Sligro Food Group N.V. : Close to all-time low valuation; TP fine-tuned to € 22; Outperform reiterated
>Reconfirmation of strong recovery in sales in 2022 - Similar to Q2 2022, we expect sales in Q3 2022 to index above acquisition-adjusted pre-COVID-19 quarterly sales in Q3 2019. Moreover, Q4 2022 compares with a quarter last year during which there still were lockdowns. Hence, we remain confident about our sales forecast for Sligro in 2022, and with two quarters to report on left in 2022, we conclude that Bloomberg consensus for Sligro’s 2022 sales appears at least € ...Sligro Food Group NV is a company engaged in the food distribution industry, based in the Netherlands. It divides its business into two segments: Food Retail activities comprise around 130 full-service EMTE supermarkets with 30 operated by independent retailers; Food Service offers nationwide network of cash and carry and delivery service outlets serving large and small-scale hospitality, establishments, leisure facilities, volume users, company and other caterers, forecourt retailers, small and medium-sized enterprises, smaller retail businesses and the institutional market. The Company serves the institutional market trading under the name Van Hoeckel and the other segments of the market as Sligro. The Company's subsidiaries include CaterTechBV and Bejaco NV, including its subsidiaries JAVA BVBA and Freshtrans BVBA, jointly known as JAVA Foodservice.
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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