Tod's Group: H1 sales globally in line but slightly above consensus at the EBIT level

SELL, Fair Value EUR107 vs. EUR104 (-16%)

News published on August Thursday 8, 2013
Share on

The Italian group has released its H1 results yesterday. Sales reached EUR491m in H1 (consensus: EUR489m) and EBIT EUR108m (consensus: EUR104m). H1 EBIT margin has gained 60bp in H1, implying a 200bp gain in Q2, partly due to a positive FX impact. Sell recommendation maintained due to a stretched valuation (20% premium vs peers and 24% vs 2003-13 historical average).

Full report available to subscribers
Please contact  

The Essentials

Everything you need to know about investment banking dedicated to growth
Recent Transactions Highlights
From M&A, to IPOs see what’s been happening at Bryan, Garnier & Co this year
Join our Team
Bryan, Garnier & Co is always looking for talent in all our divisions, at all levels
Explore our opportunities