Whitbread : Preview S1 : pas de changement de tendance attendu, contexte toujours défavorable ; Alléger maintenu
>Faible performance opérationnelle attendue au S1 - La publication S1 de Whitbread ne devrait pas marquer de point d’inflexion par rapport aux performances enregistrées sur les derniers trimestres. La topline devrait être pénalisée par la faiblesse de la croissance organique dans un contexte de hausse de coûts. Pour le semestre, nous attendons un CA groupe à 1 080 M£, flat yoy et un EBIT groupe à 270 M£ (vs 286 M£ il y a un an), soit une marge en baisse de 150 pb. On ...Whitbread is a hospitality company. Co. serves its customers in the U.K. and beyond through its two businesses: Premier Inn and Restaurants; and Costa. Premier Inn is a hotel business, with over 760 hotels and more than 68,000 rooms as of Mar 2 2017. Co.'s hotel are located alongside its own restaurant brands. Co. also have hotels in the Middle East, and Germany, with more hotels in the pipeline. Costa is the coffee shop, with over 2,200 coffee shops in the U.K., over 1,300 stores in 29 international markets and over 6,800 Costa Express self-serve units as of Mar 2 2017.
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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