Rekeep - Déjà Vu - Model Update

We model the potential implications of an adverse outcome in the Palermo investigation, drawing parallels with the FM4 case and isolating the strategic importance of the Laundry & Sterilisation division within the broader Rekeep Group. Our analysis incorporates a range of possible fines and sanctions, assessing their effect on investor sentiment, cashflow and long-term profitability. Following the release of Q3 results, we updated our model, which continues to reinforce our original investment thesis.