BEIERSDORF: Q3 sales grew 3.4% (cs: +4.4%), Tesa negative in Q3! | NEUTRAL | EUR89(-14%)
BEIERSDORF - NEUTRAL | EUR89(-14%)Q3 sales grew 3.4% (cs: +4.4%), Tesa negative in Q3!
Sales momentum still well oriented in Q3!
Tesa penalised by tougher macro environment
Group sales guidance unchanged despite Tesa revised down
Neutral unchanged
RegistrarFresenius Medical Care is a kidney dialysis company, operating in both the field of dialysis services and the field of dialysis products for the treatment of end-stage renal disease (ESRD). Co.'s dialysis business is vertically integrated, providing dialysis treatment at dialysis clinics it owns or operates and supplying these clinics with a range of products. In addition, Co. sells dialysis products to other dialysis service providers. In the U.S.A., Co. also provides inpatient dialysis services and other services under contract to hospitals. Co. provides patient services, including renal pharmaceutical products and in the U.S.A., laboratory services.
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.
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