkood ay rumeysan yihiin in suuqa uu ka falceliyay, gaar ahaan kiiska xirmooyinka FTSE 100, kuwaas oo qiimahoodu hoos ugu dhacay 20% guud ahaan faa'iidada amortization-ka ee la filayo. Qiimayntoodu hubaal waa mid soo jiidasho leh. Saamiga hore ee P/E ee Desma waa 8.7 kaliya, halka celceliska shanta sano uu yahay 11.1, halka saamiga P/E ee hore ee Smurfikapa uu yahay 10.4, celceliska shanta sanona uu yahay 12.3. Inta badan, waxay kuxirantahay haddii shirkadu ay ku qancin karto maalgashadayaasha inay sii wadi karaan inay yeeshaan waxqabad la yaab leh 2023.sanduuqa rarida boostada
Waqtiga boostada: Dec-27-2022