〉 Massimo Zanetti Beverage Group – Equity
» The Slow & Steady
I first discovered the company when the University replaced the coffee vendor machines for the third time. Sleek and beautifully designed, the touchscreen machines were a clear preference compared to the previous ones. The company, fully controlled by Massimo Zanetti Beverage Group is small, ambitious and largely ignored. Risks include higher interest payments going forward and lower free cashflows due to large NWC changes. Most importantly, ROE & ROICs are low which are a high put off. However, I feel it is a good company with great products, trading at a fair range and is something to hold for a long run.