(News Bulletin 247) – Oddo points out that Vranken Pommery yesterday evening published a ROC up 10% to 34.6 ME, close to expectations (34 MEe and 34.4 ME for the consensus). The group share of net income came out at 10.2 ME, slightly below forecasts (11.3 MEe and 11.9 ME for the consensus), in line with financial costs, but up 36.6% compared to restated 2021 NIpg.
“Given the economic environment both in France and abroad, and the outcome of trade negotiations, the group is confident for the current year. He expects a further increase in all the results,’ indicates the analysis office.
Oddo confirms its Underperformance opinion and its price target of 19 E.
‘Results rather in line and a message of confidence for 2023 despite an inflationary context’ adds Oddo.
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