Report
Nicolas Thorez

Alan Allman Associates : Résultats 2023 mitigés (MOA solide, bottom-line fragile). Cap vers 500 M€ de revenus d’ici 2025 mais la faible visibilité sur 2024 incite à la prudence

>Résultats 2023 : bonne tenue de la MOA mais bottom-line en baisse - AAA a dévoilé hier ses résultats 2023. Pour un CA (déjà publié) de 365.6 M€, en croissance de 14% dont ~1% org d’après nos calculs, le ROA (équivalent EBITDA) ressort à 35.7 M€, légèrement supérieur à notre attente (vs ODDO BHF 34.9 M€). La MOA s’affiche ainsi à 9.8%, quasiment stable y-o-y (-20 pb), une performance honorable dans un contexte de marché moins favorable. Cela tient, selon nous, au posi...
Underlying
Verneuil Participations

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.

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
Nicolas Thorez

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