Report
Jeremy Garnier

Manutan International : Very good Q1 2020/2021 which beat our expectations

>Q1 sales of € 212.1m, up 7.7% (+8.4% l-f-l) - Manutan International yesterday evening reported Q1 sales of € 212.1m, well above our forecast of € 197m (stable). The group therefore reported Q1 growth of 7.7% including a forex effect of -0.7% and organic growth of 8.4% aided by a positive working days effect (+1%).Homogeneous growth in all regions - At the enterprise division (75% of sales), growth was robust in all geographic regions ranging from +4...
Underlying
Manutan International SA

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.

Provider
Oddo BHF
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.

Analysts
Jeremy Garnier

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