Investing in Europe #64
Company news and results
Givaudan grew sales by +4.6% in the first three months of 2022 on a like-for-like basis.
Givaudan started the year with good business momentum whilst maintaining its operations and global supply chain at a high level, despite the challenging external environment affecting many parts of the business
bioMérieux, the in vitro diagnostics company, published its results for Q1 2022 and announced the acquisition of Specific Diagnostics.
LVMH reported an organic increase in revenue of 23% in the first quarter of 2022. Fashion & Leather Goods continued to perform strongly.
All business groups achieved double-digit revenue growth, except for Wines & Spirits, which continued to see supply constraints. The United States and Europe also achieved double-digit revenue growth; Asia continued to grow over the quarter despite the impact of a tightening of health restrictions in China in March.
Barry Callebaut, the cocoa processor and chocolate manufacturer, grew sales by +16.5% in local currencies in the first half of fiscal year 2021/22. Sales growth was flat last year.
The advertising company Publicis reported an increase in revenue of 10.5% in the first quarter of 2022.
All of our regions performed well. The organic growth of the U.S. at +8% confirms the country’s continued dynamic with a good performance of Epsilon at its core. Europe posted robust recovery at +15% organic growth, fueled by France and the U.K. Meanwhile, in Asia, we also delivered very solid numbers, with +14% organically and double-digit growth once again in China.
Hermes grew revenue by +27% in Q1 2022 at constant currencies. Impressive growth in almost every region: Americas +44.2%, Europe +42.2%.
Deals and IPO
Benettons, Blackstone buyout proposal values Atlantia at $63 bln (link)
GSK to buy Sierra Oncology amid pressure to boost drug pipeline (link)
SocGen severs Russia ties with sale of Rosbank to oligarch Potanin (link)