Scaling necessary to survive in thin-margin business, high oil price could offset gains from demand rebound, and growing environmental burden is a poison pill for margin.
Soaring energy prices in Europe lead to revenue explosion, green shift to stay competitive requires CAPEX ramp-up, and strong years ahead lead to attractive dividend yields.
Consolidation of manufacturing sites drives margin expansion, high single-digit industry growth mainly driven by Asia, and consistent value creation while peers struggle.
Gearing up in M&A activity to drive top-line growth, growing CAPEX lays foundation for organic growth, and management focus on ROIC should enhance returns.