Novem : A weak start to FY-24/25 and persistent muted prospects
>A soft start in Q1-24/25 as expected - Novem’s Q1-24/25 reported Group sales are -20% YOY to € 140m (in-line with ODDO BHF) in a weak market environment with lackluster demand in the automotive sector with Europe standing out. Revenues in Series are -21% YOY to € 120m in Q2-24, suffering from an overall weak customer demand and volatile call-offs. Sales in Tooling are -16% YOY to € 20m in the quarter under review. Regionally, the sales decline is driven by Europe (-4...
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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