Viscofan : Solid Q3 2021 figures and slight lift in guidance towards our expectations
>Q3 2021 sales +9% (4% above estimates), with organic growth excl. forex at +8.2% (vs +9.5% in Q2 2021) but with a more difficult comparable base - Reported group sales increased 9% y-o-y in Q3 2021 (vs +6% in Q2 2021) to € 246m beating our estimates and consensus expectations by 3-4% and reaching a historical record figure for quarterly sales. Growth excluding forex maintained a positive trend of +8.2%, although below the pace of previous quarters when the company ha...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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