reports
- Carole Braudeau
Credit Morning 11/20/2024
Grifols: the board considers that Brookfield’s indicative price undervalues the company Teva: S&P upgrades the rating to BB/positive from BB/positiveElior: Results recovered in 2023-24, exceeding expectations. Debt reduction is making headway as planned.Tereos: Sharp decline in EBITDA in Q2 24/25. The financial position is stable thanks to the generation of FCF.>...
- Damien Choplain
- Martial Descoutures
- Carole Braudeau
Morning Crédit 20/11/2024
Grifols : le conseil d’administration estime que le prix indicatif proposé par Brookfield sous-évalue la sociétéTeva: S&P upgrades the rating to BB/positive from BB/positiveElior: les résultats se sont redressés 2023/24, dépassant les attentes. Le désendettement progresse comme prévu.Tereos : fort repli de l'EBITDA au T2 24/25. La situation financière est stable grâce à la génération de FCF.>...
- Damien Choplain
- Martial Descoutures
RHM RHEINMETALL AG
BLND BRITISH LAND COMPANY PLC
GRF GRIFOLS S.A. CLASS A
ELE ENDESA S.A.
ISP INTESA SANPAOLO S.P.A.
TLX TALANX AG
UCG UNICREDIT S.P.A.
CABK CAIXABANK SA
GRF.P GRIFOLS S.A. PREF CLASS B
ARGX ARGEN-X SE
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
SGSN SGS SA
- Juan Ros-Padilla
Grifols A : Brookfield confirms a non-binding indication of € 10.50. G...
>Brookfield confirms that it has issued a non-binding indication of € 10.5 - Brookfield unveiled, via a regulatory filing, that it recently requested more information from Grifols’ Transaction Committee with which to finalise its due diligence and issued a non-binding price indication of € 10.50 per class A share and € 7.62 per class B share. Brookfield added that it continues to engage constructively with Grifols yet, for the time being, no agreement or decision has...
- Luis Arredondo
- Carole Braudeau
- Carole Braudeau
- Carole Braudeau
- Carole Braudeau
- Stephane Beyazian
Vodafone : Better FCF in H1 2025 but record low in Germany
>H1 2025 EBITDA in line with expectations - Q2 2025 group sales were up 4.6% y-o-y to € 9,240m, above expectations (consensus € 9,071m, ODDO BHF € 9,226m), and still helped by hyperinflation in Turkey (sales +89% y-o-y). H1 2025 EBITDAaL was up 2.5% y-o-y to € 2,730m. The targets for 2025 were confirmed (as expected): Vodafone is targeting adjusted pro forma EBITDAaL of € 11bn and adjusted FCF of at least € 2.4bn (consensus: € 2.47bn). These pro forma targets are...
- Christophe-Raphaël Ganet
- Marc Lavaud
- Martin Marandon-Carlhian
- Stephane Houri
- Stephane Beyazian
Vodafone : Better FCF in H1 2025 but record low in Germany
>H1 2025 EBITDA in line with expectations - Q2 2025 group sales were up 4.6% y-o-y to € 9,240m, above expectations (consensus € 9,071m, ODDO BHF € 9,226m), and still helped by hyperinflation in Turkey (sales +89% y-o-y). H1 2025 EBITDAaL was up 2.5% y-o-y to € 2,730m. The targets for 2025 were confirmed (as expected): Vodafone is targeting adjusted pro forma EBITDAaL of € 11bn and adjusted FCF of at least € 2.4bn (consensus: € 2.47bn). These pro forma targets are...
- Carole Braudeau
- Carole Braudeau
- Chris Hoare
Vodacom (Buy, TP: ZAR150, +50%) Q2 25: Soft vs. expectations
Vodacom has reported a soft set of Q2 results relative to expectations. However, trends remained solid, especially top line which continued to grow close to double digit growth. This is encouraging and we continue to think that the tide is turning in SA (please see HERE for more details), but it seems the turn will take longer than we hoped.
Informations sur les droits de vote et les actions au 31 octobre 2024
Informations sur les droits de vote et les actions au 31 octobre 2024 Le 8 novembre 2024 Information mensuelle relative au nombre total de droits de vote et d’actions composant le capital social Article 223-16 du Règlement Général de l’Autorité des Marchés Financiers Place de cotation : Euronext ParisCompartiment : Compartiment ACode ISIN : FR0000054470Site web : Date Nombre total d’actions composant le capital social Nombre total de droits de vote Total brut (1) Total net (2) 31/10/2024 130 714 789 143 008 225 143 008 22...
- Julian Dobrovolschi
ENX EURONEXT NV
VIE VEOLIA ENVIRONNEMENT SA
ENGI ENGIE SA.
EDP EDP-ENERGIAS DE PORTUGAL SA
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
HOT HOCHTIEF AG
GRF GRIFOLS S.A. CLASS A
HEI HEIDELBERGCEMENT AG
VER VERBUND AG CLASS A
HEN3 HENKEL AG & CO. KGAA PREF
CRG CRH PLC
NEM NEMETSCHEK SE
AMS AMADEUS IT GROUP SA CLASS A
UCG UNICREDIT S.P.A.
LEG LEG IMMOBILIEN AG
INX IMCD N.V.
AUTO AUTO TRADER GROUP PLC
GRF.P GRIFOLS S.A. PREF CLASS B
LDO LEONARDO SPA
AD KONINKLIJKE AHOLD DELHAIZE N.V.
PIRC PIRELLI & C. S.P.A.
RMV RIGHTMOVE PLC
NEXI NEXI S.P.A.
INPST INPOST S.A.
DTG DAIMLER TRUCK
TEN TENARIS S.A.
- Carole Braudeau
- Julian Dobrovolschi
ENX EURONEXT NV
VIE VEOLIA ENVIRONNEMENT SA
ENGI ENGIE SA.
EDP EDP-ENERGIAS DE PORTUGAL SA
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
HOT HOCHTIEF AG
GRF GRIFOLS S.A. CLASS A
HEI HEIDELBERGCEMENT AG
VER VERBUND AG CLASS A
HEN3 HENKEL AG & CO. KGAA PREF
CRG CRH PLC
NEM NEMETSCHEK SE
AMS AMADEUS IT GROUP SA CLASS A
UCG UNICREDIT S.P.A.
LEG LEG IMMOBILIEN AG
INX IMCD N.V.
AUTO AUTO TRADER GROUP PLC
GRF.P GRIFOLS S.A. PREF CLASS B
LDO LEONARDO SPA
AD KONINKLIJKE AHOLD DELHAIZE N.V.
PIRC PIRELLI & C. S.P.A.
RMV RIGHTMOVE PLC
NEXI NEXI S.P.A.
INPST INPOST S.A.
DTG DAIMLER TRUCK
TEN TENARIS S.A.
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