Degroof Petercam - Oeneo SA (SBT) Oeneo - Cork inflation weighs on margins, towards further stable results in 2023/24

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Degroof Petercam

Mohamed Mansour (IDMidCaps)

Oeneo - Cork inflation weighs on margins, towards further stable results in 2023/24

EBIT 2022/23 virtually stable, in line with Group guidanceEBIT Margin down -95bps to 15.7Difficult start to the 2023/24 financial year, with Q1 revenues expected to be down -10% for the cork divisionManagement target of slight to stable revenue growth in 2023/24, with profitability also unchangedUnattractive newsflow, but speculative aspect still in supportADD opinion confirmed, with an adjusted price target of €14 (vs. €15)

05/07/2023 1 EN

Underlying

Oeneo SA

Oeneo is engaged in the production of barrels for wine (casks, barrels, tanks, drums and alternative products) and technological corks for wine bottles.

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FR0000052680 Euronext Paris France

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Degroof Petercam

We are an investment house with Belgian roots founded on more than 150 years of trust.

As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.

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Analysts

Mohamed Mansour (IDMidCaps)

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Oeneo - Cork inflation weighs on margins, towards further stable results in 2023/24

Oeneo - Diam returns to growth in Q4

Oeneo - Sharp drop in sales in Q3, but the Group anticipates a smoother Q4

Oeneo - H1 recurring EBIT down as expected, no improvement until Q4

(Sponsored) Fastned - Gearing up for a growth spurt

(Sponsored) Biotalys NV - Fungal foes, natural fixes

(Sponsored) Whitestone Group - FY24: Important step in transparency

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