Report
Christophe-Raphaël Ganet

ODDO BHF Small & MIDCAP MORNING NEWS - 01/06/2022

We expect new digital service business models to provide attractive, margin-accretive and mutually-beneficial service leverage. Customers can expect TCO and overall equipment efficiency improvements of up to 30% and, in return, OEMs can expand high-margin software-based service business with limited incremental costs per unit. A number of factors prompt us to expect monetisation to be possible now: 1) Covid has shown the merits of digital solutions and accelerated adaptability, 2) cus...
Underlyings
Bastide Le Confort Medical SA

Bastide le Confort Medical is a holding company. Through its subsidiaries, Co. is engaged in the home health care industry. Co. retails and rents medical equipment and provides medical services. Products include breathing apparatus, orthopedic shoes, walking aids and wheelchairs, home appliances and furniture adapted to the needs of the lesser able, with the recent addition of equipment related to perfusion and nutrition. Co. operates through a number of outlets concentrated mainly in the South of France, offering advice and information to customers along with the provision and maintenance of medical equipment.

Compagnie d'Entreprises CFE SA

CFE is engaged in civil engineering, buildings and industrial construction, dredging works and electrical installations. Co. is also engaged in property development, environmental protection and building management. Co.'s works carried on by Co.'s civil engineering group includes the following: hydraulic engineering, harbor works, bridges, and other engineering works, tunnels, road construction, dams, storage tanks, piping and drainage and caissons sunken soft soil. Co.'s buildings and industrial construction sector is active in the following fields: administrative buildings, industrial construction, public utility buildings, redevelopment, and residential buildings.

SBM Offshore NV

SBM Offshore is a holding company. Co. provides floating production solutions to the offshore energy industry, over the full product life-cycle. Co.'s main activities are the design, supply, installation, operation and life extension of floating production, storage and offloading (FPSO) vessels. Other products include semi-submersibles, tension-leg platforms, floating production storage and offloading liquefied natural gas, turret mooring systems, brownfield and offshore (off) loading terminals. As of Dec 31 2015, Co.'s fleet consisted of 10 FPSOs, two floating storage and offloadings, one mobile offshore production unit, one semisubmersible in operation worldwide.

Sligro Food Group N.V.

Sligro Food Group NV is a company engaged in the food distribution industry, based in the Netherlands. It divides its business into two segments: Food Retail activities comprise around 130 full-service EMTE supermarkets with 30 operated by independent retailers; Food Service offers nationwide network of cash and carry and delivery service outlets serving large and small-scale hospitality, establishments, leisure facilities, volume users, company and other caterers, forecourt retailers, small and medium-sized enterprises, smaller retail businesses and the institutional market. The Company serves the institutional market trading under the name Van Hoeckel and the other segments of the market as Sligro. The Company's subsidiaries include CaterTechBV and Bejaco NV, including its subsidiaries JAVA BVBA and Freshtrans BVBA, jointly known as JAVA Foodservice.

TFF Group

Tonnellerie Francois Freres S.A.. TFF Group, formerly Tonnellerie Francois Freres SA, is a France-based company that manufactures and distributes oak barrels that are used to conserve and transport liquids. The Company has four core businesses: stave milling, cooperage, cask manufacturing and oak wine-aging products. Tonnellerie Francois Freres SA also offers oak products for oenology, where the wine is put in contact with wood in varied forms, and has developed products for the alcohol maturing and aging market, especially the whisky market. The Company offers four brands of barrels: Exclusif, Privilege, Classique and Horizon. As of December 31, 2011, Tonnellerie Francois Freres SA operated through its subsidiaries, including: Sogibois, Bouyoud, Treuil, Francois Inc, Classic Oak New Zealand, Demptos Napa, among others. The Company has operating units in France, the United States, Spain, Hungary, South Africa, China, New Zealand, Australia and Ireland. In May 2016, the Company acquired metal manufacturer SAS Lejeune.

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
Christophe-Raphaël Ganet

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