Savencia SA : Robust Q1 2021 numbers but limited visibility, particularly on H2
>Robust Q1 2021 driven by strong volume mix - Q1 organic growth of 5.6% reflects a strong volume mix effect of 5% and a price effect of 0.6%. The volume mix component from cheese products of 5.8% was underpinned by good momentum in retail for the majority of European markets and Asia while sales in Brazil were hurt by the health situation and the impact on volumes from price hikes for retailers. Food service has picked up some markets, particularly thanks to the fast...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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