Eurofins : H1 2020 slightly above our expectations, COVID-19 tests have increased in July. Target price € 640 vs € 600
>Slightly higher than our forecasts - Eurofins this morning reported solid 2020 interim earnings, slightly ahead of our expectations. Sales totalled € 2,323m, up +7.2% of which 5.1% organic, up sequentially (org. Q2 6.1% vs 4.1% in Q1).Adjusted EBITDA stood at € 493m vs € 480me, i.e. an increase of +210bp (18.9%). SDIs (Separately Disclosed Items) came out at € 35m vs € 44m in n-1 (and an expected lower level in H2, the guidance being € 60m). The share of sales i...Eurofins Scientific is an international life sciences company operating in food & pharmaceutical products testings. Co. provides analytical testing services to clients from various industries including pharmaceutical, food, and environmental sectors. Co. offers analytical methods for evaluating the authenticity, origin, safety, identity, composition, and purity of biological substances & products. Co. verifies authenticity of products analyzed to detect dangerous components (pathogens, prions, pesticides, asbestos, mycotoxins, dioxins, toxic substances, etc.). Co. operates in Benelux, France, Germany, North America, Scandinavia, British Isles (U.K. & Republic of Ireland), & other countries.
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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