Oddo BHF - Zardoya Otis S.A. (ZOT) Zardoya Otis : Un S1 2021 globalement en ligne avec nos attentes mais les matières premières pèsent sur la marge d’EBITDA au T2

Report

Oddo BHF

Delphine Brault

Zardoya Otis : Un S1 2021 globalement en ligne avec nos attentes mais les matières premières pèsent sur la marge d’EBITDA au T2

>Le S1 montre une nette reprise des nouvelles installations et une inflation des matières premières et composants - Zardoya Otis a publié hier soir après clôture ses résultats semestriels (à fin mai 2021).Ces derniers sont très légèrement supérieurs à nos attentes, bénéficiant d’un fort rebond des nouveaux équipements au T2.Les commandes sont en recul de 5.4% sur le S1 (dont +15.4% sur le seul T2). Le chiffre d’affaires progresse de 3.8% (ODDO BHF +1.3%...

29/07/2021 4 FR

Underlying

Zardoya Otis S.A.

Zardoya Otis and its subsidiaries are engaged in the manufacture and installation of elevators, the provision of related maintenance services, and export of equipment for its installation abroad.

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ES0184933812 Madrid Stock Exchange Spain

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

Delphine Brault

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TheScreener

ZARDOYA OTIS reduced its risk exposure resulting in an upgrade to Slightly Positive

ZARDOYA OTIS (ES), a company active in the Industrial Machinery industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 4 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date February 25, 2022, the closing price was EUR 7.03 and its potential was estimated at EUR 8.22.

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February 26, 2022 February 26, 2022 1 EN

Oddo BHF

Zardoya Otis : Otis makes an offer on Zardoya at € 7 per share

>Otis makes an offer on Zardoya Otis - Otis Worldwide, the world number one elevator group, announced this morning that it was launching a takeover bid on the Zardoya Otis shares.The parent company Otis currently owns a 50.01% stake in Zardoya’s capital and 50.07% of voting rights. The bid therefore concerns the 235,184,934 shares that are not held by Otis. The price offered is € 7 per share. This € 7 is to be reduced by € 0.074 per share, corresponding...

September 23, 2021 September 23, 2021 4 EN

Oddo BHF

Zardoya Otis : Offre de Otis sur Zardoya à 7 € par titre

>Otis lance une offre sur Zardoya Otis - Otis Worldwide, leader mondial des ascenseurs, a annoncé ce matin, le lancement d’une offre publique d’achat sur les titres Zardoya Otis.La maison mère Otis détient actuellement 50.01% du capital de Zardoya et 50.07% des droits de vote. L’offre porte donc sur les 235 184 934 actions non détenues par Otis. Le prix proposé est de 7€ par titre. Ce prix de 7€ sera réduit de 0.074 € par action, correspondant au divide...

September 23, 2021 September 23, 2021 4 FR

Dassault Systèmes : L’environnement macro incite à la prudence pour le S2 mais le marché semble s’y être déjà préparé

>Vers un T3 sans bonnes surprises, hormis la stabilisation de Medidata - En juillet dernier, la société avant bien prévenu le marché que la croissance resterait faible au T3 en raison d’un effet de base difficile (signature du mega-deal avec JLR représentant 3pts de croissance exceptionnelle). Néanmoins, la société semblait espérer concrétiser la signature de quelques contrats significatifs, parmi ceux qui avaient été décalés au T2. In fine, il semble bien qu’il n’y a...

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Michael B. Schäfer

Michael B. Schäfer

Lanxess : Showing the money: disposals on track, cash flow recovery/deleveraging, too

>Q3 due 7 November – Summer weighs, as expected - History may not repeat in Q3 compared to a strong consensus beat reported at the Q2 2024 results. Summer takes its toll, weighing on the momentum shown in Q2. We project Q3 2024 adjusted EBITDA coming in 6% below Q2 2024 at € 170m (cons. € 169m) and 42% above last year. Sequential stabilisation at Specialty Additives and Consumer Protection may not fully compensate plant turnover-related headwinds in Advanced Intermedi...

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Delphine Brault ... (+2)

Delphine Brault
Quentin Borie

ODDO : US elections: between continuity and disruption, the benefits/risks vary

Accounting for an average of 19% of revenues for European capital goods groups (over 40% in some cases), the US is clearly a central factor in growth strategies, both organically and inorganically. Based on our analysis of the programmes of the two candidates running for the White House and the positioning of the various groups, we have established two scenarios through which to play the sector depending on the winner in November's election. In this still uncertain US election co...

13h / 23m 13h / 23m 1 EN

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Zardoya Otis : Un S1 2021 globalement en ligne avec nos attentes mais les matières premières pèsent sur la marge d’EBITDA au T2

ZARDOYA OTIS reduced its risk exposure resulting in an upgrade to Slightly Positive

Zardoya Otis : Otis makes an offer on Zardoya at € 7 per share

Zardoya Otis : Offre de Otis sur Zardoya à 7 € par titre

Dassault Systèmes : L’environnement macro incite à la prudence pour le S2 mais le marché semble s’y être déjà préparé

Lanxess : Showing the money: disposals on track, cash flow recovery/deleveraging, too

ODDO : US elections: between continuity and disruption, the benefits/risks vary

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