Report
Christian Arnold

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 19/12/2025

Underlyings
ALSO Holding AG

Also Holding is a holding company. Through its subsidiaries, Co. is one of the European companies in the wholesale and logistics sector for information technology and consumer electronics (ICE). Co. specializes in ICE distribution and logistics services. As part of its ICE distribution activities, Co. works with well-known manufacturers of hardware and software, and provides additional services in value-added sectors such as high-end-servers, storage, security and networks.

CECONOMY AG

Metro is a holding company. Through its subsidiaries, Co. is engaged in retail and wholesale. Co.'s operations are divided into four divisions: Metro Cash & Carry, Real, Media-Saturn and Galeria Kaufhof. The Metro Cash & Carry division operates in the cash and carry sector in Europe, Asia and Africa. The Real division is a hypermarket operator in Germany where it operates both stationary stores and an online store. The Media-Saturn division provides an assortment of brand products in consumer electronics retailing. The Galeria Kaufhof division operates department stores in Germany and Belgium. Co. is also a property manager through METRO PROPERTIES GmbH & Co. KG.

Fluidra S.A.

Fluidra is engaged in the manufacture and commercialization of accessories and specific products for swimming pools, irrigation, and water treatment and purification systems.

HORNBACH Holding AG & Co. KGaA

Hornbach Holding is engaged in the development and operation of do-it-yourself (DIY) megastores with garden centers on an international basis. In addition, Co. and its subsidiaries are engaged in the construction materials and builders' merchant business. Co. operates within two segments: retail business and its real estate business. As of Feb. 28, 2014, Co. was operating a total of 49 DIY megastores with garden centers in eight countries outside Germany.

NX FILTRATION HLDG BV

OC Oerlikon Corporation AG

OC Oerlikon supplies production systems, components, support and services for applications in the mobility, energy, food, infrastructure, functional wear and electronics markets. Co. operates in four Segments: Surface Solutions, which is a supplier of surface technologies, provides customers a range of coating solutions, products and services; Manmade Fibers, which provides plant solutions for the production of chemical fibers; Drive Systems, which supplies gear, drive and shifting solutions; and Vacuum, which provides a range of vacuum pumps and components for the manufacturing process industries, coatings technology applications, instrumental analysis as well as research and development.

YOUNITED FINANCIAL S.A.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Christian Arnold

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