Savencia SA : Q1 2020 better than expected thanks to the good resilience of other dairy products
>Organic growth of +3.2% with +4.9% for cheese products and +1.3% for other dairy products - Savencia reported its Q1 sales yesterday. Sales came in much higher than we expected at € 1,220m vs € 1,151m. Organic growth was 3.2%, much higher than our forecast of -2.5%, despite the fact that the group suffered the consequences of the public health crisis in its food services business right from the time it first emerged in China. Note that China accounts for 10% of the g...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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