Sligro Food Group N.V. : Strong growth in sales and costs in H1 2022; TP and Outperform reiterated
>Sales beat our forecast by almost € 100m in Q2 2022 - Sligro reported sales of € 1,129m in H1 2022, beating our forecast by about € 90m. Sligro’s sales surpassed the pre-COVID levels in Q2 2022, and we had expected this milestone to be reached no sooner than in Q4 2022. Food inflation (c.7%) contributed to this strong growth, but Sligro made clear that market volume growth was significant as well. Both the Netherlands and Belgium outperformed our expectations, with a...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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