Fnac Darty : H1 2018 results lower than estimated overall. Guidance maintained
>Q2 2018 sales down 1.7%lfl, 3% below our estimates. H1 2018 EBIT at € 46m (o/w € 20m in additional synergies). - Fnac Darty has reported H1 2018 results generally below forecasts. Q2 2018 sales were down 1.7% lfl at € 1.513bn, or 3% below our forecast in absolute terms and also lower in organic terms (vs. Oddo at +1%lfl). The group was particularly affected by social movements and a difficult consumer backdrop in France. Excellent momentum in TV sales thanks to th...Fnac Darty is engaged in the leisure and entertainment, technology, and household appliances retail market in France and a player on markets in other countries where it operates such as Spain, Portugal, Belgium, the Netherlands and Switzerland. Fnac Darty also has franchise operations in Morocco, Qatar and Ivory Coast.
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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