Buy Signal on Manutan (MAN-FR)

We had an Enter Long signal on November 30th 2020, triggered by our system on MAN-FR, Manutan International, the French mail order selling company.

Manutan is a €485 mn market cap and is one of the main European groups for the mail order selling of industrial and office equipment to businesses and local authorities. The group offers handling, lifting and storage equipment, furniture, office and workshop supplies and production, maintenance, safety, quality control and shipping tools. Products and services are marketed through catalogs, sales agencies, sales forces and via 26 merchant sites.
The revenue is fully achieved in Europe, including Southern Europe (61% of sales), Central Europe (16%), Western Europe (15%), Northern Europe (5%) and Eastern Europe (3%).

The company showed strong resilience in 2020 with limited revenue growth (€780M versus €774m) and is expected to post rather flat profits at around €40M. The health crisis enabled the Group to step up its investments in Digital, which fully contributed to growth over the year.

Short term catalyst: On line sales, Cyclical recovery in Europe.

This signal looks mainly company specific.