Rothschild & Co : Solid H1 2018 results
>Buy recommendation confirmed - Rothschild has reported H1 2018 NBI of € 1bn, up 12% with a good contribution from all businesses. Thanks to a tight rein on expenses, operating profit came to € 261m, up 20% and 11%, adjusted for one-off items. Ultimately, net profit came in at € 161m, up 66% y-o-y, but excluding the integration charges of MM, it works out at € 164m, up 56%. These favourable results back up our positive recommendation on the stock. We think that the gr...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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