STEF : 2019 results in line with our expectations
>Operating profit of € 162.9m (vs € 164.0m estimated), operating margin of 4.7% - For FY 2019, STEF has reported results that are broadly in line with our forecasts. For sales (already reported) up by 5.7% to € 3,441.0m, operating profit rose by 18.7% to € 162.9m (vs € 164.0m estimated), i.e. an operating margin of 4.7%, up 50bp (vs 4.8% estimated; +60bp). Attributable net profit was up 6.2% to € 100.3m (vs € 99.6m estimated). Management announced that a dividend of €...STEF-TFE is a provider of transport and logistic services for food products requiring specific temperature control within Europe. Co. divides its operation into four segments: Transport in France (transportation of fresh and frozen products, transportation of seafood and organization of international transport activities); Logistics in France or STEF Logistique (logistics for fresh and frozen products for industrial players, mass retail and the food-service industry); STEF International (international activities in Spain, Portugal, Italy, Benelux, Switerland and U.K.); and Maritime activities (maritime services, passengers and freight, and maritime brokerage).
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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