Europe expansion is the go IMO to make beam as a company
50/50 split is enough motivation for both to make it work and off the back of US sales success new deals rather than cold calling will be like a knife through butter.
the road post relationship which is not financially lucrative day 1 is incredibly beneficial groundwork as a brand and proven sales model for a global business where the rewards to Beam come later than day 1.
yes I would love them to have a bigger % cut of US but they have punted out now by June nearly 50k units year 1 from a standing start which is pretty incredible. Even more so BCC SP is really not valued any more than it has been the last 5 years.
I do the maths (not as fancy valuation accounting maths as access but I can still model probability based scenarios) on what is in FY22 (starting July) they had same success in Europe distribution and model 1/2/3 years and looks like a massive winner
BCC Price at posting:
27.5¢ Sentiment: Buy Disclosure: Held
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