reports
- Andreas Riemann
- Jean Danjou
- Usama Tariq
ODDO BHF Small & MIDCAP MORNING NEWS - 03/28/2024
With the exception of the US, construction markets should continue to shrink in 2024 (-2% in Europe) before rebounding on the back of lower interest rates. Against this backdrop, groups will be differentiated mainly on the basis of their resilience (geographical and price/cost mix), capital allocation (and special situations) and valuation. In this context, we are upgrading our recommendations on KONE (modernisation as an alternative source of growth to China) and Holcim (a substantia...
OSE OSE IMMUNOTHERAPEUTICS SA
ZIL2 ELRINGKLINGER AG
SBS STRATEC SE
F3C SFC ENERGY AG
HCO HIGHCO SA
CGM CEGEDIM SA
VRAP VRANKEN-POMMERY MONOPOLE SA
LNA LNA SANTE SA
TRI TRIGANO SA
BCP BANCO COMERCIAL PORTUGUES S.A.
QDT QUADIENT SA
SESL SES-IMAGOTAG SA
BEZ BERENTZEN GRUPPE
ALBFR SIDETRADE SA
SMHN SUESS MICROTEC AG
JUN3 JUNGHEINRICH AG PREF
S92 SMA SOLAR TECHNOLOGY AG
RBO ROCHE BOBOIS INTERNATIONAL SAS
JEN JENOPTIK AG
KTA KNAUS TABBERT
INPST INPOST S.A.
MRX MISTER SPEX SE
LHYFE LHYFE S.A.
- Andreas Riemann
- Jean Danjou
- Usama Tariq
ODDO BHF Small & MIDCAP MORNING NEWS - 28/03/2024
Hormis les Etats-Unis, les marchés de la construction devraient continuer à reculer en 2024 (-2% en Europe) avant de rebondir à la faveur d’une baisse des taux. Dans ce contexte, la différenciation entre les groupes se fera essentiellement sur leur capacité de résistance (mix géographique et prix/ coûts), l’allocation du capital (et situations spéciales) et leur valorisation. Face à cet environnement, nous relevons nos recommandations sur KONE (la modernisation comme relais de la Chin...
OSE OSE IMMUNOTHERAPEUTICS SA
ZIL2 ELRINGKLINGER AG
SBS STRATEC SE
TNG TRANSGENE SA
F3C SFC ENERGY AG
HCO HIGHCO SA
CGM CEGEDIM SA
NTG NETGEM SA
VRAP VRANKEN-POMMERY MONOPOLE SA
LNA LNA SANTE SA
TRI TRIGANO SA
BCP BANCO COMERCIAL PORTUGUES S.A.
QDT QUADIENT SA
SESL SES-IMAGOTAG SA
BEZ BERENTZEN GRUPPE
ALBFR SIDETRADE SA
SMHN SUESS MICROTEC AG
JUN3 JUNGHEINRICH AG PREF
S92 SMA SOLAR TECHNOLOGY AG
RBO ROCHE BOBOIS INTERNATIONAL SAS
JEN JENOPTIK AG
KTA KNAUS TABBERT
INPST INPOST S.A.
MRX MISTER SPEX SE
LHYFE LHYFE S.A.
- Andreas Riemann
- Jean Danjou
Mister Spex SE : Modest growth forecast for 2024
>Significant growth in the gross margin in Q4 but 2023 adjusted EBITDA is barely positive, reflecting a margin of 0.4% - The company had already announced on 31 January full-year sales close to € 223m, up +6% y-o-y. The final amount stands at € 223.5m and reflects +10% in prescription, +13% in sunglasses and -6% in contact lenses. In Q4, sales growth stood at +7.3% after +2.4% in Q3 (prescription +18%, solar +19%, contact lenses -13%). The new information from the pu...
- Andreas Riemann
- Jean Danjou
Mister Spex SE : Modeste croissance attendue sur 2024
>Progression importante de la marge brute au T4 mais l’EBITDA ajusté 2023 ressort à peine positif reflétant une marge de 0.4% - La société avait déjà communiqué le 31 janvier un CA annuel proche de 223 M€ en hausse de 6% y/y. Le chiffre final ressort à 223.5 M€ et reflète +10% en prescription, +13% en solaire et -6% en lentilles de contact. Au T4, la croissance du CA s’élève à +7.3% après +2.4% au T3 (prescription +18%, solaire +19%, lentilles de contact -13%). L’in...
