Buying growth at value prices

11 August 2025

The European company featured in this report has delivered decades of consistent growth – doubling its revenue in the 1990s, 2000s, and 2010s. Its global brand defies criticism that Europe lacks high-quality growth businesses.

The momentum continued in the 2020s under the leadership of a new CEO, an accomplished executive with a track record of transforming a major US company.

To accelerate growth, the company made significant upfront investments. While this temporarily pressured margins and weighed on the share price, the long-term fundamentals remain intact.

One of the world's most astute investors has recently increased his stake and demanded management to unlock greater shareholder value.

That major shareholder has already ploughed EUR 1bn into this investment, and "threatens" to buy more.

Before he does, you should pick up some of this undervalued stock for yourself.

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