Report
Amira Manai ...
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Hana Souissi
  • Jeremy Garnier
  • Maissa Keskes
  • Martin Marandon-Carlhian
  • Nada Afli
  • Nadine El Ouni
  • Nicolas David
  • Nicolas Thorez
  • Nour El Houda Hammami
  • Oussema Denguir
  • Roland Pfaender,MBA,CFA,CCRA
  • Salma Bouraoui
  • Slim Bouasker
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 11/09/2020

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Underlyings
Aedifica SA

Aedifica is a property company, which is specialized in residential real estate. Co.'s portfolio has a superstructure of more than 225,911 sq. m as of June 30 2010. It owns: residential or mixed buildings in Belgian cities with classical leases; buildings with furnished apartments buildings in the heart of Brussels with shorter term leases; senior houses and serviceflats with very long term and triple net leases; and hotels. Co. invests: in existing and already leased buildings; and in projects with future completion. Co.'s activities can be divided into four segments: Residential or mixed buildings; Furnished apartments buildings; Senior houses; and Hotels and others.

Aegon NV

AEGON is a holding company. Through its subsidiaries, Co. provides life insurance and pensions operations in more than 20 countries in the Americas, Europe and Asia and is also active in savings and asset management operations, accident and health insurance, general insurance and to a limited extent banking operations. Co. operates through the following segments: the Americas (which includes the U.S.A., Mexico and Brazil); the Netherlands; the United Kingdom; Central & Eastern Europe; Spain and Portugal; Asia and Aegon Asset Management.

Ageas SA/NV

Ageas is an insurance company engaged in providing a range of life and non-life products distributed through a variety of channels. Co. focuses on helping its customers to mitigate risks related to property, casualty, life and pensions. Co. serves its customers through a combination of wholly owned subsidiaries, equity associates and partnerships, with financial institutions and distributors in Belgium, the U.K., Luxembourg, Italy, Portugal, Turkey, France, China, Malaysia, India, Thailand and Hong Kong. Co. is organized into five operating segments: Belgium, U.K., Continental Europe, Asia, and General Account.

Allianz SE

Allianz is engaged in the provision of a range of insurance and asset management products and services. Co. has three business segments: Property-Casualty, which provides insurance products to both private and corporate customers, including motor liability and own damage, accident, general liability, fire and property, legal expense, credit and travel insurance; Life/Health, which provides life and health insurance products including annuities, endowment and term insurance, unit-linked and investment-oriented products and private health and supplemental health and long-term care insurance; and Asset Management, which provides institutional and retail asset management products and services.

Assicurazioni Generali S.p.A.

Assicurazioni Generali is the parent company for The Generali Group (the Group), an insurance and financial services provider. The commercial offer is composed of savings and pure risks policies, which constitute the majority of the portfolio, which includes protection and pension funds. In the non-life sector the Group is focused primarily on the retail market. In addition, through the Europ Assistance Group, Co. is engaged in services in motor, travel, health, home and family. The Group has also expanded its business from insurance to a range of asset management, property and financial services.

AXA
AXA

AXA is a holding company. Through its subsidiaries, Co. is engaged in insurance and assets management. Co. operates primarily in Europe, North America, the Asia-Pacific Region and, to a lesser extent, in other regions including the Middle East, Africa, and Latin America. Co. has five operating business segments: Life & Savings, Property & Casualty, International Insurance, Asset Management, and Banking. In addition, various holding companies within the AXA Group conduct certain non-operating activities. As of Dec 31 2013, Co. had total assets of Euro757,143,000,000.

Boiron SA

Boiron manufactures and markets homeopathic medicines. Homeopathic medicines are prepared from vegetable, animal, mineral, or chemical substances, which are diluted. Co. sells three types of products in 59 countries: Non-proprietary homeopathic medicines, OTC family medication specialties, and Other products. There are two large families of homeopathic medicines: Those associated with precise therapeutic indications and dosage, and those that do not mention a therapeutic indication or dosage. Co. supports homeopathy education and training organizations for healthcare professionals. Some of Co.'s brand names include Oscillococcinum®, Stodal®, S?datif PC®, and Coryzalia.

