Report
Jean-François Granjon

Vilmorin & Cie : More resilient business, a stock to be rediscovered, target price lifted to € 55 from € 52, added to our Midcap Convictions list

>Seeds: a strategic activity - Recap on a stellar Q3: the quarter was marked by strong sales, putting the group ahead of its pre-COVID-19 targets. Organic growth stood at 5.6%, of which 5.3% for field crop seeds and 8.2% for vegetable seeds. This includes a remarkable performance in March with over 15% in growth for each of the two units. This atypical growth, which should not be extrapolated, reflects a catch-up effect (particularly for field crop seeds, up 4.2% in 9...
Underlying
Vilmorin & Cie SA

Vilmorin & Cie SA is engaged in the production, marketing and sale of vegetable and crop seeds for agricultural production and market gardeners. The Vegetable seeds division is involved in the production and sale of vegetable seeds under the brand names, such as Hazera-Nickerson, Vilmorin SA, HM.Clause and Mikado Kyowa Seed, among others, intended for the professional food market, including market gardeners, processors, and specialists in canning, specialists in deep-freezing and freeze-drying. The Field Seeds division is focused on field seeds, including corn, straw cereals, grape and sunflower seeds for European and American clients. The Garden Products division is structured around two companies, Vilmorin Jardin and Suttons. In March 15, 2013, it acquired the Bisco Bio Sciences of India. In October 2013, it announced that it has recently taken over Shamrock. In November 2013, it acquired Eureka Seeds Inc. In March 2014, it acquired Seed Asia based in Bangkok.

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
Jean-François Granjon

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