reports
- Ahmed Ben Salem
FP TOTAL SE
AC ACCOR SA
SGO COMPAGNIE DE SAINT-GOBAIN SA
EQNR EQUINOR ASA
DG VINCI SA
BVI BUREAU VERITAS SA
ADP AEROPORTS DE PARIS SA
AAL ANGLO AMERICAN PLC
SU SCHNEIDER ELECTRIC SE
BNP BNP PARIBAS SA CLASS A
SK SEB SA
GFC GECINA SA
RMS HERMES INTERNATIONAL SCA
RCO REMY COINTREAU SA
SAF SAFRAN S.A.
AIR AIRBUS SE
DTE DEUTSCHE TELEKOM AG
WPP WPP PLC
REP REPSOL SA
MOCORP METSO OUTOTEC OYJ
SKF B SKF AB CLASS B
INX IMCD N.V.
CLNX CELLNEX TELECOM S.A.
STM STMICROELECTRONICS NV
UMI UMICORE
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
ADYEN ADYEN NV
DSY DASSAULT SYSTEMES SA
SGSN SGS SA
TEN TENARIS S.A.
- Ahmed Ben Salem
FP TOTAL SE
AC ACCOR SA
SGO COMPAGNIE DE SAINT-GOBAIN SA
EQNR EQUINOR ASA
DG VINCI SA
BVI BUREAU VERITAS SA
ADP AEROPORTS DE PARIS SA
AAL ANGLO AMERICAN PLC
SU SCHNEIDER ELECTRIC SE
BNP BNP PARIBAS SA CLASS A
SK SEB SA
GFC GECINA SA
RMS HERMES INTERNATIONAL SCA
RCO REMY COINTREAU SA
SAF SAFRAN S.A.
AIR AIRBUS SE
DTE DEUTSCHE TELEKOM AG
WPP WPP PLC
REP REPSOL SA
MOCORP METSO OUTOTEC OYJ
SKF B SKF AB CLASS B
INX IMCD N.V.
CLNX CELLNEX TELECOM S.A.
STM STMICROELECTRONICS NV
UMI UMICORE
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
ADYEN ADYEN NV
DSY DASSAULT SYSTEMES SA
SGSN SGS SA
TEN TENARIS S.A.
- Olfa Taamallah
- Yan Derocles
Safran : Q1 sales 1.2% above css with positive mix – FY 2024 guidance ...
>Q1 2024 sales 1.2% above css thanks to volume recovery in Equipment and services across the board - Q1 2024 sales came out 1.2% above consensus expectations at € 6,220m (ODDO BHF: € 6,080m, company compiled css: € 6,145m), showing a 19.1% l-f-l increase. In details:Propulsion sales were up 15.4% l-f-l to € 3,097m thanks to a solid civil aftermarket growth of 27.3% (vs 24% expected) driven by stronger-than-expected growth in LTSA (CFM56 and Leap) as well as incre...
- Alvaro del Pozo
- Olfa Taamallah
- Yan Derocles
Safran : Q1 sales 1.2% above css with positive mix – FY 2024 guidance ...
>Q1 2024 sales 1.2% above css thanks to volume recovery in Equipment and services across the board - Q1 2024 sales came out 1.2% above consensus expectations at € 6,220m (ODDO BHF: € 6,080m, company compiled css: € 6,145m), showing a 19.1% l-f-l increase. In details:Propulsion sales were up 15.4% l-f-l to € 3,097m thanks to a solid civil aftermarket growth of 27.3% (vs 24% expected) driven by stronger-than-expected growth in LTSA (CFM56 and Leap) as well as incre...
- Research Department
INFORME DIARIO 26 ABRIL + RDOS. ESPAÑA Y EUROPA 1T’24. IDEAS DESTACADA...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, ACCIONA ENERGÍA, CAF, CELLNEX, IBERDROLA, FERROVIAL, ROVI. EUROPA: AIRBUS, DEUTSCHE TELEKOM, SAFRAN, VINCI. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 1T’24 que se publicarán en España y Europa en los próximos días. Los resultados y la macro lastran las bolsas Tras tres días de ganancias, los r...
- Dave Nicoski
- Ross LaDuke
Vermilion Int'l Compass: Global Equity Strategy
Upgrading Europe to Overweight Considering the fact that several 5% pullbacks and roughly one 10% pullback are to be expected in any given year, we continue to view the latest pullback as healthy and normal within the ongoing bull market -- MSCI ACWI (ACWI-US) has had a 5.5% pullback from its 2024 highs, while the EURO STOXX 50 pulled back 4.5%. We discussed last Thursday (4/18/24 Int'l Compass) how further downside may be limited with these two indexes already 4-5% off their highs, combined wi...
Adam Peters, Directeur Général d’Air Liquide en Amérique du Nord, rejo...
PARIS--(BUSINESS WIRE)-- Regulatory News: Air Liquide (Paris:AI): Adam Peters est nommé membre du Comité exécutif du Groupe à compter du 1er mai 2024. Il intégrera le Comité Exécutif dans son rôle actuel de Directeur Général du Cluster Amérique du Nord d'Air Liquide. Adam a débuté sa carrière chez Air Liquide en 1996 et a passé près de 10 ans dans l'activité Électronique du Groupe, où il a occupé diverses fonctions commerciales et d'ingénierie. En 2006, Adam Peters rejoint l’activité Grande Industrie d’Air Liquide aux Etats-Unis et est nommé Directeur, Installations en clientèle. Il est ...
