Sabadell - ArcelorMittal (MTL) ARCELOR MITTAL: MÁS HEALTHY EN 2021 (ANÁLISIS BANCO SABADELL)

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Sabadell

Francisco Rodriguez

EUR 400.00 For Business Accounts Only

ARCELOR MITTAL: MÁS HEALTHY EN 2021 (ANÁLISIS BANCO SABADELL)

La subida del precio del acero y el M&A nos hacen revisar P.O. al alza. COMPRAR
Tras un año difícil por la falta de visibilidad operativa, las buenas noticias de las últimas semanas (recuperación de actividad y precio global) nos hacen revisar estimaciones un +6% en 2020 y +10% en 2021/22e (LfL), beneficiando a todas las divisiones. A esto se unen noticias propias de la compañía con operaciones corporativas que generan valor como la venta de activos en EE.UU. y la salida de Ilva. Todo ellos nos lleva a revisar P.O. a 22 euros/acc. (+46% vs antes y +14% potencial). MTS afronta el 2021 desde una posición financiera sólida (

18/12/2020 12 ES

Underlying

ArcelorMittal

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LU0323134006 Luxembourg Stock Exchange Luxembourg

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Sabadell

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Analysts

Francisco Rodriguez

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Rdos. 1T'25 vs 1T'24: EBITDA: 1.580 M euros (-19,2% vs -23,3% BS(e) y -20,8% consenso); BDI: 805 M euros (-14,2% vs -48,1% BS(e) y -46,3% consenso).

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COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ARCELOR MITTAL, CAIXABANK, ENCE, ENAGAS, NARTUGY, REPSOL, SACYR, SANTANDER, VISCOFAN. EUROPA: DHL, MERCEDES. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 1T’25 que se publicarán en España y Europa en los próximos días. Estabilización de las bolsas Comportamiento mixto de las bolsas europeas en el primer día “maratón” de datos macro de la semana. En el STOXX la mayoría de sectores (14/20) cerraron con g...

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NEWS SUMMARY: ARCELORMITTAL, CAIXABANK, ENAGÁS, ENCE, NATURGY, REPSOL, SACYR, SANTANDER, VISCOFAN. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 1Q’25 results to be released over the coming days in Spain. Stock markets stabilise Mixed performance in European stock markets on the first marathon macro data day this week. In the STOXX 600, most sectors (14/20) closed with gains, led by Utilities and Banks, with Consumer Goods and Retail falling the most. On the macro side, in...

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REDEIA: RDOS. 1T’25 Y CAMBIO DE P.O. A BAJO REVISIÓN (ANÁLISIS BANCO SABADELL)

Rdos. 1T'25 vs 1T'24: EBITDA: 320,1 M euros (+4,4% vs +4,7% BS(e) y +5,0% consenso); BDI: 137,8 M euros (+4,2% vs +2,8% BS(e) y +2,0% consenso);

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Research Department

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Research Department

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NEWS SUMMARY: REDEIA. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 1Q’25 results to be released over the coming days in Spain. Macroeconomic data drag down stock markets It was a session of corrections at both sides of the Atlantic, with the US dragged down by poor macroeconomic data (GDP, ADP, PMI) and Europe (particularly the Ibex) by the lack of positive surprises in the earnings campaign . In the STOXX 600, the best performers were defensive sectors such as Telecoms a...

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ARCELOR MITTAL: MÁS HEALTHY EN 2021 (ANÁLISIS BANCO SABADELL)

ARCELORMITTAL: RDOS. 1T’25 (ANÁLISIS BANCO SABADELL)

INFORME DIARIO 30 ABRIL + RDOS. ESPAÑA Y EUROPA 1T’25. PREVIEWS (ANÁLISIS BANCO SABADELL)

IBERIAN DAILY 30 APRIL + 1Q’25 RESULTS. PREVIEWS (ANÁLISIS BANCO SABADELL)

REDEIA: RDOS. 1T’25 Y CAMBIO DE P.O. A BAJO REVISIÓN (ANÁLISIS BANCO SABADELL)

BASF: RDOS. 1T’25 (ANÁLISIS BANCO SABADELL)

IBERIAN DAILY 02 MAY + 1Q’25 RESULTS. HIGHLIGHTS AND REST OF PREVIEWS (ANÁLISIS BANCO SABADELL)

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