ComfortDelGro - CGS-CIMB Research 2024-01-24: Awarded Stockholm Metro Tender

• ComfortDelGro announced that its joint venture, Connecting Stockholm, has been awarded a contract to operate and maintain the Stockholm Metro. Connecting Stockholm is a 55:45 joint venture between Go-Ahead Group (GOG LN) and ComfortDelGro.

About The Stockholm Metro Contract

• - Read this at SGinvestors.io -
• The contract is for a term of 11 years, starting in May 2025F.
• According to Swedish media outlet Dagens Nyheter, the contract value is ~SEK40bn (S$5.1bn).

New operating geography for ComfortDelgro

• - Read this at SGinvestors.io -
• Stockholm Metro is ComfortDelGro’s first rail contract in Sweden and its largest rail passenger operation outside of Singapore. This also marks ComfortDelGro’s third successful entry into a new operating geography since 2021, having won contracts in New Zealand and France similarly via a partnership model.

Partnership model

• Read more at SGinvestors.io.

Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.

Previous report by CGS-CIMB:
2024-01-11 ComfortDelGro - 4Q23 PATMI Likely To Double Y-o-y; UK Tailwinds Fuel Growth In FY24.

Price targets by 6 other brokers at ComfortDelGro Target Prices.

Listing of research reports at ComfortDelGro Analyst Reports.

Relevant links:
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ComfortDelGro Announcements,
ComfortDelGro Dividend Payout Dates & Corporate Actions,
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