Savencia SA : The Q3 trends should continue in Q4, but the comparison base should be more demanding for other dairy products
>The price effects offset the decline in the volume mix for cheese products - The stability in sales for cheese products in 9M reflects a volume decline of around 1% (-1.7% in Q3 on our calculations) which is offset by the tariff hikes obtained during the period for most markets. The volume decline in due mainly to Europe (decline at a low figure) while volumes are growing in other regions such as the Americans and Asia excluding China. In Europe, the decline in consu...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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