reports
- Jean-François Granjon
Nexans : Excellent start to the year and full-year guidance confirmed
>Q1 revenues in line with our expectations - Nexans reported standard revenues (on constant non-ferrous metal prices) of € 1.692bn (€ 1.6932bn est.) vs € 1.674bn up 1% and +2.8% in organic terms (+1.2% est.). Excluding the metallurgy business, which is deliberately lower, organic growth came to 4.7% despite fairly adverse comps (+6.5%). For the electrification business (60.5% of the total), revenues came to € 1.025bn, up by 6.7% in organic terms (+6.2% est.).§h...
- Emna Ben Bdira
- Maxime Kogge
SSAB : Sound Q1 results thanks to Special Steels and Europe, decent Q2...
>Q1 a strong beat on Europe and Special Steels, Americas more underwhelming - SSAB delivered better-than-expected Q1 results with EBITDA at SEK 4.1bn, 18% > consensus and 26% > ODDO BHF. The beat was essentially driven by the Special Steels division which achieved SEK 2.1bn of EBITDA, 45% > consensus on very sound volume growth (+17% q-o-q) as good demand in material handling offset weakness in construction. Europe also outperformed with EBITDA at SEK 0.6bn, 44% > con...
Warehouses De Pauw SA: 1 director
A director at Warehouses De Pauw SA bought 16,000 shares at 25.550EUR and the significance rating of the trade was 63/100. 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...
KD d.d: 1 director
A director at KD d.d bought 215 shares at 597.442EUR and the significance rating of the trade was 63/100. 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 showing ...
- Jeremy Garnier
Serge Ferrari : A slightly weaker start to the year than expected
>Q1 sales down 13.4% (-14.1% lfl) to € 73.5m (vs € 77.5me) - Serge Ferrari released its Q1 2023 sales figures yesterday evening and they came out slightly lower than we expected. Group sales fell by 13.4 y-o-y to € 73.5m (vs € 77.5me), penalised by unfavourable base effects (Q1 2023 sales up 7.3%). The decline over the quarter included: i/ a negative mix-price effect of 1.8%, ii/ a negative volume effect of 11.8%, iii/ a currency effect of -0.5% and iv/ a scope effect...
CGG: Availability of the preparatory documents for the Combined Genera...
CGG: Availability of the preparatory documents for the Combined General Meeting CGGSociété Anonyme with a share capital of €7,136,762Registered office: 27 avenue Carnot, 91300 MassyEvry Trade and Company Register No.: 969 202 241 AVAILABILITY AND CONSULTATION OF THE PREPARATORY DOCUMENTS FOR THE CGG COMBINED GENERAL MEETING OF WEDNESDAY, MAY 15, 2024 Massy, France – April 24, 2024 The Combined General Meeting of CGG (the “Company”) will be held on Wednesday, May 15, 2024 at 10:30 a.m. at Business Center Paris Trocadéro, 112 avenue Kléber, 75016 Paris, France. The meeting notice publi...
CGG : Communiqué de mise à disposition des documents préparatoires à l...
CGG : Communiqué de mise à disposition des documents préparatoires à l'assemblée générale mixte CGG Société anonyme au capital de 7 136 762 €Siège social : 27 avenue Carnot91300 Massy969 202 241 R.C.S. Evry MISE A DISPOSITION ET CONSULTATION DES DOCUMENTS PREPARATOIRES A L’ASSEMBLEE GENERALE MIXTE DE CGG DU MERCREDI 15 MAI 2024 Massy, France – 24 avril 2024 L’Assemblée Générale Mixte de CGG (la « Société ») se tiendra le mercredi 15 mai 2024 à 10 heures 30 au Business Center Paris Trocadéro, 112 avenue Kléber, 75016 Paris L’avis de réunion publié au Bulletin des Annonces Légales Obli...
- Oliver Metzger
- Stephan Wulf
Evotec SE : Slight miss at the adj. EBITDA level – 2024 guidance not h...
>2023 adj. EBITDA slightly below expectations - Evotec reported FY 2023, with revenue broadly in line with expectations at € 781.4m (+4%) vs cons of € 784.9m and our estimates of € 784.8m. The company’s adjusted EBITDA of € 66.4m (-34.7%) was within its guidance of € 60-80m but slightly below cons of € 69m and below our estimates of € 69.4m.2024 guidance not helpful at this stage - For 2024 the company is guiding a double digit increase of its top li...
BOLLORE :
BOLLORE : Le 24avril 2024 BOLLORÉ SE Mise à disposition du document d’enregistrement universel 2023 Bolloré SE a déposé, le 23 avril 2024, son document d’enregistrement universel 2023 auprès de l’Autorité des Marchés Financiers (AMF) sous le numéro D.24-0316.Ce document peut être consulté sur le site Internet de la société, à l’adresse suivante : (Publications et presse/Informations réglementées/Document d’enregistrement universel).Le document d’enregistrement universel inclut notamment le rapport sur le gouvernement d’entreprise joint au rapport de gestion, le rapport financier annuel ...
