Rothschild & Co : Fall in first-half earnings despite cost control
>Decline versus a very high H1 2018 and realistic guidance - The fall in H1 2019 net profit (-24%) is not really a surprise given the very high base of comparison in H1 2018. The trends suggested by Rothschild & Co for H2 are generally realistic in our view:Advisory: H2 revenues equal to those in H1, i.e. a fall of over -10% over the full year vs 2018. This would still put 2019 revenues at a high level.AWM: continuation of the commercial momentum but a nega...Rothschild & Co SCA is a holding company. Through its subsidiaries, Co. is engaged in banking activities and private equity. Co.'s banking activities include Investment Banking which comprises advisory services for mergers and acquisitions, advisory services for finance and restructuring, the primary equity capital market and the private placement of loans and shares; Corporate banking which comprises direct loans and structuring of financing packages; Private banking which comprises trust services, asset management and strategic planning; and Merchant Banking. Co.'s private equity activities involve investing in essentially medium-sized French companies, alongside a financial partner.
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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