reports
Mastercard Inc: 2 directors
A director at Mastercard Inc sold 600 shares at 449.495USD and the significance rating of the trade was 51/100. 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...
Seagate Technology Holdings Plc: 1 director
A director at Seagate Technology Holdings Plc sold 11,158 shares at 90.000USD and the significance rating of the trade was 80/100. 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 t...
- Anthony Dick
- Michael Foundoukidis
Continental : Sharp improvement now required as early as Q2
>Q1 results already known, management confident on capacity to recover from Q2 - With Continental having already reported its preliminary Q1 2024 results, yesterday’s focus was more on the group’s explanations regarding the underwhelming performance at the start of the year and, importantly, on its capacity to improve it over the next few quarters in order to meet the full-year guidance. The improvement expected from Q2 in Automotive unit (with CFO suggesting operatin...
- Louis Boujard
- CFA
- Philippe Ourpatian
Endesa : Un T1 24 en ligne et une trajectoire 2024 confirmée
>Opinion Surperformance réitérée et OC 25.3 € inchangé - Les résultats du T1 24 publiés sont ressortis globalement en ligne avec nos attentes et celles du consensus. Retraité des éléments relatifs à la fiscalité énergétique espagnole, la performance ressort en ligne avec la trajectoire stratégique délivrée lors du dernier opus stratégique de novembre 2023, couvrant la période 2024-2026. Le groupe a confirmé sa guidance 2024. La position d’attente sur sa couverture 202...
- Delphine Brault
- Quentin Borie
Knorr-Bremse AG : The effects of the strategic plan are clearly visibl...
>A good Q1 2024, ahead of expectations for both divisions - Knorr-Bremse reported yesterday morning better-than-expected Q1 2024 results, despite a consensus which had adjusted upwards in recent weeks. The order intake topped expectations in both divisions at a consolidated € 2.11bn (css at € 1.95bn), i.e. a book-to-bill of 1.07x.The group generated revenues of € 1,974m (css € 1,962m), up 6.1% organically (css 5.1%), and an operating EBIT margin of 12.1% (cs...
- Louis Boujard
- CFA
- Philippe Ourpatian
Verbund : Positive points in the short term but uncertainties linger o...
>A publication in line with our forecasts - Yesterday morning, Verbund published Q1 2024 results in line with forecasts. EBITDA was € 883m (-9%) vs € 880m expected. Reported EBIT was also down to € 745m (-11.5%), in line with our estimate and attributable net profit was down to € 506m (-4%) vs € 513m forecast (ODDO BHF). The group experienced a far less favourable market price environment than last year with an average captured price on hydro of € 129.5/MWh (-31% y-o-...
- Jerôme Bodin
Ströer SE & Co. KGaA : Un T1 2024 tiré par la bonne dynamique au nivea...
>Opinion Neutre réitérée - Stroër a publié hier des résultats du T1 pratiquement en ligne avec nos attentes avec un EBITDA ajusté de 108,4 M€ vs 111 M€ attendus. La croissance organique ressort à 9% sur ce trimestre. Le T1 a été particulièrement dynamique. L’activité OoH ressort en hausse de 17,4% supérieur à nos attentes et à la guidance du groupe (+15%) illustrant une poursuite des gains de PdM de ce média (et tout particulièrement de Ströer). Le groupe a tenu sa co...
UBS Group AG: 1 director
A director at UBS Group AG sold 135,000 shares at 26.541CHF 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 ...
Baladna Q.P.S.C: 1 director
A director at Baladna Q.P.S.C bought 150,000 shares at 0.000QAR and the significance rating of the trade was 55/100. 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 clear...
- Delphine Brault
- Quentin Borie
Alstom : Bientôt un nouveau chapitre, après l’augmentation de capital
>2.4 Md€ de mesures inorganiques pour renforcer le bilan – suffisant selon nous - Comme anticipé, Alstom a détaillé hier comment allaient s’articuler les 2 Md€ de mesures inorganiques : i/ 700 M€ de cash provenant des cessions (TMH et signalisation conventionnelle), ii/ 1 Md€ d’augmentation de capital, avec droits préférentiels de souscription. CDPQ et BPI, qui détiennent respectivement 17.4% et 7.5% du capital, participeront à l’opération, et iii/ l’émission d’une de...
- Aurelien Sivignon
CompuGroup Medical SE : Little clarity in the medium-term outlook. Neu...
>Conference call feedback: 2024 guidance confirmed but no indication on medium-term prospects after the abandonment (unsurprisingly) of the 2025 targets - CompuGroup published yesterday morning a soft Q1 2024, slightly below expectations (first take link published yesterday). Below are the main elements from the conference call: 1/ 2024 guidance confirmed with a more favourable base effect in H2. As anticipated, the momentum in H1 has been penalised by the base effec...
