reports
PG&E Corp: 1 director
A director at PG&E Corp sold 59,000 shares at 17.080USD and the significance rating of the trade was 68/100. 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 showi...
Elecnor S.A.: 1 director
A director at Elecnor S.A. bought 26,607 shares at 19.352EUR and the significance rating of the trade was 100/100. 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...
Endesa Sa: 1 director
A director at Endesa Sa sold 1,446 shares at 17.140EUR and the significance rating of the trade was 52/100. 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 showin...
- Nicolas David
BVI BUREAU VERITAS SA
SOP SOPRA STERIA GROUP SA
ATO ATOS SE
INF INFOTEL SA
ASY ASSYSTEM SA
SQI SQLI SA
SWP SWORD GROUP SE
ATE ALTEN SA
GRF GRIFOLS S.A. CLASS A
AIR AIRBUS SE
CAP CAPGEMINI SE
ENEL ENEL SPA
VRNL VERNEUIL PARTICIPATIONS
ORDI ORDINA N.V.
CTAC CTAC N.V.
TIETO TIETOEVRY OYJ
NEM NEMETSCHEK SE
COK CANCOM SE
BC8 BECHTLE AG
IBE IBERDROLA SA
SAN BANCO SANTANDER S.A.
IDR INDRA SISTEMAS S.A. CLASS A
GRF.P GRIFOLS S.A. PREF CLASS B
ECONT ECONOCOM GROUP SE CLASS D
REY REPLY S.P.A.
CCEP COCA-COLA EUROPEAN PARTNERS PLC
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
FQT FREQUENTIS AG WIENER
NA9 NAGARRO
EXN EXCLUSIVE NETWORKS SA
OVH OVH GROUPE
IOS IONOS GROUP SE
AGN AEGON N.V.
- Nicolas David
BVI BUREAU VERITAS SA
SOP SOPRA STERIA GROUP SA
ATO ATOS SE
INF INFOTEL SA
ASY ASSYSTEM SA
SQI SQLI SA
SWP SWORD GROUP SE
ATE ALTEN SA
GRF GRIFOLS S.A. CLASS A
AIR AIRBUS SE
CAP CAPGEMINI SE
ENEL ENEL SPA
VRNL VERNEUIL PARTICIPATIONS
ORDI ORDINA N.V.
CTAC CTAC N.V.
TIETO TIETOEVRY OYJ
NEM NEMETSCHEK SE
COK CANCOM SE
BC8 BECHTLE AG
IBE IBERDROLA SA
SAN BANCO SANTANDER S.A.
IDR INDRA SISTEMAS S.A. CLASS A
GRF.P GRIFOLS S.A. PREF CLASS B
ECONT ECONOCOM GROUP SE CLASS D
REY REPLY S.P.A.
CCEP COCA-COLA EUROPEAN PARTNERS PLC
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
FQT FREQUENTIS AG WIENER
NA9 NAGARRO
EXN EXCLUSIVE NETWORKS SA
OVH OVH GROUPE
IOS IONOS GROUP SE
AGN AEGON N.V.
- Louis Boujard
- CFA
- Philippe Ourpatian
Enel : The 2023 publication is in line and the 2026 trajectory confirm...
>Outperform rating maintained and target price adjusted to € 9.20 vs € 9.60 - The group reported 2023 performances in line with the consensus’ forecasts. The turnaround in the trajectory vs 2022 has materialised, with as expected a significant contribution to growth from EBITDA thanks to the generation and commercialisation benefited respectively from a far more favourable hydroelectric environment in Italy and Iberia and growth in unitary margins. Management confirm...
- Louis Boujard
- CFA
- Philippe Ourpatian
Enel : Une publication 2023 en ligne et une trajectoire 2026 confirmée
>Opinion Surperformance réitérée et OC ajusté à 9.20 € vs 9.60 € - Le groupe a publié des performances 2023 en ligne avec les attentes du consensus. Le retournement de trajectoire par rapport à 2022 est réalisé, avec comme attendu une contribution significative à la croissance de l’EBITDA en provenance des activités de génération et de commercialisation qui ont bénéficié respectivement d’un environnement hydroélectrique nettement plus favorable en Italie et en Ibérie...
- Chaima Ferrandon
- Charlotte Vaisse
- Jean-Baptiste Rouphael
- Michael Foundoukidis
- Sven Edelfelt
LHN LAFARGEHOLCIM LTD.
