Report
Nicolas Thorez

Alan Allman Associates : Résultats conformes, T1 très solide. 1ère bougie de luxe, mais rating abaissé

>Résultats 2021 en ligne, trajectoire respectée sur la rentabilité (+60 pb) - AAA a dévoilé hier soir des résultats 2021 parfaitement en ligne avec nos attentes. Pour un CA (déjà publié) de 188.3 M€ (+34% dont +21%e org), le ROA (équivalent à l’EBITDA) ressort à 17.2 M€ (vs ODDO BHF 17.4 M€). La marge s’affiche ainsi à 9.2%, en amélioration de 60pb, conforme à la volonté d’AAA d’améliorer sa marge de 50pb/an. Ceci implique une MOA <9% au S2 (effet dilutif M&A). Par zo...
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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