Viscofan : Solid Q2 2021 figures with better-than-expected sales more than offsetting higher costs
>Q2 2021 sales +6% (4% above estimates), with organic growth ex-forex maintaining a solid pace (+9.5% vs +10.3% in Q1 2021) - Reported group sales increased 6% y-o-y in Q2 2021 (vs +3% in Q1 2021) to € 228m beating our estimates and consensus expectations by 4%, and maintaining solid growth excl. forex of +9.5% cc (vs +10.3% cc in Q1 2021). The Casings business was the main growth driver with sales at cc increasing +9% y-o-y in Q2 2021 to € 228m (vs +10.5% l-f-l growt...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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