ORANGE : Oddo BHF remains positive ahead of business update
The research firm forecasts organic sales growth of 2.2% in the third quarter of 2023 to 1,147 million euros, still driven by Africa (+12% on a comparable basis) and Europe excluding France (Poland, Spain).
Oddo BHF remains 'cautious on the corporate business, despite the new management in place which has launched an in-depth restructuring', but believes that the 2023 targets (1.1% EBITDAaL growth, FCF to 3.5 billion euros) should be confirmed.
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