reports
- ABGSC Renewable Energy Research
- Adrian Gilani
- Åsne Holsen
- Daniel Vårdal Haugland
- Haakon Amundsen
- John Olaisen
- Olof Cederholm
- Stian Wibstad
ORSTED ORSTED
HEX HEXAGON COMPOSITES ASA
NEL NEL ASA
SSO SCATEC ASA
EOLU B EOLUS VIND AB
FKRFT FJORDKRAFT HOLDING ASA
CADLR CADELER
VOLUE VOLUE AS
A2QKGG HEXAGON PURUS
ZAP ZAPTEC
VWS VESTAS WIND SYSTEMS
EWIND EDDA WIND ASA
TOM TOMRA SYSTEMS ASA
IWS-NO INTEGRATED WIND SOLUTIONS
OX2-SE OX2
- Jerôme Bodin
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 05/15/2024 Date Performance sin...
With 71% of the companies in the Stoxx 600 having released their Q1 2024 results, the picture at this stage is encouraging, with 58% of positive surprises on results. Materials and financials were the sectors that delivered the most positive surprises. If the Q4 2023 earnings season put an end to a downward revision of EPS, the Q1 2024 earnings season has triggered the start of an upward EPS revision, more markedly in the US than in Europe. In terms of sectors, re-rating effects conti...
ETL EUTELSAT COMMUNICATIONS SA
PBB DEUTSCHE PFANDBRIEFBANK AG
TNG TRANSGENE SA
F3C SFC ENERGY AG
FGA FIGEAC AERO SA
PSM PROSIEBENSAT.1 MEDIA SE
TPE PVA TEPLA AG
TRI TRIGANO SA
MBB MBB INDUSTRIES SE
DEQ DEUTSCHE EUROSHOP AG
PAT PATRIZIA AG
WLN WORLDLINE SA
DKG DEUTSCHE KONSUM REIT-AG
NHH NH HOTEL GROUP SA
CGG CGG
BSGR B&S GROUP S.A.
MEDCL MEDINCELL SA
NEXI NEXI S.P.A.
INPST INPOST S.A.
NA9 NAGARRO
HGEA HGEARS AG
TUI TUI AG
SCHOTT PHARMA AG
R3NK RENK GROUP AG
ORP ORPEA
- Jerôme Bodin
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 15/05/2024 Date Performance dep...
Alors que 71% des sociétés du Stoxx 600 ont publié, le bilan est à ce stade positif avec 58% de surprises positives sur les résultats. Matériaux et Financières sont les secteurs ayant apporté le plus de surprises positives. Le consensus – qui avait stoppé sa baisse durant les publications T4-23, est désormais reparti à la hausse, plus nettement aux Etats-Unis qu’en Europe. Sectoriellement, les effets de rerating ont continué de dominer les révisions de BPA. - ...
ETL EUTELSAT COMMUNICATIONS SA
PBB DEUTSCHE PFANDBRIEFBANK AG
TNG TRANSGENE SA
F3C SFC ENERGY AG
FGA FIGEAC AERO SA
PSM PROSIEBENSAT.1 MEDIA SE
TPE PVA TEPLA AG
TRI TRIGANO SA
MBB MBB INDUSTRIES SE
DEQ DEUTSCHE EUROSHOP AG
PAT PATRIZIA AG
WLN WORLDLINE SA
DKG DEUTSCHE KONSUM REIT-AG
NHH NH HOTEL GROUP SA
CGG CGG
BSGR B&S GROUP S.A.
MEDCL MEDINCELL SA
NEXI NEXI S.P.A.
INPST INPOST S.A.
NA9 NAGARRO
HGEA HGEARS AG
TUI TUI AG
SCHOTT PHARMA AG
R3NK RENK GROUP AG
ORP ORPEA
- Anis Zgaya
- Louis Boujard
- CFA
NORDEX SE : A slightly more confident tone than in past analysts’ meet...
>Q1 ahead of expectations and 2024 and medium-term guidance confirmed - Nordex’s Q1 results, reported yesterday, largely beat expectations (see page 2 for more details) with EBITDA of € 52m vs € 16m expected and an EBITDA margin in Q1 of 3.3% vs 1.1% expected. This better-than-expected start to the year in terms of profitability can be attributed to costs (logistics and materials) being slightly lower than forecast and to a random spread of low margin legacy projects...
- Anis Zgaya
- Louis Boujard
- CFA
NORDEX SE : Ton un peu plus confiant que lors des précédentes réunions...