BMW BAYERISCHE MOTOREN WERKE AG
1COV COVESTRO AG
GET GETLINK SE
VIE VEOLIA ENVIRONNEMENT SA
DGE DIAGEO PLC
RNO RENAULT SA
MTX MTU AERO ENGINES AG
FGR EIFFAGE SA
DAI DAIMLER AG
ADEN ADECCO GROUP AG
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
ELE ENDESA S.A.
GN GN STORE NORD A/S
VOW3 VOLKSWAGEN AG PREF
EDW EDP RENOVAVEIS SA
AMS AMADEUS IT GROUP SA CLASS A
KGX KION GROUP AG
ASRNL ASR NEDERLAND NV
MONC MONCLER SPA
PRY PRYSMIAN S.P.A.
WLN WORLDLINE SA
NN NN GROUP N.V.
MERLIN MERLIN PROPERTIES SOCIMI S.A.
ABI ANHEUSER-BUSCH INBEV SA/NV
ARGX ARGEN-X SE
STLA STELLANTIS N.V.
UMG UNIVERSAL MUSIC GROUP NV
SHUR SHURGARD SELF STORAGE LIMITED
UN0 UNIPER SE
- Chaima Ferrandon
- Charlotte Vaisse
- Jean-Baptiste Rouphael
- Michael Foundoukidis
- Sven Edelfelt
LHN LAFARGEHOLCIM LTD.
BMW BAYERISCHE MOTOREN WERKE AG
1COV COVESTRO AG
GET GETLINK SE
VIE VEOLIA ENVIRONNEMENT SA
DGE DIAGEO PLC
RNO RENAULT SA
MTX MTU AERO ENGINES AG
FGR EIFFAGE SA
DAI DAIMLER AG
ADEN ADECCO GROUP AG
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
ELE ENDESA S.A.
GN GN STORE NORD A/S
VOW3 VOLKSWAGEN AG PREF
EDW EDP RENOVAVEIS SA
AMS AMADEUS IT GROUP SA CLASS A
KGX KION GROUP AG
ASRNL ASR NEDERLAND NV
MONC MONCLER SPA
PRY PRYSMIAN S.P.A.
WLN WORLDLINE SA
NN NN GROUP N.V.
MERLIN MERLIN PROPERTIES SOCIMI S.A.
ABI ANHEUSER-BUSCH INBEV SA/NV
ARGX ARGEN-X SE
STLA STELLANTIS N.V.
UMG UNIVERSAL MUSIC GROUP NV
SHUR SHURGARD SELF STORAGE LIMITED
UN0 UNIPER SE
- Louis Boujard
- CFA
- Philippe Ourpatian
Endesa : Mixed bag in 2023, 2024 guidance confirmed, 2026 to watch out...
>Outperform rating and € 25.3 target price maintained - Endesa’s reported 2023 results fell short of our expectations and those of consensus. Adjusted for non-recurrent items, the 2023 performance is more in line with our expectations. The group confirmed the 2024 guidance set out in its latest strategic plan last November. While the market’s concerns look reasonable in view of the impact of lower wholesale electricity prices on the 2026 outlook, we would rather have ...
- Louis Boujard
- CFA
- Philippe Ourpatian
Endesa : Un 2023 contrasté, des guidances 2024 confirmées, un 2026 à s...
>Opinion Surperformance réitérée et OC 25.3 € inchangé - Les résultats 2023 publiés sont ressortis inférieurs à nos attentes et à celle du consensus. Retraité des éléments non récurrents, la performance 2023 ressort plus en ligne avec nos attentes. Le groupe a confirmé sa guidance 2024 telle qu’énoncée lors de son dernier opus stratégique en novembre 2023. Si les inquiétudes du marché sont légitimes au regard de l’impact de la baisse des prix de gros de l’électricité ...
- Virginia Romero
- Virginia Romero
ENDESA: FY2023 RESULTS (ANÁLISIS BANCO SABADELL)
4Q'23 vs. 4Q'22 Results EBITDA: € 424.0 M (-77.5% vs. -69.4% BS(e) and -53.4% consensus); Net Profit: € -331.0 M (€ 964.0 M in FY2022 vs. € -225.0 M BS(e) and € 154.0 M consensus); FY2023 vs. FY2022 Results EBITDA: € 3.777 Bn (-29.1% vs. -26.2% BS(e) and -20.5% consensus); Net Profit: € 742.0 M (-69.1% vs. -64.6% BS(e) and -48.8% consensus);
- Louis Boujard
- CFA
- Philippe Ourpatian
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/28/2024
Double materiality, climate transition plan, the value chain: the CSDR is set to revolutionise ESG reporting as of 2025. It should accelerate the sustainable transformation of the most committed companies and act as a weapon against greenwashing for the most reticent. The audit requirements guarantee a level of quality for data, but it will take several years before investors begin to reap all of the benefits. - ...
