Nel: Capacity reservation agreement with Hy Stor Energy

This morning, Nel announced a multi-year capacity reservation agreement (CRA) with Hy Stor Energy, representing more than 1GW of alkaline electrolyser capacity combined over 2025/2027, for its Mississippi Clean Hydrogen Hub (MCHH) project. The project is still pending regulatory approvals, financin

Harbour Energy: 1 director

A director at Harbour Energy bought 86,050 shares at 286p 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 years clearly sho...

INVEST SECURITIES - UNIBAIL-RODAMCO : Un trimestre sans surprise mais ...

TPI India Ltd: 1 director

A director at TPI India Ltd sold 7,951,112 shares at 18.000INR and the significance rating of the trade was 74/100. 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 years clearl...

ABGSC Shipping Daily 25 April

Mixed tanker and dry bulk market, LPG down. Shipping peer group trades at P/NAV 0.83x. DNORD: Trading reset implies upside.

Slightly lower losses and CEO resigns

Deutsche Telekom : Premiers (petits) pas de T-Mobile dans la fibre

>Résultats T1 2024 : T-Mobile maintient sa surperformance - T-Mobile continue de surperformer avec l’ajout de 532 000 contrats mobile (vs AT&T 349 000 et Verizon -68,000), 4% de croissance de CA de service au T1 2024 (vs concurrents 3.3%), 8% de croissance EBITDA et 39% de croissance FCF. T-Mobile relève de 2-4% ses objectifs d’abonnés pour 2024, d’EBITDA et de FCF de ~100 M€ soit ~0.3%.T-Mobile, détenu à 51% par Deutsche Telekom et qui représente plus de 95% de ...

FlatexDEGIRO : Q1 results above expectations driven by higher-than-exp...

>Revenue +8.1% above consensus driven by commission and interest income - Q1 results overall came in above our and the consensus estimates. Revenue in Q1 increased by +35.6% y-o-y to € 123.0m which is +8.9% above ODDO BHF and +8.1% above consensus estimates of € 112.9m and € 113.8m respectively. Q1 Revenue included € 74.8m of commission income (+10.0% y-o-y), € 43.8m of interest income (+64.7% y-o-y) and € 4.3m of other income (+13.2% y-o-y). Commission income is +10....

Dassault Systemes : The de-rating seems excessive and H2 is promising

>Medidata took a toll on Q1 results - DSY had warned of a soft start to 2024, with Q1 guidance reflecting growth of 7-9% in software revenues. This was not out of excessive caution: software growth in Q1 came to +7% at cc, at the bottom end of the guidance range and 1pt below expectations because of the weakness of recurring revenues (+7% at cc vs guidance of 9-10% at cc), mainly since: i/ Medidata was down 3%, at the bottom end of management’s initial guidance range ...

Q1 first take: looks worse than it actually is

Sales below, good margins and cash flow

Cellnex : Results with no surprises maintain a healthy growth rate

>Organic growth and EBITDA both in line with expectations - Cellnex’s Q1 2024 results were in line with our estimates and with the consensus at the operating level: recurring EBITDA of € 778m vs € 777m from the consensus and € 777m for ODDO BHFe; and EBITDAaL of € 535m vs € 536m from the consensus and € 536m for ODDO BHFe. Organic growth remained strong in the tower business, at a +6.6% increase in PoPs in Q1 2024 (+6.4% in FY 2023), which was still slightly above the...

Sword Group : Solid Q1 2024 earnings. Outlook confirmed for short and ...

>Q1 2024: further robust organic growth of 16.8% and stable margin of 12% - Sword has reported robust Q1 2024 earnings close to our forecasts. Q1 sales came in at € 75.8m (vs ODDO BHF € 75.4m), up 5.3% y/y in reported terms. After adjustments for the deconsolidation of AAA, this reflected Q1 organic growth of 16.8%, or an acceleration in sequential terms (higher than we were expecting organically) and above the company’s initial budget (+15% org.). By region, this (...

Nexity : Un CA T1 en baisse de 14% - 2024 sera un point bas en termes ...

>CA T1 en recul de 14% à 770 M€, niveau cohérent avec nos attentes - Au titre de son T1, le groupe Nexity publie un chiffre d’affaires de 770 M€, -14% y-o-y soit niveau cohérent avec nos estimations (nous retenions 676.1 M€ hors activité d’administration de biens ; sur une base retraitée, notre CA serait de 765.1 M€). Par pôle d’activité, nous retenons : 1/ un CA de la promotion immobilière résidentielle de 489 M€, en baisse de 15% (impact de la baisse des réservation...

BE Semiconductor Industries : Reprise plus lente que prévu, accélérati...

>Opinion Surperformance réitérée, OC abaissé à 165 € vs 170 € - Le titre BESI était en baisse de 2% hier. Si les commandes T1 et la guidance T2 indiquent clairement une reprise cyclique plus lente que prévu, le groupe a rassuré sur sa dynamique dans l’hybrid bonding et semble en bonne position pour atteindre, voire dépasser les attentes du consensus (107 M€ vs notre estimation à 121 M€ que nous maintenons). Compte tenu d’une reprise plus faible qu’attendu au T2, nous ...

BNP Paribas : Solid Q1 results, full-year guidance confirmed

>Moderate drop in revenues despite a high comparison base in CIB - BNP Paribas reported yesterday stronger-than-expected Q1 2024 results. Revenues fell by 0.4% to € 12.48bn (vs the distributable net income base in Q1 2023), beating forecasts (consensus € 12.2bn and our estimate of € 12.37bn), whereas they fell short of expectations in Q4 2023. Adjusted for the high revenue base in FICC market activities in Q1 2023, underlying growth would have been around 3%. By busin...

Assystem : T1 2024 de bonne facture, tiré par le Nucléaire. Guidances ...

>CA T1 de 154.3 M€, en hausse de 5.5% org, légèrement au-dessus des attentes - Assystem a publié hier soir un CA T1 2024 de 154.3 M€ (vs ODDO BHF 150.7 M€), en croissance de 7.2% y-o-y en données publiées, 2% au-dessus de notre prévision initiale. Retraitée des effets périmètre (+1.6pt, contribution plus importante que prévue de L&T et Keops) et Forex (+0.1pt), la croissance organique ressort à 5.5%, légèrement supérieure à ce que nous anticipions (+4.1% org). Cette p...