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Metro AG : Situation seems to be under control in Russia, Neutral vs Reduce
>Q3 2017-18 results: broadly in line, but with stronger-than-expected performances from Russia - Q3 consolidated sales: € 8,996m, -3.7% reported and -0.5% LFL, slightly ahead of our LFL expectations of -0.9%. The contraction on an organic basis was -0.9% due to a negative calendar effect estimated at -1.7% of which -1% est. for C&C and -5%e for Real hypermarkets.LFL for C&C (+1% to Q3 vs +1.2% in H1) was ahead of our estimate of +0.2% due to a less marked-than-ex...
Underlying
Metro AG ADS
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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.
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