Report
Fehmi Ben Naamane ...
  • Matthias Desmarais

Whitbread : Une sous-performance marquée au T1 mais qui ne remet pas en cause les catalyseurs sur le titre

>Un T1 faible - Whitbread a publié ce matin ses chiffres d’activité du T1, qui ressortent faibles, marquant une décélération supplémentaire par rapport aux derniers trimestres. La croissance organique groupe est négative à -1.3%, dont -0.9% sur l’hôtellerie et -2.0% sur Costa. La division Hôtellerie fait ressortir des RevPars L/L en baisse à -1.6%, dont -4.3% sur Londres qui pâlit d’une base de comparaison particulièrement difficile et une offre hôtelière en forte cr...
Underlying
Whitbread PLC

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Fehmi Ben Naamane

Matthias Desmarais

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