reports
- Louis Boujard
- CFA
- Philippe Ourpatian
EDP Renovaveis : Q1 24 slightly better than expected ahead of the conf...
>Q1 24 slightly better than expected - The company has just released figures for Q1 24 slightly better than expectations. As already published, the group reported an installed capacity of 15,301 MW (MW EBITDA, excluding equity accounting) and 16,498 MW (including equity accounting). Net installed capacity is down by 184 MW EBITDA excluding equivalents (i.e. a drop of 1.2%) vs 15,485 MW at the end of March 2023 due to asset turnover (638 MW) which more than offset the ...
- Martin Marandon-Carlhian
- Stephane Houri
Arm Holdings plc : With this valuation, results > forecasts but full-y...
>Q4 24 > forecasts, driven by royalties and licences also far > forecasts - Revenues for Q4 24 came to $ 928m i.e. +47% y-o-y, > the consensus of $ 881m and guidance of $ 900-850m, giving an average point of $ 875m. This performance can be explained notably by royalties of $ 514m at +37% y-o-y (after +11% in Q3), > the consensus of $ 505m, reflecting greater penetration for ARMv9 with notably brisk growth on the smartphone market as well as infrastructure. It is also ...
- Louis Boujard
- CFA
- Philippe Ourpatian
EDP Renovaveis : Q1 24 slightly better than expected ahead of the conf...
>Q1 24 slightly better than expected - The company has just released figures for Q1 24 slightly better than expectations. As already published, the group reported an installed capacity of 15,301 MW (MW EBITDA, excluding equity accounting) and 16,498 MW (including equity accounting). Net installed capacity is down by 184 MW EBITDA excluding equivalents (i.e. a drop of 1.2%) vs 15,485 MW at the end of March 2023 due to asset turnover (638 MW) which more than offset the ...
Walker & Dunlop Inc: 1 director
A director at Walker & Dunlop Inc sold 4,533 shares at 97.330USD and the significance rating of the trade was 65/100. 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 clea...
Safe Bulkers Inc: 1 director
A director at Safe Bulkers Inc sold 40,000 shares at 5.347USD and the significance rating of the trade was 65/100. 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...
- Stephane Beyazian
Telefonica : Le Brésil tire toujours l’activité
>Un T1 2024 en ligne avec les attentes - Telefonica publie un CA du T1 2024 en hausse de 2% à 10 140 M€ (1% au-dessus du consensus de 10 057 M€), porté par le Brésil (croissance de 10%). L’EBITDA ressort en hausse de 2% à 3 205 M€ (1% au-dessus du css de 3 174 M€) mais l’EBITDAaL simplement en ligne. Le FCF au T1 2024 ressort en négatif de 44 M€ (vs consensus de gain de 111 M€). Les objectifs 2024 sont confirmés. Pour 2024, Telefonica vise une croissance du CA de...
- Jean-François Granjon
Prysmian : Un début d’exercice supérieur aux attentes – Guidances conf...
>Publication des résultats T1 supérieurs aux attentes - Prysmian publie des résultats T1 supérieurs à nos attentes et celles du consensus. Le CA trimestriel ressort à 3.687 M€ (4052.2 M€ estimé, 3709.7 M€ pour le Css) vs 3992 M€ en repli de 7.6% et de -5.6% en organique. Les résultats trimestriels traduisent une légère baisse de l’EBITDA ajusté de 3.5% à 412 M€ (382 M€ estimé, 384.3 M€ pour le Css) vs 427 M€ YoY. La marge d’EBITDA ajustée ressort ainsi à 11.2% (9.4% e...
