Richemont : Moindre levier opérationnel qu’escompté et toujours pas de deal sur YNAP
>Activité au T4 sans surprise mais l’EBIT FY ressort près de -10% sous les attentes reflétant une augmentation plus forte des coûts - Le CA annuel ressort à 19181 M€ indiquant un CA T4 à 4 16 M€ soit une croissance de +27% y/y tcc l’EBIT atteint 3390 M€ reflétant une marge de 17.7%, ce qui donne un S2 à 1441 M€ soit une marge de 14.0% (contre une marge S1 à 21.9%). Nous attendions respectivement 19094 M€ (soit une croissance tcc au T4 de +26%) et 3765 M€ (marge à 19.7...Compagnie Financiere Richemont is engaged in the luxury goods market. Co.'s interests encompass some names such as Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill, Montblanc and Net-a-Porter. Co.'s luxury goods businesses are separated into four segments: Jewellery Maisons (design, manufacture and distribution of jewellery products), Specialist Watchmakers (design, manufacture and distribution of precision timepieces), Montblanc Maison (design, manufacture and distribution of writing instruments) and Other Businesses (Alfred Dunhill, Lancel, ChloA(c), Net-a-Porter, Purdey, textile brands and other manufacturing entities).
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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