- Carl Smith
Audio Note: Pod Point Group - Recharging after a tough FY23
In this audio note, Zeus’ Carl Smith summarises the investment case for Pod Point Group. Pod Point’s FY23 results confirmed a sharp decline in revenue and widening losses but were slightly ahead of Zeus expectations and showed positive momentum in H2 2023. Listen to the audio note below, and read the full research here.
- ABGSC Shipping & Transport Research
- Oliver Dunvold
- Petter Haugen
- Wim Gille
CM.com : Buckle up, CM.com is restarting its growth engines
>We cut our gross profit forecast by 10%, but increase EBITDA by 7% - FY 2023 revenues fell materially below our forecast as the shift from growth to value had a bigger impact on revenues than anticipated. This was partially mitigated by slightly higher gross margins and much better cost control. In this report we lower our revenue forecast by 15% and our gross profit forecast by 10%. Our EBITDA forecast for FY 2024-25 increases by 7%.Restarting the growt...
- Damien Choplain
- Martial Descoutures
Roche Holding : Q1 in line - Guidance confirmed, forex less unfavourab...
>Q1 saved by Vabysmo - Q1 sales at group level were in line with the consensus, up 2% cc (-6% CHF). The pharmaceuticals (+0.9% vs cons.) business was up 2% cc (-6% CHF) largely driven by Vabysmo (96%, 11% vs cons.) and Phesgo (+61%, 23% vs cons.), to a lesser extent. Flagship products like Ocrevus (1.3%, -0.4% vs cons.), Hemlibra (0.6%, -3.1% vs cons.) and even Tecentriq (-6%, -5.5% vs cons.) delivered clearly disappointing performances. The diagnostics activity grew...
Title correction: EXEL Industries : Second quarter 2023–2024 sales dow...
Title correction: EXEL Industries : Second quarter 2023–2024 sales down 1.8% Second quarter 2023-2024 sales: down 1.8% Varying sales performance across activities Q2 sales(January 2024–March 2024) 2022-2023 2023-2024 Change (reported) Change (LFL*) Reported Reported €m % €m % AGRICULTURAL SPRAYING 147.7 157.4 +9.7 +6.5% +12.0 +8.1% SUGAR BEET HARVESTERS 34.3 17.1 -17.2 -50.1% -17.1 -4...
Correction du titre: EXEL Industries : Chiffre d’affaires 1er trimestr...
Correction du titre: EXEL Industries : Chiffre d’affaires 1er trimestre 2023–2024 - 1,8 % Chiffre d’affaires 2e trimestre 2023–2024 : - 1,8 % Des ventes contrastées selon les activités Chiffre d'affaires T2(janvier 2024–mars 2024) 2022–2023 2023–2024 Variation à données publiées Variation à tcpc* Publié Publié Millions € % Millions € % PULVÉRISATION AGRICOLE 147,7 157,4 + 9,7 + 6,5 % + 12,0 + 8,1 % ARRACHAGE DE BETTERAVES 34,3 17,1 - 17,2 - 50,1 % - 17,1 - 49,9 % LOISIRS 48,4 47,4 - 1,0 - 2,0 % - 4,4 - 9,0 % INDUSTRIE ...
- Geoffroy Michalet
Tikehau Capital : Bonne collecte au T1, mais le groupe atrophie encore...
>Collecte nette de 1.5 Md€ et forte croissance des AUM - Tikehau Capital affiche des AuM pour le T1 2024 en AM à 44.4 Md€, en hausse de 3% (+ 1.2 Md€) vs fin 2023 et des AuM globaux (incluant le bilan) en hausse de 3% (+1.3 Md€). Cette hausse au T1 est la résultante des quatre facteurs impactant les AuM : +1.5 Md€ de collecte nette (vs. 1.2 Md€ au T1 2023), soit +6.8 Md€ sur 12 mois. - 0.5 Md€ de distribution. + 0.4 Md€ d’effets de marchés et -0.1 ...
- Jan Frederik Slijkerman
- Jeroen van den Broek
- Jesse Norcross
- Nadège Tillier
- Timothy Rahill
- ING Helpdesk
Benelux Morning Notes
ASM International: 1Q24 results - better on all fronts. Heineken: Uphill from here. KPN: 1Q24 in line, guidance slightly increased on Youfone acquisition. Melexis: 1Q24 results in line a relief. Universal Music Group: Spotify 1Q24 Results and guidance beat on margins. Vopak: Good progress to start the year. Wereldhave: 1Q24 LFL slows sharply
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 15 April - 19 April 2024
Bulgarian stock indexes ended last week on a negative note, after the tone in global markets seems to have shifted with continuing uncertainty and volatility. The leading local index SOFIX lost 0.5% to close at 805.96, as extended indexes BGBX40 (164.27) and BGTR30 (809.49) declined by -0.5% and -0.8% respectively, repeating benchmark presentation. The weekly top performer within our list of selected companies was the industrial Alcomet (ALCM, BGN 7.0, +7.7%), followed by Speedy (SPDY, BGN 165...
- ABGSC Credit Research
- Andreas Johannessen
- Bendik Fougner Engebretsen
- Glenn Kringhaug
- Haakon Amundsen
- Patrik Brattelius
- Son Thanh Luu
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