Vilmorin & Cie's resilient FY margins, growth targets lift shares

Vilmorin & Cie SA

13/10/2022 09:14

** Shares in Volmorin & Cie  VILM.PA  gain speed and rise
3.6% after the French seed group posted an increase in its FY
EBITDA and announced growth targets for 2022-23  urn:newsml:reuters.com:*:nFWN31D0Z5
    ** FY EBITDA comes in at 392.1 million euros ($380.57
million), up from 367.2 million euros last year, while sales
increased by 7.5% y/y to 1.59 billion euros
    ** For 2022-23 Vilmorin expects business growth of between
6% and 8% and a current operating margin rate of at least 8%
    ** Portzamparc points to a "good resilience of margins" and
adds net operating expenses were well contained at 635.2 million
euros despite the impact of inflation and R&D costs
($1 = 1.0303 euros)
 (Reporting by Federica Mileo in Gdansk)
 ((Federica.mileo@thomsonreuters.com))