Salzgitter AG

Salzgitter is a holding company. Through its subsidiaries, Co. organized its businesses into five divisions. The Steel Division manufactures steel and special steels. The Tubes Division is involved with the manufacture of line pipes, HFI-welded pipes, precision tubes and stainless steel tubes. The Trading Division operates a European sales network as well as trading companies and agencies worldwide. The companies in the Services Division provide services such as data processing, telecommunications services, scrap dealing, the handling and storage of bulk cargo, transportation, and other services. The Technology Division operates in the filling and packaging technology segment.
  • TickerSZG
  • ISINDE0006202005
  • SectorIndustrial Metals & Mining
  • CountryGermany
Alain William ...
  • Alexandre Iatrides
  • Christophe-Raphaël Ganet
  • Geoffroy Michalet
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Pierre Tegner
  • Sebastien Malafosse
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/19/2020

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Alain William ...
  • Jean Sassus
  • Jeremy Garnier
  • Jerôme Bodin
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 05/19/2020

We are upgrading to Buy vs Neutral on TF1 around one and a half months after our downgrade. In the intervening period, the share price has dropped by 14%, giving a negative valuation of the TV arm and in Q1, TF1 demonstrated its capacity to adjust its costs significantly. We consider the consensus forecasts to be excessively low for 2020 since the advertising market is likely to improve - Cf. equity report published. - ...

Alain William ...
  • Alexandre Iatrides
  • Christophe-Raphaël Ganet
  • Geoffroy Michalet
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Pierre Tegner
  • Sebastien Malafosse
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 19/05/2020

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Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Opportunities within Mobile Payments, Metals & Mining, and Utilities The MSCI ACWI and S&P 500 continue to recover following the most recent test of support at their respective 200-day moving averages. With market internals still mixed, support levels holding, and indexes continuing to consolidate sideways, our neutral but constructive outlook remains intact. • Major themes: Mobile Payments, Metals & Mining, and Utilities. We believe the secular mobile payments theme (ETF: IPAY) has room to run, and we expect related stocks to continue outperforming... see pages 2-4 for actionable stocks. W...

Alain William

ODDO : Consolidation: ThyssenKrupp’s announcements for the steel division fall flat

>ThyssenKrupp takes the bull by the horns - Despite the current challenges resulting from the COVID-19 crisis, ThyssenKrupp (TK) is pressing on with its strategic realignment. TK’s new strategy consists of: 1/ its transformation into a competitive “group of companies” with a streamlined management model; and 2/ a redefined and better structured portfolio of activities. The management plans to separate these companies into two categories: 1/ those that it wants to deve...

Alain William

ODDO : Consolidation : les espoirs d’annonces de ThyssenKrupp pour la division Steel font pschitt

>ThyssenKrupp prend le taureau par les cornes - Malgré les défis actuels résultant de la crise de COVID-19, ThyssenKrupp (TK) poursuit son réalignement stratégique. La nouvelle stratégie de TK consiste en : 1/ sa transformation en un « groupe de compagnies » performant avec un modèle de gestion allégé et 2/ un portefeuille d’activités redéfini et mieux structuré. Le management entend séparer ces entreprises en deux catégories : 1/ celles qu’il souhaite développer seul...

Alain William ...
  • Anis Zgaya
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Martial Descoutures
  • Michael Foundoukidis
  • Nicolas Thorez
  • Oussema Denguir
  • Philippe Ourpatian

ODDO BHF Small & MIDCAP MORNING NEWS - 05/14/2020

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Alain William

Salzgitter : Management sets out detailed expectations by division for 2020. We have downgraded our estimates. Reduce rating maintained

>Management provides more granularity on 2020 guidance - Profit before tax (PBT) for Q1 2020 showed a loss of € 31.4m (vs -€ 294m in Q4 2019 and € 126m last year) as pre-announced on 24 April at the time of its warning on 2020 results. The 2020 PBT guidance is still for a loss in the triple digit million range, largely due to: 1/ the strip steel division (73% of 2019 EBITDA) which is set to suffer from a sharp reduction in its capacity (current utilisation rate of 60%...

Alain William ...
  • Anis Zgaya
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Martial Descoutures
  • Michael Foundoukidis
  • Nicolas Thorez
  • Oussema Denguir
  • Philippe Ourpatian

ODDO BHF Small & MIDCAP MORNING NEWS - 14/05/2020

...

Alain William ...
  • Alexandre Iatrides
  • Christophe-Raphaël Ganet
  • Geoffroy Michalet
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Pierre Tegner
  • Sebastien Malafosse
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/19/2020

...

Alain William ...
  • Jean Sassus
  • Jeremy Garnier
  • Jerôme Bodin
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 05/19/2020

We are upgrading to Buy vs Neutral on TF1 around one and a half months after our downgrade. In the intervening period, the share price has dropped by 14%, giving a negative valuation of the TV arm and in Q1, TF1 demonstrated its capacity to adjust its costs significantly. We consider the consensus forecasts to be excessively low for 2020 since the advertising market is likely to improve - Cf. equity report published. - ...

Alain William ...
  • Alexandre Iatrides
  • Christophe-Raphaël Ganet
  • Geoffroy Michalet
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Pierre Tegner
  • Sebastien Malafosse
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 19/05/2020

...

Alain William ...
  • Jean Sassus
  • Jeremy Garnier
  • Jerôme Bodin
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 19/05/2020

Nous repassons à l’Achat sur TF1 vs Neutre environ 1 mois et demi après notre dégradation. Depuis le cours a baissé de 14% conduisant à une valorisation négative du pôle TV et TF1 a démontré au T1 sa capacité à ajuster ses coûts fortement. Les attentes du consensus nous semblent excessivement basses pour 2020 alors que le marché publicitaire devrait s’améliorer. Cf. étude publiée hier soir. - ...

Alain William ...
  • Aurelien Sivignon
  • Christophe Chaput
  • Hela Zarrouk
  • Jean-François Granjon
  • Jerôme Bodin

ODDO BHF Small & MIDCAP MORNING NEWS - 13/05/2020

Cette crise aura été l’occasion pour les télécoms de démontrer leur résilience opérationnelle et leur aspect stratégique. Nous upgradons à l’Achat Proximus et Orange BE, Iliad et DT restent nos top pick, Telefonica souffre de sa présence au Latam. - ...

Due to a more favourable environment, SALZGITTER AG slightly increases to Slightly Negative

SALZGITTER AG (DE), a company active in the Steel industry, slightly increases its general evaluation. The independent financial analyst theScreener just confirmed the stock market behaviour of the title as risky. At the fundamental level, theScreener confirms the rating of 1 out of 4 stars; given the more favourable environment, the title's overall rating is upgraded to Slightly Negative even if it remains under pressure. As of the analysis date May 15, 2020, the closing price was EUR 9.46 and its target price was estimated at EUR 8.36.

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