- Alfonso Mariategui
- Chaima Ferrandon
- Sven Edelfelt
HEIA HEINEKEN NV
AI AIR LIQUIDE SA
IPN IPSEN SA
DB1 DEUTSCHE BOERSE AG
KNEBV KONE OYJ CLASS B
RNO RENAULT SA
KPN ROYAL KPN NV
COV COVIVIO SA
ROG ROCHE HOLDING LTD
ORA ORANGE SA
SSAB A SSAB AB CLASS A
FGR EIFFAGE SA
KER KERING SA
RAND RANDSTAD NV
ENI ENI S.P.A.
ASM ASM INTERNATIONAL N.V.
ASSA B ASSA ABLOY AB CLASS B
INGA ING GROEP NV
AD KONINKLIJKE AHOLD DELHAIZE N.V.
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
EPI A EPIROC AB
- Chaima Ferrandon
- Sven Edelfelt
AI AIR LIQUIDE SA
IPN IPSEN SA
DB1 DEUTSCHE BOERSE AG
KNEBV KONE OYJ CLASS B
RNO RENAULT SA
KPN ROYAL KPN NV
COV COVIVIO SA
ROG ROCHE HOLDING LTD
ORA ORANGE SA
SSAB A SSAB AB CLASS A
FGR EIFFAGE SA
KER KERING SA
RAND RANDSTAD NV
ENI ENI S.P.A.
ASM ASM INTERNATIONAL N.V.
ASSA B ASSA ABLOY AB CLASS B
INGA ING GROEP NV
AD KONINKLIJKE AHOLD DELHAIZE N.V.
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
EPI A EPIROC AB
- Fabian Semon
- Michael B. Schäfer
Air Liquide : Q1 2024 group comparable sales growth in line with conse...
>Q1 2024 likely to be the weakest quarter, no uptick in European LI activities yet, pricing in IM decreased to 3.7% (as expected & fuelled by energy price indexation) - Air Liquide reported Q1 2024 group comparable sales growth of 2.1% y-o-y (G&S: +2.0% vs. css: +2.4%), hence perfectly matching consensus estimate of 2.1% (FX: -3.9%, Energy: -5.5%). Europe and Asia have been the weakest regions with -1.6% and -0.9% comparable sales growth in Q1 2024, respectively. Ind...
- Alfonso Mariategui
- Research Department
INFORME DIARIO 24 ABRIL + RDOS. ESPAÑA Y EUROPA 1T’24. IDEAS DESTACADA...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: GLOBAL DOMINION, NATURGY, TALGO. EUROPA: AIR LIQUIDE, KERING. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 1T’24 que se publicarán en España y Europa en los próximos días. Las bolsas europeas celebraron la moderación de las tensiones en Oriente Medio y el arranque de la temporada de resultados del 1T’24....
Air Liquide poursuit sa trajectoire en réalisant à nouveau un trimestr...
PARIS--(BUSINESS WIRE)-- Regulatory News: Air Liquide (Paris:AI): Chiffres clés (en millions d'euros) T1 2024 2024/2023 publié 2024/2023 comparable(a) Chiffre d’affaires Groupe 6 650 - 7,3 % + 2,1 % dont Gaz & Services 6 358 - 7,8 % + 2,0 % dont Ingénierie & Construction 92 + 5,2 % + 6,5 % dont Marchés Globaux & Technologies 200 + 3,7 % + 4,7 % (a) Variation hors effets de change, d’énergie (gaz naturel et électricité) et de périmètre significatif, voir ré...
- Luis de Toledo Heras
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/23/2024
In the run-up to the 2024 Summer Olympic Games and Euro 2024 football tournament, we have identified six stocks to favour: JCDecaux, Accor, Sodexo, adidas, Unibail-Rodamco-Westfield and easyJet. While these two major sporting events are not expected to have a significant impact on the host economies in the medium term, the microeconomic and sectoral impacts should be more marked. The tourism, transport, beverages and consumer goods sectors are expected to be the main winners. Some med...
- Luis de Toledo Heras
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 23/04/2024
En amont des Jeux Olympiques d’été et de l’Euro de football 2024, nous identifions 6 valeurs à privilégier : JCDecaux, Accor, Sodexo, adidas, Unibail-Rodamco-Westfield et easyJet. Alors que ces deux évènements sportifs majeurs ne devraient pas avoir d’impact significatif sur les économies hôtes à moyen terme, les impacts microéconomiques et sectoriels devraient être plus marqués. Les secteurs du tourisme, des transports, des boissons et des biens de consommation devraient être les pr...
- Jan Frederik Slijkerman
- Jeroen van den Broek
- Jesse Norcross
- Nadège Tillier
- Timothy Rahill
- Alfonso Mariategui
SAP: RDOS. 1T’24 (ANÁLISIS BANCO SABADELL)
Rdos. 1T'24 vs 1T'23: Ventas: 8.041 M euros (+8,1% vs +8,1% BS(e) y +7,9% consenso); EBIT non-IFRS: 1.533 M euros (+16,0% vs +22,3% BS(e) y +18,3% consenso). Rdos. 1T’24 en línea en ventas (+8,1% vs +8,1% BS(e) y +7,9% consenso) donde destacamos el comportamiento de Cloud (44% ventas), que presenta un crecimiento elevado aunque esperado (+24% vs 1T’23, en línea con nuestras estimaciones y las del consenso).
- Nicolas David
SAP : A good start to the year, but not enough (and too early) to rais...
>Solid Cloud & Software revenue, driven by on-premises resilience. Strong CCB - SAP released its Q1 2024 earnings yesterday after market. Sales were just in line, at € 8.04bn (css: € 8.02bn) but Cloud & Software revenue growth on cc came in at 11%, above expectations (css: 9% cc), thanks, again, to impressive resilience from the Support revenues (-1% cc vs css: -2.8% cc), while Cloud revenue growth was just in line with expectations (25% cc). The current Cloud backlo...
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