Report
Jean-François Granjon

Quadient : Confirmation of the medium-term road map

>First half results slightly below our expectations - Revenues came to € 534m (€ 533.7m estimated) vs € 517m, up 3.2% and +0.8% on an organic basis with +1% in Q1 and +0.6% in Q2. EBITDA came to € 111m (€ 114.3m estimated, € 114m for the consensus) vs € 112m, down a slight 1.1%, giving an EBITDA margin of 20.8% (-80bp) due to a lower contribution from the Mail division. Since its CMD, the group has changed its reporting method and now factors in underlying operating p...
Underlying
Quadient SA

Neopost supplies mailroom equipment, offering products for franking, folding & inserting, addressing, address cleansing, tracking, tracing letters, parcels & the supply chain. Co. also offers various services, including consulting, maintenance, financial services & online service. Co.'s activities can be summed up to 2 segments: Mailroom Solutions & Communication & Shipping Solutions, divided into 9 operations: Automated mail opening, Management of incoming mail & traceability of important mail, Address printers, Automated insertion equipment, Intelligent franking, Financing solutions, Data quality, Customer Communication Management and Shipping Solutions, mainly in Europe & North America.

Provider
Oddo BHF
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.

Analysts
Jean-François Granjon

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