Report
Jean-Baptiste Rouphael ...
  • Marc Lavaud
  • Sven Edelfelt

ODDO BHF Small & MIDCAP MORNING NEWS - 08/11/2022

Forsee Power est une société française spécialisée dans les systèmes de batteries lithium destinés à certains segments de la mobilité électrique. Grâce à un positionnement pertinent sur des marchés de taille intermédiaire à forte valeur ajoutée, le groupe surfe sur une trajectoire de croissance attractive (TMVA 2022-27 CA +38%e) et dispose d’un pipe commercial conséquent (~1.5 Md€). Pour autant, dans un contexte d’approvisionnement qui reste complexe, le breakeven EBITDA semble diffic...
Underlyings
2CRSI SA

2Crsi SA. 2Crsi SA is a France-based company, which serves as a manufacturer of server solutions and other data storage device wholesaler. Its portfolio of solutions includes Data Centers, which provides customers with smarter storage; Independent Software Vendors (ISV), which enables users to create solutions that optimize customers' data experience; Industries, which provides information technology (IT) equipment for a number of industries, including the aerospace, petroleum, oil & gas and healthcare sectors, among others. Additionally, 2Crsi manufactures a range of products, which includes servers, storage solutions, converged platform, appliances and micro clusters. Its customers include OVH, Free, Dassault Group, CGG Veritas, and many independent software vendors, data centers, distributors, and other businesses, among others.

ADVA AG Optical Networking

Adva Optical Networking is a holding company. Through its subsidiaries, Co. is engaged in the development, production and marketing of optical and Ethernet-based networking solutions to telecommunications carriers and enterprises to deliver data, storage, voice and video services. Co.'s optical transmission solutions are based on Wavelength Division Multiplexing (WDM) technology. With WDM, multiple data streams are transmitted over a single optical fiber by assigning each stream to a different wavelength. Co. also provides Ethernet-optimized transmission solutions for fiber-based networks used to interconnect enterprises and mobile network base stations with carrier networks.

ALD SA

ALD is a service leasing and vehicle fleet management group with a fleet of more than 1,375,000 vehicles in 41 countries. Under a full-service lease, the client pays the leasing company a regular monthly lease payment to cover financing, depreciation of the vehicle and the cost of various services provided in relation to the use of the vehicle (such as maintenance, replacement car, tyre management, fuel cards and insurance). Fleet management services include the provision of outsourcing contracts to clients under which the vehicle is not owned by Co., but is managed by Co. and for which the client pays fees for the various fleet management services provided.

Altarea SCA

Altarea Cogedim is a real estate investment trust and development company. Co. is an active operator in the three main segments — retail, residential & office-hotels property — with the ability to design, develop, market & manage custom-tailored real estate products. In the Retail segment, Co. is active in real estate investment, development, asset management, providing services to third-party customers. In the Residential segment, Co. is a residential property developer. In the Office Property segment, Co. is a global operator active in all commercial property formats: high-rise buildings, business districts, corporate headquarters, renovation projects, green districts & luxury hotels.

B&S Group S.A.

B&S Group SA is a Luxembourg-based company, which serves as a distributor of consumer goods. The Company acts as a source supplier to a number of channels and specialized markets. B& Group SA operates within three segments: The HTG Segment, which purchases products in bulk on an ad hoc basis from manufacturers, wholesalers, distributors and international retail chains, as well as provides suppliers the opportunity to dispose of stock lots, closeout products and excess inventory; the B&S segment, which includes the purchase of consumer goods directly from premium brand owners and informs customers regarding strict food safety guidelines or specific cultural and national preferences and requirements, and the Retail Segment, which sources a focused selection of travel electronics from various partnerships and offers a selected assortment of the product groups sourced within the distribution activities in HTG and B&S.

Corticeira Amorim SGPS SA

Corticeira Amorim, S.G.P.S. is a holding company. Through its subsidiaries, Co. is engaged in the production, sale and distribution of cork products, including natural and agglomerated cork stoppers for the wine industry; cork stoppers and other components for the sparkling wines, spirits and champagne industry; cork plank and other products resulting from the processing of cork and used in other segments of the cork industry; floor and wall coverings; composition and granulated corks with several technical and industrial applications; cork with rubber; and expanded pure agglomerated and regranulated corks for technical, acoustic and vibration insulation.

Elmos Semiconductor SE

ELMOS Semiconductor is engaged in the development, manufacture and distribution of microelectronic components and system parts (application specific integrated circuits or, in short: ASICs) and technological devices with similar functions.Co. divides its activities into: medical technology, semiconductor, which is engaged in the sale of automotive electronics and supplying semiconductors e.g. for applications in household appliances, photo cameras, installation and building technology, and machine control systems; and micromechanics, which is engaged in the sales of product containing micro-electro-mechanical systems which are for the most part silicon-based high-precision pressure sensors.

Gestamp Automocion S.A.