EQS-News: Mister Spex meets 2023 guidance, gains market share again an...
EQS-News: Mister Spex SE / Key word(s): Annual Results Mister Spex meets 2023 guidance, gains market share again and embarks on the next chapter of sustainable growth 27.03.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Berlin, 27 March 2024 Mister Spex meets 2023 guidance, gains market share again and embarks on the next chapter of sustainable growth In 2023, net revenue increased by 6% for the Group and 10% for Germany Adjusted EBITDA reached € 0.9 million, an improvement of approx. € 9 million year-on-year 202...
EQS-News: Mister Spex erfüllt die Prognose für 2023, gewinnt erneut Ma...
EQS-News: Mister Spex SE / Schlagwort(e): Jahresergebnis Mister Spex erfüllt die Prognose für 2023, gewinnt erneut Marktanteile und schlägt das nächste Kapitel des nachhaltigen Wachstums auf 27.03.2024 / 07:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Berlin, 27. März 2024 Mister Spex erfüllt die Prognose für 2023, gewinnt erneut Marktanteile und schlägt das nächste Kapitel des nachhaltigen Wachstums auf Im Jahr 2023 stieg der Nettoumsatz für die Gruppe um 6 % und für Deutschland um 10 % Das bereinigte EBITDA verbess...
- Anthony Dick
- Michael Foundoukidis
- Andreas Riemann
- Jean Danjou
Mister Spex SE : Moderate growth at the end of the year, now what?
>FY sales a bit below expectations with Q4 growth at +7% but a rather supportive mix - Mister Spex released preliminary FY sales for 2023 of c. € 223m, +6% y-o-y, this is a bit below our forecasts suggesting a Q4 growth at +7% while we had +9% for the quarter and the consensus as reported by the co. was expecting +8%. However the indications given at this stage for the FY (prescription growth +10%, sunglass growth +13%) indicate that growth in both categories was rob...
EQS-News: Anspruchsvoller Markt, starke Ergebnisse: Mister Spex bestä...
EQS-News: Mister Spex SE / Schlagwort(e): Vorläufiges Ergebnis/Sonstiges Anspruchsvoller Markt, starke Ergebnisse: Mister Spex bestätigt Prognose mit 6 % Umsatzwachstum und positivem bereinigtem EBITDA 31.01.2024 / 07:35 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Berlin, 31. Januar 2024 Anspruchsvoller Markt, starke Ergebnisse: Mister Spex bestätigt Prognose mit 6 % Umsatzwachstum und positivem bereinigtem EBITDA Umsatzsteigerung auf 223 Millionen Euro (2022: 210 Mio. Euro) Umsatzwachstum mit 6 % im Rahmen der Prognose (m...
EQS-News: Challenging market, strong results: Mister Spex confirms gui...
EQS-News: Mister Spex SE / Key word(s): Preliminary Results/Miscellaneous Challenging market, strong results: Mister Spex confirms guidance with 6% revenue growth and positive adjusted EBITDA 31.01.2024 / 07:35 CET/CEST The issuer is solely responsible for the content of this announcement. Berlin, 31 January 2024 Challenging market, strong results: Mister Spex confirms guidance with 6% revenue growth and positive adjusted EBITDA Revenue increase to € 223 million (2022: € 210 million) Revenue growth of 6% within the guidance range (mid-high single digit growth) Adju...
EQS-News: Co-CEO Dr. Mirko Caspar scheidet zum Jahresende bei Mister S...
EQS-News: Mister Spex SE / Schlagwort(e): Personalie Co-CEO Dr. Mirko Caspar scheidet zum Jahresende bei Mister Spex aus 20.12.2023 / 20:05 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Berlin, 20. Dezember 2023 Co-CEO Dr. Mirko Caspar scheidet zum Jahresende bei Mister Spex aus Der Co-CEO der Mister Spex SE, Dr. Mirko Caspar, hat den Aufsichtsrat darum gebeten, zum 31. Dezember 2023 aus dem Vorstand auszuscheiden. Er wird das Unternehmen selbstverständlich über den Jahreswechsel hinaus unterstützen, um eine ordnungsgemäße Ü...
