Bollore : Very good 2022 results and share buybacks on close to 10% of the capital, what next?
>Neutral recommendation reiterated with a target price unchanged at € 6.6 - Bolloré has published 2022 results that beat forecasts. The group has announced a share buyback on its own shares for 9.78% of its capital at € 5.75 (i.e. a premium of 12% on the closing price). This will increase Compagnie de l’Odet’s stake to 74.3%. This operation will cost the group € 1.7bn but leave it significant financial leeway. We think that an offer on Vivendi, possibly in cash and sh...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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