Savencia SA : Continuing H1 trends in H2 with profitability expected to improve
>Margin improvement in H1 of close to 130bp for cheese product division - Flat organic growth in the cheese product division in H1 (+0.2%) reflects a slightly negative volume mix (-0.4%e) and positive price mix. Volumes in H1 were underpinned by good sales momentum, particularly in LATAM and a degree of resilience in some western European countries despite anaemic consumption geared more towards private labels and discount prices which seems to have taken more of a to...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.
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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