Alan Allman Associates : Mixed 2023 results (solid adjusted operating margin, fragile bottom line). Heading towards € 500m in revenue by 2025 but the low visibility for 2024 calls for caution
>2023 results: good adjusted operating margin but bottom line down - AAA posted its 2023 results yesterday. For sales (already published) of € 365.6m, up 14% including ~1% org according to our calculations, the adjusted operating profit (EBITDA equivalent) came to € 35.7m, slightly higher than our expectation (vs ODDO BHF € 34.9m). The adjusted operating margin thus came in at 9.8%, virtually stable y-o-y (-20bp), an honorable performance in a less favourable market c...Verneuil Finance SA Formerly known as Verneuil Participations. Verneuil Finance SA, formerly known as Verneuil Participations SA, is a France-based investment company. The Company acquires shares in companies operating in a number of sectors, including the wood, real estate hotel promotion food processing and the leisure sectors. The Group operates its businesses through Societe Francaise de Casinos and Financier Duc. Through Societe Francaise de Casinos the Company offers a number of services, such as slot machines, games, shows & entertainment and restaurant and private reservation services, among others. The Company reports the leisure sector as its main activity.
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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