Greenyard NV : TP raised and Outperform reiterated on consistent H1 2022 performance
>Underlying sales growth and EBITDA ahead of forecasts in H1 2022 - Group underlying sales growth amounted to 1.8% (mainly volume growth), which was ahead of our forecast. The Fresh segment reported 1.4% underlying sales growth and in Long Fresh, growth amounted to 4.0%. However, reported sales came in below our forecast due to the previously undisclosed deconsolidation impact of € 59m, though this had a very limited impact on EBITDA. Adjusted EBITDA came in at € 82.6...Greenyard processes and commercializes fruits, vegetables, and ready-to eat food products in France, the United kingdom, Germany, Belgium, other EU-countries, and internationally. Co.'s operation is divided into two divisions: The frozen division known as Pinguin and the canning division under the name of Noliko. The Frozen division offers frozen vegetables and fruits, deep-frozen vegetable dishes, and ready-to-use meals to retail, food service, and food industry. The Canning division processes vegetables and fruit from the field into preserved foods in cans and jars. The division also prepares ready-to-eat food such as soups, sauces, dips and pasta dishes.
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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