AlphaValue Corporate Services
SOCIETES SUIVIES A PROPOS CONTACT EN
Cette analyse a été commandée et financée par l’entreprise concernée et constitue donc un avantage non-monétaire mineur tel que défini par MIFID2

Odiot

CR 		Bloomberg   MLODT FP
Luxe  /  France 
Odiot possède toutes les lettres de noblesse de l’ultra-luxe — les bénéfices suivront.

Score de durabilité
Société (Secteur)
3,5 (5,2)

La durabilité est constituée d'éléments analytiques contribuant au E, au S et au G, qui peuvent être mis en évidence comme précurseurs de la durabilité et peuvent être combinés de manière satisfaisante.

More on Sustainability / ESG ...
  Score Poids  
Gouvernance   
Taux de membres indépendants du Conseil d'Administration 7/10 25 %More ...
Diversité géographique du Conseil d'Administration 4/10 20 %
Fonction de Chairman distincte de l’exécutif 5 %
Environnement   
Emissions CO₂ 1/1025 %More ...
Prélèvement d'eau 1/1010 %
Social   
Évolution de la dispersion des salaires0/105 %More ...
Satisfaction au travail3/105 %
Communication interne10/105 %

Score de durabilité 3,5/10 100%  

Score de gouvernance
Help
Société (Secteur) Independent board Help
2,6 (5,5) Oui
ParamètresSociétéSecteurScorePoids
Nombre de membres du Conseil d'Administration612 9/10 5,0 %
Féminisation du Conseil d'Administration (%)041 1/10 5,0 %
Diversité géographique du Conseil d'Administration (%)8370 4/10 10,0 %
Age moyen des membres du CAN/A57 0/10 5,0 %
Type de société : Sous influence familiale 4/10 10,0 %
Taux de membres indépendants du Conseil d'Administration6645 7/10 20,0 %
Une Action, un droit de vote 15,0 %
Fonction de Chairman distincte de l’exécutif 5,0 %
Le Chairman n’est pas un ancien membre du comité de direction 5,0 %
Transparence totale des rémunérations du comité de direction 0,0 %
Transparence des seuils à atteindre avant attribution de bonus 0,0 %
Le comité des rémunérations rapporte au Conseil d’Administration 5,0 %
Statuts intelligibles et simples 15,0 %
Score de gouvernance 2,6/10 100,0 %
     
Governance matters

Little is known about the governance beyond the active involvement of the owner and management. Mr. Trutat has extensive experience in financial matters and in managing precision mechanics and metallurgy micro-caps, and he appears to have the practical capabilities required to address the operational and production challenges typically faced by a business of this size.
Thierry BIGNET M Membre 2024
Marc JOBERT M Membre 2024
Laetitia MAFFEI M Membre 2024
Yves POZZO DI BORGO M Membre 2024
Emilie THÉBAULT M Membre 2024
Gilles-Emmanuel TRUTAT M Membre 2024
Changement des administrateurs : 17/06/2025
Nom (6) Indep.
(4/6) 		Challenged
(conflicted interests, distant or current)		Die hard
(7 years or more)		Improbable
(too young, disconnected profile)		Overloaded
(too many boards, too old)		Specific agenda
(gov. or staff rep)		Tied
(family, business relations, executive)		Unknown
(lack of history, short CV)
Thierry BIGNET
Marc JOBERT
Laetitia MAFFEI
Yves POZZO DI BORGO
Emilie THÉBAULT
Gilles-Emmanuel TRUTAT
Gilles-Emmanuel TRUTAT M DG 2024
Laetitia MAFFEI M co-CEO 2024
Changement du management : 17/06/2025
Comités existants
  • Comité d'audit/gouvernance
  • Comité des comptes
  • Comité des contentieux
  • Comité des Nominations
  • Comité des rémunérations
  • Comité environmental / ISR
  • Comité santé/ sécurité

Score d'Environnement
Société (Secteur)
1,4 (4,5)
Ensembles de données évalués en tant que tendances sur un calendrier glissant, en fonction du secteur
More ...
ParamètresScoreSecteurPoids
Emissions CO₂1/104/10 30 %
Prélèvement d'eau1/105/10 30 %
Energie2/105/10 25 %
Déchets2/105/10 15 %
Score d'Environnement1,4  100%
Environment matters

The environmental score is mediocre as Odiot SA is not in a position to suplly carbon and water data at this juncture
Paramètres environnementaux


Energy (GJ) per €m in capital
employed
CO₂ tons per €m in capital
employed
Cubic meter water
withdrawal per €m in capital
employed
Tons waste generated per €m in
capital employed
Odiot Consommation durable
Données sectorielles
Société PaysScore d'EnvironnementEnergie (totale, GJ)Emissions CO₂ (tonnes)CO₂
Compensation
(in tons)		Prélèvement d'eau (m3)Déchets (total, tonnes)
        
adidas 2/101 790 201135 814 301 90626 382
Burberry 5/10202 54517 88517 885185 930 
CEWE BH 2/10140 1344 42120 000 12 601
Electrolux 6/102 862 313216 000 2 816 000152 270
Haier Smart Home - D shares 6/105 110 537650 677 5 822 925115 132
Hermes International 6/10841 44652 25722 000628 00018 717
HUGO BOSS 4/10493 75825 520 58 1807 870
Husqvarna 9/10963 09027 722 477 44524 013
Kering 8/101 566 30243 480 870 38423 331
Knaus Tabbert 4/10143 7413 222 48 3438 934
LVMH 7/106 333 156198 368256 0004 244 877157 780
Moncler 5/10224 24020 140 5 428 1181 700
OdiotCR 1/10     
Prada 7/10376 58531 56731 567422 5002 951
PUMA 7/10446 1236 574 123 5236 767
Richemont 7/101 167 50520 630 2 557 44315 403
Seb 2/10n/a211 978 2 654 00057 616
Swatch 7/101 343 88061 489 391 7348 111
TomTom 6/1032 1301 393 8 670134

Social score
Société (Secteur)
5,3 (6,3)
Social matters

The HR score is weakened by the lack of historical staffing data. Silversmiths seem however happy to deploy their experience under the new growth plans.

