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Société Générale : Descriptif du programme de rachat d’actions sous ré...
Société Générale : Descriptif du programme de rachat d’actions sous réserve de l’autorisation de l'Assemblée générale mixte du 22 mai 2024 DESCRIPTIF DU PROGRAMME DE RACHAT D’ACTIONSSOUS RÉSERVE DE L’AUTORISATION DE L’ASSEMBLÉE GÉNÉRALE MIXTE DU 22 MAI 2024 Information réglementée Paris, le 17 mai 2024 Le présent descriptif est établi conformément aux dispositions de l’article 241-2-I du Règlement général de l’Autorité des marchés financiers. 1. Date de l’Assemblée générale appelée à autoriser le programme de rachat d’actions L’autorisation d’achat par la Société de ses propres actions...
Holding(s) in Company
easyJet plc (EZJ) Holding(s) in Company 17-May-2024 / 15:00 GMT/BST TR-1: Standard form for notification of major holdings 1. Issuer Details ISIN GB00B7KR2P84 Issuer Name EASYJET PLC UK or Non-UK Issuer UK 2. Reason for Notification Other Comments Updated calculation methodology for cash equity positions held in trading books for client facilitation purposes. 3. Details of person subject to the notification obligation Name Bank of America Corporation City of registered office (if applicable) Country of registered o...
- Michael B. Schäfer
ODDO BHF Small & MIDCAP MORNING NEWS - 05/17/2024
Growth momentum remains solid, and the publication of Q1 sales bodes well for the future (12.5% organic growth, including 27% for Aerospace). Margins are set to pick up in 2024 (by an estimated 110bp), with the underlying operating profit expected to jump 33%. With good visibility for Aerospace, medium-term potential for Automotive and profitable growth for Medical, we estimate the potential for margin improvement at no less than 500bp in the medium term. We are raising our underlying...
DBG DERICHEBOURG SA
ALCAR CARMAT SA
TPE PVA TEPLA AG
NEX NEXANS SA
ERG ERG S.P.A.
WIE WIENERBERGER AG
GREEN GREENYARD NV
FCC FOMENTO DE CONSTRUCCIONES Y CONTRATAS S.A.
NVG NAVIGATOR COMPANY SA
COL INMOBILIARIA COLONIAL SOCIMI SA
SIFG SIF HOLDING NV
TMV TEAMVIEWER AG
VK VALLOUREC SA
FPE3 FUCHS PETROLUB SE
- Michael B. Schäfer
ODDO BHF Small & MIDCAP MORNING NEWS - 17/05/2024
La dynamique de croissance reste solide et la publication du CA T1 est de bon augure (croissance organique de 12.5% dont 27% pour l’Aerospace). 2024 devrait voir un redressement des marges (+110 pb estimés) pour un ROC attendu en hausse de 33%. A l’appui d’une bonne visibilité pour l’aéronautique, d’un potentiel MT pour l’automobile et d’une croissance profitable pour le Médical, nous estimons le potentiel d’amélioration des marges à au moins 500 pb à MT. Nous relevons nos estimations...
DBG DERICHEBOURG SA
ALCAR CARMAT SA
TPE PVA TEPLA AG
NEX NEXANS SA
ERG ERG S.P.A.
WIE WIENERBERGER AG
GREEN GREENYARD NV
FCC FOMENTO DE CONSTRUCCIONES Y CONTRATAS S.A.
NVG NAVIGATOR COMPANY SA
COL INMOBILIARIA COLONIAL SOCIMI SA
SIFG SIF HOLDING NV
TMV TEAMVIEWER AG
VK VALLOUREC SA
FPE3 FUCHS PETROLUB SE
- Baptiste Lebacq
Vallourec : Faster deleveraging = shareholder returns getting nearer
>Outperform rating and € 21 target price maintained - Following the results publication and the conference call, we reiterate our Outperform recommendation on the stock (target price € 21). We lowered our 2024-2026 EBITDA estimates (by -3% on average, bigger impact in 2024 given the situation in North America). Despite a YTD gain of 18%, Vallourec still shows a discount of 40% (in terms of EV/EBITDA 2025) vs its main peer Tenaris. Vallourec is deleveraging more r...
