Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Cedric Rossi ... (+3)
  • Cedric Rossi
  • Clement Genelot
  • Loic Morvan

On the shelves now: Consumer Weekly #68

In this Consumer Weekly newsletter, we provide a brief overview of the key factors affecting our Consumer coverage, from Luxury & Consumer goods to Retail & E-commerce and Food & Ingredients. This week, we look at fragile US consumer sentiment which might precede a sharp pullback in spe

Mahaut Arnaud ... (+3)
  • Mahaut Arnaud
  • Paul de Froment
  • Thomas Mordelle

Waga Energy: new contract in Italy

This morning, Waga Energy announced a new contract in Rosignano Marittimo (Italy) on a site operated by Scapigliato, a public Italian company active in non-hazardous waste management. Planned to be operational in 2027, this site will be equipped with a Wagabox able to produce more than 92GWh/year o

Clement Genelot
  • Clement Genelot

HelloFresh: ready-to-eat reacceleration at risk

Post-Q1, we are becoming increasingly cautious about 2025 growth prospects with ready-to-eat set to slow further in in Q2 and the H2 reacceleration plan at risk in a deteriorating US environment. Neutral unchanged with PT at EUR8.5.

Cedric Rossi
  • Cedric Rossi

Fielmann: margin potential unleashed

The strong improvement in aEBITDA margin in Q1 (+300bps to 24.2%) brought greater credibility to the reiterated margin target of 24% for 2025, considering that the CSSe was still well below that threshold prior to the Q1 publication (BGe: 23.1% / CSSe: 22.8%e). While remaining a bit more prudent th

Cedric Rossi
  • Cedric Rossi

Fielmann: strong margin delivery in Q1 2025

Final FY24 results unveiled this morning are in line with last month's pre-release. FIE also provides an update on its Q1 performance: sales jumped by 13% (broadly in line with CSSe) whilst aEBITDA beat expectations by 11% following a 28% surge to EUR146m (CSSe: EUR131.5m). This impressive 370bp-im

Gregory Ramirez
  • Gregory Ramirez

LECTRA BUY | EUR45 Good resistance Chinese lockdowns; strong orde...

º Q2 results were slightly below expectations, but remained decent despite lockdowns in China New system orders hold up well thanks to automotive Company guidance for 2022 has been tightened toward its mid-point

Thibault Morel
  • Thibault Morel

HMS NETWORKS: HMS Networks 2Q22 results above expectations | CONVICTIO...

HMS NETWORKS - CONVICTION BUY | SEK500 HMS Networks 2Q22 results above expectations 2Q22 sales and new orders above expectations Positive surprise on 2Q22 profitability

Cedric Rossi
  • Cedric Rossi

HUGO BOSS: Successful execution and healthy geo mix lead to raised FY2...

HUGO BOSS - NEUTRAL | EUR68 vs. EUR64 Successful execution and healthy geo mix lead to raised FY22 guidance Strong sales and EBIT beat in Q2 driven by execution… … and low exposure to China’s lockdowns FY22 sales and EBIT guidance revised upwards and we increase our FY22-23 estimates by 7%

Clement Genelot
  • Clement Genelot

ROCHE BOBOIS: Q4 topping expectations with good H1 2022 prospects

ROCHE BOBOIS: Q4 topping expectations with good H1 2022 prospects

Victor Floc’h
  • Victor Floc’h

ONCODESIGN (CORPORATE, TP EUR15) | R&D collaboration signed with TiumB...

ONCODESIGN (CORPORATE, TP EUR15) | R&D collaboration signed with TiumBio in fibrosis

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