reports
GE Aerospace: 1 director
A director at GE Aerospace sold/sold after exercising options 15,550 shares at 178.292USD and the significance rating of the trade was 75/100. 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 ove...
- Delphine Brault
- Quentin Borie
Siemens AG : Un T4 légèrement meilleur qu’attendu, la guidance 2025, e...
>T4 2023/24 : commandes +10%, industrial profit 4% au-dessus des attentes - Les commandes T4 2023/24 progressent de 10% en comparable (consensus à 1.2%), à 22.9 Md€. Le book-to-bill atteint 1.1. Le chiffre d'affaires progresse de 2% en comparable à 20.8 Md€ (consensus à 1.4%) et l’EBITA industrial ajusté atteint 3 120 M€, soit une marge de 15.5% (vs 14.9% attendus par le consensus). L’industrial profit s’établit ainsi 4% au-dessus des attentes du consensus. Le BPA pre...
- Delphine Brault
- Quentin Borie
Siemens AG : Q4 slightly better than expected, 2025 guidance in line a...
>Q4 2023-24: orders +10%, industrial profit 4% above forecasts - Q4 2023-24 orders are up 10% l-f-l (consensus at 1.2%) at € 22.9bn. The book-to-bill was 1.1. Sales were up 2% l-f-l to € 20.8bn (consensus at 1.4%) and industrial EBITA was € 3,120m, i.e. a margin of 15.5% (vs 14.9% anticipated by the consensus). Industrial profit was thus 4% above consensus expectations. Pre-PPA EPS was € 2.57 (consensus at € 2.49).By division, DI (digital industries) saw its orde...
- Ahmed Ben Salem
- Bruno Cavalier
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
VOLV B VOLVO AB CLASS B
MRK MERCK KGAA
EOAN E.ON SE
ALO ALSTOM SA
ENI ENI S.P.A.
REP REPSOL SA
ANA ACCIONA SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
SIE SIEMENS AG
ASML ASML HOLDING NV
BP. BP P.L.C.
REY REPLY S.P.A.
LAND LAND SECURITIES GROUP PLC
BNTX BIONTECH SE
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
SHEL SHELL PLC
AGN AEGON N.V.
- Ahmed Ben Salem
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/15/2024
Swiss-based Accelleron was formed from the spin-off of ABB’s highly profitable turbocharger division in 2022. We view the share as a promising investment on 1/ market leadership in an attractive niche, 2/ about ~40% ROCE, 3/ conversion of ~80% of EBITDA into cash, leading to fast deleveraging, and a solid base for shareholder remuneration (75% pay out), and 4/ strong long-term visibility linked to a ~75% service share, the bulk of which is recurring. Despite an already strong stock pe...
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
VOLV B VOLVO AB CLASS B
MRK MERCK KGAA
EOAN E.ON SE
ALO ALSTOM SA
ENI ENI S.P.A.
REP REPSOL SA
ANA ACCIONA SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
SIE SIEMENS AG
ASML ASML HOLDING NV
BP. BP P.L.C.
REY REPLY S.P.A.
LAND LAND SECURITIES GROUP PLC
BNTX BIONTECH SE
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
SHEL SHELL PLC
AGN AEGON N.V.
- Delphine Brault
- Quentin Borie
Siemens AG : Approaching normalisation for DI and momentum is continui...
>Q4 2023-24 is reassuring on orders and FCF, EBITA is 4% > css - Order intake in Q4 2024 was € 21.9bn, +10% l-f-l (consensus at 1.2%). Digital Industries (DI) delivered a positive surprise, with orders down 6% (vs -12% for the consensus). The book-to-bill stood at 1.1x. Sales were up 2% l-f-l to € 21.8bn (consensus at 1.4%) and industrial profit was € 3,120m (3.9% > the consensus), i.e. a margin of 15.5% (vs 14.9% for the consensus). EPS before PPA was € 2.57 and...
- Delphine Brault
- Quentin Borie
Siemens AG : La normalisation approche pour DI et la dynamique se pour...
>Le T4 2023/24 rassure sur les commandes et le FCF, l’EBITA est 4% > au css - Les commandes au T4 2024 ont atteint 22.9 Md€, +10% en comparable (consensus à 1.2%). Digital Industries (DI) a surpris positivement, avec des commandes en recul de 6% (vs css -12%). Le book-to-bill atteint 1.1x. Le CA progresse de 2% en comparable à 20.8 Md€ (css à 1.4%) et l’industrial profit atteint 3 120 M€ (3.9% > au css), soit une marge de 15.5% (vs 14.9% pour le consensus). Le BP...
- Alfonso Mariategui
- Chaima Ferrandon
- Sven Edelfelt
FGR EIFFAGE SA
ALV ALLIANZ SE
TEP TELEPERFORMANCE SE
MRK MERCK KGAA
EOAN E.ON SE
ALO ALSTOM SA
RWE RWE AG
SAN SANOFI
NEX NEXANS SA
DTE DEUTSCHE TELEKOM AG
TIT TELECOM ITALIA S.P.A.