Chargeurs SA

Chargeurs SA is a France-based company, which provides customizable specialty material solutions. The Company and its subsidiaries operate in four sectors: Protective Films, Fashion Technologies, Museum Solutions and Luxury Materials. Protective Films designs, produces and markets technical solutions to protect the quality of steel, aluminum, plastic or other surfaces during the transformation process, as well as film application machines. Fashion Technologies produces and markets linings for clothing. Museum Solutions includes the industrial divisions Senfa, specialized in the functionalization of technical textiles, and Chargeurs Creative Collection, specialized in the provision of services to cultural institutions. Luxury Materials manufactures and markets combed wool ribbons. The Company is active globally.

CNP Assurances SA

CNP Assurances is an insurance company. Co. designs, develops, distributes and manages savings, pension & personal risk, and term creditor products. Co. offers savings products and insurance against the risks of everyday life to its customers. Co.'s operations are organized along three business segments. The Savings business concerns products enabling policyholders to build up capital which they can cash in. The Pensions business concerns products designed to enable policyholders to receive an annuity or lump sum on retirement. The Personal Risk business includes products enabling policyholders to insure against the risks of death, accident or illness, property damage or liability claims.

Coface SA

Coface is a holding company that performs its activities through its primary operating subsidiary, Compagnie franASSaise d'assurance pour le commerce extA(c)rieur and its subsidiaries. Through its subsidiaries, Co. is a provider of credit insurance to businesses with solutions to protect them against the rist of client insolvency on both domestic and export markets.

Dufry AG

Dufry is a travel retail company. Co. operates over 1,650 shops worldwide. Co.'s shops are either duty free or duty paid shops, located in airports. Co.'s product categories include: Perfumes and Cosmetics; Confectionery, Food and Catering; Wine and Spirits; Watches, Jewelry and Accessories; Tobacco goods; Fashion, Leather and Baggage; Literature and Publications; Electronics; and Toys, Souvenirs and other goods.

Econocom Group SE Class D

Econocom Group specializes in the management of IT and telecom infrastructures for businesses throughout Europe, U.S. and China. Co. designs and implements products and services for SMEs, corporations or public authorities. It operates through four complementary businesses: IT products and solutions, distributed infrastructures (outsourcing, maintenance and consulting), telecom services and administrative and financial management of ICT assets. Co.'s business segments are as follows: IT Financial Services; Managed Services; Products and Solutions; and Telecom Services.

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.

Esker SA

ESKER and its subsidiaries are engaged in the design and production of software applications. Co. operates corporate resource access software such as applications and databases for workstations. Co. has three major product groups: Host Access, DeliveryWare and Fax Server. Host Access products allows users to access applications and databases stored on different servers from their own workstations. DeliveryWare responds to the need of companies for automatic management document delivery. Fax Server allows the user to send a fax directly from their workstation.

Hannover Rueck SE

Hannover is global reinsurance company. Co. operates through two business groups, Non-Life Reinsurance and Life and Health Reinsurance. Non-Life Reinsurance provides structured reinsurance solutions. Co.'s target markets are Germany and North America, and its specialty lines include Marine, Aviation, Credit and Surety, Structured Reinsurance, Insurance-Linked Securities and the United Kingdom, London market and direct business. Non-Life Reinsurance's Global Reinsurance consists of treaty reinsurance worldwide, facultative reinsurance and global catastrophe business. Life and Health Reinsurance provides solutions for life and health reinsurance and financial solutions.

Indra Sistemas S.A. Class A

Indra Sistemas is engaged in the design, development, manufacture, assembly, repair, and installation of computer software and applications. Through its subsidiaries, Co. is engaged in consulting, graphic design and multimedia, web design and marketing, internet development and electronic trade, systems integration and hosting geared business to business and business to consumer, as well as in internet financing and electronic marketing. Co. serves defense and security, transport and traffic, energy and industry, telecom and media, finance and insurance, and public administration and healthcare markets. Co. operates primarily in Europe, the United States, Canada, and Latin America.

Lanson-BCC

Lanson-BCC produces, sells and markets champagne. Co. owns a portfolio of houses which are: Champagne Lanson (international market), Champagne Boizel (French-mail order, wines distributed in the traditional sector for international markets), Champagne Chanoine Freres (mass retail market), Champagne Philipponnat and Champagne De Venoge (selective retail markets), Champagne Alexandre Bonnet (traditional sectors), Maison Burtin (mass retail supplier, distributed through traditional networks). Co.'s brands are Boizel, Chanoine Freres, Tsarine, Philipponat, Clos des Goisses, Abel Lepitre, De Venoge, Alexandre Bonnet, Lanson, Besserat de Bellefon, Alfred Rothschild.

