Jacquet Metal Service : Feedback from the road show in Frankfurt: Cautiously optimistic – target price cut to € 25 (vs € 30)
>Recap of good 2018 earnings - The group published excellent 2018 results with EBITDA of € 112m for sales of € 1,865m (+7.1%, of which +7.4% price effect) i.e. a margin of 6%. Sales were marked by a broadly positive price effect at all activities but Q4 began a sequential q-o-q decline (-1.6%) which is set to continue over the early part of the year. With regards to volumes, growth was driven by the Jacquet Abraservice (+2.6%) and Stappert (+2.3%) businesses, whereas ...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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