HLAG HAPAG-LLOYD AG
SIE SIEMENS AG
ASML ASML HOLDING NV
ALG ALLEGRO.EU SA
ENR SIEMENS ENERGY AG
DSY DASSAULT SYSTEMES SA
CVC CVC CAPITAL PARTNERS PLC
- Chaima Ferrandon
- Sven Edelfelt
FGR EIFFAGE SA
ALV ALLIANZ SE
TEP TELEPERFORMANCE SE
MRK MERCK KGAA
EOAN E.ON SE
ALO ALSTOM SA
RWE RWE AG
SAN SANOFI
NEX NEXANS SA
DTE DEUTSCHE TELEKOM AG
TIT TELECOM ITALIA S.P.A.
HLAG HAPAG-LLOYD AG
SIE SIEMENS AG
ASML ASML HOLDING NV
ALG ALLEGRO.EU SA
ENR SIEMENS ENERGY AG
DSY DASSAULT SYSTEMES SA
CVC CVC CAPITAL PARTNERS PLC
- Alfonso Mariategui
SIEMENS: RDOS. 4T’24 (ANÁLISIS BANCO SABADELL)
Rdos. 4T'24 vs 4T'23: Ventas: 20.811 M euros (+0,9% vs +2,7% BS(e) y +0,8% consenso); EBITA industrial ajustado: 3.122 M euros (-7,2% vs -11,6% BS(e) y -10,7% consenso); BDI: 2.115 M euros (+11,2% vs +2,7% BS(e) y +3,3% consenso); Rdos. 2024 vs 2023: Ventas: 75.930 M euros (+1,4% vs +1,9% BS(e) y +1,3% consenso); EBITA industrial ajustado: 11.390 M euros (+0,7% vs -0,6% BS(e) y -0,4% consenso); BDI: 8.992 M euros (+5,4% vs +3,5% BS(e) y +3,6% consenso).
- Research Department
INFORME DIARIO 14 NOVIEMBRE + RDOS. ESPAÑA 3T’24. IDEAS DESTACADAS Y P...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: FERROVIAL, GRIFOLS, IBERDROLA. EUROPA: ASML, DEUTSCHE TELEKOM, PROSUS, SIEMENS. 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. 3T’24 que se publicarán en España y Europa en los próximos días. La inflación estadounidense sigue el camino esperado Las bolsas europeas terminaron con caídas, aunque el dato de i...
- Research Department
INFORME DIARIO 06 NOVIEMBRE + RDOS. ESPAÑA Y EUROPA 3T’24. IDEAS DESTA...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA ENERGÍA, SANTANDER. EUROPA: AHOLD DELHAIZE, BMW, SIEMENS, UNICREDIT. 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. 3T’24 que se publicarán en España y Europa en los próximos días. Trump gana las elecciones A la espera de conocer el desenlace oficial, todo parece indicar que Trump habría ganado las...
- Bruno Cavalier
- Emira Sagaama
- Louis Boujard
- CFA
- Philippe Ourpatian
DHL DHL GROUP
AXA AXA
AKRBP AKER BP ASA
LUFTHANSA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
FP TOTAL SE
UBI UBISOFT ENTERTAINMENT SA
JMT JERONIMO MARTINS SGPS S.A.
SU SCHNEIDER ELECTRIC SE
AMUN AMUNDI SA
ELE ENDESA S.A.
GEBN GEBERIT AG
ORSTED ORSTED
NXT NEXT PLC
AIR AIRBUS SE
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
AMP AMPLIFON S.P.A.
01913 PRADA S.P.A.
REP REPSOL SA
GAS NATURGY ENERGY GROUP S.A.
ARCAD ARCADIS NV
KGX KION GROUP AG
MAP MAPFRE SA
SKF B SKF AB CLASS B
PRY PRYSMIAN S.P.A.
WLN WORLDLINE SA
INGA ING GROEP NV
ABI ANHEUSER-BUSCH INBEV SA/NV
SIE SIEMENS AG
ARGX ARGEN-X SE
STM STMICROELECTRONICS NV
KBX KNORR-BREMSE AG
STLA STELLANTIS N.V.
SHEL SHELL PLC
DSFIR KONINKLIJKE DSM N.V.
- Bruno Cavalier
- Emira Sagaama
- Louis Boujard
- CFA
- Philippe Ourpatian
DHL DHL GROUP
AXA AXA
AKRBP AKER BP ASA
LUFTHANSA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
FP TOTAL SE
UBI UBISOFT ENTERTAINMENT SA
JMT JERONIMO MARTINS SGPS S.A.
SU SCHNEIDER ELECTRIC SE
AMUN AMUNDI SA
ELE ENDESA S.A.
GEBN GEBERIT AG
ORSTED ORSTED
NXT NEXT PLC
AIR AIRBUS SE
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
AMP AMPLIFON S.P.A.
01913 PRADA S.P.A.
REP REPSOL SA
GAS NATURGY ENERGY GROUP S.A.
ARCAD ARCADIS NV
FDR FLUIDRA S.A.
KGX KION GROUP AG
MAP MAPFRE SA
SKF B SKF AB CLASS B
PRY PRYSMIAN S.P.A.
WLN WORLDLINE SA
INGA ING GROEP NV
ABI ANHEUSER-BUSCH INBEV SA/NV
SIE SIEMENS AG
ARGX ARGEN-X SE
STM STMICROELECTRONICS NV
KBX KNORR-BREMSE AG
STLA STELLANTIS N.V.
SHEL SHELL PLC
DSFIR KONINKLIJKE DSM N.V.
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