Paramètres Quantitatifs (67 %)
Ensemble de mesures numériques liées au personnel, disponibles dans le modèle propriétaire AlphaValue, visant à établir un classement sur les questions sociales et de ressources humaines.
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ParamètresScorePoids
Evolution du personnel total5/10 20 %
Evolution du salaire moyen10/10 35 %
Part de la valeur ajoutée absorbée par les frais de personnel1/10 25 %
Part de la valeur ajoutée absorbée par les impôts1/10 20 %
Évolution de la dispersion des salaires0/10 0 %
Bonus Effectif et Retraites (0 ou 1)0
Quantitative score5,0/10 100%
Paramètres Qualitatifs (33 %)
Ensemble de critères qualitatifs, à cocher par l'analyste


More ...
ParamètresScorePoids
Accidents du travail10/10 25 %
Developpement des ressources humaines6/10 35 %
Paye0/10 20 %
Satisfaction au travail3/10 10 %
Communication interne10/10 10 %
  
Score Qualitatif5,9/10 100%


Sector figures
SociétéPaysSocial Score Score QuantitatifScore QualitatifStaffing
      
PUMA 7,97,19,719 415
CEWE BH 7,87,87,94 038
Seb 7,46,98,632 785
LVMH 7,36,88,3216 075
TomTom 6,97,46,13 561
Husqvarna 6,87,35,813 219
adidas 6,85,49,763 276
Electrolux 6,68,04,040 379
Hermes International 6,65,010,026 696
Prada 6,57,05,515 477
Swatch 6,46,07,332 647
HUGO BOSS 6,24,59,724 000
Richemont 6,06,64,740 452
Moncler 5,95,47,17 074
Knaus Tabbert 5,95,37,23 550
Haier Smart Home - D shares 4,44,05,4123 960
Burberry 4,44,93,38 005
Kering 4,24,14,445 991

Sustainability / ESG by AlphaValue:

Doubt driven, focused on dynamics


AlphaValue was set up in 2009 as an ESG native firm: since inception, no research could be published without filling up the ESG relevant items. ESG has always been there as a natural building block of the research effort.

Without much pretence, AlphaValue has accumulated 11 years of proprietary, practical data in a consistent way that has been made to “talk” with financial data. The efforts have been aimed at solving the main conundrum of ESG analytics: avoiding useless and noisy data. AlphaValue ESG data is intimately connected to the fundamental research work and its continuous updating process. In other words, AlphaValue ESG data can be made to resonate at will in terms of financial implications for those investors with the willingness to do so.

Over the last 3 years, this data, or rather the dynamic of this data, has been put at work so that it impacts directly and consistently on valuations across AlphaValue’s 450 + stocks universe. This is considerable progress vs. the dominant “consumption” of ESG raw data: ESG-type conclusions are sitting next to valuation fundamentals but hardly any investor is in a position to bridge effectively the two in a consistent and repeatable way. It takes more than a spreadsheet to get stable and auditable results that work 100% of the time.

AlphaValue reckons that it currently is the only equity research provider in Europe to have reached this stage: a perfectly smooth on-boarding of ESG data, on a continuing basis, impacting valuation fundamentals day and night.

This is available on every stock, every sector, every stock selection, every day.

Heretical ESG opinions?

ESG is a contradiction in terms. Without a good Governance, the Social and Environment items will never show progress. Social is for stakeholders and thus unlikely to please shareholders. The long-term view that good pay/working conditions are ultimately good for shareholders is, like any promise, better left to those who want to believe in it. It does not work for normal investment horizons

Environmental gains will not happen without good Governance but this is not enough as environmental progress will not happen without coercion from governments/supra-governments. There is no reason why a corporate will spend more for a possible collective gain tomorrow when it can have better returns now for its shareholders.

The environment is a cost of massive complexity and a universal one as data improves and allows for intricate tracking of what corporates are up to. There is no practical way a corporate can be valued through a web of changing definitions of environmental data. AlphaValue holds the view that all corporates are made to pay through lower GDP growth expectations resulting from friction costs. The only dimension that really matters from an investment perspective is whether a given corporate makes an extra effort vs. peers. A good ‘E’ rating shall not be driven by absolute levels but by the dynamic of emission controls relative to peers. Dumping cement stocks because they spit out carbon is a narrow view of what ESG implies.

Sustainability scores only

AlphaValue always refused to supply a pecking order of its coverage along some improbable ESG scale. It just does not make sense to mix opposing signals in a single ranking.

Sustainability is a different proposition where analytical items contributing to the E, the S and the G can be highlighted as sustainability precursors and combined in an intellectually acceptable way. This is the only scale made available by AlphaValue.

Sustainability impacts target prices

From 1-12-2020, AlphaValue substituted sustainability metrics for its Governance and Social ones when it comes to impacting valuations;

Indeed since 2019, all DCF (or DCF equivalents for Financials) have been impacted by Governance and Social metrics to connect directly ESG-type findings into share price targets and bring consistency across the board. The impact is driven by adjusting the small ‘g’ conventionally used to assess the growth to infinity. This is being tweaked to recognise, say, that good governance ultimately pays off.

The same procedure is now stemming from Sustainability metrics instead.

For the record, this has been made possible as AlphaValue has finalised its proprietary E scoring, now extended to 4 items (GHG, Waste, Water, Energy) on which a degree of data stability seems to emerge.