Oddo BHF - Fives (Novafives) : Deleveraging could take time

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Oddo BHF

Fives (Novafives) : Deleveraging could take time

Impacted by the coronavirus crisis, Fives' results deteriorated in H1 2020 due to a slower progress of contracts and a contraction in order intake. While an improvement could be seen in Q3 2020, the resurgence of the health crisis in Q4 in Europe will encourage Fives' customers to remain cautious in their investments. In this context, we believe that the recovery in operating performance in 2021 should not be sufficient to enable Fives to significantly improve its credit metrics....

09/11/2020 15 EN

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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.

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Fives (Novafives) : Deleveraging could take time

Macro hot spots: a mid-year review

Points chauds macro : une revue de mi-année

Vulcan Energy : Vulcan: Europe’s 1st carbon-neutral integrated lithium play – high risk, high return

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