Etablissements FR Colruyt is engaged in wholesale, food service, distribution of fuels, production of electricity and digital printing. Co. has three operating segments: retail, which relates to stores under Co.'s own management which directly sell to retail customers and bulk consumers; wholesale and foodservice, which supplies to wholesalers, commercial customers and affiliated independent merchants; and other activities, which operates gas stations, engaged in printing and document management and provides alternative energy.
  • TickerCOLR
  • ISINBE0974256852
  • ExchangeEuronext Brussels
  • SectorFood & Drug Retailers
  • CountryBelgium

Analysts

Ioannis Pontikis

Morningstar | Colruyt Reports Underwhelming FY19 as Competition Intensifies; Shares Down 15% but Still Rich

No-moat Colruyt issued fiscal 2019 results, with revenue at 4.5% growth versus the year-ago period, broadly in line with our expectations. Colruyt said it expects price and promotional pressure to intensify in a challenging Belgian retail market. We maintain our no-moat rating and do not anticipate altering our FVE of EUR 35.50 as we roll our model forward to account for fiscal 2019 results. Operating income was in line with our estimates but lower than consensus. EBIT was down 0.7% to EUR 485 million, implying a 5.1% margin, a function of lower gross margin (promotional pressure) and higher ...

Ioannis Pontikis

Colruyt Reports Underwhelming FY19 as Competition Intensifies; Shares Down 15% but Still Rich

No-moat Colruyt issued fiscal 2019 results, with revenue at 4.5% growth versus the year-ago period, broadly in line with our expectations. Colruyt said it expects price and promotional pressure to intensify in a challenging Belgian retail market. We maintain our no-moat rating and do not anticipate altering our FVE of EUR 35.50 as we roll our model forward to account for fiscal 2019 results. Operating income was in line with our estimates but lower than consensus. EBIT was down 0.7% to EUR 485 m...

Alan Vandenberghe ...
  • Alexander Makar
  • Bart Cuypers
  • Jan Opdecam

Morning Note: BAMNB NA, COLR BB, MONT BB, XIOR BB

BAM Group: IJmuiden sea lock on-site press visit Colruyt: Feedback analyst meeting Montea: First carbon free logistic building Xior: ROXI: the new way of living concept by Xior

Alan Vandenberghe ...
  • Guy Sips
  • Joachim Vansanten
  • Thomas Couvreur

Morning Note: ADYEN NA, COLR BB, OPTI BB , GIMB BB

Adyen: Facebook’s Libra coin / placement of 465k shares Colruyt: In line results, warns for increased competition Crescent: Bagaar will use Option’s communication technology Gimv: € 150m-€ 250m bond issue and investment in Alro

COLRUYT sees a downgrade to Neutral on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of COLRUYT (BE), active in the Food Retailers & Wholesalers industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered defensive. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date June 14, 2019, the closing price was EUR 62.48 and its target price was estimated at EUR 59.24.

Ioannis Pontikis

Morningstar | Colruyt Reports Underwhelming FY19 as Competition Intensifies; Shares Down 15% but Still Rich

No-moat Colruyt issued fiscal 2019 results, with revenue at 4.5% growth versus the year-ago period, broadly in line with our expectations. Colruyt said it expects price and promotional pressure to intensify in a challenging Belgian retail market. We maintain our no-moat rating and do not anticipate altering our FVE of EUR 35.50 as we roll our model forward to account for fiscal 2019 results. Operating income was in line with our estimates but lower than consensus. EBIT was down 0.7% to EUR 485 million, implying a 5.1% margin, a function of lower gross margin (promotional pressure) and higher ...

Ioannis Pontikis

Colruyt Reports Underwhelming FY19 as Competition Intensifies; Shares Down 15% but Still Rich

No-moat Colruyt issued fiscal 2019 results, with revenue at 4.5% growth versus the year-ago period, broadly in line with our expectations. Colruyt said it expects price and promotional pressure to intensify in a challenging Belgian retail market. We maintain our no-moat rating and do not anticipate altering our FVE of EUR 35.50 as we roll our model forward to account for fiscal 2019 results. Operating income was in line with our estimates but lower than consensus. EBIT was down 0.7% to EUR 485 m...

Alan Vandenberghe ...
  • Alexander Makar
  • Bart Cuypers
  • Jan Opdecam

Morning Note: BAMNB NA, COLR BB, MONT BB, XIOR BB

BAM Group: IJmuiden sea lock on-site press visit Colruyt: Feedback analyst meeting Montea: First carbon free logistic building Xior: ROXI: the new way of living concept by Xior

Alan Vandenberghe ...
  • Guy Sips
  • Joachim Vansanten
  • Thomas Couvreur

Morning Note: ADYEN NA, COLR BB, OPTI BB , GIMB BB

Adyen: Facebook’s Libra coin / placement of 465k shares Colruyt: In line results, warns for increased competition Crescent: Bagaar will use Option’s communication technology Gimv: € 150m-€ 250m bond issue and investment in Alro

Ahmed Ben Salem ...
  • Baptiste Lebacq
  • Bruno Cavalier
  • Christophe Chaput
  • Emmanuel Matot
  • Jerôme Bodin
  • Laurence Hofmann
  • Martial Descoutures
  • Pierre Corby

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/26/2018

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Ahmed Ben Salem ...
  • Baptiste Lebacq
  • Bruno Cavalier
  • Christophe Chaput
  • Emmanuel Matot
  • Jerôme Bodin
  • Laurence Hofmann
  • Martial Descoutures
  • Pierre Corby

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/11/2018

Neoen est en passe de devenir un des grands groupes de référence des énergies renouvelables. Centré sur deux technologies à parité réseau et sur des zones géographiques de l’OCDE, Neoen affiche d’ores et déjà une croissance historique remarquable et de solides perspectives à l’horizon 2021e (TMVA 17/21e RNpg +57%). Notre objectif de cours fondé sur la moyenne entre le DCF, la SOP et la valorisation parc/parc ressort à 19,7 €. Au regard de la performance du titre (+17,9% en absolue dep...

COLRUYT sees a downgrade to Neutral on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of COLRUYT (BE), active in the Food Retailers & Wholesalers industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered defensive. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date June 14, 2019, the closing price was EUR 62.48 and its target price was estimated at EUR 59.24.

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