reports
- Bruno Cavalier
- Marc Lavaud
- Roy Külter
- Steven Boumans
SGO COMPAGNIE DE SAINT-GOBAIN SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
LI KLEPIERRE SA
COV COVIVIO SA
GFC GECINA SA
NXI NEXITY SA CLASS A
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
FLY SOCIETE FONCIERE LYONNAISE SA
GYC GRAND CITY PROPERTIES SA
MERY MERCIALYS SA
ALV ALLIANZ SE
EL ESSILORLUXOTTICA SA
WHA WERELDHAVE N.V.
TEP TELEPERFORMANCE SE
INTO INTERVEST OFFICES & WAREHOUSES SA
BLND BRITISH LAND COMPANY PLC
BRBY BURBERRY GROUP PLC
KOF KAUFMAN & BROAD SA
KER KERING SA
ALTA ALTAREA SCA
VNA VONOVIA SE
XIOR XIOR STUDENT HOUSING N.V.
DEQ DEUTSCHE EUROSHOP AG
BCP BANCO COMERCIAL PORTUGUES S.A.
ICAD ICADE SA
01913 PRADA S.P.A.
BYG BIG YELLOW GROUP PLC
COFB COFINIMMO SA
CAI CA IMMOBILIEN ANLAGEN AG
ACKB ACKERMANS & VAN HAAREN NV
TEG TAG IMMOBILIEN AG
VASTB VASTNED RETAIL BELGIUM NV
LPP LPP S.A.
PSPN PSP SWISS PROPERTY AG
UBS UBM DEVELOPMENT AG
SPSN SWISS PRIME SITE AG
PAT PATRIZIA AG
MONT MONTEA SCA
AED AEDIFICA SA
AMS AMADEUS IT GROUP SA CLASS A
CARM CARMILA SAS
LEG LEG IMMOBILIEN AG
MONC MONCLER SPA
CPINV CARE PROPERTY INVEST SA
SAFE SAFESTORE HOLDINGS PLC
ARG ARGAN SA
VGP VGP NV
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
COL INMOBILIARIA COLONIAL SOCIMI SA
DIC DIC ASSET AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
DKG DEUTSCHE KONSUM REIT-AG
HOME NEINOR HOMES SA
AT1 AROUNDTOWN SA
IMP IMPACT DEVELOPER & CONTRACTOR S.A.
LAND LAND SECURITIES GROUP PLC
MVC METROVACESA SA
NSI NSI N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
RMV RIGHTMOVE PLC
INS INSTONE REAL ESTATE GROUP AG
AEDAS AEDAS HOMES SA
JDEP JDE PEET'S NV
WDP WAREHOUSES DE PAUW SCA
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
ECMPA EUROCOMMERCIAL PROPERTIES NV
CTPNV CTP NV
ONE ONE UNITED PROPERTIES SA
SHUR SHURGARD SELF STORAGE LIMITED
- Bruno Cavalier
- Marc Lavaud
- Roy Külter
- Steven Boumans
SGO COMPAGNIE DE SAINT-GOBAIN SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
LI KLEPIERRE SA
COV COVIVIO SA
GFC GECINA SA
NXI NEXITY SA CLASS A
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
FLY SOCIETE FONCIERE LYONNAISE SA
GYC GRAND CITY PROPERTIES SA
MERY MERCIALYS SA
ALV ALLIANZ SE
EL ESSILORLUXOTTICA SA
WHA WERELDHAVE N.V.
TEP TELEPERFORMANCE SE
BLND BRITISH LAND COMPANY PLC
BRBY BURBERRY GROUP PLC
KOF KAUFMAN & BROAD SA
KER KERING SA
ALTA ALTAREA SCA
VNA VONOVIA SE
XIOR XIOR STUDENT HOUSING N.V.
BCP BANCO COMERCIAL PORTUGUES S.A.
ICAD ICADE SA
01913 PRADA S.P.A.
BYG BIG YELLOW GROUP PLC
COFB COFINIMMO SA
CAI CA IMMOBILIEN ANLAGEN AG
ACKB ACKERMANS & VAN HAAREN NV
TEG TAG IMMOBILIEN AG
VASTB VASTNED RETAIL BELGIUM NV
LPP LPP S.A.
