ODDO : Vers une année pleine d’énergie en Allemagne
Dans le cadre des élections fédérales en Allemagne, le programme de la CDU/CSU apporte des réponses à 1/ l’augmentation des investissements nécessaire dans le réseau, 2/ au maintien du pouvoir d’achat énergétique des ménages, 3/ la compétitivité énergétique des industriels et 4/ l’accompagnement vers une économie bas carbone. Nous présentons ici les principales orientations du programme, sa compatibilité en fonction des partenaires de coalition et une analyse de sensibilité des valeurs exposées. Nous concluons que le titre E.ON présente le potentiel le plus important si le programme de la CDU/CSU est appliqué, tandis que le cours d’Uniper valorise déjà ce scénario et la diversité des activités de RWE rend le titre peu sensible à la plupart des scénarios.E.ON is an investor-owned energy company. The Generation global unit consists of all Co.'s existing (fossil and nuclear) generation assets in Europe. The Renewables unit is engaged in managing Co.'s carbonsourcing and renewables businesses. The Global Commodities unit buys and sells electricity, natural gas, liquefied natural gas, oil, coal, freight, biomass, and carbon allowances. The Exploration & Production unit is a active in the focus regions of the North Sea (U.K., Norway), Russia and North Africa. The New Build & Technology unit include Co.'s project-management and engineering operations to support the construction of new power plants and the operation of existing plants.
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.
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.
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