Report
Anis Zgaya ...
  • Baptiste Lebacq
  • Jean-Baptiste Rouphael

ODDO : Le pays d’Eole

Nous étendons la couverture des équipements éoliens avec Siemens Gamesa (Surperformance) et Vestas (Sous-performance) en complément de Nordex (Surperformance). L’exécution des contrats dans les carnets de commandes reste impactée par la hausse des coûts matières premières entraînant des pincements des marges. Cet épisode semble transitoire alors que les fondamentaux de LT du secteur restent intacts. Enfin, nous analysons les enjeux ESG du secteur et donnons notre opinion de la pe...
Underlyings
NORDEX SE

Nordex is a holding company. Co. is a supplier of multimegawatt onshore wind turbines for locations characterised by strong, medium and light wind conditions. Co. focuses on developing and producing the entire system including the control software as well as the main core components and on providing related services. This mainly refers to the sale of wind power systems and, in selected markets, the upstream wind farm project development and sale of turnkey solutions. In addition, Co. assembles wind turbines and provides the necessary after-sales service. Co.'s finance department also supports customers to raise project finance via national and international commercial banks.

Siemens Gamesa Renewable Energy S.A.

Siemens Gamesa Renewable Energy is a holding company. Through its subsidiaries, Co. is engaged in the business of renewable energy sources, primarily wind power but also including solar energy where its acts as a supplier and manufacturer of technological products, installations and services. Co. is organized along the lines of: promotion, construction and sale of wind farms, engineering, design, manufacture and sale of wind turbines, manufacture of thermic and photovoltaic solar components, promotion and sale of photovoltaic solar farms. Co. also participates in both Spanish and European working groups aimed at establishing priorities for its sector's research & development work.

VESTAS WIND SYSTEMS

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
Anis Zgaya

Baptiste Lebacq

Jean-Baptiste Rouphael

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