Savencia SA : 9M 2024 sales slightly better than expected. Recovery in organic growth in Q3 driven by other dairy products
>Organic growth of 2.2% vs 1.5%e, implying a 5.1% increase (vs 2.9%e) in Q3. Activity continues to be driven by other dairy products - Savencia’s 9M sales were close to 1% above our forecasts at € 5,082m, while we had forecast € 5,032m. Sales were up 1.3% and forecast in a negative forex impact of 2.2% partly offset by a scope effect of 1.3% (integration of Williner since April 2023). In organic terms, sales were up 2.2%.vs 1.5%e and 0.8% in H1, implying orga...Savencia is a transformer of milk centered on cheese, dairy specialties, and on dairy ingredients. Co.'s operations are divided into two segments: the Cheese Products segment and the Other Dairy Products segment. In the Cheese Products segment, Co. manufactures and distributes cheeses and cheese specialties. In the Other Dairy Products segment, Co. manufactures and distributes modern butters and long-life creams both for final consumers and professional users, manufactures technical butters and specialized dairy proteins for industrial markets, and manufactures aseptically packaged products.
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