Report
Stefano Toffano

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 04/23/2026

Underlyings
468 SPAC I SE

Atresmedia Corporacion de Medios de Comunicacion SA

Atresmedia Corporacion De Medios De Comunicacion is a television and radio broadcasting company based in Spain. Co. is engaged in the indirect management of television and radio services, which include the broadcasting, creation, production and distribution of television and radio programming, and the sale of advertising time. Group companies mainly carry on business activities relating to the production, copying and broadcasting of sounds and images, and TV and Internet home shopping. Co. provides National and World Digital Television Services. Co. is the parent company of Grupo Antena 3.

AZELIS GROUP NV

Basic-Fit NV

Basic-Fit NV is an operator of fitness centers based in the Netherlands. The Company operates more than 350 fitness clubs in the Netherlands, Belgium, France and Spain.

Corbion NV

Corbion is an internationally operating company engaged in the development, production, sale and distribution of bakery supplies and food ingredients. Co. is engaged in the Bakery Supplies and Lactic Acid business. Co.'s operations are divided into two segments: Bakery operations and Lactic acid operations. Co.'s Bakery operations comprise the development, production and sale of bakery ingredients and products. Co.'s Lactic acid operations involve the production of lactic acid and lactic acid derivatives which are used in food, pharmaceutical and technical products. Co. operates mostly in Europe and North America. Co.'s brands are Waldkorn, Kate's cakes, Purac, Carel, MeisterMarken.

Eramet SA

Eramet is a mining and metallurgical group, which specializes in the extraction, production and marketing of non-ferrous metals, their chemical derivatives, alloys and superalloys, and parts. Co.'s operations are divided into three divisions: Nickel division which focuses on nickel and its derivative applications; Manganese division which focuses on manganese alloys, manganese chemical derivatives and provides recovery and recycling services of metals contained in oil-industry catalysts, electric batteries and acid solutions; and Alloys division which produces and sells special high-performance steels, superalloys and pre-machined parts based on these materials or aluminium and titanium.

Fashionette AG

FlatexDEGIRO AG

Flatex AG, formerly known as Fintech Group AG, is a Germany-based company engaged in the financial technology sector. The Company divides its business into two operational segments: Securities Trading and Financial Services (ST & FS) and Transaction Processing and White-Label Banking Services (TP & WLBS). The ST & FS segment includes online brokerage in the business-to-consumer (B2C) sector in Germany (on trading platforms such as flatex.de, vitrade.de) and Austria (flatex.at). The operations are conducted by the subsidiaries flatex GmbH and ViTrade GmbH. The TP & WLBS segment includes the business-to-business (B2B) activities of subsidiaries XCOM AG and FinTech Group Bank AG that focus on research and development in the area of financial technology and provide back-end execution of securities transactions for the Company's own platforms and for other banks, as well as offer business process outsourcing services.

FUGRO NV

Gaztransport & Technigaz SA

Gaztransport & Technigaz is an engineering company specialized in membrane containment systems for liquefied gas transport and storage. Co. designs and markets technologies which combine operational efficiency and safety to equip liquefied natural gas (LNG) carriers, LNG floating platforms and multi-gas transport vessels. Co. also provides solutions for onshore storage tanks and the use of LNG as a fuel for vessels propulsion as well as a wide range of services in engineering, consultancy, training, maintenance assistance and technical studies at each stage of the liquefied gas chain.

HighCo SA

High Co SA is a France-based marketing services group for mass-market retailers and consumer goods manufacturers. The Company offers marketing solutions, such as coupon issuing, a promotional technique that entitles the customer to a discount on a product; sampling, which consists in offering free samples to test a product; point-of sale, which ranges from shelf tags to in-store radio announcements, floor graphics and in-store field marketing; clearing, which consists of processing discount coupons and money-back offers; marketing communication agencies, which provide support for brands and retailers in their marketing campaigns, and digital services with the subsidiary, HighCo 3.0., which advises and assists clients on the integration of digital technologies for distributors and brands. The Company operates in France, Spain, United Kingdom, Poland, Russia and Turkey, among others.

ID Logistics Group

ID Logistics is an international contract logistics group that designs and implements one-stop services tailored to the specific requirements of each client. The services Co. offers combine customized architectures to allow clients to optimize their supply chain.

Interparfums

Interparfums SA. Interparfums SA, also known as Interparfums, is a French-based company engaged in the design, manufacturing and marketing of fragrances. The Company designs, produces and distributes perfumes and cosmetics under such brands as Burberry, Boucheron, Burberry Beauty, Jimmy Choo, Lanvin, Montblanc, Nickel, Paul Smith, Repetto, S.T. Dupont and Van Cleef & Arpels, Karl Lagerfeld, among others. The Company is present in Switzerland, Germany, Spain, Italy, the United Kingdom, Singapore, the United States, among others. The Company operates through the subsidiaries, including Interparfums Suisse Sarl, Interparfums Deutschland GmbH, Interparfums Srl, Interparfums Ltd, Interparfums Luxury Brands and Interparfums Singapore. As of December 31, 2013 the Company's shareholder was InterParfums Holding with 73,1% stake in the Company.

