Thermador: down on half-year sales
After the sharp drop at the start of the year (-17.2% in organic terms), sales finally followed the same trend in the second quarter, with a 15% decline", notes the analyst, who points to a volume effect of -13.6% and a price effect of -2.5% for the half-year.
Oddo BHF sees 'a market environment that remains unpromising in the short term', and has therefore lowered its forecasts for 2024 and its price target from €90 to €88, while maintaining its 'neutral' opinion on the share.
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