Jacquet Metal Service : 2019 earnings down sharply – persistently tough market conditions
>Full-year sales of € 1,615m (vs € 1,640m est.) / underlying operating profit of € 43m (vs € 46m est.) - For 2019, JMS yesterday evening reported full-year earnings close to our estimates. In pro forma data, business over the full year was down by 7.5% to € 1,615m, compared with our forecast of € 1,640m. This decline integrates a negative volume effect of -8% and a price effect of +0.5%. For Q4, sales were down by 10.9% (volume effect: -11.1%; price effect: +0.2%) to ...Jacquet Metal Services is a European distributor of specialty steels, also active in China and the U.S.A. Co.'s main activity consists of purchasing, storing, and delivering different families of products. Co. is active in four markets for the distribution of special steels through four brands: JACQUET (distribution of stainless steel thick "Quarto" plates); Stappert (distribution of long stainless steel products); Abraservice (distribution of wear-resistant "Quarto" plates); IMS group (distribution of engineering steels). Co.'s main consumer sectors are the following industries: chemical; agro foods; treatment and storage of gases; water treatment; environment and cleanup; and energy.
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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