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Progroup AG : We like Progroup, but we prefer to wait before becoming more bullish
2019 performance came out below the record year 2018 as price normalisation resulted in a decline in group revenue by 8% to € 886.7m (FY 18: € 966.1m) and a decline in Adjusted EBITDA (which reflects Progroup’s reported EBITDA, albeit the latter excludes smaller extraordinary items, hence we name it Adjusted EBITDA) by 19% to € 223.2m (FY 18: € 275.5m). Corrugated board volumes rose by 7% to 1,232 kt (2018: 1,151 kt) and externally sold containerboard volumes declined by 22% to 1...
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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.
Markus Schmitt
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