Colruyt : TP lowered to € 39, but Neutral recommendation maintained
>Disappointing H1 results, but stabilisation of market share is positive - Apart from Colruyt’s revenue (around flat), the group’s H1 results disappointed on most lines. Attributed to fierce competition, the pressure on Colruyt’s gross profit margin as well as on its EBIT(DA) margins was more severe than forecast. The Colruyt stores recorded particularly weak top-line performances, which led to 140bp lower EBIT profitability in the group’s Retail division (82% of reve...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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