Groupe Gorgé : H1 2019 confirms group strategy – Buy recommendation maintained
>Feedback on solid H1 2019 results - Groupe Gorgé on Wednesday reported growth in earnings for the first half which is historically a much smaller contributor than the second. EBITDA advanced by € 9m (with € 2.9m of IFRS 16 impact) to € 14.3m, i.e. a margin of 10.6 % (vs 4.3% in H1 2018). EBIT also showed growth at € 2.6m (vs -€ 1.9m), despite being impacted by € 2.7m one-off items (mainly due to restructuring expense for the 3 divisions). Net profit came in at -€ 2.1...Groupe Gorge is a holding company engaged in three areas of operation: Smart Safety Systems (develops Smart Safety Systems designed to operate in hostile and constrained environments for civil and defense sectors); Protection in Nuclear Environments (protection solutions in nuclear environments: shielding by partition systems in nuclear power stations & protection against radiation for staff working in nuclear environments); and Industrial Project Services (industrial projects and maintenance, creating production tools and turnkey operation areas, projects and services in industrial robotics, iron works, automation, 3D printer offerings, electricity and fire fighting 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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