PSPN PSP SWISS PROPERTY AG
UBS UBM DEVELOPMENT AG
SPSN SWISS PRIME SITE AG
PAT PATRIZIA AG
MONT MONTEA SCA
AED AEDIFICA SA
AMS AMADEUS IT GROUP SA CLASS A
CARM CARMILA SAS
LEG LEG IMMOBILIEN AG
MONC MONCLER SPA
CPINV CARE PROPERTY INVEST SA
SAFE SAFESTORE HOLDINGS PLC
ARG ARGAN SA
VGP VGP NV
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
COL INMOBILIARIA COLONIAL SOCIMI SA
DIC DIC ASSET AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
DKG DEUTSCHE KONSUM REIT-AG
HOME NEINOR HOMES SA
AT1 AROUNDTOWN SA
IMP IMPACT DEVELOPER & CONTRACTOR S.A.
LAND LAND SECURITIES GROUP PLC
MVC METROVACESA SA
NSI NSI N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
RMV RIGHTMOVE PLC
INS INSTONE REAL ESTATE GROUP AG
AEDAS AEDAS HOMES SA
JDEP JDE PEET'S NV
WDP WAREHOUSES DE PAUW SCA
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
ECMPA EUROCOMMERCIAL PROPERTIES NV
CTPNV CTP NV
ONE ONE UNITED PROPERTIES SA
SHUR SHURGARD SELF STORAGE LIMITED
- Louis Boujard
- CFA
- Philippe Ourpatian
- Louis Boujard
- CFA
- Philippe Ourpatian
- Andres Bolumburu
ACCIONA ENERGÍA: 4Q’24 RESULTS (ANÁLISIS BANCO SABADELL)
4Q'24 vs. 4Q'23 Results Sales: € 3.048 Bn (-14.1% vs. -16.8% BS(e) and -11.3% consensus); EBITDA: € 1.05 Bn (-18.3% vs. -20.6% BS(e) and -16.0% consensus); EBIT: € 699.0 M (-23.9%); Net Profit: € 357.0 M (-31.9% vs. -42.6% BS(e) and -40.8% consensus);
- Andres Bolumburu
- Ahmed Ben Salem
LHN HOLCIM AG
LRC LEGRAND
VIE VEOLIA ENVIRONNEMENT SA
SGO COMPAGNIE DE SAINT-GOBAIN SA
RR. ROLLS-ROYCE HOLDINGS PLC
ENGI ENGIE SA.
SK SEB SA
EBS ERSTE GROUP BANK AG
MUV2 MUNICH REINSURANCE COMPANY
TEP TELEPERFORMANCE SE
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
ENI ENI S.P.A.
GRF GRIFOLS S.A. CLASS A
ELE ENDESA S.A.
BAS BASF SE
UCB UCB S.A.
WPP WPP PLC
CRG CRH PLC
ANA ACCIONA SA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
IBE IBERDROLA SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
GRF.P GRIFOLS S.A. PREF CLASS B
BP. BP P.L.C.
DNP DINO POLSKA S.A.
LAND LAND SECURITIES GROUP PLC
RMV RIGHTMOVE PLC
NEXI NEXI S.P.A.
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
FER FERROVIAL SA
PUIG PUIG BRANDS
- Ahmed Ben Salem
LHN HOLCIM AG
LRC LEGRAND
VIE VEOLIA ENVIRONNEMENT SA
SGO COMPAGNIE DE SAINT-GOBAIN SA
RR. ROLLS-ROYCE HOLDINGS PLC
ENGI ENGIE SA.
SK SEB SA
EBS ERSTE GROUP BANK AG
MUV2 MUNICH REINSURANCE COMPANY
TEP TELEPERFORMANCE SE
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
ENI ENI S.P.A.
GRF GRIFOLS S.A. CLASS A
ELE ENDESA S.A.
BAS BASF SE
UCB UCB S.A.
WPP WPP PLC
CRG CRH PLC
ANA ACCIONA SA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
IBE IBERDROLA SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
GRF.P GRIFOLS S.A. PREF CLASS B
BP. BP P.L.C.
DNP DINO POLSKA S.A.
LAND LAND SECURITIES GROUP PLC
RMV RIGHTMOVE PLC
NEXI NEXI S.P.A.
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
FER FERROVIAL SA
PUIG PUIG BRANDS
- Andres Bolumburu
ACCIONA ENERGÍA: RDOS. 4T’24 (ANÁLISIS BANCO SABADELL)
Rdos. 4T'24 vs 4T'23: Ventas: 3.048 M euros (-14,1% vs -16,8% BS(e) y -11,3% consenso); EBITDA: 1.050 M euros (-18,3% vs -20,6% BS(e) y -16,0% consenso); EBIT: 699,0 M euros (-23,9%); BDI: 357,0 M euros (-31,9% vs -42,6% BS(e) y -40,8% consenso);
- Louis Boujard
- CFA
- Philippe Ourpatian
- Research Department
IBERIAN DAILY 28 FEBRUARY + 4Q'24 RESULTS. PREVIEWS (ANÁLISIS BANCO SA...
