Debt And Financial ChallengesYE24 net debt is expected to remain at a similar level to September, indicating challenges in reducing debt despite operational improvements.
ProfitabilityThe business is not as profitable or as free cash flow generative as previously thought, and forecasts have been reduced due to higher capex and opex estimates.
ValuationThe risked NPV10 valuation for Harbour has been cut by approximately 28%, leading to a lower target price.