Tod's: UBS still on hold after results

(CercleFinance.com) - UBS maintains its neutral rating on the Tod's stock, with a target price of 40 euros following its Q2 sales figures.


"Q2 sales of EUR248m was +2% above cons (+1% vs. UBSe), with c.FX growth of +10% y/y (cons +9%, UBSe +8%). By channel at c.FX in Q2, retail was a miss at +7% (cons and UBSe +9%), while wholesale came in higher than expectation at +21% c.FX (UBSe +8%)," the broker said.

EBITDA reached 90.6 million euros, representing a margin of 19.4%. EBIT was came in at 17.7 million euros, while net profit reached 0.8 million euros. Finally, net financial debt was 85 million euros.


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