Eurogerm : 2020 results below our forecasts. Net profit penalised by forex losses
>Organic growth of 4.3% vs 4.6%e and a 50bp improvement in the margin to 8.3%, but a sharp 22% decline in net profit driven by forex losses - 2020 sales were € 113.4m, down 2.2% and close to 3% below our forecast of € 117m due to the forex effect. Organic growth was 4.3% vs 4.6% forecast and 4.2% reported in H1. A better performance from activities in France with organic growth stable in 2020 vs a decline of 3.6% in H1. International activities reported a slight decli...Eurogerm SA is a France-based company specializing in manufacture and marketing of flour correctors, bread-making improvers, technological aids and nutritional cereal ingredients. It offers a range of enzymatic preparations, technical glutens adapted to bakery applications, mix and premixes for gluten free products, ingredients with omega-3 fatty acids, mix and premixes intended to reduce the salt intake of bread-making products and others, as well as related services. The Company has two production sites, Saint Apollinaire and Quetigny in France. The Company has such subsidiaries as Eurogerm Leag, Eurogerm Maroc, Problend-Eurogerm, Eurogerm Andina and Eurogerm Mexico, engaged in production and commercialization activities and Processus Alimentos Industria e Comercio LTDA EPP in Brazil, among others. The Company operates in countries like France, The United States, Algeria and Brazil, among others.
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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