LDC : Another strong Q3 driven by price revaluations. Margin guidance revised to above 4.5%
>Organic growth of 17.5% vs 15.9%e, of which 24.3% the mix effect - Q3 2022-23 sales were a shade above our forecast at € 1,491.7m (vs € 1,482.8m est.), i.e. a 17.4% increase with organic growth of 17.5% vs 15.9% anticipated. The difference with our estimate essentially stems from a better mix effect, specifically at the poultry France division. Volumes were down 6.8% vs -4.9%e.Trends by division were:Poultry France (74% of sales, 68% of EBIT): Sales up 14.7...Societe LDC SA is a France-based holding company engaged in food processing. The Group provides poultry products, as well as a range of delicatessen food. It has four business lines: Upstream division, which is responsible for branch management; Poultry division, engaged in the poultry, pig and cattle farming, as well as egg production and others; The Delicatessen division, offering ready-to-eat meals and snacks like pizzas, sandwiches, tarts and desserts and International division which focuses on international development with countries specific strategies. It markets its products under various brands, including Le Gaulois, Loue and Traditions d'Asie.
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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