Unilever Nv : Mixed reaction expected: a poor Q2 even after restating the Brazil effect. But operating margin and EPS better (+7.8% vs +4.7% consensus)
>Market impact: uncertain - As is usual in the sector, the market’s reaction depends on changes to the EPS consensus. But this is difficult to predict after a first analysis. Underlying diluted EPS rose by +7.8% in H1, which is 3 points higher than expected. But it is difficult at this stage to determine what was behind this improved performance. In any case, there is more to it than the sales figure (in line), the tax rate (higher than expected) and the 80bp increase...Unilever is engaged in the supply of consumer goods in foods, household care and personal products. Co.'s activities are carried out through four categories: Personal Care, sales of skin care and hair care products, deodorants and oral care products; Home Care, sales of home care products, such as powders, liquids and capsules, soap bars and a range of cleaning products; Foods, sales of soups, bouillons, sauces, snacks, mayonnaise, salad dressings, margarines and spreads; and Refreshment, sales of ice cream and tea-based beverages. Co.'s products are sold in over 190 countries around the world.
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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