Beiersdorf : Warning sur la marge opérationnelle de 2021 : pas de progression attendue après la baisse de 140 pb publiée sur 2020
>Le contre effet du focus opérationnel - Nous continuons de penser que Beiersdorf devrait sous-performer malgré la baisse de 14% du titre sur 12 mois. La performance opérationnelle de 2020 est en ligne avec les attentes mais elle montre les limites d’un groupe diversifié stratégiquement et trop concentré opérationnellement ; déséquilibre pays, portefeuille de marques restreint, sous-exposition au canal digital etc. Dans l’immédiat, le titre devrait réagir négati...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.
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.
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