Report
Robert Jan Vos

B&S Group : Another year that proved B&S Group’s adaptability in fast-changing markets

>B&S Group beat estimates on most lines with strong cash flow in 2020 - B&S Group beat consensus expectations for sales, EBIT(DA) and net profit in 2020. Attributed to the very strong performance of the minorities, EPS and dividends came in below forecasts however. Cash generation was above expectations as well, again showing that management can quickly adapt to changing markets. Pre-IFRS 16 net debt even declined compared with last year, with working capital as the m...
Underlying
B&S Group S.A.

B&S Group SA is a Luxembourg-based company, which serves as a distributor of consumer goods. The Company acts as a source supplier to a number of channels and specialized markets. B& Group SA operates within three segments: The HTG Segment, which purchases products in bulk on an ad hoc basis from manufacturers, wholesalers, distributors and international retail chains, as well as provides suppliers the opportunity to dispose of stock lots, closeout products and excess inventory; the B&S segment, which includes the purchase of consumer goods directly from premium brand owners and informs customers regarding strict food safety guidelines or specific cultural and national preferences and requirements, and the Retail Segment, which sources a focused selection of travel electronics from various partnerships and offers a selected assortment of the product groups sourced within the distribution activities in HTG and B&S.

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
Robert Jan Vos

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