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...
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...
>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...
>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...
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. - ...
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. - ...
>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...
>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...
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...
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. - ...
>Revenue and profitability up y-o-y - MBB posted Q1 2024 revenue of € 205.5m (+2.3% y-o-y) which were slightly lower than we had assumed (€ 210.9mm). Revenue in the Service & Infrastructure segment (+6.3% y-o-y) and the Technological Applications segment (+3.6% y-o-y) increased y-o-y, whereas revenue in the Consumer Goods segments (-14.6% y-o-y) was down compared to the same period last year. The adjusted EBITDA margin of 11.0% (+ 410bp y-o-y) was above our estimate (...
EQS-News: MBB SE / Key word(s): Quarterly / Interim Statement MBB SE increases EBITDA by 64% to €23 million in the first quarter and achieves 11% EBITDA margin 15.05.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. MBB SE increases EBITDA by 64% to €23 million in the first quarter and achieves 11% EBITDA margin Berlin, 15 May 2024 - MBB SE (ISIN DE000A0ETBQ4), a medium-sized family business, increased its adjusted EBITDA by 64.3% to €22.7 million in the first quarter of 2024. The EBITDA margin thus reached 11.0%, which corresp...
EQS-News: MBB SE / Schlagwort(e): Quartals-/Zwischenmitteilung MBB SE steigert EBITDA im ersten Quartal um 64 % auf 23 Mio. € und erreicht 11 % EBITDA-Marge 15.05.2024 / 08:00 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. MBB SE steigert EBITDA im ersten Quartal um 64 % auf 23 Mio. € und erreicht 11 % EBITDA-Marge Berlin, 15. Mai 2024 – MBB SE (ISIN DE000A0ETBQ4), ein mittelständisches Familienunternehmen, hat im ersten Quartal 2024 sein bereinigtes EBITDA um 64,3 % auf 22,7 Mio. € gesteigert. Die EBITDA-Marge erreichte somit 11,0...
Quadient S.A. - Monthly information on number of shares and voting rights Monthly information on number of shares and voting rights of Quadient S.A. In accordance with article 223.11 of Autorité des Marchés Financiers’ (French Securities and Investment board) General Regulations Ordinary shares - ISIN: FR0000120560 As at 30 April 2024Total number of shares34,468,912Theoretical total number of voting rights34,468,912Net total number of voting rights34,259,216 For more information, please contact: Catherine Hubert-Dorel, Quadient+33 (0)1 45 36 30 56Caroline Baude, Quadient+33 (0)1 45 36 31...
EQS-News: Siltronic AG / Key word(s): AGM/EGM Annual General Meeting approves dividend of EUR 1.20 per share 13.05.2024 / 15:36 CET/CEST The issuer is solely responsible for the content of this announcement. Press release Siltronic AG Einsteinstraße 172 81677 Munich Annual General Meeting approves dividend of EUR 1.20 per share Munich, May 13, 2024 – At today's Annual General Meeting of Siltronic AG, the Executive Board and Supervisory Board looked back on a challenging financial year 2023. The continued weak demand, mainly due to increased inventories and the associ...
EQS-News: Siltronic AG / Schlagwort(e): Hauptversammlung Hauptversammlung beschließt Dividende von EUR 1,20 je Aktie 13.05.2024 / 15:36 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Pressemitteilung Siltronic AG Einsteinstraße 172 81677 München Hauptversammlung beschließt Dividende von EUR 1,20 je Aktie München, 13. Mai 2024 – Auf der ordentlichen Hauptversammlung der Siltronic AG am heutigen Tag blicken Vorstand und Aufsichtsrat auf ein herausforderndes Geschäftsjahr 2023 zurück. Die anhaltende Nachfrageschwäche, vor allem bedi...
Quadient Secures Significant Contracts with Healthcare Leaders in the USA Paris Quadient (Euronext Paris: QDT), a leader in helping businesses create meaningful customer connections through digital and physical channels, announces the signing of significant contracts in the first quarter of the 2024 fiscal year for its Intelligent Communication Automation software solutions in the U.S. healthcare sector. These agreements, collectively valued at nearly 4.5 million euros through multi-year subscription contracts, attest to Quadient's continued success in the customer communications managemen...
Quadient décroche des contrats majeurs avec des leaders du secteur de la santé aux États-Unis Paris Quadient (Euronext Paris : QDT), un leader des solutions d’entreprise visant à faire de chaque interaction client – via un canal physique ou digital – une expérience riche et personnalisée, annonce la signature de plusieurs contrats majeurs pour ses solutions logicielles d'Automatisation Intelligente des Communications avec des acteurs majeurs du secteur de la santé aux États-Unis. Ces accords, évalués collectivement à environ 4,5 millions d’euros sur des contrats pluriannuels, témoignent du...
Standard Chartered Bank (Singapore) to debut in covered bonds. BBVA rules out raising its bid for Sabadell, a clear negative for Sabadell spread performance in a short term. BoE policymaker stresses that AI could pose risks to financial stability
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