- Baptiste Lebacq
Vallourec : Désendettement plus rapide = retour à l’actionnaire qui se...
>Opinion Surperformance et OC 21 € maintenus - Post publication et conférence téléphonique, nous réitérons notre recommandation Surperformance (OC 21 €). Nous avons ajusté nos attentes d’EBITDA 2024/26 à la baisse (-3% en moyenne, impact plus important sur 2024 compte tenu de la situation en Amérique du Nord). Vallourec, malgré une performance YTD de 18%, affiche toujours une décote de 40% (en VE/EBITDA 2025) vs son principal comparable Tenaris. Vallourec se dése...
VINCI Autoroutes and VINCI Airports traffic in April 2024
VINCI Autoroutes and VINCI Airports traffic in April 2024 Nanterre, 16 May 2024 VINCI Autoroutes and VINCI Airports traffic in April 2024 I- Change in VINCI Autoroutes’ intercity networks traffic April YTD at the end of April(4 months) % change 2024/2023 % change 2024/2023 VINCI Autoroutes −1.5% −1.4% Light vehicles −2.8% −1.4% Heavy vehicles +6.7% −1.5% Traffic in April was impacted by various calendar effects: unfavorable for light vehicles (start of Easter weekend in March this year instea...
Trafics de VINCI Autoroutes et de VINCI Airports en avril 2024
Trafics de VINCI Autoroutes et de VINCI Airports en avril 2024 Nanterre, le 16 mai 2024 Trafics de VINCI Autoroutes et de VINCI Airports en avril 2024 I- Évolution du trafic des réseaux interurbains de VINCI Autoroutes Avril Cumul à fin avril(4 mois) Variation 2024/2023 Variation 2024/2023 VINCI Autoroutes −1,5 % −1,4 % Véhicules légers −2,8 % −1,4 % Poids lourds +6,7 % −1,5 % Le trafic du mois d’avril a été impacté par différents effets calendaires : défavorables pour les véhicules légers (début du week-end de Pâques position...
- Ahmed Ben Salem
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/16/2024
We have tactically downgraded the energy sector from Overweight to Neutral (excl. oil services on which we are maintaining our Overweight rating) and dropped Shell Plc from our Large Caps list. The IEA report has accelerated the downswing for the energy sector, which could continue in the days ahead. June will be a better month to come back to the sector. - ...
UBI UBISOFT ENTERTAINMENT SA
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
AAL ANGLO AMERICAN PLC
GBF BILFINGER SE
ALV ALLIANZ SE
KBC KBC GROUP N.V.
CPG COMPASS GROUP PLC
BRBY BURBERRY GROUP PLC
RF EURAZEO SA
VOE VOESTALPINE AG
EOAN E.ON SE
ENI ENI S.P.A.
RWE RWE AG
EZJ EASYJET PLC
DTE DEUTSCHE TELEKOM AG
TLX TALANX AG
REP REPSOL SA
HLAG HAPAG-LLOYD AG
AD KONINKLIJKE AHOLD DELHAIZE N.V.
SIE SIEMENS AG
BP. BP P.L.C.
SHEL SHELL PLC
AGN AEGON N.V.
SYENS SYENSQO
- Jerôme Bodin
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 05/16/2024
We have tactically downgraded the energy sector from Overweight to Neutral (excl. oil services on which we are maintaining our Overweight rating) and dropped Shell Plc from our Large Caps list. The IEA report has accelerated the downswing for the energy sector, which could continue in the days ahead. June will be a better month to come back to the sector. - ...
FP TOTAL SE
EQNR EQUINOR ASA
ELIOR ELIOR GROUP SA
GALP GALP ENERGIA SGPS SA CLASS B
ALFOC FOCUS HOME INTERACTIVE SA
GYC GRAND CITY PROPERTIES SA
GLJ GRENKE AG
DEC JCDECAUX SA
BLC BASTIDE LE CONFORT MEDICAL SA
JCQ JACQUET METALS SA
ENI ENI S.P.A.
