Savencia SA : Decline in industrial product prices and the deterioration in the volume mix set to dent profitability in the first half
>Continued fall in dairy product prices in the context of lower global milk prices - Volumes at APL should be up slightly (+2.8%e in H1) underpinned by the recovery of Corman in Belgium and the resilience of the food service segment. The price of fats and protein products continues to fall whilst worldwide milk production is on a downtrend. China, the leading global player in milk products, is in a situation of under production and is weighing on global demand. A res...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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