NEWS SUMMARY: ACERINOX, ACCIONA, ACCIONA ENERGÍA, ACS, AMADEUS, COLONIAL, ENCE, FERROVIAL, GRIFOLS, MELIÁ HOTELES, MERLIN PROPERTIES, PUIG BRANDS, REPSOL, SACYR, VISCOFAN. 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’24 results to be released over the coming days in Spain. Losses in Europe Despite many companies releasing their 4Q’24 results yesterday, the session was mar...
SYV SACYR S.A.
REP REPSOL SA
VID VIDRALA SA
ANA ACCIONA SA
AAD AMADEUS FIRE AG
VIS VISCOFAN S.A.
AMS AMADEUS IT GROUP SA CLASS A
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
ENC ENCE ENERGIA Y CELULOSA SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
FER FERROVIAL S.A.
MEL MELIA HOTELS INTERNATIONAL S.A.
COL SM INMOBILIARIA COLONIAL (COL SM)
GRF SM GRIFOLS (GRF SM)
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
PUIG PUIG BRANDS
- Louis Boujard
- CFA
- Philippe Ourpatian
- Research Department
INFORME DIARIO 28 FEBRERO + RDOS. ESPAÑA Y EUROPA 4T’24. PREVIEWS (ANÁ...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACERINOX, ACCIONA, ACCIONA ENERGÍA, ACS, AMADEUS, COLONIAL, ENCE, FERROVIAL, GRIFOLS, MELIÁ HOTELES, MERLIN PROPERTIES, PUIG BRANDS, REPSOL, SACYR, VIDRALA, VISCOFAN. EUROPA: ALLIANZ, BASF, ENI. 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. 4T’24 que se publicarán en España y Europa en los próximos días. P...
ACX ACERINOX SA
SYV SACYR S.A.
ENI ENI S.P.A.
BAS BASF SE
REP REPSOL SA
VID VIDRALA SA
ANA ACCIONA SA
VIS VISCOFAN S.A.
AMS AMADEUS IT GROUP SA CLASS A
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
ENC ENCE ENERGIA Y CELULOSA SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
FER FERROVIAL S.A.
MEL MELIA HOTELS INTERNATIONAL S.A.
COL SM INMOBILIARIA COLONIAL (COL SM)
GRF SM GRIFOLS (GRF SM)
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
PUIG PUIG BRANDS
- Benjaphol Suthwanish
- Jonathan Koh
- Kampon Akaravarinchai
- Kong Ho Meng
- Stevanus Juanda
Regional Morning Meeting Notes: Friday, January 31, 2025
INDONESIA Update Mayora Indah (MYOR IJ/HOLD/Rp2,500/Target: Rp2,300) Margins will still be negatively affected in 4Q24 and 1H25. MALAYSIA Sector Oil & Gas PAO aligns with our view on cuts in exploration/JU rig demand, but maintenance demand remains intact. Plant turnaround may be the biggest winner, but with high execution risks in 2Q25, 2Q26 and 1Q27. SINGAPORE Sector REITs ...
BJC BERLI JUCKER PUBLIC CO. LTD.
5681 PETRONAS DAGANGAN BHD.
5218 SAPURA ENERGY BHD
AJBU KEPPEL DC REIT
MYOR MAYORA INDAH
3816 MISC BHD
5243 VELESTO ENERGY
UZMA UZMA BHD
YNS YINSON HOLDINGS BHD
KREIT KEPPEL REIT
BAB BUMI ARMADA BERHAD
MINT MAPLETREE INDUSTRIAL TRUST
DLG DIALOG GROUP BHD
MMHE MALAYSIA MARINE AND HEAVY EN
DLUM DELEUM BERHAD
TXG 10X GENOMICS INC CLASS A
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
CLAR CAPITALAND ASCENDAS REIT
DCRU DIGITAL CORE REIT MANAGEMENT PTE. LTD.
Z29 029 GROUP SE
- Andres Bolumburu
- Rafael Bonardell
- Virginia Romero
SECTOR RENOVABLES ESPAÑA: DEMODÉ ¿HASTA CUÁNDO? (ANÁLISIS BANCO SABADE...
