Viscofan : Q3 preview: exiting destocking more slowly
>Operating momentum improving… - The company is due to report its Q3 2023 results on 23 October before the market opens. We expect total sales to grow 2% y-o-y to € 304m (vs -5% in Q2 and -6% in Q1) with some momentum improvement as the destocking seen in previous quarters starts to fade. At the EBITDA level, we expect a y-o-y improvement of +13% to € 71m (vs +4% in Q2), materially better than the top-line trend as raw material/energy deflation starts to surface, offs...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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