Viscofan : Q1 2022 results fully in line. Further price increases to achieve 2022 guidance
>Q1 2022 operating results in line with expectations - Group sales increased +15% y-o-y in Q1 2022 (vs +7% in Q4 2021) to € 263m, in line with our estimates and 5% above the consensus), with organic growth excl. forex at +10% (vs +4.1% in Q4 2021) as the company implemented price increases to offset cost inflation and forex also adding +5pp to growth. The casings business reported sales increasing by +13% to € 246m (+7% l-f-l growth) of which sales of new products re...Viscofan is the parent company of the Viscofan Group. Co. is divided into two major operational subgroups. The companies comprising the Naturin GmbH subgroup are engaged in the manufacture and distribution of artificial casings (small and big diameter collagen and plastics) for the meat industry. Through its wholly-owned subsidiary IAN, S.A., Co. also manufactures and distributes canned vegetables (asparagus, olives and tomato).
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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