FLASH - Herige - Acheter - Obj. 56€
Herige affiche une nouvelle fois un bon niveau d'activité au T4, au dessus de nos attentes et celles du consensus. Le management évoque une moindre visibilité 2023 même si le S1 semble à ce stade bien orienté avec des disparités évidemment importantes entre le neuf, la rénovation et les Travaux Publics. Le contexte prix au S2 est sous contrôle, nous attendons une progression du ROC proche de +30%… La valorisation reste quant à elle déprimée.VM Materiaux is engaged in the building market with 3 complementary fields of activity. Co.'s operations can be divided into three segments: Building material trading (Co. has a trading network specialized in distribution of materials for the building and public works sector), Concrete industry (Co. produces pre-cast and ready-mix concrete) and Industrial joinery (Co. manufactures a range of PVC, aluminium or wooden external joinery (doors and windows), as well as entry closures (shutters, fences and gates)). Co. operates only in France. Among its clients, Co. has both professionals in the building industry and DIY customers.
Portzamparc is a subsidary of BNP Paribas which adapted the mission to contribute to responsible and sustainable growth of private clients, management companies and SMEs . They offer personalized support adapted to the objectives in particular for Small and Medium-Sized Enterprises.
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