REP REPSOL SA
VASTN VASTNED RETAIL NV
ERG ERG S.P.A.
CPINV CARE PROPERTY INVEST SA
DIC DIC ASSET AG
FNTN FREENET AG
DUFN DUFRY AG
BP. BP P.L.C.
MDM MAISONS DU MONDE SA
JST JOST WERKE AG
DMP DERMAPHARM HOLDING SE
VK VALLOUREC SA
SHEL SHELL PLC
FLE PEGASUS ENTREPRENEURIAL ACQUISITION CO EURO BV
- Carole Braudeau
Credit Morning 05/16/2024
Altice designates certain subsidiaries as unrestricted (Bloomberg)Elior: good H1 23/24 results and confidence in targetsMoody's upgrades Monte's ratings by one notch to Ba2 senior and Ba3 Tier 2Avolta (ex-Dufry): solid first quarter, guidance confirmedMaxeda: after a difficult FY 2023 (leverage above 5x), the group is counting on its free cash flow generation in 2024 to deleverage before refinancing next year.>...
- Carole Braudeau
Morning Crédit 16/05/2024
Maxeda : après une année 2023 difficile (levier au-dessus de 5x), le groupe mise sur sa génération de free cash-flow en 2024 pour se désendetter avant son refinancement l’an prochainAltice désigne certaines filiales comme non restreintes (Bloomberg)Moody’s réhausse d’un cran les notes de Monte, à Ba2 en senior et à Ba3 en Tier 2Elior : bonne publication au S1 23/24 et confiance sur les objectifs fixésAvolta (ex-Dufry) : Très bon trimestre, guidances confirmées...
- Ahmed Ben Salem
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 16/05/2024
Nous dégradons tactiquement à Neutre le secteur de l’énergie (hors Services Pétroliers sur lesquels nous conservons une opinion Surperformance) et faisons sortir Shell plc de notre liste Large Caps. Le rapport AIE a accéléré la baisse du secteur énergie, qui pourrait se poursuivre dans les jours qui viennent. Juin sera un meilleur mois pour revenir sur le secteur. - ...
UBI UBISOFT ENTERTAINMENT SA
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
AAL ANGLO AMERICAN PLC
GBF BILFINGER SE
ALV ALLIANZ SE
KBC KBC GROUP N.V.
CPG COMPASS GROUP PLC
BRBY BURBERRY GROUP PLC
RF EURAZEO SA
VOE VOESTALPINE AG
EOAN E.ON SE
ENI ENI S.P.A.
RWE RWE AG
EZJ EASYJET PLC
DTE DEUTSCHE TELEKOM AG
TLX TALANX AG
REP REPSOL SA
HLAG HAPAG-LLOYD AG
AD KONINKLIJKE AHOLD DELHAIZE N.V.
SIE SIEMENS AG
BP. BP P.L.C.
SHEL SHELL PLC
AGN AEGON N.V.
SYENS SYENSQO
- Jerôme Bodin
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 16/05/2024
Nous dégradons tactiquement à Neutre le secteur de l’énergie (hors Services Pétroliers sur lesquels nous conservons une opinion Surperformance) et faisons sortir Shell plc de notre liste Large Caps. Le rapport AIE a accéléré la baisse du secteur énergie, qui pourrait se poursuivre dans les jours qui viennent. Juin sera un meilleur mois pour revenir sur le secteur. - ...
FP TOTAL SE
EQNR EQUINOR ASA
ELIOR ELIOR GROUP SA
GALP GALP ENERGIA SGPS SA CLASS B
ALFOC FOCUS HOME INTERACTIVE SA
GYC GRAND CITY PROPERTIES SA
GLJ GRENKE AG
DEC JCDECAUX SA
BLC BASTIDE LE CONFORT MEDICAL SA
JCQ JACQUET METALS SA
ENI ENI S.P.A.
REP REPSOL SA
VASTN VASTNED RETAIL NV
ERG ERG S.P.A.
