Savencia SA : H1 2024 results broadly in line with expectations but underlying operating profit a shade below
>Organic growth in line at +0.8% buoyed by other dairy products. A 30bp deterioration in the underlying operating margin to 3% vs 3.3% est. - H1 sales published by Savencia yesterday were in line with our forecast at € 3,380m and more or less stable vs H1 2023. Organic growth was 0.8% in line and underpinned by the other dairy products division. The scope effect linked to the integration of Williner was 1.9% and the forex effect was -2.6%, primarily due to the devalua...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.