Fluidra : Narrowed 2023 guidance caps upside but removes downside risk
>Firm operating margin despite top-line weakness - Fluidra’s Q2 2023 results were broadly in line with our estimates with slightly lower-than-expected sales (unfavourable weather, macroeconomic backdrop) being offset by firmer operating margins allowing a slight beat in reported EBITDA figures (+5.7% above our estimates). Adjusted EBITDA stood at € 288m in H1 2023 and is well positioned to meet the revised group’s guidance for FY 2023 (€ 410 to € 450m vs € 410m to € 4...Fluidra is engaged in the manufacture and commercialization of accessories and specific products for swimming pools, irrigation, and water treatment and purification systems.
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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