RNO RENAULT SA
ZURN ZURICH INSURANCE GROUP LTD
EN BOUYGUES SA
RXL REXEL SA
AGS AGEAS SA/NV
REE RED ELECTRICA CORP. SA
ELE ENDESA S.A.
UCB UCB S.A.
ASM ASM INTERNATIONAL N.V.
GAS NATURGY ENERGY GROUP S.A.
AENA AENA SME SA
WLN WORLDLINE SA
VOD VODAFONE GROUP PLC
CPR DAVIDE CAMPARI-MILANO N.V.
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
FER FERROVIAL SA
- Louis Boujard
- CFA
- Philippe Ourpatian
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 28/02/2024
Double matérialité, transition climat, chaîne de valeur : la CSRD va révolutionner le reporting ESG, dès 2025. Elle devrait accélérer la transformation des entreprises les plus engagées et servir d’arme anti-greenwashing à l’encontre des plus réticentes. Les exigences d’audit garantissent une certaine qualité des données, mais il faudra patienter quelques années pour que les investisseurs en tirent tous les bénéfices. - ...
RNO RENAULT SA
ZURN ZURICH INSURANCE GROUP LTD
EN BOUYGUES SA
RXL REXEL SA
AGS AGEAS SA/NV
REE RED ELECTRICA CORP. SA
ELE ENDESA S.A.
UCB UCB S.A.
ASM ASM INTERNATIONAL N.V.
GAS NATURGY ENERGY GROUP S.A.
EDW EDP RENOVAVEIS SA
AENA AENA SME SA
WLN WORLDLINE SA
VOD VODAFONE GROUP PLC
CPR DAVIDE CAMPARI-MILANO N.V.
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
FER FERROVIAL SA
UN0 UNIPER SE
- Louis Boujard
- CFA
- Philippe Ourpatian
Endesa : 2023 lower than expectations, but guidance 2024 unchanged
>2023 results lower than consensus - The company just released its 2023 figures which are lower than our expectations and the consensus affected by several one-offs. On a recurring base (EBITDA € 4.39bn), figures are almost in line with our forecasts, and operational performance was mainly driven by continuous recovery of the integrated business (generation and supply), even if gas margins are still affected by negative hedging and back to normal regulatory environmen...
- Louis Boujard
- CFA
- Philippe Ourpatian
Endesa : 2023 lower than expectations, but guidance 2024 unchanged
>2023 results lower than consensus - The company just released its 2023 figures which are lower than our expectations and the consensus affected by several one-offs. On a recurring base (EBITDA € 4.39bn), figures are almost in line with our forecasts, and operational performance was mainly driven by continuous recovery of the integrated business (generation and supply), even if gas margins are still affected by negative hedging and back to normal regulatory environmen...
- Virginia Romero
ENDESA: RDOS. 2023 (ANÁLISIS BANCO SABADELL)
Rdos. 4T'23 vs 4T'22: EBITDA: 424,0 M euros (-77,5% vs -69,4% BS(e) y -53,4% consenso); BDI: -331,0 M euros (890 M euros en 2022 vs -225,0 M euros BS(e) y 154,0 M euros consenso); Rdos. 2023 vs 2022: EBITDA: 3.777 M euros (-32% vs -26,2% BS(e) y -20,5% consenso); BDI: 742,0 M euros (-71% vs -64,6% BS(e) y -48,8% consenso);
- Research Department
INFORME DIARIO 28 FEBRERO + RDOS. ESPAÑA Y EUROPA 4T’23. IDEAS DESTACA...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA ENERGÍA, AENA, AMADEUS, CAF, ENDESA, FERROVIAL, GLOBAL DOMINION, METROVACESA. EUROPA: LINDE. 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 con los previews de Rdos. 4T’23 que se publicarán en España y Europa en los próximos días. El Ibex se descuelga Los índices europeos retomaron las subidas a excepción del Ibex, ...
- Research Department
IBERIAN DAILY 28 FEBRUARY + 4Q’23 RESULTS. HIGHLIGHTS AND REST OF PREV...
NEWS SUMMARY: ACCIONA ENERGÍA, AENA, AMADEUS, CAF, ENDESA, FERROVIAL, GLOBAL DOMINION, METROVACESA. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 4Q’23 results to be released over the coming days in Spain. IBEX falls back European indices were back on the upward track except the IBEX which, penalised by the results campaign, was on the verge of falling below 10,100 points. In...
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