Report
Jeremy Garnier

Chargeurs : Good Q3 revenues - gradual recovery confirmed and better visibility, we have upgraded to Outperform

>Q3 revenues up 11.2% (+10.5% l-f-l) at € 165.3m - Chargeurs’ Q3 revenues, reported this morning, were close to our forecast with growth of 11.2% to € 165.3m (vs € 175m est.). Over nine months on a cumulative basis, revenues came to € 539.6m (vs € 550m est.) reflecting growth of 9.4% (+10.9% l-f-l). Revenues from nearly all the divisions were in line with our expectations, the gap for Museum studio stemming from delayed billing for projects from quarter to quarter bu...
Underlying
Chargeurs SA

Chargeurs SA is a France-based company, which provides customizable specialty material solutions. The Company and its subsidiaries operate in four sectors: Protective Films, Fashion Technologies, Museum Solutions and Luxury Materials. Protective Films designs, produces and markets technical solutions to protect the quality of steel, aluminum, plastic or other surfaces during the transformation process, as well as film application machines. Fashion Technologies produces and markets linings for clothing. Museum Solutions includes the industrial divisions Senfa, specialized in the functionalization of technical textiles, and Chargeurs Creative Collection, specialized in the provision of services to cultural institutions. Luxury Materials manufactures and markets combed wool ribbons. The Company is active globally.

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
Jeremy Garnier

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