reports
- Andreas Riemann
Puma : Q1 out - Sales flat but profits decrease less than expected
>Sales flat across all major regions, profitability down - In Q1, sales were flat excluding FX at € 2,102m (consensus: € 2,087m, ODDO BHFe: € 2,099m) in line with expectations. Regions: EMEA flat, Americas +1% and Asia +1%. Channels: DTC +14% but Wholesale was 3%. EBIT decreased 9% to € 159m (consensus: € 151m, ODDO BHFe: € 156m) which was 6% above consensus. This implies a margin of 7.6% (down 50bp) mainly on negative FX effects and a higher opex ratio due to report...
- Christophe-Raphaël Ganet
Synlab : T1 2024 : très bonne profitabilité
>Croissance underlying à 3,9% - Bon niveau de marge - Synlab publie un CA T1 à 682,4 M€, soit -2,8% (+3,9% underlying growth). L’EBITDA ajusté ressort à 123,1 M€ et le ROP ajusté, à 64,8 M€.La dette nette ajustée atteint 1 249 M€ (DN publiée 1 285 M€) vs 1 582 M€ fin T1 2023 (et 1 300 M€ fin 2023). Le levier financier publié ressort à 2,75x (vs 2,9x fin 2023).Le management réitère sa guidance 2024 ie. une croissance organique de 4% (env. 2 700 M€), une marge...
- Klaus Ringel
- Michael Foundoukidis
Stabilus SE : Mixed Q2 2023-24 results and guidance specified at the l...
>STM suffered from the weak macro environment in Q2 2023-24 - Stabilus released a mixed set of results for Q2 2023-24. Reported group sales were +1% y-o-y to € 314m (+1% vs. ODDO BHF & css.) with an organic growth rate of +1.0%. Sales were up strongly in APAC (+12% y-o-y), flat in EMEA and down in the Americas (-4%). In terms of market segment aerospace, marine & rail (+66% y-o-y), health, recreation& furniture (+6%) and automotive (+5%) with Powerise especially showi...
- Stephane Beyazian
United Internet AG : T1 2024: IONOS au-dessus des attentes, 1&1 plus f...
>IONOS (Surperformance): forte croissance clients, CA et EBITDA - Pour le T1 2024, 1&1 a publié un CA en hausse de 5% à 373 M€ (consensus 384 M€), dont une croissance en accélération à 13% du webhosting (hausses de prix) et de 14% des solutions cloud. La société a ajouté un record de 70 000 nouveaux contrats. La moins bonne nouvelle est le recul de 19% du trading de nom de domaines. L’EBITDA ajusté ressort en forte croissance de 9%, dont +22% hors exceptionnel à 105 M...
EQS-News: Nynomic AG: 1. Quartal deutlich über Vorjahr / Zahlen im Pla...
EQS-News: Nynomic AG / Schlagwort(e): Quartalsergebnis Nynomic AG: 1. Quartal deutlich über Vorjahr / Zahlen im Plan und Jahresprognose bestätigt 08.05.2024 / 10:20 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Nynomic AG: 1. Quartal deutlich über Vorjahr / Zahlen im Plan und Jahresprognose bestätigt Wedel (Holst.), 08.05.2024 Die Nynomic AG hat die wichtigsten, noch vorläufigen Kennzahlen für das erste Quartal des Geschäftsjahres 2024 ermittelt (Vorjahreswerte in Klammern). So liegt der Umsatz in den ersten drei Monaten konzer...
- Manuel Martin
- CEFA
- CREA
- Nour El Houda Hammami
Instone Real Estate Group SE : Q1 2024 results overall in the range of...
>FY 2024e guidance confirmed - This morning, Instone (INS) published Q1 2024 figures which were overall in the range of our expectations but with better adjusted earnings y-o-y. Adjusted revenue amounted to € 119.5m (-3.2% y-o-y), below our estimate of € 126.5m. But the gross margin of 27.4% exceeded our forecast of 24.5% and was at the same level as last year´s Q1 margin of 27.4%. Adjusted EAT of € 9.6m increased by +17.1% y-o-y, above our estimate of € 8.5m. Finall...
- Louis Boujard
- CFA
- Philippe Ourpatian
Verbund : Results in line with expectation in all divisions
>Good set of result in all divisions - Verbund released its Q1 results this morning in line with forecast. EBITDA decreased by -9% to € 883m vs € 880m expected. The reported EBIT declined as well by -11.5% to € 745m bang in line with our forecast and the group net income was down 4% to € 506m vs € 513m expected (ODDO BHF). The group saw a much less favourable market price environment than last year with an average capture price on hydro of € 129.5/MWh (-31% y-o-y) bu...
Indkaldelse til ekstraordinær generalforsamling i Pharma Equity Group ...
Indkaldelse til ekstraordinær generalforsamling i Pharma Equity Group A/S 8. maj 2024 Meddelelse nr. 15 Indkaldelse til ekstraordinær generalforsamling i Pharma Equity Group A/S Bestyrelsen indkalder hermed til en ekstraordinær generalforsamling i Pharma Equity Group A/S ("PEG" eller "Selskabet") den: 3. juni 2024, kl. 15:30 på adressen Wihlborgs KantinerSlotsmarken 152970 Hørsholm Dagsordenen for den ekstraordinære generalforsamling er følgende: Forslag om at nedsætte Selskabets aktiekapitalBemyndigelse til dirigenten Punkt 1 – Forslag om at nedsætte Selskabets aktiekapital Bes...
Notice convening the extraordinary general meeting of Pharma Equity Gr...
