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《大行報告》瑞信下調歐舒丹(00973.HK)評級至「跑輸大市」 目標價維持20元 @ 2013-01-30T17: Back Hot News
Keyword:歐舒丹 銷售
Concept:歐舒丹首三季銷售 , 個月銷售8億歐元增長
在新興市場增長帶動下,歐舒丹(00973)公布,截至去年十二月底止首九個月銷售淨額按年增加17.6%至8.01億歐元,若撇除外匯換算影響,則整體增長12.2%,當中內地及俄羅斯分別錄26.8%及33.4%增長。期內占集團最大收入比重的日本市場銷售額僅按年升1.5%。
歐舒丹上市以來一直維持理想的業績增長,現價相當於2013年預測市盈率約25.7倍,假設近年理想的盈利增長得以持續之下,現價估值仍然合理。技術上,歐舒丹股價回落至50天均線水平,相信暫時會得到支持,可以現價買入,跌穿25元止損。
歐舒丹主力生產的化妝品及護理產品,標榜以天然及有機成分制造,截至去年9月底止半年度,銷售淨額增21.9%,至4.49億歐羅,純利增長16.3%,至3367萬歐羅,反映該公司即使在全球經濟增長放緩下,銷售仍能保持不俗增長。

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