End of coverage

From 27th of September 2023, we will no longer include Veom Group in our coverage universe.

Steady progress in improving revenue mix

VEOM has reported Q2 2023 sales down 7% yoy. While Chacon & DIO Home sustained good momentum, Cabasse Audio (-18% yoy) faced a slowdown in retail sales. We remain cautious regarding H2 2023 amid a deteriorating macroeconomic outlook for consumer spending, but we anticipate successful product la

Bryan, Garnier & Co Technology Daily | CPGI, SOW, COP, ALVGV, SEMIS

Dual dynamic continues in Q1 2023

VEOM has reported Q1 2023 sales of EUR6.35m (flat yoy), with Chacon & DIO demonstrating robust growth (+8% yoy), while Cabasse Audio remained in negative territory (-12% yoy). We maintain a positive outlook for FY23e, following encouraging comments regarding strong commercial momentum and robus

Bryan, Garnier & Co Technology Daily | Edenred, Veom, Telefonica

FY22 results hit a high note following Cabasse's listing

Despite a 7% decline in FY22 revenue, VEOM reported net income of EUR3.6m, an improvement in gross margin to 37.6% (+100bps) and positive EBITDA. Overall, the company showed a positive trend in terms of cash flows, strengthening its cash position by EUR2.7m during FY22, with a solid cash balance of

CABASSE GROUP BUY | EUR10.5 EBITDA margin target pushed back to 2...

º Apparently stable margins, but masking a structural improvement EBITDA margin target pushed back to 2023

CABASSE GROUP: Awaiting growth rebound in 2H22 | BUY | EUR10.5 vs. EUR...

CABASSE GROUP - BUY | EUR10.5 vs. EUR11 Awaiting growth rebound in 2H22 Freight tensions continue to constrain group growth FY22e guidance confirmed, we revise revenues forecasts in the face of a global economic slowdown Buy maintained, TP slightly downgraded to 10.5EUR