What is wrong with the margin ?The target for 2025 (all year) is a 18% margin for adjusted EBITDA.
We are at 15,5% for the two first quarters, down slightly Y/Y from 15,6%.
There is a long road to be at 18%.
Management could have explanations and confidence but it is clearly challenging. Balance that with the Spirit file : What will be the additional supply costs for the parts from Spirit ? Don't expect that all will be the same as before for that supplier.
Markets are pitiless, These stellar results had some parts of shadow. Market focus on them.