Fagron N.V. : More confident on manageability of European competition
>COVID-impact more severe than anticipated - Fagron came in with a weak 1Q21 trading update, driven by fierce COVID-headwinds (most notably EMEA) and weak FX (Latin and North America). We trim our FY21 REBITDA estimates by some ~2% in order to reflect both the Q1 2021 trading update and anticipated continued COVID-headwinds in 2Q21. We leave our FY22/23 estimates largely unchanged.We see impact from increased Benelux competition as limited - When zoom...Fagron supplies products, services to professionals and institutions in the healthcare sector in Europe, the U.S.A. and Brazil. Co.'s activities are subdivided into four divisions. Through Fagron, Co. offers products and concepts for pharmaceutical compounding. Through Arseus Dental, Co. supplies dental products and concepts to dentists and dental laboratories in Belgium, the Netherlands, France, Germany and Switzerland. Through Arseus Medical, Co. supplies medical and surgical products to specialists, elderly homes, homecare nurses and hospitals in Belgium and the Netherlands. Through Corilus, Co. supplies ICT total solutions for medical specialists in Belgium, the Netherlands and France.
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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