STEF : Q1 2020 sales slightly below our forecasts, hit by lockdown measures in Europe
>Q1 sales slightly down by 1.1% to € 793.4m (vs € 813m est.) - STEF reported yesterday evening Q1 sales of € 793.4m, slightly below our estimate of € 813m. Sales fell by 1.1% (vs. +1.3% est.). Excluding the scope effect linked to STEF Raalte and DYAD (+0.4%), the organic decline was -1.5% (vs. +1% est.).The resilience of the GMS business partly offset the decline in other businesses (notably RHD, Seafood and Maritime) - Q1 sales were mixed: they grew ...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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