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Ana Arjona-Martinez ...
  • Antonio Rodriguez Vicens

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 21/03/2023

Despite CCEP’s various growth initiatives, which we thoroughly discuss in this note, we believe both CCEP FY23 guidance and FY23 consensus reflect a blue-sky scenario that does not take into account the normalisation of CCEP’s core market (a return to a market similar to 2019 in Western EU, which has historically been a low volume-growth market) and uncertainties surrounding API, which is still being integrated. In addition, we believe inflation is putting pressure, both on consumers’...
Underlyings
Aeroports de Paris SA

Aeroports de Paris is the airport authority that owns and manages the fourteen civil airports and airfields in the Ile-de-France (Paris) area. Co. owns and operates the three main airports of the Ile de France region (Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget), 10 general aviation airfields and the Issy-les-Moulineaux heliport. In the three main airports, Co. provides facilities to accommodate passengers, airlines and cargo and postal services, and offers a range of services. Co.'s activities are divided into five business segments: Aviation, Retail and Services, Real Estate, Airport Investments and Other Activities.

COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN

RWE AG

RWE is an electricity and gas company. The Conventional Power Generation segment consists of the activities of RWE Power, Essent and RWE npower. The Supply/Distribution Networks Germany segment supplies electricity, gas and heat. The Supply Netherlands/Belgium segment comprises the activities of Essent in the Netherlands. The Supply United Kingdom segment comprises the operations of RWE npower. The Central Eastern and South Eastern European segment contains activities in the Czech Republic, Hungary, Poland, Slovakia, Turkey and Croatia. The Renewables, Upstream Gas & Oil and Trading/Gas Midstream segments include the activities of RWE Innogy, RWE Dea and RWE Supply & Trading, respectively.

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
Ana Arjona-Martinez

Antonio Rodriguez Vicens

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