Glanbia : An improvement in organic growth and significant EBITDA margin growth expected in H1
>An upturn in organic growth should be confirmed in Q2 - Glanbia is set to report its interim results on 14 August before trading. We think that H1 organic growth should improve at -1.5% compared to the -5.4% posted in Q1. This reflects an increase estimated at 2.4%e in Q2. It should be underpinned by a continuing upturn in volumes for GPN (+3.3%e vs +1.4% in Q1), as prices should once again be negative by 3%, reflecting the decline in raw materials prices and the upt...Glanbia is a performance nutrition and ingredients group, engaged in providing performance nutrition, cheese, dairy ingredients, specialty non-dairy ingredients and vitamin and mineral premixes. Co. segments include: Global Performance Nutrition, which is involved in the branded performance nutrition business; Global Ingredients, which manufactures cheddar cheese, provides dairy and non-dairy nutritional ingredients and micro-nutrient premixes; Dairy Ireland, which is engaged in the manufacture and sale of a range of consumer products and farm inputs; and Joint Ventures & Associates, which is engaged in the manufacture and sale of cheese, dairy ingredients and dairy consumer products.
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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