Gestamp Automocion SA. Gestamp Automocion SA is a Spain-based company primarily engaged in the auto parts manufacture. It focuses on the design, development and production of metal components and structure systems for the automotive industry. The Company's products portfolio includes skin panels and closure parts, structural and body components, chassis, bumpers and dashboard crossbeams, among others. The Company's customers include Volkswagen, Renault-Nissan, PSA, Daimler, General Motors and BMW, among others. The Company is a parent of the Gestamp Automocion Group, a group, which comprises a number of subsidiaries with operations established in North and South America, Europe and Asia. The Company is controlled by Acek Desarrollo y Gestion Industrial SL.

Imerys SA

Imerys is engaged in the production and the processing of minerals. Co.'s operations can be divided into four business groups: Minerals for Ceramics, Refractories, Abrasives and Foundry (minerals mainly for floor tiles, sanitaryware, porcelain, mobile energy as well as high-temperature and abrasive industries); Performance and Filtration Minerals (plastics, rubber, coatings, sealants and adhesives, health, beauty and filtration of nutrition liquids); Pigments for Paper (filler and coating products for paper) and Materials and Monolithics (construction materials in clay and slate and monolithic products and solutions for high-temperature industries).

ISS A/S

ISS is a Facility Services company based in Denmark. Co.'s focus of operations is on providing its customers a full range of facility services required to meet each customers needs. Co. offers a wide range of services such as: Facility Management, Cleaning Services, Support Services, Property Services, Catering Services and Security Services. Co. maintains operations in more than 50 countries across Europe, Asia, North America, Latin America and Pacific, serving public and private sector customers in business services and information technology, manufacturing, healthcare, retail, transportation and infrastructure, energy, leisure, food and beverage, pharmaceutical, and other sectors.

MedinCell SA

Medincell SA. Medincell SA is a France-based manufacturer of biological products and pharmaceutical preparations. The Company is focused on the development of therapeutic solutions with worldwide access. The Company works on both for-profit and non-profit projects, in collaboration with partners ranging from pharmaceutical corporations to physicians, from biotechnology firms to academics and foundations. Its range of products consists of three products in development phase: mdc-IRM, a subcutaneous injection in phase III clinical study for the treatment of schizophrenia; mdc-CWM, an intra-articular injection in phase II clinical study for the treatment of post-surgical pain and inflammation; mdc-TJK, a subcutaneous injection for the treatment of schizophrenia, as well as a number of other products that are in the research phase, such as mdc-WWM, which is a subcutaneous injection for contraception, and mdc-ELK, a subcutaneous injection for the treatment of depression, among others.

Salzgitter AG

Salzgitter is a holding company. Through its subsidiaries, Co. organized its businesses into five divisions. The Steel Division manufactures steel and special steels. The Tubes Division is involved with the manufacture of line pipes, HFI-welded pipes, precision tubes and stainless steel tubes. The Trading Division operates a European sales network as well as trading companies and agencies worldwide. The companies in the Services Division provide services such as data processing, telecommunications services, scrap dealing, the handling and storage of bulk cargo, transportation, and other services. The Technology Division operates in the filling and packaging technology segment.

Schaeffler AG

SFC Energy AG

SFC Energy provides fuel cell generators for off-grid power applications, low and medium voltage electrical machine power products, instrumentation and measurement solutions, gas and flame detection safety systems as well as supervisory control and data acquisition solutions. For the power electronic market, Co. provides high-power electronic components, external and internal converters, switch mode power supplies, and special coils. For the defence and secutiry market, Co. provides portable power solutions that soldiers can use to run the devices they carry while on dismantled deployment. For the consumer market, Co. provides fuel cells used in hybrid operationalong with a solar module.

TKH Group N.V. Cert

TKH Group creates and supplies Telecom, Building and Industrial Solutions. Telecom Solutions develops, produces and supplies systems ranging from outdoor infrastructure for telecom and CATV networks through to indoor home networking applications. Building Solutions develops, produces and supplies solutions in the field of electro-technology ranging from applications within buildings through to technical systems that - combined with software - provide solutions for the care and security sectors. Industrial Solutions develops, produces and supplies solutions ranging from specialty cable, "plug and play" cable systems through to integrated systems for the production of car and truck tires.

Vicat-Ciments Vicat SA

Vicat specializes in the production and marketing of cement, ready-mixed concrete and aggregates. Co. is also engaged in other activities which are: transport brokering (transporting materials and merchandise to large work sites) and contract work, production of prefabricated concrete products, fabrication of building products and paper. Co.'s business is divided into four segments: Cement, Ready-Mixed Concrete, Aggregates and Other Products and Services. Co.'s activities are conducted in eleven countries across Europe, North America Asia, Africa and the Middle East such as: France, U.S.A., Italy, Switzerland, Turkey, Egypt, Senegal, Mali, Mauritania, Kazakhstan and India.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Jean-Baptiste Rouphael

Marc Lavaud

Sven Edelfelt

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