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Mr.Bricolage : Strong margin deterioration in H1 – target price lowered to € 13 (vs. € 14)
>H1 sales: -10.0% to € 242.6m (vs. € 245.8m est.), underlying operating profit down sharply to € 2.6m (vs. € 8.4m est.) - Mr. Bricolage yesterday evening announced its H1 results (the company does not give quarterly earnings reports), which fell short of our forecasts. As expected, sales showed a decline of 10.0% to € 242.6m (vs -8.9%e and € 245.8m est.), affected by the fall for integrated stores (-20.8%), which was not offset by growth in sales to the network (+8.6%...
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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.
Jeremy Garnier
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