Report
Juan Ros-Padilla

Ebro Foods : Q3 EBITDA beats. NP significantly above on asset disposal

>Q3 EBITDA margin expands 0.7pp vs a flat street expectation - Overall, Ebro’s Q3 is again a solid quarter in operational terms (beating both ours and the consensus numbers) as it has been able to consolidate previous RSP increases and keep (or even increase) its market share in a trade-down scenario. As a result, Rice shows a 0.8pp y-o-y margin expansion to 12.8%, which is 1.0pp above the last two years’ Q3 average while Pasta is also expanding its margin with a +0...
Underlying
Ebro Foods SA

Ebro Puleva is a food manufacturing group based in Spain. Co. is engaged in the manufacture and marketing, export and import of sugar, rice, dairy products, and products destined for agriculture development and human and animal consumption. Co.'s brand names include: Panzani®, Ronzoni®, American Beauty®, Skinner®, Lancia®, Catelli®, Healthy Harvest®, etc. in pastas and sauces, Mahatma®, Sucess®, Carolina®, Lustucru®, Taureau Aile®, Oryza®, Bosto®, Reis-Fit®, Riceland®, Danrice®, Risella®, Brillante®, Nomen®, La Cigala® and La Fallera® in the rice sector, Puleva®, Ram® and El Castillo® in the dairy sector, and Azucarera® and Sucran® in the sugar sector.

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
Juan Ros-Padilla

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