Munich Reinsurance Company

Muenchener Rueckversicherungs-Gesellschaft is engaged in reinsurance, primary insurance and asset management. Co.'s international life business is written in the Life Division. The Global Clients and North America division manages accounts with international insurance groups. The Europe and Latin America division manages property-casualty business in Europe, Latin America and the Caribbean. The Germany, Asia Pacific and Africa division conducts property-casualty business in Germany, Africa, Asia, Australia and the Pacific Islands. The Special and Financial Risks division manages the classes of credit, aviation and space, agriculture, enterprise and contingency risks.

Phoenix Group Holdings plc

Phoenix Group Holdings is a closed life and pension fund consolidator. Co. manages manage life insurance funds which no longer actively sell new life or pension policies and which run-off gradually over time. Co. has one reportable segment, comprising its investment in and loans to/from Co.'s entities. Its revenue principally comprises the dividend and interest income derived from these investments and loans. As of Dec 31 2014, Co. had approximately 5.0 million policyholders and about £52.30 billion of total life company assets.

Scor SE

SCOR is a holding company. Through its subsidiaries, Co. is engaged mainly in reinsurance. Its customers are insurers and large corporations. Co. is engaged in life reinsurance through SCOR Global Life SE and non-life reinsurance through SCOR Global P&C SE. In the life reinsurance business, Co. offers reinsurance for individual and group life insurance, long-term care, substandard risks, critical illness and financing products. The non-life reinsurance business comprises traditional reinsurance business; Treaty, Business Solutions, and Specialty Lines. In addition, Co. through SCOR Global Investments SE, manages, directly or indirectly its global investment portfolio.

Swiss Re AG

Swiss Re is engaged in wholesale reinsurance, insurance and risk transfer solutions. Co.'s clients include insurance companies, corporations, the public sector and policyholders. Co.'s business units include: Property & Casualty Reinsurance, which includes the business lines property and casualty (including motor); Life & Health Reinsurance, which includes the life and health line of business; Corporate Solutions, which serves mid-sized and large corporations, with product offerings ranging from property and casualty insurance to customised solutions; and Admin Re®, which provides risk and capital management solutions.

Talanx AG

Talanx is a financial and management holding company. Co. is internationally active in primary insurance and reinsurance and in both property/casualty and life business. In the more than 100 years of Co.'s history, Co. has evolved from a single-line liability insurer for industry into a global insurance group with a focus on the industrial and retail lines and reinsurance business. Through its subsidiaries, Co. is engaged in five business segments: Life/Health Reinsurance; Non-Life Reinsurance; Retail Germany; Industrial Lines; and Retail International.

Vranken-Pommery Monopole SA

Vranken-Pommery Monopole is engaged in the production, marketing and distribution of alcoholic beverages, primarily champagne, porto and pink wine (Rose). Co.'s brands are Pommery, Vranken, Heidsieck & Cdeg Monopole and Charles Lafitte for champagne; Sao Pedro, Rozes et Terras do Grifo for Porto; and Listel and Chapelle Gordonne et Billette for pink wine (Rose). Co.'s activities can be divided into three segments: Vineyard which focuses on managing Co.'s vineyard and wine-producing activities; Production of champagne, porto and pink wine; and Distribution and Marketing of products.

Zurich Insurance Group Ltd

Zurich Insurance Group is a multi-line insurance company. Co. provides a range of general insurance and life insurance products and services, serving individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries. Co.'s business segments include: General Insurance, which provides property and casualty insurance and services, risk insights; Global Life, which provides protection, savings and investment solutions; and Farmers, which provides management services related to property and casualty insurance.

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
Amira Manai

Benoit Valleaux

Christophe-Raphaël Ganet

Fatma Agnès Hamdani

Fehmi Ben Naamane

Florent Laroche-Joubert

Hana Souissi

Jeremy Garnier

Maissa Keskes

Martin Marandon-Carlhian

Nada Afli

Nadine El Ouni

Nicolas David

Nicolas Thorez

Nour El Houda Hammami

Oussema Denguir

Roland Pfaender,MBA,CFA,CCRA

Salma Bouraoui

Slim Bouasker

Stephane Houri

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