- Delphine Brault
- Quentin Borie
Alstom : New chapter starting, after the capital increase
>€ 2.4bn in inorganic measures to bolster the balance sheet – should be enough in our view - As expected, Alstom yesterday detailed how the € 2bn of inorganic measures would be structured: i/ € 700m of cash from disposals (TMH and conventional signalling), ii/ a € 1bn capital increase, with preferential subscription rights. CDPQ and BPI, which hold 17.4% and 7.5% of the capital respectively, will take part in the operation, and iii/ the issue of hybrid debt for € 750m...
- Luis de Toledo Heras
Fluidra : Results in line with estimates, lower seasonal sales offset ...
>Results in line with estimates, seasonal factors partially explain sales weakness - Fluidra’s Q1 2024 results came broadly in line with estimates with EBITDA of € 118m (-2% y-o-y and -2% vs our estimates) resulting from slightly higher margins (EBITDA margin of 22.4% vs 22.2% estimated and 21.8% in Q1 2023) on weaker-than-expected sales (-4.8% y-o-y, -2% vs estimates) partly due to lower trading days and the delay on season planning attributable to the Easter holid...
- Martial Descoutures
- Oussema Denguir
Medincell : De nouvelles données positives de la phase 3 de mdc-TJK
>Données de sécurité positives et une efficacité confirmée - Medincell et son partenaire Teva ont communiqué hier à la mi-journée une mise à jour de leur étude de phase 3 SOLARIS évaluant mdc-TJK (olanzapine) pour le traitement des épisodes psychotiques chez les patients souffrants de schizophrénie. Le profil de sécurité, point important de l’étude, ressort positif avec 0 cas de PDSS (Post-injection delirium/sedation syndrome) rapporté après le dosage de 80% des 3600 ...
Parandusteade: 2024. aasta 3 kuu konsolideeritud auditeerimata vahearu...
Parandusteade: 2024. aasta 3 kuu konsolideeritud auditeerimata vahearuanne Esialgses eestikeelses teates kaotsiläinud avalause tõttu avaldame teate uuesti. JUHTKONNA KOMMENTAAR Merko Ehituse 2024. aasta esimese kvartali müügitulu oli 81,2 miljonit eurot, kasvades eelmise aasta sama perioodiga võrreldes 7,2%. Esimese kvartali puhaskasum oli 4,4 miljonit eurot. Merko on andnud tänavu ostjatele üle 59 korterit ja 7 äripinda. Merko Ehituse juhtkonna sõnul käitus korteriturg esimeses kvartalis ootuspäraselt ning Merko kontserni esmamüük oli sellele vastav, lähiajal pole alust oodat...
Essential Properties Realty Trust Inc: 1 director
A director at Essential Properties Realty Trust Inc sold 35,000 shares at 27.176USD and the significance rating of the trade was 71/100. 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 ...
- Aurelien Sivignon
CompuGroup Medical SE : Peu de lisibilité sur les perspectives MT. Opi...
>Feedback conf. call : guidance 2024 confirmée mais aucune indication sur les perspectives MT après l’abandon (sans surprise) des objectifs 2025 - CompuGroup a publié hier matin un T1 2024 soft et légèrement en deçà des attentes (lien first take publiée hier). Ci-dessous les principaux éléments que nous retenons de la conférence call : 1/ Guidance 2024 confirmée avec un effet de base plus favorable au S2. Comme anticipé, la dynamique du S1 est pénalisée par l’effet d...
- Anthony Dick
- Michael Foundoukidis
Vitesco : EV slowdown clearly visible in Q1, as expected
>Q1: sales at -7.5% org and adjusted EBIT up slightly (operating margin of 1.7%) - Vitesco’s Q1 2024 figures, reported yesterday, confirmed the slower momentum in electrification, which is also visible at its peers (and even more so at Valeo for example). Despite this, the auto supplier nonetheless fully confirmed its full-year guidance, suggesting, again, significant seasonality between H1 and H2, particularly as the message remains cautious on Q2 with the market env...
- Louis Boujard
- CFA
- Philippe Ourpatian
Verbund : Du bon sur le court terme mais toujours des incertitudes sur...
>Une publication conforme à nos attentes - Verbund a publié hier matin des résultats T1 24 conformes aux prévisions. L'EBITDA ressort à 883 M€ (-9%) vs 880 M€ attendus. L'EBIT publié a également diminué à 745 M€ (-11.5%), en ligne avec nos estimations et le RNpg est en baisse à 506 M€ (-4%) contre 513 M€ attendus (ODDO BHF). Le groupe a connu un environnement de prix de marché beaucoup moins favorable que l'année dernière avec un prix capturé moyen sur l'hydroélectric...
- Roland Pfaender
- MBA
- CFA
- CCRA
- Steven Gould
UBS Group : NCL run-down and transaction revenues boosted Q1 2024 prof...
>UBS reported a strong beat to Q1 2024 consensus estimates - UBS reported a strong beat to Q1 2024 consensus estimates. Underlying pre-tax profit came to $ 2,617m which compares to $ 1,513m consensus expectation. The beat was driven by a faster-than-expected NCL run-down which triggered gains linked to position exits. Furthermore, transaction income in GWM and P&C business was stronger than expected in the quarter. IB operations benefitted from momentum in Global Bank...
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