reports
- Benoit Valleaux
- Roland Pfaender
- MBA
- CFA
- CCRA
SCOR : Brisk momentum in P&C, but deterioration in US mortality
>Net income in Q1 below the consensus and a shade above our forecast - Scor reported its Q1 2024 results last Friday. Insurance revenues came to € 4,113m (+2.0% vs consensus) benefiting from brisk growth in life reinsurance (+6.6% reported), with growth in P&C (+2.6% reported) was lower than expected. Insurance service result was far below forecasts in P&C and life reinsurance at € 253m (-47%) vs the consensus of € 352m and our forecast of € 327m, but with brisk under...
- Olfa Taamallah
- Yan Derocles
Ryanair : A solid FY release of a -€ 700m share buyback highlights the...
>Solid FY 2024 - € 700m share buyback announced - Ryanair has just announced solid FY to end-March 2024 results. Profit after tax comes in at € 1.917bn, up 34% y-o-y vs a consensus expectation of € 1.905bn on the back of strong yield development up 21% and ancillaries per pax up 3%. Unit cost ex fuel were up 8% y-o-y, slightly ahead of our expectation of 7% growth.FCF was strong at € 766m and boosted by delayed Boeing deliveries. Based on year-end net cash of € ...
Déclaration du nombre total de droits de vote et d’actions composant l...
PARIS--(BUSINESS WIRE)-- Regulatory News: Conformément aux articles L.233-8 II et R.225-73 I du Code de Commerce ainsi qu’à l’article 223-16 du Règlement Général de l’Autorité des Marchés Financiers (RGAMF), Axway (Paris:AXW) informe ses actionnaires qu’au 30 avril 2024 : Le nombre total d’actions composant le capital social de la société est de 21 633 597. Le nombre total de droit de vote théoriques est de 36 764 853. Il est calculé sur la base de l’ensemble des actions auxquelles sont attachées un droit de vote, y compris les actions qui en sont privées et sert de base pour la déclar...
- Stephane Foucaud
GeoPark Limited (NYSE: GPRK): Dividend distribution boosted by share b...
• 1Q24 production had been reported previously. GeoPark held US$151 mm in cash at the end of March. Adjusting for a negative working capital movement of ~US$20 mm in 1Q24, this would have been in line with our forecast. • Gross production at CPO-5 of ~30 mbbl/d continues to be very high. The Cisne 1 exploration well is expected to reach TD by the end of May. GeoPark will then drill another exploration well on the block. • Given the reduced share count following the share buyback resulting from t...
- Guy Sips
- Kristof Samoy
- Sharad Kumar S.P
- Thibault Leneeuw
- Wim Hoste
- Wim Lewi
Wind Energy : A deep-dive into the wind sector The wind is changing, i...
In a new note focusing on Wind Energy, we aim to provide a broad insight into the value chain, the risks associated with it and the positioning of the companies in the sector. The current market environment presents both opportunities and challenges for wind energy companies. The sector has faced multiple headwinds in the past, such as inflation, rising interest rates and supply chain issues, which resulted in a substantial decline in the stock prices of wind companies. However, there's a lot ...
- Guy Sips
Jensen-Group FIRST LOOK : A good start to 2024
Jensen-Group 1Q24 revenues were up y/y 11.6% to € 109.1m. The 1Q24 order intake increased y/y 34.4% to €114.9m. As a result Jensen-Group called this “a good start to 2024”. 1Q24 EBIT came in at € 11.2m (€ 11.4m in 1Q23) resulting in 10.3% 1Q24 EBIT-margin (11.7% in 1Q23). 1Q24 net result amounted to € 11.1m (€ 1.15 EPS). We maintain for the moment our Accumulate rating and € 40 Target Price as these numbers are ahead of our FY24 forecasts of 8.8% FY24E sales growth and 9.5% FY24E EBIT-margin. ...
- Jean Danjou
ODDO : Monday review – luxury sector
>Facts, outlook and perception - Facts: we now have a complete picture of Q1 top line trends. The perfect symmetry in trends, between the two heavyweights dominating soft luxury on the one hand (LVMH Fashion & Leather) and hard luxury on the other (Richemont Jewellery Maisons), was once again confirmed with Jewellery Maisons growing as anticipated +3% y-o-y at cc close to the +2% growth reported for F&L. The symmetry goes a long way: growth versus 2019 ended up at 113...
Teckning av aktier med stöd av teckningsoptioner av serie TO7 inleds i...
