Report
Fatma Agnès Hamdani

Eurogerm : Résultats 2020 en dessous de nos attentes. Résultat net pénalisé par les pertes de change

>Une croissance organique de 4.3% vs 4.6%e et une marge en hausse de 50 pb à8.3% mais chute du RN de 22% plombé par des pertes de change - Le CA 2020 s’élève à 113.4 M€, en baisse de 2.2% et près de 3% en dessus de notre prévision de 117 M€ en raison des changes. La croissance organique ressort à 4.3% vs 4.6% anticipés et 4.2% affichés au S1. Meilleure performance de la France au S2 qui affiche une croissance organique stable sur 2020 vs un retrait de 3.6% sur le S1. ...
Underlying
Eurogerm SA

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.

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
Fatma Agnès Hamdani

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