@Howsy89 In 2023, the company expects to achieve revenue of 52 billion and EBITDA of 14 billion. DTC sales are targeted at 15 billion. Synergies will save a further 3 billion. The FCF will initially be used to reduce debt, which is also the main risk. The FCF is expected to be around 8 billion, which would mean an FCF yield of around 20% at the current market capitalization. That would be brutally good and the market capitalization should then follow suit in the medium term đź‘Ť
