Corticeira : Pre-pandemic levels more a reality than an ambition
>Raising estimates on strong H1 performance and favourable outlook - We are raising our estimates (sales and EBITDA 2021e +5% and +8% vs our previous estimates respectively) and target price (by +10% to € 13.5) following our Iberian Forum in which Corticeira flagged the positive sales trend in July-August across all divisions (with September figures still unavailable), the high likelihood of reaching the € 800m mark in sales in 2021 (vs our previous estimate of € 766m...Corticeira Amorim, S.G.P.S. is a holding company. Through its subsidiaries, Co. is engaged in the production, sale and distribution of cork products, including natural and agglomerated cork stoppers for the wine industry; cork stoppers and other components for the sparkling wines, spirits and champagne industry; cork plank and other products resulting from the processing of cork and used in other segments of the cork industry; floor and wall coverings; composition and granulated corks with several technical and industrial applications; cork with rubber; and expanded pure agglomerated and regranulated corks for technical, acoustic and vibration insulation.
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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