Oddo BHF - L’heure de vérité pour les dettes publiques

Report

Oddo BHF

Bruno Cavalier

L’heure de vérité pour les dettes publiques

Les crises laissent en héritage des dettes publiques. Les phases d’expansion devraient donc être mises à profit pour se désendetter et reconstituer des marges de stabilisation budgétaire. Plus facile à dire qu’à faire. Après la Grande Récession de 2008-2009, le ratio de dette publique avait augmenté de 26 points de PIB dans les pays avancés. Il n’est pas redescendu dans la décennie suivante, sauf rarissimes exceptions (Allemagne). Cela n’a pas mis en péril la soutenabilité de la ...

11/04/2024 1 FR

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

Bruno Cavalier

Other Reports from Oddo BHF

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Founded in 1959, Leifheit AG is one of the leading European brand suppliers of household items. The group divides its operating business into the household, wellbeing and private label segments. In view of its growing turnover (CAGR of +2.8% for 2023 to 2026e) and EBIT margins (+290bp to 5.2% in 2026e vs 2023), as well as its solid financial profile (equity ratio of about 50%, average net cash position of c. € 40m for 2024e to 2026e, average positive FCF of c. € 11m for 2024e to ...

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Damien Choplain ... (+2)

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>Insulin business in the spotlight - Novo Nordisk’s Q1 2024 results, reported this morning, beat expectations for revenues and margins: +2% ahead of expectations for the top line (DKK 65.5bn, +24% cc) and 9% better for EBIT (DKK 31.9bn, +30% cc). The GLP-1 franchise, driven by Ozempic (+65% cc), is keeping up the pace, with an increase in market share in its diabetes franchise and positive volume momentum (6% growth in GLP-1 prescriptions). But this release was m...

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L’heure de vérité pour les dettes publiques

Ørsted : Good performance in offshore encouraging

Leifheit AG : Making life at home easier and more convenient

Novo Nordisk : Diabetes franchise leading the way

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