EQS-News: Dr. Mirko Caspar has asked to step down as a Co-CEO of Miste...
EQS-News: Mister Spex SE / Key word(s): Personnel Dr. Mirko Caspar has asked to step down as a Co-CEO of Mister Spex SE after twelve years service with the company 20.12.2023 / 20:05 CET/CEST The issuer is solely responsible for the content of this announcement. Berlin, 20 December 2023 Dr. Mirko Caspar has asked to step down as a Co-CEO of Mister Spex SE after twelve years service with the company The Co-CEO of Mister Spex SE, Dr. Mirko Caspar, has asked to step down from the Management Board on 31st December 2023. He will support the company to ensure a proper h...
- Jean Danjou
- Oliver Metzger
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 10/11/2023
La saison des résultats du T3, qui a vu se succéder de vives sanctions pour les titres qui décevaient les attentes, n’a pourtant jusqu’à présent occasionné qu’une modeste révision baissière du consensus. Les BPA 2023 sont désormais attendus en baisse de 1,1% vs 2022, avec bien entendu des divergences sectorielles importantes. C’est toutefois la baisse des taux, intervenue depuis fin septembre, qui a davantage drivé les performances boursières, à l’instar de la Technology et des Consum...
PROX PROXIMUS SA DE DROIT PUBLIC
APAML APERAM SA
KPN ROYAL KPN NV
ORA ORANGE SA
EN BOUYGUES SA
UTDI UNITED INTERNET AG
DEC JCDECAUX SA
TNET TELENET GROUP HOLDING NV
INTO INTERVEST OFFICES & WAREHOUSES SA
GAMA GAMMA COMMUNICATIONS
VLS VALNEVA SE
MRN MERSEN SA
WIZZ WIZZ AIR HOLDINGS PLC
DTE DEUTSCHE TELEKOM AG
FIE FIELMANN AG
WIE WIENERBERGER AG
SAX STROEER SE & CO. KGAA
BPOST BPOST SA
TIT TELECOM ITALIA S.P.A.
LTA ALTAMIR ACT PORTEUR
SMHN SUESS MICROTEC AG
COL INMOBILIARIA COLONIAL SOCIMI SA
SIFG SIF HOLDING NV
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
ALM ALMIRALL SA
JUN3 JUNGHEINRICH AG PREF
SAE SHOP APOTHEKE EUROPE NV
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
S92 SMA SOLAR TECHNOLOGY AG
TITC TITAN CEMENT INTERNATIONAL N.V.
COP COMPUGROUP MEDICAL SE & CO. KGAA
MRX MISTER SPEX SE
RWI RENEWI PLC
FLE PEGASUS ENTREPRENEURIAL ACQUISITION CO EURO BV
STM STABILUS SE
- Jean Danjou
- Oliver Metzger
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 11/10/2023
The Q3 earnings season, which has seen stocks that have disappointed expectations take a severe pounding, has thus far resulted in only a modest downward revision to the consensus. EPS for 2023 are now expected to be down -1.1% vs 2022, with of course significant divergences between sectors. However, it is the fall in interest rates since the end of September that has driven stock market performances the most, with technology and consumer products & services (including luxury goods) r...
PROX PROXIMUS SA DE DROIT PUBLIC
APAML APERAM SA
KPN ROYAL KPN NV
ORA ORANGE SA
EN BOUYGUES SA
UTDI UNITED INTERNET AG
DEC JCDECAUX SA
TNET TELENET GROUP HOLDING NV
INTO INTERVEST OFFICES & WAREHOUSES SA
GAMA GAMMA COMMUNICATIONS
VLS VALNEVA SE
MRN MERSEN SA
WIZZ WIZZ AIR HOLDINGS PLC
DTE DEUTSCHE TELEKOM AG
FIE FIELMANN AG
WIE WIENERBERGER AG
SAX STROEER SE & CO. KGAA
BPOST BPOST SA
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
LTA ALTAMIR ACT PORTEUR
SMHN SUESS MICROTEC AG
COL INMOBILIARIA COLONIAL SOCIMI SA
SIFG SIF HOLDING NV
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
ALM ALMIRALL SA
JUN3 JUNGHEINRICH AG PREF
SAE SHOP APOTHEKE EUROPE NV
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
S92 SMA SOLAR TECHNOLOGY AG
TITC TITAN CEMENT INTERNATIONAL N.V.
