Apetit H1/18 Pre-Commentary: Show Me the Money

I wrote investment thesis about Apetit about one year ago, which was based on sum-of-parts valuation and expected turnaround in troublesome Food Solutions business. For a while I looked like a "genious" as soon the stock price went from about 13,50 EUR to above 15,0 EUR. Since then, however, the stock price has dropped to 12,5 …