Lucas Bols : Leverage progressively improving following continued focus on cash
>1H21/22 recap: strong top line and solid cash generation - Lucas Bols printed a good set of 1H21/22 results versus our estimates (no consensus available), mainly on sales and cash generation. Bottom line, we argue that H1 revealed that Lucas Bols is placing the right emphasis on 1) the top line (investments in brands as well as product availability boosted sales), 2) trimming costs (opex savings boosted EBIT), and 3) preserving cash (resulting in further delevering)....Lucas Bols NV manages the product development, bottling, distribution, sales and marketing of the brands Bols, Galliano, Vaccari, Damrak Gin, Pisang Ambon, Bokma, Hartevelt, Coebergh, PassoAPS and a large group of Dutch jenevers and liqueurs. Co.'s objective is to strengthen and grow its global brands in the international cocktail market while maintaining the competitiveness of its regional brands in regional and local markets.
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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