Report
Jean-François Granjon

Mersen : Calm and confident – 2025 roadmap confirmed

>Excellent first half and ongoing momentum - Based on organic growth in H1 of +11.1%, the group in the end reported a better-than-expected performance with the underlying operating margin improving by 90bp to 10.5%. These performances reflect a significant volume effect (hence good operating leverage) and also good pricing power (Mersen is a benchmark with its main clients) offsetting inflationary effects, the costs of expanding on new markets (for the EV activities a...
Underlying
Mersen SA

Mersen produces materials and electrical components intended for alternative energies, chemicals and pharmaceuticals, rail transportation, electronics and process industries. Co. divides its operations into two segments: Advanced Materials and Technologies (AMT - Materials), and Electrical Components and Technologies (ECT - Electrical). In addition, Co. produces four types of products: Electrical Applications, Electrical Protection, High-Temperature Applications, and Anticorrosion Equipment. Co. also caters to the process industries, supporting their transition towards greater energy efficiency and boasts an efficient manufacturing base with plants employing the very latest technologies.

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
Jean-François Granjon

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