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Focus on growth

Analyysi 22.02.2018 18:53 Afarak

We argue that the current valuation reflects too high short-term expectations and on the contrary the negative development of market prices point to weakening earnings. In our view, the current premium valuation to book value would require a double digit return on equity, which we do not expect the company to reach in the short-term. We urge investors to focus on the company’s long-term growth initiatives.

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Trade. (Afarak)

Afarak is a global vertically-integrated producer of speciality alloys with operations in South Africa, Turkey, Germany, London, Helsinki and Malta. Recognised as a critical metal producer, Afarak supplies world leading companies in a broad range of industries across the globe. Afarak is listed on the NASDAQ OMX Helsinki Stock Exchange and the London Stock Exchange.