High Co SA is a France-based marketing services group for mass-market retailers and consumer goods manufacturers. The Company offers marketing solutions, such as coupon issuing, a promotional technique that entitles the customer to a discount on a product; sampling, which consists in offering free samples to test a product; point-of sale, which ranges from shelf tags to in-store radio announcements, floor graphics and in-store field marketing; clearing, which consists of processing discount coupons and money-back offers; marketing communication agencies, which provide support for brands and retailers in their marketing campaigns, and digital services with the subsidiary, HighCo 3.0., which advises and assists clients on the integration of digital technologies for distributors and brands. The Company operates in France, Spain, United Kingdom, Poland, Russia and Turkey, among others.
  • TickerHCO
  • ISINFR0000054231
  • ExchangeEuronext Paris
  • SectorMedia
  • CountryFrance
Julien Onillon

HighCo: Resilience, rebound and new opportunities

Four months ago, the specialist coupon marketing company was facing the worst crisis in its history. The COVID-19 crisis led to an unprecedented drop in its revenues (gross margin down 42% in April and 32% in May) and the management was putting HighCo in survival mode. With 75% of fixed costs, the company could indeed fear the worst. The worst did not happen. HighCo remained very largely profitable and even managed to improve its cash position.

Hana Maalej

HighCo : Q2 beats expectations, COVID-19 set to dent the rest of the year

>Gross profit down 21.6% to € 19.6m (vs € 18m estimated) - HighCo published yesterday evening Q2 gross profit down 21.6% to € 19.6m, slightly better than expected (-28% estimated to € 18m) thanks to a small technical post-lockdown rebound in June (+2.6%) after sharp declines in April and May (-42% and -31% respectively). It should be remembered that the quarter was marked by strong seasonality (Easter, Mother's Day, Father's Day, etc.). H1 gross profit fell by 16.1% ...

Nicolas Thorez

ODDO BHF Small & MIDCAP MORNING NEWS - 07/17/2020 Date Performance since listing Date Performance since listing

We are forecasting an historically low H1 2020, penalised by the lockdown effects. On the basis of our H1 estimates and the full-year consensus, several stocks are likely to disappoint (Imerys and Vicat). Conversely, the full-year consensus seems to incorporate a margin for error and, possibly, potential for upward revision for LafargeHolcim, Getlink and Eiffage. Saint-Gobain and Eiffage remain our favourite stocks, particularly as the market and investors are already looking to 2021....

Julien Onillon

HighCo: Resilience, rebound and new opportunities

Four months ago, the specialist coupon marketing company was facing the worst crisis in its history. The COVID-19 crisis led to an unprecedented drop in its revenues (gross margin down 42% in April and 32% in May) and the management was putting HighCo in survival mode. With 75% of fixed costs, the company could indeed fear the worst. The worst did not happen. HighCo remained very largely profitable and even managed to improve its cash position.

Hana Maalej

HighCo : Q2 beats expectations, COVID-19 set to dent the rest of the year

>Gross profit down 21.6% to € 19.6m (vs € 18m estimated) - HighCo published yesterday evening Q2 gross profit down 21.6% to € 19.6m, slightly better than expected (-28% estimated to € 18m) thanks to a small technical post-lockdown rebound in June (+2.6%) after sharp declines in April and May (-42% and -31% respectively). It should be remembered that the quarter was marked by strong seasonality (Easter, Mother's Day, Father's Day, etc.). H1 gross profit fell by 16.1% ...

Hana Maalej

HighCo : Un T2 meilleur qu’attendu mais le COVID-19 pèsera sur le reste de l’année

>MB en baisse de 21.6% à 19.6 M€ (vs 18 M€e) - HighCo a publié hier soir une MB T2 en baisse de 21.6% à 19.6 M€, légèrement meilleure qu’attendu (-28%e à 18 M€e) grâce à un petit rebond technique post déconfinement en juin (+2.6%) après de fortes baisses en avril et mai (-42% et -31% respectivement). Rappelons que le trimestre est marqué par une forte saisonnalité (Pâques, fêtes des mères/pères…). La MB S1 se replie de 16.1% à 40.4 M€ (vs -19.3% à 38.9 M€e). Le ...

Hana Maalej

HighCo : Start to the year hit by the crisis, tougher Q2 – Target price cut to € 3.9, Neutral rating reiterated

>Gross margin down 10.3% to € 20.8m (vs € 21.4m est.) - HighCo reported yesterday evening Q1 gross margin down 10.3% to € 20.8m, missing our expectations (-7.7% to € 21.4m). Despite good revenue in January and February (slight growth), March suffered the first effects of the crisis (stores closed, campaigns postponed or cancelled, etc.) and was alone hit by a 27.4% decline. International market holds up well, France plummets – Digital more resilient than ...