Hay mimbres para retomar alzas en bolsa. Mantenemos SOBREPONDERAR en IBE, ANA, ANE, ENER. Cambiamos SLR a INFRAPONDERAR. Durante 2024 el sector ha continuado lastrado en bolsa (-20% el S&P Global Clean Energy Index, vs +20% el Ibex y el S&P Global) y cotiza a múltiplos deprimidos (16x). Gran parte de las incertidumbres han pasado a ser vientos de cola en 2024: (i) mejora de la demanda de electricidad, (ii) rebaja de los costes de instalación y (iii) la evolución a la baja de los tipos de interé...
- Emmanuel Matot
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 18/11/2024
Comme prévu, les actions américaines ont salué la victoire de Donald Trump tandis que les bourses européennes accusaient le coup, également lestées deux jours plus tard par une nouvelle déception sur le plan de relance chinois. Nos stratégies sectorielles et paniers de valeurs Trump (long ou short) ont fonctionné, avec quelques exceptions qui peuvent être des opportunités d’investissement, à l’instar de Total Energies ou Repsol. En Europe, nous conservons notre opinion Sous-pondérer s...
NXI NEXITY SA CLASS A
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
ELE ENDESA S.A.
01913 PRADA S.P.A.
SOI SOITEC SA
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
TRE TECNICAS REUNIDAS SA
ATRY ATRYS HEALTH
TMV TEAMVIEWER AG
VK VALLOUREC SA
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
PLX PLUXEE NV
- Bruno Cavalier
- Louis Boujard
- CFA
- Philippe Ourpatian
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/18/2024
As expected, US equities welcomed Donald Trump's victory, while European stock markets reacted negatively, also weighed down two days later by a further disappointment on China's stimulus plan. Our sector strategies and baskets of Trump stocks (long or short) have paid off, with a few exceptions that may provide investment opportunities, like Total Energies or Repsol. In Europe, we are maintaining our Underweight recommendation on the Basic Resources, Chemicals, Luxury Goods and Autom...
SGO COMPAGNIE DE SAINT-GOBAIN SA
SREN SWISS RE AG
MC LVMH MOET HENNESSY LOUIS VUITTON SE
HO THALES SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
G ASSICURAZIONI GENERALI S.P.A.
ELE ENDESA S.A.
ENEL ENEL SPA
01913 PRADA S.P.A.
BC8 BECHTLE AG
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
AGN AEGON N.V.
- Emmanuel Matot
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 11/18/2024
As expected, US equities welcomed Donald Trump's victory, while European stock markets reacted negatively, also weighed down two days later by a further disappointment on China's stimulus plan. Our sector strategies and baskets of Trump stocks (long or short) have paid off, with a few exceptions that may provide investment opportunities, like Total Energies or Repsol. In Europe, we are maintaining our Underweight recommendation on the Basic Resources, Chemicals, Luxury Goods and Autom...
NXI NEXITY SA CLASS A
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
ELE ENDESA S.A.
01913 PRADA S.P.A.
SOI SOITEC SA
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
TRE TECNICAS REUNIDAS SA
ATRY ATRYS HEALTH
TMV TEAMVIEWER AG
VK VALLOUREC SA
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
PLX PLUXEE NV
- Bruno Cavalier
- Louis Boujard
- CFA
- Philippe Ourpatian
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 18/11/2024
Comme prévu, les actions américaines ont salué la victoire de Donald Trump tandis que les bourses européennes accusaient le coup, également lestées deux jours plus tard par une nouvelle déception sur le plan de relance chinois. Nos stratégies sectorielles et paniers de valeurs Trump (long ou short) ont fonctionné, avec quelques exceptions qui peuvent être des opportunités d’investissement, à l’instar de Total Energies ou Repsol. En Europe, nous conservons notre opinion Sous-pondérer s...
SGO COMPAGNIE DE SAINT-GOBAIN SA
SREN SWISS RE AG
MC LVMH MOET HENNESSY LOUIS VUITTON SE
HO THALES SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
G ASSICURAZIONI GENERALI S.P.A.
ELE ENDESA S.A.
ENEL ENEL SPA
01913 PRADA S.P.A.
BC8 BECHTLE AG
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
AGN AEGON N.V.
- Louis Boujard
- CFA
- Philippe Ourpatian
ODDO : A win/win deal between Acciona Energia and Endesa
>A deal on hydroelectric assets in Spain - Acciona Energia has announced the signature of an agreement with Endesa for the divestment of 100% of the capital of its subsidiary Corporación Acciona Hidráulica (CAH) for an enterprise value of € 1bn. This transaction is debt exempt and will generate a capital gain estimated at € 620m for Acciona Energia. The deal is expected to close in the first half of 2025, following approval from the anti-trust authorities and the nec...
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