Teckning av aktier med stöd av teckningsoptioner av serie TO7 inleds idag, 20 maj 2024 Idag, den 20 maj 2024, inleds nyttjandeperioden för teckningsoptioner av serie TO7 i Terranet AB (publ) (”Terranet” eller ”Bolaget”). Nyttjandeperioden pågår till och med den 3 juni 2024. Varje teckningsoption av serie TO7 berättigar innehavaren till teckning av en (1) ny B-aktie i Bolaget till ett pris om 0,073 SEK per aktie. Investerat belopp avrundas uppåt till två decimaler. För att teckningsoptionerna inte ska förfalla utan värde krävs att innehavaren aktivt tecknar aktier senast den 3 juni 2024, alt...
Quadient Positioned as Leader in 2024 SPARK Matrix for Accounts Receiv...
Quadient Positioned as Leader in 2024 SPARK Matrix for Accounts Receivable Applications for Third Consecutive Year Quadient AR solution lauded for comprehensive functional capabilities, strong customer value proposition and high ratings for customer impact and technology excellence Quadient (Euronext Paris: QDT), a leader in helping businesses create meaningful customer connections through digital and physical channels, today announced that for the third year in a row it has been named a Technology Leader in the by independent analyst firm Quadrant Knowledge Solutions. SPARK Matrix repo...
Quadient nommée Leader Technologique pour la troisième année consécuti...
Quadient nommée Leader Technologique pour la troisième année consécutive dans la SPARK Matrix 2024 pour les applications de gestion des comptes clients La solution Quadient Comptes Clients saluée pour ses nombreuses fonctionnalités, sa proposition de valeur et ses notes élevées en impact client et excellence technologique Quadient (Euronext Paris : QDT), un leader des solutions d’entreprise visant à faire de chaque interaction client – via un canal physique ou digital – une expérience riche et personnalisée, a annoncé aujourd'hui avoir été nommée Leader Technologique pour la troisième anné...
Form 8.5 (EPT/RI) - Alpha Financial Markets Consulting Plc **amendment...
Form 8.5 (EPT/RI) - Alpha Financial Markets Consulting Plc **amendment** FORM 8.5 (EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Name of exempt principal trader:Investec Bank plc(b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offereeAlpha Financial Markets Consulting plc(c) Name of the party to the offer with which exempt...
Moody's Ratings upgrades ratings on notes from two Allied Credit ABS T...
Moody's Ratings (Moody's) has upgraded the ratings on ten classes of notes issued from two Allied Credit ABS Trust transactions. IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. SUCH USE WOULD BE RECKLESS AND INAPPROPRIATE. SEE FULL DISCLAIMERS BELOW...
- Ece Mandaci
- Erol Danis
- Koray Pamir
- Zekai Unal
Turkish Equity Research - Non-Financials 1Q24 Preview
1Q24 earnings season will gain momentum this week, as 4Q23 earnings season is completed last week for the companies under our coverage: This year, the earnings season for Turkish corporates has seen a convergence of both 4Q23 and 1Q24 results. 1Q24 earnings season for companies under our coverage is set to last until June 21st. In this report, our projections include inflation accounting. Relatively strong performers: Autos will continue to report decent set of results, as the auto demand in th...
- Louis Boujard
- CFA
- Philippe Ourpatian
Engie : Q1 points to a good year in 2024
>Earnings higher than expected on volatile divisions - On Friday Engie reported Q1 2024 results that beat expectations. EBITDA came to € 5.4bn, (-0.7% organic), beating our estimate of € 5.1bn. EBIT was down 1.6% on an organic basis to € 4,166m vs € 3,835m expected. By division, the renewable energies segment generated € 712m (+4.3% organic vs ODDO BHF € 800m), thanks to good hydropower conditions in France and Portugal but affected by the fall in prices and the CNR ...
QBE Insurance Group Ltd: 7 directors
Seven Directors at QBE Insurance Group Ltd bought 6,784 shares at 17.580AUD. The significance rating of the trade was 67/100. 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 ye...
Form 8.5 (EPT/RI) - Abrdn European Logistics Income Plc
Form 8.5 (EPT/RI) - Abrdn European Logistics Income Plc FORM 8.5 (EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Name of exempt principal trader:Investec Bank plc(b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offereeabrdn European Logistics Income plc(c) Name of the party to the offer with which exempt principal trader is...
Exor Press Release - Periodic Report on the Buyback Program
Exor Press Release - Periodic Report on the Buyback Program Amsterdam, 20 May 2024 EXOR N.V.: PERIODIC REPORT ON THE BUYBACK PROGRAM Exor N.V. (AMS: EXO) (“Exor” or the “Company”) announces that, under the first tranche of the share buyback program of up to €125 million announced on 15 April 2024 (the “first tranche”), the Company has completed the following transactions on Euronext Amsterdam, CBOE DXE and Turquoise Europe: EURONEXT AMSTERDAM Trading DateNumber of ordinary shares purchasedAverage price per share excluding fees (€)Total consideration excluding fees (€)13 May 20244,252102....
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