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- Emira Sagaama
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- Emira Sagaama
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- Emira Sagaama
- Rok Stibric
- Adrian Pehl
- Jean-François Granjon
- Martijn Den Drijver
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- Klaus Ringel
- Michael Foundoukidis
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- Emmanuel Matot
- Oleg Galbur
- Luis de Toledo Heras
- Bruno Cavalier
Citizen K. (continued)
There is every reason to believe that US household spending was strong until the end of the summer (the Atlanta Fed estimates an annualised growth rate of +3.4% in Q3). However, consumer confidence is weakening and the labour market is cooling. To resolve this paradox, it has been suggested that spending at the top end of the income scale was so strong that it offset weakness elsewhere. We readily admit that the top decile is more sensitive to strong stock market gains than to modest wage slowdo...
- Ghada Ben Sedrine
- Nicolas David
- Ghada Ben Sedrine
- Nicolas David
- Martial Descoutures
- Oussema Denguir
- Delphine Brault
- Nathan Mietlicki
- Martial Descoutures
- Oussema Denguir
- Rok Stibric
- Jeremy Garnier
- Yosr Jamoussi
AdVini : A quality wine producer over the long term
Active in the wine industry over the past 150 years, AdVini operates in a global market plagued by a decline in vineyard areas and production outputs amid a consumer shift towards higher quality wines (meaning smaller volumes). In this environment, the group continues to adapt its model (quality at the right price, product mix geared towards the on-trade market, geographical diversification) and gain market share thanks to its brands and global expansion. Our valuation (DCF and peer comparison),...
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