Novem : Difficult market environment making FY 2023-24 a year of transition
>Q1 2023-24 results show a mixed picture - Novem’s Q1 2023-24 reported group sales are -4% y-o-y to € 175m, which is clearly below our expectation at € 193m. The company blamed challenging trading conditions with volatile call-offs leading to low volumes, especially in Europe. Geographically, sales declined in Europe (-4% y-o-y) and Asia (-22%), while the Americas are up by 4% y-o-y. Sales in Series are flat y-o-y at € 151m, but sales in Tooling declined by 19% y-o-y ...
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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