Stable operations drove positive value changes

Q1 report: work in progress

Q1 report: drumming for clear AIR

Legrand : Un T1 en-dessous des attentes au niveau de la croissance org...

>T1 2024 : croissance organique -5.4%, marge d’EBITA ajusté 20.5% - Legrand a publié ce matin des résultats T1 2024 inférieurs aux attentes, du fait de la top-line. La croissance organique atteint -5.4% (ODDO BHF à -2.6%, consensus à -3.1%). Toutes les divisions affichent une évolution négative au T1. Contrairement à la plupart de ses pairs, les Etats-Unis n’ont pas joué leur rôle d’amortisseur avec un recul de 6.1% du CA en organique, et l’Europe est en recul de 4.7%...

Bonduelle : CA T3 en deçà des attentes. Guidance annuelle de croissanc...

>Baisse organique du CA de 1% vs +5%e avec une Europe stable et hors Europe en baisse de 3% - Bonduelle a publié hier soir un CA T3 4% en dessous de notre attente avec un effet de change moins dégradé que prévu. Le CA de 564.9 M€ (vs 588.1 M€) ressort en baisse de 1.3% en publié et de 1% en organique (vs +5%). Les ventes des deux zones sont plus faibles en organique. Les CA Europe progresse légèrement de 0.5% en publié et reste stable en organique à 378.8 M€. La cons...

Krones AG : Strong order intake momentum continues in Q1 (+3% vs cons)...

>Q1 group EBITDA up 9% y-o-y to € 125m, Process Technology surprised positively (EBITDA margin: 11.6%) - The order intake once again showed no signs of weakness in Q1 2024 by remaining almost flat y-o-y at a level of € 1,483m (against a tough base), which is 3% above the consensus estimate of € 1,438m (FactSet). The book-to-bill was maintained at >1.0x in Q1 2024 (as guided for FY 2024), which led to a continued surge in the order backlog to € 4,358m (+€ 236m q-o-q)....

PIERER Mobility AG: 1 director

A director at PIERER Mobility AG bought 40,000 shares at 37.740EUR 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 c...

Tejas Networks Ltd: 12 directors

Twelve Directors at Tejas Networks Ltd sold 64,369 shares at between 1,025.241INR and 1,082.947INR. The significance rating of the trade was 69/100. 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 directo...

Yong Pyong Resort Corp: 2 directors

Two Directors at Yong Pyong Resort Corp bought/maiden bought 11,309 shares at between 2,802.351KRW and 2,810.000KRW. The significance rating of the trade was 68/100. 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 ...

Q1 highly supportive for '24e turnaround story

Ontex : Getting stronger and better

>+100bps of adjusted EBITDA margin vs FY2023 - Overall in Q1 2024, Ontex realised € 551.3m in sales which is 2% lower with consensus and 15% lower than Q1 2023 (lfl: +3%). For Core markets (continued operations) revenue, there was a 0.5% beat on consensus (css: € 458m) and 3% higher than Q1 2024 (lfl: +4%). The last includes a volume and mix of +5% yoy driven by double digit in selected categories in North America, largely based on new contracts signed in H2 2023 and ...

AXA: VENTAS 1T’24 (ANÁLISIS BANCO SABADELL)

Ventas 1T'24 vs 1T'23: Ingresos total grupo: 33.972 M euros (+6,8% vs +4,7% BS(e) y +6,1% consenso); No Vida: 19.754 M euros (+6,5% vs +4,7% BS(e) y +5,5% consenso); Vida: 9.014 M euros (+7,4% vs +4,2% BS(e) y +7,4% consenso); Salud: 9.014 M euros (+9,5% vs +6,0% BS(e) y +6,2% consenso); Gestión de activos: 385 M euros (2,7% vs 3,2% BS(e) y 0,0% de consenso).

Investment im Fokus - tick Trading Software AG - 03.05.2024

Mit der Gründung der tick Trading Software AG (tick TS) im Jahre 2002 setzten sich Oliver Wagner, Matthias Hocke und weitere Unternehmer aus der Finanzindustrie die Entwicklung einer der professionellsten und fortschrittlichsten Handelsplattformen zum Ziel. Mit der TradeBase Multi Exchange Plattform (TBMX) stellt die tick TS AG diese nun seit mehr als 20 Jahren erfolgreich ihren Kunden zur Verfügung. Seit einigen Jahren komplettieren neben der TBMX-Plattform direkte Anbindungen an nationale und ...

JCDecaux : Solid advertising momentum, upgrade to our estimates. Outpe...

>Outperform rating confirmed - JCDecaux’s Q1 sales, reported yesterday evening, beat our expectations, with organic growth of 11% vs our forecast of 9.5% and the group’s guidance of 9%. The start of the year is thus solid and very robust, although the situation in China remains lacklustre. The group did not hold a conference call but its organic growth guidance is 12% for Q2, while we forecast 9.5% and the consensus around 9%. Note the fairly tough comps in Q2, with +...

Moderna : A better than expected Q1 2024 publication

>Q1 2024 earnings beat forecasts, 2024 guidance confirmed - Moderna reported yesterday during trading Q1 2024 earnings above forecasts. In brief, Q1 sales stood at $ 167m, +60% above forecasts. On the operating front, we note strong cost control justifying a net loss that was better than expected (-$ 1.2bn, 12% above forecasts). Lastly, the company’s cash position remains just as robust with $ 12.2bn at the end of March, vs $ 13.3bn at the end of last year.The ke...

GBL 1Q FY24: NAV rises 2%; Adidas Stake Trimmed To 6.9%

During 1Q FY24, GBL posted a NAVps of €115.9ps, up 2.0% vs €113.6ps during FY23-end. GBL crystallized value on a portion of its Adidas stake by trimming its position from 7.9% to 6.9% - this generated €258.0m in cash proceeds of which €155.0m was capital gains. Both healthcare participations reported strong top line growth which was complimented by M&A while private assets cumulatively rose by €36.0m in FV. GBL Capital generated €94.0m in value and €37.0m in cash earnings. Sienna IM recorded inf...