Oddo BHF - IONOS GROUP SE (IOS) IONOS : Une fin de rallye, même si le profil de croissance reste bon

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Oddo BHF

Stephane Beyazian

IONOS : Une fin de rallye, même si le profil de croissance reste bon

>Légers ajustements sur les objectifs 2024-2025 (de 1-2%) - IONOS a annoncé ses résultats pour le S1 2024 et ajusté ses objectifs 2024-2025 par anticipation (publication initialement prévue le 8 aout). Les nouveaux objectifs sont 1-2% en dessous de nos attentes et du consensus, même si ces résultats restent solides et maintiennent le profil de valeur de croissance d’IONOS :Pour 2024, la société vise désormais : (i) une croissance des ventes de 9% (vs 11% précédem...

15/07/2024 1 FR

Underlying

IONOS GROUP SE

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DE000A3E00M1 Germany

Provider

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.

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Analysts

Stephane Beyazian

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Oddo BHF

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After a challenging H1 for champagne, the industry expects volumes to stabilise in H2 ahead of a recovery in 2025. We lower our estimates for the current year for all champagne groups. In these conditions, we prefer Laurent-Perrier, the sector best-in-class which has many times proven its resilience in champagne market slumps, and upgrade our rating to Outperform vs Neutral. We downgrade Lanson-BCC to Neutral and remain at Neutral on Vranken Pommery given their more fragile profiles. - ...

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Oddo BHF

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Après un S1 difficile pour le champagne, la profession table sur une stabilisation des volumes au S2 avant une reprise en 2025. Nous révisons en baisse nos estimations pour l’année en cours pour l’ensemble des groupes. Dans ce cadre, nous privilégions le Best-in-class du secteur, Laurent-Perrier, qui a maintes fois démontré sa capacité de résilience en temps de « crise » et relevons notre opinion à Surperformance vs Neutre. Nous abaissons Lanson-BCC à Neutre et maintenons Vranken Pomm...

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IONOS : Upgrade to Outperform (vs Neutral) with a better H2 in prospect

>Recommendation upgraded to Outperform after the fall of 37% in the share price since 11 July and of 35% vs peers - We are upgrading our recommendation to Outperform on the basis of 1/ the upside regained in relation to our € 27 target price after the decline in the share price linked to an anecdotal target adjustment (2024 sales revised from 10% to 9% with no impact on EBITDA); 2/ the reacceleration in H2 2024 sales (from 6% in H1 to 11% in H2) and EBITDA (from 10% t...

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ODDO : August watch exports surprisingly up, looks like a misleading signal

>August exports show a growth rebound mainly driven by luxury watches - Strange things can happen in August: watch exports are growing even faster than in July at +6.9% y-o-y versus +1.8% the month before (the year-to-date growth remains negative at -1.4%) but this is entirely driven by 14.9% growth in the luxury segment, mainly fuelled by watches incorporating precious metals, according to Fédération Horlogère. The other categories show a significant decline fo...

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IONOS : Une fin de rallye, même si le profil de croissance reste bon

ODDO BHF Small & MIDCAP MORNING NEWS - 09/19/2024

ODDO BHF Small & MIDCAP MORNING NEWS - 19/09/2024

IONOS : Upgrade to Outperform (vs Neutral) with a better H2 in prospect

Tubacex : Middle East catalysts expected to reactivate re-rating

ODDO : August watch exports surprisingly up, looks like a misleading signal

ODDO : August watch exports surprisingly up, looks like a misleading signal

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