Zooplus AG : Cut in earnings estimates due to disappointing H1 figures, higher customer acquisition costs, and continued investments in new customer business
>Q2: Earnings again below expectations - zooplus issued its Q2 2018 report. Sales of € 320.2m were in line with the preliminary figure issued on 19 July. EBT came in at € -3.7m, significantly below our estimate (€ -1.6m) and consensus (Factset: € -1.5m). Regarding the qoq drop in sales of € -2.4m in Q2 2018 vs Q1 2018, we note that there was only one quarter (Q2 2011) of negative qoq growth since Q1 2008. New customer growth virtually collapsed from +28% in Q1 t...Zooplus is an internet retailer for pet supplies in Germany and other European countries. Co. provides its customers approximately 8,000 food and accessory products for dogs, cats, small animals, birds, fish and horses. Co.'s products include various brand name foods, Co.'s own private labels, as well as as toys, care and hygiene products and other accessories. In addition, Co. provides its customers with other information on its websites, veterinary and other animal-related advice, plus features such as discussion forums and blogs. As of Dec 31 2013, Co. operated a total of 21 country-specific online shops.
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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