Bollore : Good results in transport and a solid start to the year
>Outperform recommendation maintained - Yesterday, Bolloré published its FY 2021 results followed by an analysts’ meeting. EBIT beat our expectations at € 938m, whilst we had forecast € 735m with a better-than-expected performance for Bolloré Transport & Logistics. Another difference stems from UMG's consolidation at the operational level (vs below EBIT as we had initially expected). We reiterate our Outperform recommendation on the share with a new target price of €...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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