Q1: Good financials, slow ConfIdeS

Q1: solid quarter for Patricia Industries

Nokia : Slightly better results, improving orders

>Q1 2024 results above expectations thanks to Nokia technologies and a better mix in Mobile, improving orders in Networks - Revenues totalled € 4.67bn, down 19% y-o-y at cc below the consensus at € 4.96m. Non-IFRS gross margin was 48.6%, above the consensus at 43.7% thanks to a strong contribution from Nokia Technologies which benefited from significant catch-up net sales in addition to a significant improvements in Mobile Networks partly due to the regional and produ...

Edenred : Q1 2024 beating estimates and reassuring on underlying growt...

>Q1 2024 revenue higher, with organic beat - Edenred has reported total Q1 2024 revenue of € 685m, 3% above forecasts (consensus at € 666m), i.e. a reported increase of 21.4%, of which +20.5% organic, +5.2% from M&A and -4.4% from the forex effect. Organic growth in operating revenues in Q1 was +16.9%, above the consensus at 14.2% (ODDO BHF 13.9%). All the regions are dynamic in organic terms, o/w Europe at +12.8% in Q1 (vs consensus +11.8%), including +7.9% in Fran...

SFA Engineering Corp: 1 director

A director at SFA Engineering Corp bought 1,300 shares at 24,350.000KRW 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 yea...

Sampath Bank Plc: 1 director

A director at Sampath Bank Plc sold 19,850,000 shares at 80.244LKR and the significance rating of the trade was 72/100. 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 cl...

Global Top E-Commerce Co Ltd: 1 director

A director at Global Top E-Commerce Co Ltd sold 2,538,800 shares at 2.170CNY 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 tw...

Solid Q1 despite weak sales growth

Slight miss and growth comes down

Verimatrix : T1 24 en ligne. La transformation apparait de plus en plu...

>CA T1 2024 en ligne avec nos attentes à 14 M$, quasi-stable y/y (+1%) - Au T1, le CA de Verimatrix est ressorti à 14 M$, quasi-stable à +1% y-o-y, en ligne avec nos attentes (ODDO BHF 14.1 M$). Ce niveau d’activité reflète toujours des tendances contrastées avec un mix positif entre revenus récurrents (qui affichent une croissance meilleure qu’attendue) et revenus non récurrents (un peu plus faible qu’anticipé). Dans le détail, les revenus récurrents (60% des ventes)...

SARTORIUS AG : Some stabilisation, but sales and order intake below ex...

>Stabilisation of revenues, sequential improvement of order intake continues - Q1 revenues of € 820m (-9.3% y-o-y, -5%/-5% vs ODDO BHF/consensus) were impacted by a constant currency decline of 7.6% including 200bp coming from external growth. Sartorius continued to be impacted by destocking. Order intake of € 826m (-5.6% y-o-y) was -6%/-7% below expectations. We rate the development of the order book as still negative given the ongoing headwind. Adj. EBITDA of € 234m...

Sartorius Stedim Biotech : Q1 review -Some stabilisation, but sales an...

>Q1 with some stabilisation – sales and order intake weaker than expected - Q1 2024 revenues of € 667m (-8.1% y-o-y,-2%/-4% vs ODDO BHF/consensus) were impacted by an organic decline of 9.4%. The decline in constant currencies was at -6.7%. Sartorius Stedim Biotech was impacted by mixed dynamics across its portfolio and regions. Demand continued to normalise the consumables business with positive order momentum, which indicates further progress in destocking. Simultan...

Marie Brizard Wine & Spirits : 2023 results ahead of expectations. Uns...

>EBITDA up 12.2% at € 13.1m vs € 12.4m est. and positive net income of € 8.7m vs € 7.2m est. - MBWS’ results, reported yesterday evening, beat our expectations. EBITDA came in 12.2% higher at € 13.1m vs € 12.4m expected on already-reported sales of € 194.2m (+7.1% rep. and 7.2% in organic terms). The gross margin remains largely stable at € 70.7m, implying a drop in the gross margin of 270bp to 36.4%. Raw material and energy cost inflation and an unfavourable product ...

BHP ltd : Q1 production update: solid in iron ore and copper but renew...

>Decent numbers in iron ore, copper and energy coal, weak in met coal and nickel - Overnight, BHP published decent, in-line production numbers for Q3 2023-24 (closed 31 March) in the core Iron Ore and Copper divisions but weak in Met Coal. Production at the main WAIO iron ore division was down 1% y-o-y at 68.1mt due to heavy rainfall, maintenance on the train network and a number of hiccups in ramping up the new mines, South Flank and Mining Area C, thus standing 1% ...

ABB Ltd. : A robust start to the year, part of the guidance for 2024 r...

>Q1 2024: book-to-bill of 1.14x, operational EBITA 4% above expectations - This morning, ABB published Q1 sales of $ 7,870m, up 2% l-f-l vs 5% anticipated by the consensus, an “operation EBITA” margin of 17.9% ($ 1,417m) vs 16.8% estimated ($ 1,364m) and order intake of $ 8,974m (a 4% decline l-f-l), better than expected. The book-to-bill was therefore 1.14x. By market, demand remains robust in medium-voltage but the group mentioned (for the first time) a decline in p...