Notice convening the extraordinary general meeting of Pharma Equity Group A/S 8 May 2024 Announcement no. 15 Notice convening the extraordinary general meeting of Pharma Equity Group A/S The board of directors hereby convenes an extraordinary general meeting in Pharma Equity Group A/S ("PEG" or the "Company") to be held on: 3 June 2024, at 15:30 CEST at Wihlborg's CanteensSlotsmarken 15DK-2970 Hørsholm The agenda for the extraordinary general meeting is as follows: Proposal to reduce the Company's share capitalAuthorization to the chair of the general meeting Item 1 – Proposal t...
- ABGSC Credit Research
- Andreas Johannessen
- Bendik Fougner Engebretsen
- Glenn Kringhaug
- Haakon Amundsen
- Patrik Brattelius
- Son Thanh Luu
- Emna Ben Bdira
- Maxime Kogge
Outokumpu : Q1 post-view: several encouraging signs but still a subdue...
>Q1 below forecasts due above all to the Americas - Like Acerinox and Aperam previously, Outokumpu disappointed the market with Q1 earnings below expectations and a subdued Q2 guidance. Like for the two competitors, this situation partly reflects the operating issues (strike in Finland, maintenance break in the US) and a lacklustre market environment, above all in Europe. Q1 adjusted EBITDA came to just € 38m, while we had forecast € 56m. By business area, Europe was ...
- Martijn Den Drijver
Bekaert : Material miss on Q1 2024 sales, 2024 EBIT margin guidance re...
>Material misses on Q1 sales for all divisions - Bekaert’s Q1 2024 sales update disappointed with all divisions reporting mid to high single digit misses versus consensus (BBRG even a 14% miss) and total sales missing consensus by 7%. Despite the misses, Bekaert says it has started the year well and in line with expectations. The company says it expects moderate sales growth in the remainder of the year and reiterates its 2024 guidance which calls for an EBITu margin ...
- Delphine Brault
- Quentin Borie
Alstom : € 1bn capital increase and € 750m of hybrid debt to bolster t...
>FCF of € 562m in H2, in line with targets - This morning, Alstom published its FY 2023-24 results (year to end-March). Order intake was € 19bn (book-to-bill of 1.08x), enabling backlog of € 91.9bn. Sales were up 9.4% l-f-l, at € 17.6bn and the adjusted EBIT was 5.7% (+50bp). The figures were broadly in line with forecasts. Net profit includes €147m restructuring charges and € 142m of integration costs, as well as € 118m in provisions to cover risk on two project...
- Christophe Chaput
Knaus Tabbert AG : Excellent profitability in Q1 and 2024 outlook unch...
>Q1 EBITDA higher than expected: € 38.8m vs € 38.1m est. - Knaus Tabbert delivered a quality set of Q1 results, although revenue grew more slowly than we expected by +2.2% to € 376.7m whereas we were looking for € 400.6m. The consensus, meanwhile, had forecast € 384.6m (difference -2%). Revenue growth was driven mainly by a mix effect (motor homes and camper vans accounted for 61% of volumes vs 53% a year previously) while total output dipped slightly by 8.6% to 7,588...
SRH Total Return Fund, Inc.: 1 director
A director at SRH Total Return Fund, Inc. bought 1,426 shares at 0.000USD and the significance rating of the trade was 66/100. 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 y...
Mullen Group Ltd: 1 director
A director at Mullen Group Ltd bought 100,000 shares at 12.844CAD 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 two years cle...
- Louis Boujard
- CFA
- Philippe Ourpatian
Endesa : Q1 2024 almost in line and 2024 guidance reiterated
>Q1 24 figures almost in line vs expectations - The company just released its Q1 2024 figures which are in line than our expectations and the consensus. On a recurring base (EBITDA € 1.08bn or -26%), figures are almost in line with our forecasts. Operating performance has been affected by the generation and supply business suffering from lower margins due to a tough basis of comparison vs 2023 despite better hydro conditions. Network still continues to deliver resilie...
- Klaus Breitenbach
Leifheit AG : Q1 2024 – A solid start to the year
>Significant improvement in profitability - Leifheit reported Q1 2024 turnover of € 65.9m (ODDO BHFe € 67.9m) which was down by 6.2% compared to the same period of last year. The turnover decline was already highlighted during the company’s FY 2023 results release on 27 March 2024 and is primarily due to a base effect in the same period of 2023, in which promotions at discounters made a significant contribution to turnover. The expansion of distribution in key Europea...
- Thijs Berkelder
Euronav : Still full in transition
>Ex disposals, Q1 results roughly in-line with expectations - Revenues in 24Q1 have fallen to $ 240.4m, down from $ 340m in 23Q1. Net revenues (after voyage expense) in 24Q1 have fallen to $ 203.5m (AAOB $ 197.9m) from $ 305.1m in 23Q1.EBITDA is reported at $ 550.5m but excluding disposal gain of $ 407.6m amounts to $ 142.9m (BB consensus $ 150m), down from $ 258.5m in 23Q1Net profit in 24Q1 has jumped to $ 495.0m (AAOB $ 492.6m) primarily thanks to the $ 40...
- Fabian Semon
GEA Group AG : Q1 adj. EBITDA slightly above, LPT with organic order i...
>Q1 organic sales growth is falling short expectations, other KPIs are slightly above, LPT = problem child? - Q1 2024 order intake declined 14% y-o-y to € 1,365m, which is 2% above the consensus estimate of € 1,334m. Order intake momentum in LPT remains depressed (-22% y-o-y organic order intake growth) with only one large order (€ 31m) received in Q1 (vs four/ € 102m in Q1 23) and even SFT reported a 5% y-o-y organic order intake decline. Sales declined by 2% y-o-y t...
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