Report
Jeremy Garnier

TFF Group : Résultats 2017-18 légèrement inférieurs à notre attente mais objectifs 2020 maintenus – TP ajusté à 46€ (vs. 48€)

>CA 2017-18 de 245.2 M€ (+7.6%) et Roc de 48 M€ (+5%) - TFF Group a publié hier soir ses résultats annuels 2017-18 (clos à fin avril) qui ressortent légèrement inférieurs à nos attentes : CA : 245.2 M€ (vs. 250 M€e) en croissance de 7.6%. Après un CA 9 mois en hausse de 10.9% à 186.4 M€, marqué par un excellent S1 et un T3 plus mitigé (impact négatif du gel printanier sur le pôle Vin + effet devise très défavorable), le CA T4 ressort à 58.8 M€ (vs. 63.7 M€e).§rch...
Underlying
TFF Group

Tonnellerie Francois Freres S.A.. TFF Group, formerly Tonnellerie Francois Freres SA, is a France-based company that manufactures and distributes oak barrels that are used to conserve and transport liquids. The Company has four core businesses: stave milling, cooperage, cask manufacturing and oak wine-aging products. Tonnellerie Francois Freres SA also offers oak products for oenology, where the wine is put in contact with wood in varied forms, and has developed products for the alcohol maturing and aging market, especially the whisky market. The Company offers four brands of barrels: Exclusif, Privilege, Classique and Horizon. As of December 31, 2011, Tonnellerie Francois Freres SA operated through its subsidiaries, including: Sogibois, Bouyoud, Treuil, Francois Inc, Classic Oak New Zealand, Demptos Napa, among others. The Company has operating units in France, the United States, Spain, Hungary, South Africa, China, New Zealand, Australia and Ireland. In May 2016, the Company acquired metal manufacturer SAS Lejeune.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Jeremy Garnier

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