Savencia SA : The economics of the milk industry have become more favourable. Buy recommendation confirmed with a target price of € 73
>Confirmation that milk raw materials prices were more advantageous in H2 - Our main takeaways from recent contact with the company are as follows:Overall, milk prices in 2018 were equivalent to those in 2017. Inflation in H1 (+5%) lessened in H2, particularly in Q4. The fall in fats prices accelerated in Q4, which augurs well for margins in other dairy products (creams) in 2019, in particular in H1.In 2018, powdered skimmed milk prices increased by ne...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.