Report
Cedric Rossi

Tougher-than-expected start to the year, but FY 2023 outlook reiterated

In February, BIC guided to weak Q1 numbers given tough comps and lingering impacts from inflation. Whilst Q1 sales were a touch shy of the CSS estimate (-1%), the aEBIT missed CSS expectations by 15% due to the combined effects of inflation, FX, and opex. This publication should put the stock under
Underlying
Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Cedric Rossi

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