STEF : Oddo confirms its outperform rating on the stock
Thus, for sales already published of 4,264 ME, up 21.6% (+14.2% lfl), RO is up 32% to 203.5 ME (vs 200.2 MEe), i.e. an operating margin of 4.7%. RNpg amounted to 146.4 ME (vs 136.4 MEe).
Oddo also reports that Stef has entered into exclusive negotiations with the CMA CGM group to sell its maritime activities (La Méridionale), which will logically be accretive for the Group.
Against this backdrop, the broker confirms its 2023 scenario, i.e. sales up by 4.3% (+2.7% lfl) to 4,447 ME and RO of 211 MEe, implying a stable margin of 4.7%.
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