- Hilde Van Boxstael
- Lynn Hautekeete
- Michiel Declercq
- Thomas Vranken
- Wim Lewi
- Chris Turner
- Francesco Pesole
- Frantisek Taborsky
FX Daily: Sterling on the edge
Amid quiet FX trading conditions, attention during European hours falls squarely on the Bank of England's policy decision announced at 1:00pm CET. The big question is whether sterling should be priced closer to the Fed/dollar cycle or closer to the ECB/euro. It may be too early for the BoE to signal a June hike today, but we see downside risks to the pound
- Emna Ben Bdira
- Maxime Kogge
Aurubis : Outlook still in good shape despite ongoing TC/RC slump
>Positive indications on H2 thanks to metals prices and recycling - Aurubis’ Q2 2023-24 results (to end-March), reported yesterday, were pretty good and in line with expectations (see our first take published yesterday). But the market reaction was mixed, with the stock shedding up to 3.5% to end the day down 0.9%. And yet Aurubis slightly upgraded its outlook with the CEO Roland Harings indicating in the call that he now expects to stand in the midrange of the 2023...
- Emmanuel Matot
- Martin Marandon-Carlhian
Nexi S.p.A : Bon début d’année par rapport aux guidances annuelles
>Croissance organique du CA et de l’EBITDA au-dessus des attentes au T1 - Nexi vient de publier ses résultats au titre du T1 2024. Ils dépassent les attentes avec un CA en croissance organique de 6.0% à 782 M€ (vs ODDO BHF / consensus = +4.5/+5.3% à 775/776 M€ - rappel 2023 = +7.0%) et un EBITDA en progression proforma de 8.6% à 362 M€ (vs ODDO BHF / consensus = +6.1/+6.5% à 356/355 M€) soit une marge d’EBITDA en hausse comparable de 112 pb à 46.3% (vs ODDO BHF / con...
Moody's assigns A1 to Shizuoka Prefecture's bonds due March 2029 and M...
1/4NEWSContact:東京 東京粟野 幸子 セメトコ 真理子主任格付アナリスト／アナリスト 格付責任者／ｱｿｼｴｲﾄ･ﾏﾈｰｼﾞﾝｸﾞ･ﾃﾞｨﾚｸﾀｰサブソブリン・グループ コーポレート・ファイナンス・グループムーディーズ・ジャパン株式会社 ムーディーズ・ジャパン株式会社お客様専用電話番号：03-5408-4100報道関係者電話番号：03-5408-4110お客様専用電話番号：03-5408-4100報道関係者電話番号：03-5408-4110[MJKK]静岡県が発行する債券にA1の格付を付与 2024年5月9日、東京、ムーディーズ・ジャパン株式会社は、以下の格付を付与したことを公表...
Sogefi: 1 director
A director at Sogefi sold 100,000 shares at 3.010EUR and the significance rating of the trade was 73/100. 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 ...
- Thomas Vranken
argenx FIRST LOOK: 1Q24 results on track, all eyes set on CIDP
This morning argenx reported its 1Q24 update, highlighting $ 398m sales and its pipeline progress. Mgmt is fully focused on expanding its commercial footprint into CIDP (PDUFA: June 21). Meanwhile, AAV was scrapped from the pipeline and systemic sclerosis (SSC) added. We maintain our € 435 TP and Buy rating.
Moody's Ratings assigns definitive ratings to Taurus 2024-1PP auto ABS
Moody's Ratings (Moody's) has assigned the following definitive ratings to notes issued by BNY Trust Company of Australia Limited in its capacity as the trustee of the Taurus 2024-1PP Trust. IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. SUCH USE W...
- Paul Charpentier
Nexi - Solid start to the year
Nexi reported solid numbers in Q1 2024 with 6.0% revenue growth that was 70bp above expectations. As the consensus already factors in a deceleration in organic growth and a contained increase in profitability for FY2024e, we see limited downside to current expectations. Given that the valuation mul
- Oscar Haffen Lamm
MedinCell: Continues to deliver! We are confident on the safety readou...
Yesterday, Teva and MedinCell announced positive phase 3 efficacy results from its phase 3 trial evaluation mdc-TJK (TEV-'749), a LAI olanzapine, as a once-monthly SC LAI in adults with Schizophrenia. The study met its primary endpoint achieving stat. sig. reductions across all three mdc-TJK doses
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