Report
Kantar : Encouraging signs on preserving cash and margins
The group's business was strongly affected by the covid pandemic during the strict lockdown in Q2 2020 (organic decline in pro-forma sales of -21% after -2% in Q1) and in particular the custom activities (postponement of projects and inability to carry on studies requiring face-to-face meetings), while the syndicated activities (33% of sales) demonstrated their resilience in this context. We believe that net leverage should deteriorate (to 6.3x in 2020 vs. 5.5x at the end of 2019...
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.
Pierre François Merveille
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