Manutan International : Publication T1 2019/20 inférieure à notre attente – OC ajusté à 80 € (vs 84 €)
>CA T1 de 197 M€ en croissance de 2.3% (-0.9% lfl) - Manutan International a publié hier soir un CA T1 2019-2020 de 197 M€ en croissance de 2.3% inférieur à notre attente de 204 M€ (+5.9%e). La croissance affichée sur le trimestre inclut un effet périmètre de 3% (vs 3.4%e) lié à l’intégration de Kruizinga et un léger effet devise positif de +0.2%. La croissance organique s’élève donc à -0.9% (dont -1.1% d’effet jours) alors que nous attendions une croissance lfl de 2....The Manutan Group is a retailer whose focus is on the multichannel distribution market, providing supplies and equipment for a businesses and local authority customer base. Co. mainly markets its products and services in 19 countries throughout Europe where it has operations, Africa, Asia and in the Middle East. Co.'s product offerings comprise over 200,000 items, covering products required by businesses for their materials handling, lifting, storage, industrial supplies, safety, hygiene, packaging, office and workshop furniture, supplies and consumables needs, as well as furniture for hotels and restaurants, and educational, healthcare and sport materials for local authorities.
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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