Bollore : Q4 a shade below expectations on transport but no other impact on our forecasts
>Q4 sales a shade below expectations on the transport division - Bolloré reported Q4 sales yesterday evening which were a shade below our expectations. The trend was notably “lacklustre†for the transport & logistics division (+2% on an organic basis in Q4 vs +11% in Q3), with, however, a challenging base effect (+14% in Q4 2017). The oil logistics activity came in ahead of our expectations at +29% in terms of organic growth (vs +15% forecast). We reiterate our Buy r...Bollore is a holding company. Through its subsidiaries, Co. conducts business in international logistics, transportation and logistics in Africa (port management, stevedoring, logistics), fuel distribution, batteries and supercapacitors, electric vehicles, plastic films for capacitors and packaging, dedicated terminals and systems, plantations, communicationa and the media (television and free press, advertising and market research) and the management of portfolio shareholdings. Co.'s activities can be divided into four segments: Transportation and logistics, Industry, Fuel distribution, and Other activities.
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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