Colruyt Group N.V. : TP raised to € 43 (from € 40); Neutral reiterated
>Strong jump in sales and EBIT(DA) in H1 2023/24 - Colruyt’s sales and EBIT(DA) came in stronger than we had forecast for H1 2023/24. The beat was mainly attributable to the Retail operations which reported growth of 16% in H1 2023/24. Within Retail, Colruyt stores posted sales growth of 14%, compared with our forecast of 8%. The smaller food brands and most of the non-food brands also reported stronger-than-expected sales growth. Gross profit came in ahead of forecas...Etablissements FR Colruyt is engaged in wholesale, food service, distribution of fuels, production of electricity and digital printing. Co. has three operating segments: retail, which relates to stores under Co.'s own management which directly sell to retail customers and bulk consumers; wholesale and foodservice, which supplies to wholesalers, commercial customers and affiliated independent merchants; and other activities, which operates gas stations, engaged in printing and document management and provides alternative energy.
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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