Maisons du Monde : Reprise de couverture à l’Achat
Nous reprenons la couverture de Maisons du Monde, qui avait été arrêtée à la suite du remboursement de l’obligation HY consécutivement à l’IPO en 2016. Le groupe a émis une OCEANE de 200 m EUR de maturité 2023 en décembre 2017 afin de refinancer la grande majorité de son emprunt bancaire MT (250 m EUR). Nous adoptons un avis crédit stable et une recommandation à l’Achat sur cette souche. - >Facteurs de soutien - - Positionnement original et différenciant comparé aux au...Maisons du Monde offers a range of decoration and furnishing items in a variety of styles and themes. At end-2016, Co. operated a network of 288 stores in seven countries, France, Italy, Spain, Belgium, Luxembourg, Germany, and Switzerland. It also operates an e-commerce platform available in 11 countries. Co.'s product offering contains approximately 16,000 stock-keeping units available in a range of prices. The offer falls into two categories: decorative products, such as household textiles, tableware and kitchenware, mirrors and picture; and furniture, such as beds, tables, chairs, armchairs and sofas, cupboards, bookshelves, junior furniture and outdoor furniture.
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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