Report
Martial Descoutures ...
  • Michael B. Schäfer

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/02/2022

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Underlyings
BHP Group Plc

BHP Billiton is a resources company. Co. extracts and processes minerals, oil and gas, primarily in Australia and the Americas. Co. operates four reportable segments: Petroleum, which is engaged in the exploration, development and production of oil and gas; Copper, which is engaged in the mining of copper, silver, lead, zinc, molybdenum, uranium and gold; Iron Ore, which is engaged in the mining of iron ore; and Coal, which is engaged in the mining of metallurgical coal and energy coal. Co.'s Petroleum unit comprises conventional and unconventional oil and gas assets, and includes exploration, development and production activities.

Capgemini SE

Capgemini is a consulting and IT services provider. Co. works closely with technology partners at the cutting edge of innovation in major trends such as: Cloud, Big Data and mobility. Co. offers its clients skills in a variety of fields, such as digital transformation and digital customer experience, Cloud, Big Data, mobility, testing, cyber security, application management. In addition, Co. helps its clients enhance their performance and sharpen their competitive edge by offering them a range of skills grouped around four major businesses: Consulting Services through Capgemini Consulting, Technology Services (TS), Local Professional Services through Sogeti, and X Outsourcing Services (OS).

Compagnie Generale des Etablissements Michelin SCA

Compagnie Generale des Etablissements Michelin is active in the tire and mobility-related service markets. Co. manufactures, distributes and sells tires for all kinds of vehicles, publishes maps and guides and operates a number of services. Co.'s operates in three segments: Passenger car/Light truck tires and related distribution; Truck tires and related distribution and Specialty businesses segment including tires for specialty vehicles and maps and guides. Co. distributes its products through two tire distribution networks: Euromaster (Europe) and TCI (U.S.A.) and its brands include Michelin, BFGoodrich, Kleber, Uniroyal, Warrior, Kormoran, Riken, Taurus and Tigar.

Deutsche Konsum REIT-AG

Deutsche Konsum REIT AG. Deutsche Konsum REIT AG is a Germany-based real estate investment company. It focuses on the acquisition, rental, inventory management, and sale of retail properties across Germany, with focus on regional centers and micro-locations in the northern and eastern part of Germany.

ENGIE SA.

Engie is an industrial group, based in France, active in the fields of gas, electricity, energy services and the environment. Co. is an energy provider across the entire energy chain, in electricity and in natural gas, including: purchase, production and commercialization of natural gas and electricity; transport, distribution, management and development of major natural gas infrastructures; design and commercialization of energy services and environment-related services. Co.'s activities are conducted through five segments: Energy Europe, Energy International, Global Gas and LNG, Infrastructures, and Energy Services.

Euronav NV

Euronav is a provider of maritime shipping and offshore services engaged primarily in the transportation and storage of crude oil. As of Apr. 4, 2017, Co. owned and operated a modern fleet of 55 vessels (including four chartered-in vessels) with an aggregate carrying capacity of approximately 13.7 million deadweight tons, or dwt, consisting of 31 very large crude carriers, one ultra large crude carrier, 21 Suezmax vessels, and two floating, storage and offloading vessels. Co. has two operating segments: the operation of crude oil tankers on the international markets (tankers) and the floating production, storage and offloading operations.

JDE Peet's NV

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.

Koninklijke BAM Groep NV

Koninklijke Bam is a construction group based in the Netherlands. Co. is active in the sectors construction, property, civil engineering, public private partnerships, mechanical and electrical contracting, consultancy and engineering, and facilities management. Co. maintais market positions in the Netherlands, Belgium, the United Kingdom, Ireland and Germany. Co. undertakes specialist construction and civil engineering projects in niche markets worldwide. Co.'s consultancy and engineering company provides services to global clients with their international operations.

Koninklijke DSM N.V.

Royal DSM is engaged in the creation of products and services in Life Sciences and Materials Sciences. Co.'s products and services are used globally in range of markets and applications in healthcare, pharmaceutical automotive and chemicals sectors. End markets include human and animal nutrition and health, personal care, pharmaceuticals, automotive, coatings and paint, electrics and electronics, life protection and housing. The activities of Co. are grouped into four clusters: Nutrition, Pharma, Performance Materials and Polymer Intermediates.

KWS SAAT SE & Co KGaA

KWS SAAT is a holding company. Through its subsidiaries, Co. is engaged in developing, producing and distributing seed for agriculture. Co.'s operational business is divided into three segments: corn, which is engaged in the production and distribution activities of corn for grain and silage corn, oil and field seed; sugarbeet, which is engaged in the multiplication, processing and distribution activities for sugarbeet seed, as well as Co.'s seed potato business; and cereals, which is engaged in the production and distribution of hybrid rye, wheat and barley, as well as oil and field seed.

NN Group N.V.

NN Group is a financial services company based in the Netherlands. Co. engages in insurance and investment management activities, providing life and non-life insurance products primarily in the Netherlands, Belgium, rest of Europe, and Asia. Co. offers group and individual life insurance; and motor, transport, fire, liability, travel, and income insurance. Co. also offers retirement, insurance, investments, and banking services to retail, SME, corporate, and institutional customers. Co. is active in 18 countries, with a presence predominantly in a number of European countries and Japan.

Randstad NV

Randstad is a global staffing and recruitment company, providing various solutions in the human resources (HR) services space. Co.'s services include regular temporary staffing and permanent placement of candidates. In addition, Co. provides several other HR solutions, such as Recruitment Process Outsourcing (RPO), Managed Services Programs (MSP), payroll services, and outplacement. Co. provides four distinct service concepts: Staffing, Inhouse Services, Professionals and HR Solutions.

Straumann Holding AG

Straumann is engaged in tooth replacement solutions that include dental implants, prosthetics and regenerative products. Co. develops, manufactures and supplies dental implants, instruments, computer-aided design/computer-aided manufacturing prosthetics and tissue regeneration products for use in tooth replacement and restoration solutions or to prevent tooth loss. Co. provides a range of services to dental practitioners, clinics and laboratories. Through a collaboration with its academic partner the International Team for Implantology ( ITI), Co. supports research and offers training and education to dental professionals worldwide.

Unibail-Rodamco-Westfield SE Stapled Secs Cons of 1 Sh Unibail Rodamco + 1 Sh WFD Unib Rod

Unibail-Rodamco is a commercial property operator, investor and developer. Co. is operationally organized in six geographical regions: France, Spain, Central Europe, Austria, the Nordics and The Netherlands. Its activities are divided into three business lines or segments: Shopping Centres, Offices and Convention & Exhibition. Co.'s Shopping Centres segment focuses primarily on the retail sector; the Offices segment takes care of office assets that are mainly located in the Parisian Central Business District; and the Convention-Exhibitions segment consists of a real estate venues and operations organization, and trade show organization.

Wereldhave N.V.

Wereldhave is an independent international property investment company. Co. is principally involved in leasing out investment property under operating leases. Co.'s activities are spread over four property sectors and across six European countries - the Netherlands, Belgium, Finland, France, Spain and the United Kingdom - and three regions in the United States. Co. creates value by actively managing shopping centres, through sound timing in the purchase and sale of offices and residential property, and by developing its own property at cost. Co. is a closed-end investment company with variable capital.

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
Martial Descoutures

Michael B. Schäfer

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