Breville Group (BRG) – Returns to recover
December 17, 2024
Breville Group designs, develops, markets, and distributes small electrical kitchen appliances in the consumer products industry in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its products sell under the Breville, Kambrook, Baratza, Sage and Lelit brand names. Breville was founded in 1957 and is headquartered in Alexandria, Australia.
Breville has experienced a notable decline in its return on capital over the past five years, but Ord Minnett views FY24 as the cyclic allow for returns. Our projections indicate a rebound as sales growth accelerates and operational leverage improves. This sales growth is expected to stem from improved sales momentum, innovative product development, and recent strategic acquisitions. Our target price has increased by 12% to $7.20 and we maintain our Buy recommendation.
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