Sequana : Mixed outlook and waiting for the outcome of the BAT litigation - Target price lowered to € 0.35 (vs € 0.5)
>H1 sales of € 1,197m and H1 underlying operating profit of € 22.3m - Yesterday morning, Sequana published its interim results with sales down 2.1% to € 1,197m. H1 EBITDA was € 32.7m (-15.1%), whilst underlying operating profit was down sharply to € 22.3m (-24.9%), i.e. an underlying operating margin of 1.9% (vs 2.4% in H1 2017) still impacted by the increase in the price of raw materials (paper pulp). The group posted an attributable net loss of -€ 71.4m (vs € 2.7m i...Sequana. Sequana SA, formerly known as Sequana Capital, is a France-based holding company. The Company's main business activity is paper manufacturing and distribution of paper and packaging products. Sequana SA has two principal wholly owned subsidiaries: Arjowiggins, which manufactures technical papers for image enhancement and protection, and Antalis, which distributes paper for printing, office use, as well as both packaging and visual communications sector. The Company has operations in France, the United Kingdom, Finland, Poland, Ireland, Belgium, Denmark, Hungary, Argentina, Brazil, Australia, China and Botswana, among others. As of August 31, 2014, Bpifrance Participations held a 19.68% stake and Exor SA a 17.03% stake in the Company's shareholdings.
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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