I think he was totally caught off guard with this one. If you look at the slides, it was straight away a really nice free cash flow delta compared to last year. So that's what people were looking for. My fair value is around 26 and some change and it's trading at 31 euro. Look, you get this company for a 3.5% yield. It has a 5 year dividend growth record of 11%. Clearly, it's a chowder number. But if you're through a dividend growth investor, you can look actually a little bit easier.
In today's show, we are discussing our thoughts about Macro numbers and the news around it. We get often questions about this so we felt that it was about time to spend a little bit more time on this to explain our thoughts.
Besides this, we discuss earnings from Ahold Delhaize, Allianz and Siemens. Last but not least, we address many of your questions.
Enjoy the pod and C U on the inside!