Kendrion - Industrial leads the way

Despite the ongoing effects of the pandemic, supply chain constraints and volatile demand, Kendrion showed continued good revenue momentum in Q421 with organic revenue growth of 9%. Margins were lower due to supply chain issues, higher raw materials prices and a strong comparison base, but underlying trends such as electrification and energy transition continue to support strong growth. The unweighted average of our three valuation methods points to a fair value of €26.6 per share.

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