Report
Pierre Tegner

Beiersdorf : Pas de progression de la marge opérationnelle en 2018. Organique en ligne avec le consensus de 5.4% mais > Oddo BHFe

>Warning sur la progression de la MOP ? - Neutre maintenu. Jusqu’à présent nous anticipions un ajustement graduel des attentes de progression de la marge opérationnelle pour 2019, faute de visibilité sur la stratégie du nouveau CEO. Cet ajustement aurait justifié une révision en baisse des attentes d’EBIT de près de 4% sur 2019. Il se trouve que le management crée la surprise plus vite que prévu en indiquant que le niveau de marge opérationnelle de 2018 sera en ligne ...
Underlying
Beiersdorf AG

Beiersdorf manufactures and distributes consumer goods. Co. operates in two business segments: consumer, which is Co.'s main business that focuses on the skin and body care markets, with products including NIVEA's Deodorant Invisible for Black & White, NIVEA Deodorant Stress Protect, NIVEA In-Shower Body Lotion, NIVEA Cellular Anti-Age face care, and Eucerin's VOLUME-FILLER; and tesa, which develops, produces, and markets self-adhesive products and system solutions for industry, craft businesses, and consumers. In the electrical industry, the tesa business segment's adhesive systems are used in mobile devices such as smartphones, tablet personal computers, and MP3 players.

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
Pierre Tegner

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