Credit Morning 07/16/2025

Renault lowers its 2025 targets after a very disappointing end to the first half|Ontex Q2 25 early results release: Revenue and margin decrease in a weaker than expected market|Loxam is issuing a new bond maturing in February 2031|Finnair: weaker-than-expected results and guidance|

Morning Crédit 16/07/2025

Renault abaisse ses objectifs 2025 après une fin de S1 très décevante|Ontex Q2 25 early results release: Revenue and margin decrease in a weaker than expected market|Loxam lance le placement d’une nouvelle obligation à échéance en février 2031|Finnair: weaker-than-expected results and guidance|

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 07/16/2025

Ontex FIRST LOOK: Profit warning

Ontex issued disappointing 2Q results, with adj EBITDA down 37%, and issued a considerable profit warning on FY25 adj EBITDA, revising down guidance by c. 13% (midpoint of range). Whilst the company is expecting improving momentum in 2H on the end of customer destocking and the ramp-up of new contracts, today's news is clearly disappointing. We will lower our forecasts significantly and expect a negative share price reaction today.

JDE Peets New beans have been planted, but harvest is still a few years away

On July 1st, JDE Peet's launched its new “Reignite the Amazing” strategy. The strategy was presented by the newly appointed CEO & CFO and aims to increase the focus on 12 core brands through three big bets. This should allow the group to streamline its operations and create simplicity. Although already communicated previously, the CMD marks an official shift in capital allocation priority from M&A towards shareholder remuneration. Together with the decline in green bean prices from the 1Q25 peak, this has triggered a rally in the share price over recent months. As most of the triggers highligh...