Eutelsat: finally, something to hold on to?

We reassess our investment case after the recent share price rally and speculation that Eutelsat could replace Starlink in Europe, amid rising European reliance on OneWeb for strategic satcoms. Near-term volatility should persist as speculation has yet to translate into concrete revenue. However, w

SES: a strong Q4 in line with last week's trading update

Q4 results exceeded css on both revenue (+2% vs. css) and margin (+460bps vs. css), although this was largely anticipated following last week’s trading update. In our view, the strong operational performance was driven primarily by stronger-than-expected Networks and disciplined cost control, with

Daily Healthcare - March 28th, 2025

Nel: USD6m PEM order

Yesterday evening, Nel announced it had received a USD6m PEM order from Collins Aerospace on the back of its long-lasting and exclusive supply agreement for prolonged underwater submarine operation equipment. Deliveries will take place over several years starting in late 2025. This capitalises on P

H&M: business model still fragile in an uncertain world

The mild reaction yesterday confirmed that investors had mixed feelings about the sharp 33% miss on Q1 EBIT and the scenario of gradual improvement throughout the year. Although management guided for a positive markdown impact in H2 2024, soft organic growth, rising inventory levels and volatile co