B&S Group S.A. : Solid Q1 2024; new € 7 TP (up from € 6) still below a ‘normal’ valuation
>Group revenue and organic sales growth ahead of our forecast in Q1 2024 - B&S Group reported net sales of € 529.7m and organic sales growth of 1.2% in Q1 2024. There was no consensus available, but reported sales and organic sales growth came in slightly ahead of our forecasts of € 524.6m and 0.5%, respectively. B&S Group commented qualitatively on gross profit and costs, saying that the gross profit margin improved slightly, while staff costs remained stable in abso...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.
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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