>T1 supérieur aux attentes et objectifs 2024 et moyen terme confirmés - Nordex a publié hier ses résultats T1 qui sont ressortis nettement meilleurs qu’attendu (voir page 2 pour plus de détails) avec un EBITDA à 52 M€ vs 16 M€ attendus et une marge d’EBITDA au T1 à 3.3% vs 1.1% attendu. Ce meilleur début d’année en termes de profitabilité est expliqué par des couts (logistiques et matière) un peu inférieurs à ce qui était prévu et par une répartition aléatoire des an...
- Anis Zgaya
- Louis Boujard
- CFA
NORDEX SE : Reassuring Q1 and margin recovery expected to continue
>Q1 results beat expectations - This morning Nordex published its results for Q1 2023 which came in well above expectations. The group reported sales of € 1.6bn (previous year at € 1.2bn), up 29%, above our and consensus estimates at € 1.4bn, thanks to a good level of installations (1.1 GW in Q1 2024 vs 1.3 GW in Q1 2023) but visibly higher realized average price over the quarter. EBITDA was € 52m (previous year at -€ 115m) significantly above our and consensus ...
- Anis Zgaya
- Louis Boujard
- CFA
NORDEX SE : Reassuring Q1 and margin recovery expected to continue
>Q1 results beat expectations - This morning Nordex published its results for Q1 2023 which came in well above expectations. The group reported sales of € 1.6bn (previous year at € 1.2bn), up 29%, above our and consensus estimates at € 1.4bn, thanks to a good level of installations (1.1 GW in Q1 2024 vs 1.3 GW in Q1 2023) but visibly higher realized average price over the quarter. EBITDA was € 52m (previous year at -€ 115m) significantly above our and consensus ...
- Nicolas David
BEKB BEKAERT SA
IPH INNATE PHARMA SA CLASS A
HOT HOCHTIEF AG
CFEB COMPAGNIE D'ENTREPRISES CFE SA
INH INDUS HOLDING AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
TEG TAG IMMOBILIEN AG
COK CANCOM SE
AALB AALBERTS N.V.
COL INMOBILIARIA COLONIAL SOCIMI SA
MEL MELIA HOTELS INTERNATIONAL S.A.
ALM ALMIRALL SA
DUE DURR AG
BSGR B&S GROUP S.A.
S30 SOLUTIONS 30 SE
NA9 NAGARRO
HGEA HGEARS AG
FORSE FORSEE POWER SA
DEME DEME GROUP NV
- Nicolas David
BEKB BEKAERT SA
IPH INNATE PHARMA SA CLASS A
HOT HOCHTIEF AG
CFEB COMPAGNIE D'ENTREPRISES CFE SA
INH INDUS HOLDING AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
TEG TAG IMMOBILIEN AG
COK CANCOM SE
AALB AALBERTS N.V.
COL INMOBILIARIA COLONIAL SOCIMI SA
MEL MELIA HOTELS INTERNATIONAL S.A.
ALM ALMIRALL SA
DUE DURR AG
BSGR B&S GROUP S.A.
S30 SOLUTIONS 30 SE
NA9 NAGARRO
HGEA HGEARS AG
FORSE FORSEE POWER SA
DEME DEME GROUP NV
EQS-News: Nordex startet mit solidem Umsatzwachstum und einer EBITDA-M...
EQS-News: Nordex SE / Schlagwort(e): Quartalsergebnis Nordex startet mit solidem Umsatzwachstum und einer EBITDA-Marge von 3,3 % ins neue Jahr; Jahresprognose bestätigt 14.05.2024 / 07:00 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Nordex startet mit solidem Umsatzwachstum und einer EBITDA-Marge von 3,3 % ins neue Jahr; Jahresprognose bestätigt Starker Auftragseingang von 2,1 GW 29% Umsatzwachstum gegenüber dem Vorjahresquartal EBITDA Anstieg auf EUR 52 Millionen im ersten Quartal Working-Capital-Quote bei minus 7,0 Prozent Ham...
EQS-News: Nordex Group starts the year with solid sales growth and an ...
EQS-News: Nordex SE / Key word(s): Quarter Results Nordex Group starts the year with solid sales growth and an EBITDA margin of 3.3%; Full year guidance confirmed 14.05.2024 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. Nordex Group starts the year with solid sales growth and an EBITDA margin of 3.3%; Full year guidance confirmed Strong order intake of 2.1 GW 29% growth in sales year over year First quarter EBITDA reaches EUR 52 million Working capital ratio at minus 7.0 percent Hamburg, 14 May 2024. The Nordex Group (ISIN: ...
