>FY 2023 results in line with preliminary figures - Allane SE released its final FY 2023 results, which came in in line with preliminary figures and the group’s guidance. The main results are as follows: 1/ Consolidated revenues increased by 8.4% to € 619.2m, o/w an increase of 2.4% from sales revenue (€ 277m), due to slight increase in the volume of vehicles sold as a result of continued high demand for used vehicles, with unit prices remaining almost constant...
>Q1 revenues beat expectations: +0.9% on a pro-forma basis vs consensus at -0.8% (-0.2% ODDO BHF)) - Téléperformance reported Q1 revenues a shade above expectations. Revenues were up 26.7% to € 2,542m, compared consensus forecast at € 2,512m (a difference of +1.1%). We were expecting € 2,555m. Most of the difference is due to pro forma growth at constant currency of 0.9%, which is a good performance, as we were expecting -0.2% (consensus -0.8%). For the record, the c...
>Upstream : un profil de croissance solide renforcé par les découvertes en Namibie - L’EBITDA T1 2024 ajusté de l’Upstream est ressorti à 591 M€ et 9% au-dessus des attentes. Le groupe guide sur un EBITDA 2024 de la division à 2.1 Md€ qui nous parait assez conservateur et une production >115 kbep/j en ligne avec nos attentes. Cette production devrait croitre de de plus de 30% (+40 kbep/j) avec le démarrage de Bacalhau au Brésil fin 2025 qui devrait atteindre son pl...
Gabriel Holding A/S - første halvår af regnskabsåret 2023/24 Resume: Gabriel Holding A/S første halvår realiseres bedre end forventet som følge af vækst i koncernens globale tekstilforretning. Udvalgte nøgletal og kommentarer: Der er i halvåret realiseret vækst i koncernens globale tekstilforretning herunder især i forretningsenhederne Gabriel Fabrics og SampleMaster. De møbelpolstrende enheder (FurnMaster) realiserer som forventet en reduceret omsætningKoncernens totalomsætning blev 469,0 mio. kr. (492,0 mio. kr.)Resultat før af- og nedskrivninger (EBITDA) blev 35,0 ...
Gabriel Holding A/S – first half of the 2023/24 financial year Summary: First half-year better than expected at Gabriel Holding A/S as a result of growth in the Group’s global fabric business. Selected financial highlights and comments: The Group achieved growth in its global fabric business in the half-year, in particular in the business units Gabriel Fabrics and SampleMaster. As expected, revenue from the furniture upholstery units (FurnMaster) was lowerThe Group’s total revenue was DKK 469.0 million (DKK 492.0 million)Earnings before depreciation, amortisation and impair...
>FY 2023 results in line with preliminary figures - Allane SE released its final FY 2023 results, which came in in line with preliminary figures and the group’s guidance. The main results are as follows: 1/ Consolidated revenues increased by 8.4% to € 619.2m, o/w an increase of 2.4% from sales revenue (€ 277m), due to slight increase in the volume of vehicles sold as a result of continued high demand for used vehicles, with unit prices remaining almost constant...
A director at Itsec Asia Tbk PT bought 6,741,700 shares at 330.670IDR and the significance rating of the trade was 70/100. 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...
A director at Forestar Group Inc maiden bought 3,210 shares at 31.150USD 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 ye...
A director at Huhtamaki Oyj maiden bought 1,000 shares at 39.145USD and 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 directors over the last two years c...
>Dip in organic growth in Q1 not as big as expected at 5.4% thanks to a better trend in volumes - Glanbia yesterday released its interim management statement for the first three months. Q1 organic growth came in ahead of our estimate at -5.4% (vs -7.5%e). It is based on volume growth of 1.5% (vs +0.7%e) and a price effect of -6.9%, mainly reflecting dairy product prices and promotional operations for GPN. Growth in volumes is mainly attributable to: 1/ growth of 1.4%...
>Capital increase of € 8m with a discount of 10% - Crossject on Tuesday announced the launch of a capital increase for € 8m. This deal is secured through its long-standing shareholder Gemme Venture. The latter has committed to subscribing to at least € 1.96m worth (24.5% of the capital increase) and will guarantee a total amount of € 6m, or 75% of the fund raising.The subscription price is € 1.848 which equates to a discount of 10% to the last share price (4.3m n...
Man Group PLC : Form 8.3 - Tyman plc FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORERule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser:Man Group PLC(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. (c) Name of offeror/offeree in relation to whose relevant securities this form...
Prudential’s 1Q24 ANP/NBP growth came in below expectations with 7%/11% yoy growth respectively, dragged by muted performance from China and Hong Kong on a high base, but offset by strong growth in Malaysia and the other markets segment. NBP margin ex-economic impact improved to 50% due to favourable product mix in the Greater China segment. The company will provide an update on capital management plans during its 1H24 results. Maintain BUY. Target price: HK$134.00.
Shuanghuan’s 1Q24 results arrived at the midpoint of its profit guidance, which is in line with our and consensus estimates. Both the ICE-car and EV gear businesses registered a solid >20% yoy growth, while the civil gear business managed to register a profit during the quarter. For 2024, a recovery in ICE-car gears, product upgrade for EV gears, and the rapid expansion of the civil gear business seem to be the key growth drivers for Shuanghuan. Maintain BUY and keep target price at Rmb27.60.
>Miss on EBITDA, faster deterioration trade working capital - BAM reported Q1 sales of €1.4bn, exactly in line with our estimate (no css available). Adj. EBITDA came in at €44m, a clear miss versus our expectation of €59m (Q1 2023 €58m), representing a margin of just 3.1% versus 4.2% expected (Q1 2023 4.1%). The orderbook came in at €10.7bn, roughly €1bn higher than our estimate, which was more or less in line with the orderbook at year-end. This is encouraging as it ...
>Organic growth low but ahead of expectations - Worldline reported its Q1 2024 revenues. Organic growth was weak at +2.5%, but above expectations (ODDO BHF / consensus = +1.2/+0.7%) and marks an improvement on the low point of Q4 2023 (+1.3%).Merchant Services turned out to be stronger than expected (+3.9%, of which +6.5% excluding planned merchant termination- Q4 2023 reminder = +3.2%) thanks to good results in new markets (such as Italy). Unsurprisingly, Financ...
Yum China’s 1Q24 earnings beat consensus forecasts by 7% due to better G&A cost savings. Management sees a similar high base for 2Q24, given the strong demand recovery last year and intense competition. For 2024, the focus remains on driving traffic growth through smaller ticket size item offerings and marketing campaigns. KFC recently developed a mini-store model (capex per store: Rmb0.5m) for store expansion in lower-tier cities, which is expected to enhance cost efficiency.
WuXi AppTec’s reported 1Q24 revenue and adjusted net profit declined by 11.0% yoy and 18.3% yoy respectively. The results are lower than our estimates. The draft Bill brings considerable business uncertainty for the company and has led to a decrease in new projects. Thus far, the overall business has remained relatively stable. Management maintains its revenue guidance of Rmb38.3b-40.5b for 2024. Maintain SELL and target price of HK$28.00.
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