Report
Biogroup : Reinitiation of coverage with a Reduce recommendation on potential regulatory/covid headwinds and re-leveraging risks
>The normalization of covid revenues and tariff cuts will affect profitability going forward. - We like Biogroup’s leading positions in the routine testing market in France (#1) and Belgium (#2) leading to high profitability and cash flow generation. Routine testing is a growing market with volume expansion of +2.5-3% p.a. on average for Biogroup in France. That being said, the company is currently facing two operating headwinds : 1/ the normalization of covid ...
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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.
Pierre François Merveille
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