CPINV CARE PROPERTY INVEST SA
DIC DIC ASSET AG
FNTN FREENET AG
DUFN DUFRY AG
RUI RUBIS SCA
BP. BP P.L.C.
MDM MAISONS DU MONDE SA
JST JOST WERKE AG
DMP DERMAPHARM HOLDING SE
VK VALLOUREC SA
SHEL SHELL PLC
FLE PEGASUS ENTREPRENEURIAL ACQUISITION CO EURO BV
- Olfa Taamallah
- Yan Derocles
easyJet : H1 release pretty much in line with consensus expectations
>H1 2023-24 release in mid-range of the guidance - easyJet has just released its detailed H1 2023-24 release with a headline loss before tax of £ 350m in the middle of the range in the trading update for a loss of £ 340-360m (VA consensus was expecting -£ 340m). This reflects a £ 61m improvement y-o-y driven by network growth, cost discipline and the continued expansion of easyJet holidays.Total revenue increased by 22% to £ 3,268m predominantly due to an increa...
- Olfa Taamallah
- Yan Derocles
easyJet : H1 release pretty much in line with consensus expectations
>H1 2023-24 release in mid-range of the guidance - easyJet has just released its detailed H1 2023-24 release with a headline loss before tax of £ 350m in the middle of the range in the trading update for a loss of £ 340-360m (VA consensus was expecting -£ 340m). This reflects a £ 61m improvement y-o-y driven by network growth, cost discipline and the continued expansion of easyJet holidays.Total revenue increased by 22% to £ 3,268m predominantly due to an increa...
- Baptiste Lebacq
Vallourec : Continuing debt paydown/Q2 guidance below expectations
>EBITDA in line and debt reduction ahead of expectations - EBITDA at € 235m, -16% q-o-q and +27% y-o-y, in line with our forecasts at € 237m (consensus € 240m).Tubes EBITDA of € 220m, down 12% q-o-q and 21% y-o-y due to price reductions in the US and lower volumes, largely driven by the closure in GermanyMine and forests EBITDA of € 30m, - 29% q-o-q and 37% y-o-y as a result of lower sales volumes and a reduction in the non-cash effects for the revaluation o...
- Manuel Martin
- CEFA
- CREA
GRAND CITY Properties S.A. : Q1 2024 results in line overall with our ...
>FY 2024e outlook confirmed - Grand City (GCP) reported this morning Q1 2024 figures which were in line overall with our expectations. GCP confirmed its FY 2024e FFO guidance of € 175m-€ 185m.Earnings from property lettings increased y-o-y to € 84.2m (+2.5% y-o-y), which was in line with our estimate of € 83.5m. FFO I of € 45.2m decreased by -3.6% y-o-y translating into a FFO I per share of € 0.26 (-5.9% y-o-y), both slightly above our estimates. EPRA NTA per sha...
- Baptiste Lebacq
Vallourec : Désendettement se poursuit / guidance T2 en dessous des at...
>EBITDA en ligne et désendettement > attentes - EBITDA à 235 M€, -16% QoQ et +27% YoY, en ligne avec nos prévisions à 237M€ (consensus 240 M€).EBITDA des Tubes de 220 M€, en baisse de 12% en glissement trimestriel et de 21% sur un an en raison de réductions de prix aux États-Unis et de baisses de volumes, largement portées par la fermeture de l'AllemagneEBITDA Mine & Forêt de 30 M€, - 29% QoQ et 37% YoY en raison de la baisse des volumes de ventes et de la d...
Grand City Properties S.A. announces good start in Q1 2024 driven by s...
Grand City Properties S.A. (IRSH) Grand City Properties S.A. announces good start in Q1 2024 driven by strong operations 16-May-2024 / 06:40 CET/CEST The issuer is solely responsible for the content of this announcement. THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAWS OR REGULATIONS GRAND CITY PROPERTIES S.A. ANNOUNCES GOOD START IN Q1 2024 DRIVEN BY STRONG OPERATIONS Net ren...
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