Savencia SA : The recovery in profitability for the cheese products business helps to mitigate the downturn in profitability for other dairy products in H2 2023
>The underlying operating margin is down just 10bp at 3% in H2 thanks to the sharp improvement in profitability for cheese products (+300bp at 4.1%) - From a company contact following the 2023 earnings publication and prior to the annual financial meeting on 20 March, we retain the following additional elements:The growth in the 2023 underlying operating margin for the cheese products activity of € 46m to € 127.6m, reflected in 100bp margin growth at 3.1%, can b...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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