Jacquet Metal Service : Strong fall in H1 earnings – outlook still uncertain
>H1 sales of € 726m (vs € 756m est.) down 17.9% / Underlying operating result of -€ 3m - Yesterday evening JMS reported H1 results that came in slightly below our estimates. Sales came to € 726m (vs € 756m est.), down 17.9% y-o-y, with a volume effect of -16.8% and a price effect of -1.1%. The H1 underlying operating result was slightly negative at -€ 3m (vs € 2m est.). The net result came to -€ 15m (vs -€ 6m est.). Volumes down across all divisions - No...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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