- ABGSC Renewable Energy Research
- Adrian Gilani
- Åsne Holsen
- Daniel Vårdal Haugland
- Haakon Amundsen
- John Olaisen
- Olof Cederholm
- Stian Wibstad
ORSTED ORSTED
HEX HEXAGON COMPOSITES ASA
NEL NEL ASA
SSO SCATEC ASA
EOLU B EOLUS VIND AB
FKRFT FJORDKRAFT HOLDING ASA
CADLR CADELER
VOLUE VOLUE AS
A2QKGG HEXAGON PURUS
ZAP ZAPTEC
VWS VESTAS WIND SYSTEMS
EWIND EDDA WIND ASA
TOM TOMRA SYSTEMS ASA
IWS-NO INTEGRATED WIND SOLUTIONS
OX2-SE OX2
- Jerôme Bodin
LR LEGRAND SA
FRA FRAPORT AG
LI KLEPIERRE SA
ALV ALLIANZ SE
ORSTED ORSTED
RAA RATIONAL AG
INGA ING GROEP NV
SAN BANCO SANTANDER S.A.
IHG INTERCONTINENTAL HOTELS GROUP PLC
MRNA MODERNA INC.
VWS VESTAS WIND SYSTEMS
UMG UNIVERSAL MUSIC GROUP NV
DSY DASSAULT SYSTEMES SA
DTG DAIMLER TRUCK
LIN LINDE PUBLIC LIMITED COMPANY
SHUR SHURGARD SELF STORAGE LIMITED
- Bruno Cavalier
- Jerôme Bodin
LR LEGRAND SA
FRA FRAPORT AG
LI KLEPIERRE SA
ALV ALLIANZ SE
ORSTED ORSTED
RAA RATIONAL AG
INGA ING GROEP NV
SAN BANCO SANTANDER S.A.
IHG INTERCONTINENTAL HOTELS GROUP PLC
MRNA MODERNA INC.
VWS VESTAS WIND SYSTEMS
UMG UNIVERSAL MUSIC GROUP NV
DSY DASSAULT SYSTEMES SA
DTG DAIMLER TRUCK
LIN LINDE PUBLIC LIMITED COMPANY
SHUR SHURGARD SELF STORAGE LIMITED
- Douglas Lindahl
Vestas Wind Systems (Buy, TP: DKK242.00) - Limited changes post result...
With the Q1 results below our estimates and consensus, we have reduced our 2024 adj. EBIT by c5%, but raised 2025–2026e by c1% on average. Overall, Q1 had a minor impact on our view of the investment case, and we reiterate our BUY and DKK242 target price. Vestas remains our top-sector pick on the structurally growing wind-energy space.
- Baptiste Lebacq
Vestas : Still plenty of unanswered questions
>Underperform rating (target price DKK 160) - Based on this release and the conference call, we maintain our expectations for 2024-2026 and our Underperform rating (despite a performance of -16% YTD), with an unchanged target price of DKK 160. While it is true that the situation is normalising, we see several risks, particularly with regard to the medium-term EBIT target (expected at 10%), given: The problems encountered by all players in the industry with new (o...
- Baptiste Lebacq
Vestas : Toujours beaucoup de questions en suspens
>Opinion Sous-performance (OC 160 DKK) - Post publication et conférence call, nous maintenons nos attentes sur 2024/26 et réitérons notre recommandation sous-performance (malgré une performance YtD de -16%) avec un OC inchangé à 160 DKK. Même si la situation est en voie de normalisation, nous identifions plusieurs risques notamment sur l’objectif d’EBIT à MT (attendue à 10%) à savoir : Les problèmes rencontrés par l’ensemble des acteurs de l’industrie sur les nou...
- ABGSC Renewable Energy Research
- Åsne Holsen
- Daniel Vårdal Haugland
- ABGSC Renewable Energy Research
- Åsne Holsen
- Daniel Vårdal Haugland
EQS-News: USA: Nordex Group erhält Auftrag über 148 MW für Turbinen de...
EQS-News: Nordex SE / Schlagwort(e): Auftragseingänge USA: Nordex Group erhält Auftrag über 148 MW für Turbinen des Typs N149/5.X 02.05.2024 / 07:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Hamburg, 2. Mai 2024. Die Nordex Group hat einen Auftrag über 25 Turbinen des Typs N149/5.X der Delta 4000-Serie aus den Vereinigten Staaten erhalten. Die Anlagen werden auf 89 Meter hohen erdbebensicheren Türmen in einem nicht genannten Windpark in Kalifornien installiert. Die Auslieferung ist für Sommer 2025 geplant, die Inbetriebnahme bis...
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