K+S AG

K+S is engaged in the chemical sector. Co. has three business segments. The Potash and Magnesium Products segment combines the production and marketing of potash fertilizers and fertilizer specialities as well as potash and magnesium compounds for technical, industrial and pharmaceutical applications. The Salt segment encompasses the production and marketing of food grade salt, industrial salt and salt for chemical use, de-icing salt and sodium chloride brine. The Complementary Activities segment bundles together recycling activities and waste disposal or reutilisation in potash and rock salt mines as well as catsan® granulation.

Nokian Renkaat Oyj

Nokian Tyres is a tyre manufacturer. Co. mainly sells its products in the aftermarket. Co. and its subsidiaries include the Vianor tyre retail chain, which provides wholesale and retail services in Co.'s primary markets. The core business units in Co. and its subsidiaries are Passenger Car Tyres, which develops, manufactures, and markets summer and winter tyres for passenger cars and delivery trucks as well as SUVs; Heavy Tyres, which focuses on special tyres; as well as Vianor, which provides tyres for all vehicles: passenger cars, vans, trucks, and heavy machinery. In addition to Nokian-branded tyres, the Vianor tyre retail chain sells other tyre brands and a variety of motoring products.

Orange Polska S.A.

Orange Polska SA is a supplier of telecommunications services in Poland. Co. provides services, including fixed-line telecommunication services, Integrated Services Digital Network, voice mail, dial-up and fixed access to the Internet and Voice over Internet Protocol. Co. is one of Poland's three DCS 1800 and GSM 900 mobile telecommunications providers. Co. provides also third generation UMTS services. In addition, Co. provides leased lines, radio-communications and other telecommunications value added services, sells telecommunications equipment, produces electronic phone cards and provides data transmission, telephone directories, multimedia services and various Internet services.

RENK GROUP AG

SAIPEM S.P.A.

STABILUS SE

STEF

STEF-TFE is a provider of transport and logistic services for food products requiring specific temperature control within Europe. Co. divides its operation into four segments: Transport in France (transportation of fresh and frozen products, transportation of seafood and organization of international transport activities); Logistics in France or STEF Logistique (logistics for fresh and frozen products for industrial players, mass retail and the food-service industry); STEF International (international activities in Spain, Portugal, Italy, Benelux, Switerland and U.K.); and Maritime activities (maritime services, passengers and freight, and maritime brokerage).

Synergie SA

Synergie is engaged in the development of human resources management, by providing services in the field of temporary work, outplacement, recruitment, consulting and training. Co. services different sectors: services and specialized sector (medical, senior employment, human services), transportation and logistics sector, industry sector, construction and civil engineering sector. As of Dec 31 2009, Co. is present in 13 countries in Europe and Canada and reports its activities geographically, in 4 areas: France, Northen and Eastern Europe, Southern Europe and Canada.

Vallourec SA

Vallourec SA is a France-based company, which specializes in the production of seamless and welded steel tube products for industrial applications. It operates through two segments: Seamless Tubes and Specialty Products. For the oil and gas industry, it designs and develops a comprehensive range of products including seamless tubes and connections for drilling operations, line pipes and well equipment. For the power generation market, it offers tubes that withstand severe temperature and pressure conditions. Its solutions enable power companies to meet the challenges of energy efficiency and reduce CO2 emissions in power plants. It also offers a wide range of tubes for petrochemical installations (refineries), for mechanical engineering applications (hydraulic cylinders and machine tools), for the automotive industry, for construction (stadiums, other complex buildings and structures) and for various other industrial sectors. It operates through Vallourec Solucoes Tubulares do Brasil.

Verallia SAS

Verallia SAS Formerly known as Verallia SASU. Verallia SASU is a France-based company, which operates as a producer of glass packaging solutions. The Company manufactures a number of jars and bottles for various markets, including the still and sparkling wine, spirits, food, as well as the beer and nonalcoholic sectors. Apart from France, the Company also operates in many countries in Western Europe, Eastern Europe and South America, among others.

Vossloh AG

Vossloh is a holding company. Through its subsidiaries, Co. in engaged in the rail technology markets. Co.'s core businesses comprise rail infrastructure products and services, rail vehicles, and components for rail vehicles and buses. Co. conducts its operations through two divisions: Rail Infrastructure and Transportation. The Rail Infrastructure division provides products and services related to the infrastructure through three business units: Fastening Systems, Switch Systems, and Rail Services. The Transportation division consists of the operations related to rail vehicles and vehicle systems/components and has two business units: Transportation Systems and Electrical Systems.

Wavestone SA

Wavestone SA, formerly Solucom SA, is a France-based company active in the information technology (IT) sector. It provides infrastructure consultancy services in the fields of telecommunications and networks, Strategy & management, IT transformation, IT Governance, IT architecture and Security & risk management. The Company operates through subsidiaries: Arcome, which offers marketing and technological innovation services for global companies in the information technology industry; Idesys, offerring consultancy services in the management and governance fields; New'Arch, which provides consultancy services in technical architecture of information systems; KLC, which offers consultancy services in information system and industrial investments for corporate clients; Cosmosbay-Vectis that offers business development and transformation consulting, and Xceed Group Ltd, which provides computer related services, among others.

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
Stefano Toffano

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