Sligro : Upgrade to Outperform as recovery pace clearly accelerates
>Operating results significantly ahead of expectations in 2021 - With sales having already been reported on 5 January, last Thursday’s update by Sligro showed solid gross profit, EBIT(DA) and net profit in 2021, implying that the pace of recovery is faster than we had anticipated. We were particularly positively surprised by the gross profit margin of 26.3% in 2021, and management appears dedicated to holding on to as much of the improvement as possible in 2022. Despi...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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