FFP : 2020 NAV: € 179.5, back to 2019 levels, discount still very high (50% to our spot NAV). Recommendation and target price unchanged
>V-shaped trajectory for NAV over the year - FFP this morning reported a NAV of € 179.6 per share, stable vs last year and up 26% vs H1 2020:The listed part of NAV, the largest share value-wise (€ 154.2), grew +5% over the full year, thanks in particular to the good run for Stellantis and despite the disposals (SEB 1% last summer and Safran at the end of the year, though settlement was not carried out until 2021). Note also that at the end of 2020, the group had ...Societe Fonciere, Financiere ACT is an investment holding company which acts as a long-term investor and an active shareholder. As of Dec 31 2010, Co. held 22.1% of the share capital of PSA Peugeot Citroen. Co. usually purchases minority stakes in companies with a large family shareholding. Co. has a portfolio of private equity funds which operate mainly in Europe and countries with emerging economies. Co. also operates a financial investment and cash management business, as well as a real estate and wine-producing businesses.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.