Viscofan : Q1 2024 EBITDA a touch below, earnings broadly in line
>Sales remain soft but lower costs save the day - The group’s Q1 operating results were a touch below our estimates yet aligned with the consensus (0% reported, +3%cc vs +6%cc in Q4), with sales evolving somewhat below expectations due to the soft demand in LatAm, lower energy revenues not to mention the hard comp (+17% in Q1 23!). All regions but Asia-Pacific deteriorated its sales momentum in the quarter, as expected. At the business level, energy the biggest shock ...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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