Hana Maalej

HighCo : Un début d’année pénalisé par la crise et un T2 encore plus difficile – OC abaissé à 3.9 € - Neutre réitéré

>MB en baisse de 10.3% à 20.8 M€ (vs 21.4 M€e) - HighCo a publié hier soir une marge brute T1 en repli de 10.3% à 20.8 M€, inférieure à notre attente (-7.7%e à 21.4 M€e). En dépit d’une activité bien orientée en janvier et février (légère croissance), le mois de mars subit les premiers effets de la crise (magasins fermés, campagnes reportées ou annulées…) et accuse à lui seul une baisse de 27.4%. L’international résiste tandis que la France se replie fort...

Nicolas Thorez

ODDO BHF Small & MIDCAP MORNING NEWS - 07/17/2020 Date Performance since listing Date Performance since listing

We are forecasting an historically low H1 2020, penalised by the lockdown effects. On the basis of our H1 estimates and the full-year consensus, several stocks are likely to disappoint (Imerys and Vicat). Conversely, the full-year consensus seems to incorporate a margin for error and, possibly, potential for upward revision for LafargeHolcim, Getlink and Eiffage. Saint-Gobain and Eiffage remain our favourite stocks, particularly as the market and investors are already looking to 2021....

Nicolas Thorez

ODDO BHF Small & MIDCAP MORNING NEWS - 17/07/2020 Date Performance depuis l’entrée Date Performance depuis l’entrée

Nous tablons sur un S1 2020 historiquement bas, pénalisé par les effets du confinement. Sur la base de nos estimations S1 et du consensus annuel, plusieurs valeurs nous semblent susceptibles de décevoir (Imerys et Vicat). A l’inverse, le consensus annuel nous semble intégrer une marge d’erreur, voire un potentiel de révision à la hausse pour LafargeHolcim, Getlink et Eiffage. Saint-Gobain et Eiffage restent nos valeurs préférées d’autant que le marché et les investisseurs ont déjà tou...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Fatma Ayachi
  • Fehmi Ben Naamane
  • Hana Maalej
  • Jean-François Granjon
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Martial Descoutures
  • Nicolas Thorez
  • Oussema Denguir
  • Philippe Ourpatian
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 04/23/2020

We estimate that net current cash flow per share for the property companies we cover will be reduced on average by -11.3% in 2020e and -6.0% in 2021e. Retail property companies are likely to be hit the hardest while office and healthcare property groups should prove more resilient. Our Top Picks against this backdrop are Gecina and Colonial in office property, Cofinimmo in healthcare property and Klépierre in retail property. We downgrade Merlin Properties from Buy to Neutral. - ...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Fatma Ayachi
  • Fehmi Ben Naamane
  • Hana Maalej
  • Jean-François Granjon
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Martial Descoutures
  • Nicolas Thorez
  • Oussema Denguir
  • Philippe Ourpatian
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 23/04/2020

...

Anis Zgaya ...
  • Aurelien Sivignon
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Geoffroy Michalet
  • Hana Maalej
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Nicolas Thorez
  • Samantha Jeary

ODDO BHF Small & MIDCAP MORNING NEWS - 03/25/2020

...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Jehanne Leroy

High Co - Assemblée Générale des actionnaires du 11 mai 2020

Concernant la politique de rémunération proposée en résolution 7 pour le nouvel exercice, cette dernière manque de précision sur les montants en jeu, les conditions de performance, et permet l’attribution d’une rémunération totale excessive, qui ne respecte pas notre politique de vote. Le rejet de la résolution 7 entraînerait l’application de la politique de rémunération précédente, or cette politique de rémunération est identique à celle proposée cette année. Le rejet de cette résolution 7 n'aurait donc pas d'effet pertinent. Le seul moyen de contraindre le conseil à proposer une politique de...

Florian Béchaz

High Co - Assemblée Générale des actionnaires du 20 mai 2019

Quelques points d'attention prioritaires sont à signaler. Tout d'abord, le Conseil d'administration a un taux très faible d'indépendance, à savoir 16,67%. Proxinvest regrette que la société ne propose pas la nomination de membres indépendants dans son conseil. Par ailleurs, la durée de mandat, de 6 ans, ne respecte pas la pratique de la place. Enfin, la Société pourrait fortement s'améliorer en matière de communication et transparence, même si cette année les montants en jeu étaient très raisonnables, ce qui permet à Proxinvest de recommander l'approbation des rémunérations 2018.

SRI Quantitative KPIs

Les analyses Gaïa sont des analyses ESG (Environnement, Social, Gouvernance) dediees aux entreprises de tailles intermediaires (PME, ETI) françaises. Elles presentent 120 indicateurs quantitatifs sur les trois derniers exercices.

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