Viscofan : Q2 2022 results better than expected. Guidance confirmed
>Q2 2022 operating results above consensus expectations - Sales increased +29% y-o-y in Q2 2022 (vs +15% in Q1) reaching € 305m, 12% above our estimates and 18% above the consensus, with organic growth excl. forex at +20% (vs +10% in Q1) as the company implemented price increases to offset cost inflation, and forex also adding +8pp. Casings sales increased +24% to € 281m (vs +13% in Q1), of which sales of new businesses reached € 37m (13% of casings sales) and were t...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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