DigiPlus Interactive Corp: 1 director

A director at DigiPlus Interactive Corp sold 1,032,000 shares at 12.697PHP and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two ...

Q1 numbers a touch weaker, leverage up q-o-q

PLUXEE : H1 beats estimates, FY 2023-24 guidance upgraded

>Solid H1 results above consensus with beat on EBITDA - Pluxee has reported total H1 2023-24 sales of € 593m, up 22% and 1% above the consensus. This represents organic growth for total revenue of 24% (Q1 at +19.7% and thus Q2 at +25.7%) which is above the consensus at +18.3% (ODDO BHF 19.7%e). In particular, organic growth of operating revenue (i.e. excluding revenue from float) is at 17.4% for H1, significantly above consensus at 13.0%, suggesting +20% in Q2 which b...

Schneider Electric : Schneider Electric serait intéressé par Bentley S...

>Bentley Systems, société de software, aurait été approchée par Schneider - Selon le WSJ, Schneider Electric est en pourparlers pour prendre le contrôle de la société de logiciels d'ingénierie Bentley Systems. Cadence Design Systems est également intéressé.Bentley Systems a constitué un comité spécial de son conseil d'administration afin d'étudier les options qui s'offrent à lui, notamment la vente de l'entreprise ou la création d’une JV.A noter que Siemens,...

Strong MSR growth and IDS recovery

Veolia : Surfin’ USA

>A front-ranking position in water and waste in the US - Following its presentation geared towards energy, the group unveiled the second stage, dedicated to its operations in the US. Out of its € 45bn of consolidated sales, the US contributes 11%, with € 5.2bn. Veolia’s US business revolves largely around water (66%) and waste (25%), with a focus on hazardous waste. In detail, the main contributor to sales is the water technology division (32% of sales). This supplies...

L'Oréal reports encouraging Q1 2024 sales figures

L'Oréal's Q1 sales were above market expectations. Excluding a technical one-off positive impact, sales grew 8.1% lfl over the quarter (consensus: +6.4%) thanks to strong performances in the mass market and Derma Beauty divisions. L'Oréal continued to outperform a still dynamic beauty market (+6%).

INVEST SECURITIES - MERCIALYS : Un remplacement rapide et très positif...

US: the risks of a further interest rate shock

Jerome Powell hammered home a simple message yet again this week: persistent inflation rules out any cut to key interest rates. One might think that if monetary policy were maintained as it is, the effect on the economy would be almost neutral. In practice, the effect is restrictive. First, it prolongs the impact of past rate hikes. Second, it prompts a review of the outlook for future rates. A few months ago, long rates had fallen in anticipation of an earlier monetary pivot. N...

Michelin : March volumes weaker as expected, but not worse

>Weak March volumes data already largely flagged, April looking better - Overall, weak volumes were largely expected last month, notably because of the lower number of working days (up to 2 days less) and high comps. It has also been flagged by Continental earlier this week but the German tyre maker however added that April was looking considerably stronger. Regarding Michelin, and as we also expect some weakness in specialty, we aim for volumes down 4.2% in Q1 (vs c...

Prodways Group : Q1 in line with expectations

>Q1 down in both divisions - Prodways Group reported yesterday evening Q1 2024 revenues down 26% YoY to € 16m, in line with our expectations. Both divisions were unsurprisingly hurt by a persistently challenging momentum, and their reported revenues were further dented by the reclassification of the group as a software business agent (Avenao - DS integrator). On a like-for-like basis, Q1 revenues would be down 7% YoY. By division, Systems (48% Q1 revenues) reported ...

PLUXEE : H1 beats estimates, FY 2023-24 guidance upgraded

>Solid H1 results above consensus with beat on EBITDA - Pluxee has reported total H1 2023-24 sales of € 593m, up 22% and 1% above the consensus. This represents organic growth for total revenue of 24% (Q1 at +19.7% and thus Q2 at +25.7%) which is above the consensus at +18.3% (ODDO BHF 19.7%e). In particular, organic growth of operating revenue (i.e. excluding revenue from float) is at 17.4% for H1, significantly above consensus at 13.0%, suggesting +20% in Q2 which b...

Vodafone : Ajustements des prévisions avec la sortie de l’Espagne

>Cession de l’Espagne, avant celle à venir de l’Italie - Nous révisons à la baisse nos prévisions pour intégrer la cession de l’Espagne (nos prévisions n’intègrent toutefois pas encore la cession de l’Italie dans l’attente de l’accord réglementaire) : nous abaissons de 15% nos estimations de CA à partir de FY 2025 (à 40 Md€), de 5% en EBITDAal (à 12,2 Md€) et de 12% en FCFaL (à 2,6 Md€). L’impact BPA est toutefois non signficaitf, l’activité espagnole n’étant pas prof...

Michelin : March volumes weaker as expected, but not worse

>Weak March volumes data already largely flagged, April looking better - Overall, weak volumes were largely expected last month, notably because of the lower number of working days (up to 2 days less) and high comps. It has also been flagged by Continental earlier this week but the German tyre maker however added that April was looking considerably stronger. Regarding Michelin, and as we also expect some weakness in specialty, we aim for volumes down 4.2% in Q1 (vs c...

Nokia : Le T1 est le point bas, mais visibilité limitée sur le rythme ...

>Opinion Neutre maintenue, OC 3 € - Suite à la publication des résultats T1 24 de Nokia, nous en ajustons en baisse de 4% nos BPA sur 2024/2025, mais laissons notre OC inchangé à 3.0 €. Nous réitérons par conséquent notre opinion Neutre. Malgré un marché des équipementiers télécoms toujours sous pression, le management s’est voulu rassurant en soulignant que le T1 était le point bas et en anticipant une reprise à partir du S2 24. Pour preuve, la reprise des commandes ...

ESSILORLUXOTTICA: VENTAS 1T’24 (ANÁLISIS BANCO SABADELL)

Rdos. 1T'24 vs 1T'23: Ventas: 6.335 M euros (+3,0% vs +3,5% BS(e) y +3,2% consenso).

Warehouses De Pauw 1Q24 Results, pro-active hedging lowers cost of deb...

GRI 1Q24 came slightly above our expectation, but the EPRA EPS was bang in line. A remarkable metric is the decline in Cost of Debt from 1.9% to 1.7% against a backdrop of rising interest rates. WDP “over-hedged” its debt in anticipation of its investment program and raised capital. WDP repeated the FY24 EPRA EPS guidance of 1.47, slightly above our 1.46 expectation. The 5% expected yoy growth is impressive as WDP issued 5.9% new shares last November. Expired contracts (100k Sqm GLA) were revie...