Q1: EBIT 6% above cons on better margins

Q1: EBIT 6% above cons. We see a strong '24 margin outlook, and the DK turnaround continues positively. Expect limited changes to cons '24e EBIT, but we find the report case-supportive

UMG : A solid Q1 on margins but our forecasts for 2024 are unchanged -...

>A good Q1 in terms of the EBITDA margin, buoyed by the mix - Yesterday evening, UMG published Q1 results that came in a shade above our expectations with adjusted EBITDA of € 591m vs our forecast of € 573m, i.e. a 150bp improvement in the margin, buoyed by a favourable mix and robust growth in publishing. Growth at constant forex in the paid streaming activity (+12.3%) came in slightly below our forecast of 13.5% confirming a relatively dynamic quarter that remains u...

Hugo Boss: Weak China and month of April spoilt the mood

In our view, the sharp negative market reaction was triggered by subdued trends in China and April trends which were slightly below the Q1 top-line performance (+6% FX-n), on top of another tough comparison base (Q2 2023: +20% FX-n). Whilst FY24 outlook was reiterated, management's relatively cauti

Egetis reports Q1, on track with US trial

Egetis reported Q1 2024 results with an operating loss of SEK (68.6m) and a cash position of SEK 251.7m. In the pipeline, the most important update has been to the status of the critical US phase 3 trial, where the company reported that 13/16 patients have been recruited, whereof 6 patients have co

Chocoladefabriken Lindt & Sprungli AG: 2 directors

A director at Chocoladefabriken Lindt & Sprungli AG sold 1,650 shares at 10,495.321CHF and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over ...

Conmed Corp: 1 director

A director at Conmed Corp bought 3,000 shares at 68.300USD and the significance rating of the trade was 59/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly sh...

Minor miss

ABGSC Shipping Daily 3 May

Mixed tanker and dry bulk market, LPG up. Shipping peer group trades at P/NAV 0.87x. Maersk review: Continued strong demand will make a difference.

Consumers have used up their excess savings. What happens next?

At the post-FOMC press conference, what is not said is sometimes more significant than what is said. Jerome Powell has repeatedly been asked about the possibility of resuming rate hikes in order to curb inflation. Each time, he has refrained from considering this option. The US economy is growing at a solid, albeit not accelerating, pace. There are an increasing number of signs that employment conditions are moderating. To date, the Fed considers its monetary policy to be restric...

Shurgard FIRST LOOK: 1Q24 Results, all eyes on the Lok'nStore developm...

Shurgard 1Q24 results came slightly below our estimates as increased RE-taxes hit 1Q harder than expected. Also 4.0% lfl operating revenue growth came below our 4.7% expectation. The EPRA Earnings amounted to EUR 34.2m, +12.6% yoy vs. our expectation of 35.3m. Guidance FY24 excludes the Lok'nStore bid and indicates a 7.5% revenue growth in line with our previous estimates. The balance sheet offers ample headroom with LTV at 14.6%. The results still show a resilient operational performance, impa...

IBERIAN DAILY 03 MAY + 1Q’24 RESULTS. HIGHLIGHTS AND REST OF PREVIEWS ...

NEWS SUMMARY: ACERINOX, IBERDROLA. 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’24 results to be released over the coming days in Spain. Doubts on the market despite an accommodating Fed With the exceptions of the IBEX and FTSE 100, it was a session of losses on European stock markets with strong sector dispersion, and where falling sovereign debt yields reeled in part o...

Tubize Financiere Model Update: We raise our TP to €135.0

Since the start of year, UCB has rallied 53.5% from €79.2 to €121.0+ thanks to positive momentum on Bimzelx' commercial uptake. UCB has entered a new growth phase as it turns the page on the loss of exclusivity of several of its mature assets. The new chapter will focus strongly on five growth drivers: Bimzelx, Rystiggo, Zilbrysq, Fintepla and Evenity. Jointly, these assets could deliver significant topline growth and margin improvements in the coming years – we updated our model and raised our ...

Galapagos FIRST LOOK: uneventful 1Q24 results, FY24 cash burn guidance...

Galapagos reported uneventful 1Q24 results and confirmed its FY24 cash burn guidance of € 280-320m (FY23: € 414.8m), thanks to the savings from the transfer of Jyseleca to Alfasigma. While the company did not provide an update on timelines for its pipeline, we think data updates from the phase 1/2 CAR-T trials in r/r NHL and r/r CLL could come at upcoming scientific conferences (e.g. ASH in December 2024). Beyond that, BD remains on the table and we'd like to see an acceleration on that front wi...

Q1 miss but FY guidance kept

Q1:2024 Earnings Update | ACCESSCORP | Core Banking Income Sets the St...

In its Q1:2024 financial statements, Access Holdings Plc posted a 129.20% and 148.03% YoY growth in Gross earnings and Profit before Tax to NGN974.24bn and NGN202.74bn respectively. The performance was mainly driven by impressive returns on interest income.  Interest Income climbed 183.07% YoY to NGN719.60bn while non-Interest revenue grew 39.86% YoY to NGN254.64bn. On the other hand, Operating Expenses rose by 86.46% YoY to NGN279.31bn as personnel expenses, regulatory expenses and IT and e-bu...

Monday.Com Ltd: 1 director

A director at Monday.Com Ltd sold 6,857 shares at 189.330USD and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly...

IOI Properties Group Berhad: 1 director

A director at IOI Properties Group Berhad sold 34,331,100 shares at 2.020MYR and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last tw...

UMG : Un T1 solide sur la marge mais nos attentes 2024 restent inchang...

>Un bon T1 en termes de marge d’EBITDA porté par le mix - UMG a publié hier soir des résultats T1 légèrement supérieurs à notre attente avec un EBITDA ajusté de 591 M€ alors que nous tablions sur 573 M€ soit une marge en progression de 150 pb, porté par un mix favorable et une croissance soutenue du publishing. La croissance à taux de change constant sur la partie streaming payant (+12,3%) est un peu en-dessous de notre attente de 13,5% confirmant un trimestre assez d...