Viscofan : Q1 EBITDA in line. Margin pressure remains
>Price increases, mix improvement and volume growth cannot offset for now the cost inflation. Even so, Viscofan delivers a 20% EBITDA margin - Viscofan’s Q1 operating results broadly in line with our estimates and the consensus, with sales growing a touch above expected (+17%, +16% cc vs +27%, +20%cc Q4 2022 and +23% and +15%cc in Q3 2022) which helped the company partially offset the growing cost inflation and deliver a gross margin improving 2pp q-o-q which however ...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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