Henkel : CMD : derrière la construction de la division Consumer, il y a une vision qui a un peu plus de sens que ce que nous pensions
>Un CMD un peu plus convaincant que prévu - Neutre maintenu avec un OC de 67 €. Le PE 2023e de 15x reflète correctement le double statut de valeur hybride d’un groupe partagé entre d’un côté une division industrielle (adhésifs) et une division Consumer et de l’autre entre deux batailles stratégiques au sein du Consumer, à savoir le Home Care et le Beauty. Cette dispersion stratégique freine, selon nous, la construction d’une empreinte opérationnelle plus profonde (et ...Henkel business comprised of Laundry & Home Care, Beauty Care, and Adhesive Technologies. Co.'s Laundry & Home Care business unit include laundry and home care Branded Consumer Goods business. The Laundry Care business includes heavy-duty and specialty detergents, fabric softeners, laundry performance enhancers, and other fabric care products. Co.'s Beauty Care business unit is active in the Branded Consumer Goods business with Hair Cosmetics, Body Care, Skin Care, Oral Care, and professional Hair Salon business. Co.'s Adhesive Technologies business unit provides solutions with adhesives, sealants and functional coatings in two business areas: Industry; and Consumer, Craftsmen and Building.
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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