COP COMPUGROUP MEDICAL SE & CO. KGAA
MRX MISTER SPEX SE
RWI RENEWI PLC
FLE PEGASUS ENTREPRENEURIAL ACQUISITION CO EURO BV
STM STABILUS SE
- Andreas Riemann
- Jean Danjou
Mister Spex SE : Lacklustre sales in Q3 2023 but October sees a catchu...
>Meagre growth in Q3 at 2% with a decline in prescription, adjusted EBITDA slightly positive despite a gross margin undermined by the mix - The company reported 9-month sales of € 176.8m (+6% y-o-y) or Q3 sales of € 59.7m, up 2% (vs +8.2% in H1) and adjusted EBITDA came to € 0.9m for 9 months (margin 0.5%) or € 0.2m for Q3 (margin 0.4% vs -1.0% in Q3 2022). We forecast Q3 sales of € 60.2m or +3.3% and EBITDA of € 1.0m (margin 1.7%) and the company-compiled consensus ...
- Andreas Riemann
- Jean Danjou
Mister Spex SE : Activité en demi-teinte au T3 2023 mais octobre marqu...
>Faible croissance au T3 à 2% avec un recul en prescription, EBITDA ajusté légèrement positif malgré une marge brute impactée par le mix - La société publie un CA 9 mois de 176.8 M€ (+6% y/y) soit un CA T3 à 59.7 M€ en croissance de 2% (vs +8.2% au S1) et l’EBITDA ajusté s’élève à 0.9 M€ à 9 mois (marge 0.5%) soit 0.2 M€ pour le seul T3 (marge 0.4% contre -1.0% au T3 2022). Nous tablions sur un CA T3 de 60.2 M€ soit +3.3% et un EBITDA à 1.0 M€ (marge 1.7%) et le conse...
EQS-News: Mister Spex wächst weiter stärker als der Markt und verbesse...
EQS-News: Mister Spex SE / Schlagwort(e): Quartalsergebnis Mister Spex wächst weiter stärker als der Markt und verbessert seine Profitabilität im 3. Quartal – Prognose für 2023 bestätigt 09.11.2023 / 07:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Berlin, 9. November 2023 Mister Spex wächst weiter stärker als der Markt und verbessert seine Profitabilität im 3. Quartal – Prognose für 2023 bestätigt Die wichtigsten finanziellen Kennzahlen für Q3 2023 im Vergleich zum Vorjahr: Gesamtumsatz von € 60 Mio. und ein Plus von 2 % gege...
EQS-News: Mister Spex continues to outgrow the market and to improve i...
EQS-News: Mister Spex SE / Key word(s): Quarter Results Mister Spex continues to outgrow the market and to improve its profitability in Q3 – guidance for 2023 confirmed 09.11.2023 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Berlin, 9 November 2023 Mister Spex continues to outgrow the market and to improve its profitability in Q3 – guidance for 2023 confirmed Key Q3 2023 financial highlights compared to prior year: Total revenue €60 million, up 2% on top of an already strong Q3 2022 Second quarter in a row of positive adjus...
- Andreas Riemann
- Jean Danjou
ODDO BHF Small & MIDCAP MORNING NEWS - 10/17/2023 Date Performance sin...
We reiterate our Outperform rating but lower our price target from €56.5 to €45.0 per share. We now expect modest headwind in the Renovation segment of the Building Technology unit in late 2023 and 2024 due to higher interest rates and a weakening of industrial markets in Surface Tech in the Industrial Technology unit. Those are the main reasons for lower EBITA (margin) estimates for the period 2023-2025. Having said that, the 2026 EBITA margin target of 16%-18% is still in reach but ...
- Andreas Riemann
- Jean Danjou
ODDO BHF Small & MIDCAP MORNING NEWS - 17/10/2023 Date Performance dep...
We reiterate our Outperform rating but lower our price target from €56.5 to €45.0 per share. We now expect modest headwind in the Renovation segment of the Building Technology unit in late 2023 and 2024 due to higher interest rates and a weakening of industrial markets in Surface Tech in the Industrial Technology unit. Those are the main reasons for lower EBITA (margin) estimates for the period 2023-2025. Having said that, the 2026 EBITA margin target of 16%-18% is still in reach but ...
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