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Elis : Strong increase in EBITDA margin in H1 (+125bp), 2018 guidance confirmed. Buy recommendation underpinned
>Sharp increase in interim results: EBITDA margin +125bp - Elis reported a sharp increase in its results for the first half with profitability topping expectations. In detail, we note: An 81.4% increase in sales to € 1533.9m, close to our forecasts (€ 1568.5m). Note that the l-f-l increase works out at 2.7%, in line with our forecasts (2.3% in Q2; +3.1% in Q1). Compared with the Q1 trends, our takeaways are as follows: 1/ An improvement in France with organic gro...
Underlying
Intelis AG
Provider
Oddo BHF
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.
Hela Zarrouk
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