Bollore : Sluggish Q3 in transport but mix still favourable
>Buy rating reiterated - Bolloré reported Q3 sales yesterday which were in line with our expectations. The main factor was the organic decline in the "transport & logistics" division, which was down -4%, penalised by an unfavourable base effect (+10% in Q3 2018) and a decline in volumes in the transport commission business. The impact on profitability should, nonetheless be very limited given the variability of costs for this business. The trend nonetheless remains p...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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