reports
- Olfa Taamallah
- Yan Derocles
ODDO BHF Small & MIDCAP MORNING NEWS - 09/26/2024
tonies is a pioneer in the children’s audio entertainment and educational industry, offering a screen-free and interactive listening experience (stories and music) through its Toniebox and Tonies figurines. With a proven track record of rapid international growth, portfolio expansion and strong brand recognition mainly in the DACH region (Germany, Austria and Switzerland) and North America, we see in the coming years: 1/ further strong revenue increases (CAGR 2024-2026e of 25%) with a...
RR. ROLLS-ROYCE HOLDINGS PLC
ETL EUTELSAT COMMUNICATIONS SA
SESGL SES SA FDR (CLASS A)
PROX PROXIMUS SA DE DROIT PUBLIC
KPN ROYAL KPN NV
MTX MTU AERO ENGINES AG
ORA ORANGE SA
HO THALES SA
EN BOUYGUES SA
SDG SYNERGIE SA
INF INFOTEL SA
FGA FIGEAC AERO SA
UTDI UNITED INTERNET AG
RHM RHEINMETALL AG
BEN BENETEAU SA
GAMA GAMMA COMMUNICATIONS
FII LISI SA
GBT GUERBET SA
GOE GROUPE GORGE SA
SAF SAFRAN S.A.
AIR AIRBUS SE
DTE DEUTSCHE TELEKOM AG
BA. BAE SYSTEMS PLC
VRNL VERNEUIL PARTICIPATIONS
MONT MONTEA SCA
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
AXS ACCSYS TECHNOLOGIES
CLNX CELLNEX TELECOM S.A.
HBH HORNBACH HOLDING AG & CO. KGAA
FNTN FREENET AG
LDO LEONARDO SPA
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
HAG HENSOLDT AG
AERO MONTANA AEROSPACE AG
AM DASSAULT AVIATION
ALVGO VOGO SA
LAT LATECOERE
R3NK RENK GROUP AG
ARVEN ARVERNE GROUP SA
- Olfa Taamallah
- Yan Derocles
ODDO BHF Small & MIDCAP MORNING NEWS - 26/09/2024
tonies is a pioneer in the children’s audio entertainment and educational industry, offering a screen-free and interactive listening experience (stories and music) through its Toniebox and Tonies figurines. With a proven track record of rapid international growth, portfolio expansion and strong brand recognition mainly in the DACH region (Germany, Austria and Switzerland) and North America, we see in the coming years: 1/ further strong revenue increases (CAGR 2024-2026e of 25%) with a...
RR. ROLLS-ROYCE HOLDINGS PLC
ETL EUTELSAT COMMUNICATIONS SA
SESGL SES SA FDR (CLASS A)
PROX PROXIMUS SA DE DROIT PUBLIC
KPN ROYAL KPN NV
MTX MTU AERO ENGINES AG
ORA ORANGE SA
HO THALES SA
EN BOUYGUES SA
SDG SYNERGIE SA
INF INFOTEL SA
FGA FIGEAC AERO SA
UTDI UNITED INTERNET AG
RHM RHEINMETALL AG
BEN BENETEAU SA
GAMA GAMMA COMMUNICATIONS
FII LISI SA
GBT GUERBET SA
GOE GROUPE GORGE SA
SAF SAFRAN S.A.
AIR AIRBUS SE
DTE DEUTSCHE TELEKOM AG
BA. BAE SYSTEMS PLC
VRNL VERNEUIL PARTICIPATIONS
MONT MONTEA SCA
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
AXS ACCSYS TECHNOLOGIES
CLNX CELLNEX TELECOM S.A.
HBH HORNBACH HOLDING AG & CO. KGAA
FNTN FREENET AG
LDO LEONARDO SPA
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
HAG HENSOLDT AG
AERO MONTANA AEROSPACE AG
AM DASSAULT AVIATION
ALVGO VOGO SA
LAT LATECOERE
R3NK RENK GROUP AG
ARVEN ARVERNE GROUP SA
- Amira Manai
- Aurelien Sivignon
Vogo : Improved profitability in H1 2024, as expected
>EBITDA breakeven at € 0.4m (vs € 0.3m est.) - For H1 2024, yesterday evening Vogo published results in line with our forecasts. For sales (already published) growth of 26% to € 5.7m, group profitability improved significantly, as expected, with EBITDA moving into positive territory at € 0.4m (vs € 0.3m est. and -€ 0.7m in H1 2023). This improvement is mainly linked to: i/ the contribution from the Taas model which underpinned sales growth but also the improvement in ...
- Amira Manai
- Aurelien Sivignon
Vogo : Amélioration de la rentabilité au S1 2024 comme attendu
>EBITDA breakeven à 0.4 M€ (vs 0.3 M€e) - Au titre du S1 2024, Vogo a publié hier soir des résultats en ligne nos attentes. Pour un CA déjà publié en croissance de 26% à 5.7 M€, la rentabilité du groupe s’est nettement améliorée comme attendu avec un EBITDA qui passe en territoire positif à 0.4 M€ (vs 0.3 M€e et -0.7 M€ au S1 2023). Cette amélioration est liée principalement à : i/ la contribution du modèle Taas soutenant la croissance de l’activité mais également la ...
- Jerôme Bodin
IPS IPSOS
SOP SOPRA STERIA GROUP SA
ROG ROCHE HOLDING LTD
EO FAURECIA SA
NOVN NOVARTIS AG
CEN GROUPE CRIT SA
SDG SYNERGIE SA
MERY MERCIALYS SA
VIV VIVENDI SE
AUB AUBAY SA
NRG NRJ GROUP SA
FNAC FNAC DARTY SA
HOT HOCHTIEF AG
ACX ACERINOX SA
BAMNB KONINKLIJKE BAM GROEP NV
SAN SANOFI
ELIS ELIS SA
MAREL MAREL HF.
VASTN VASTNED RETAIL NV
VID VIDRALA SA
AIXA AIXTRON SE
ARCAD ARCADIS NV
ALVIV VISIATIV SA
AALB AALBERTS N.V.
CARM CARMILA SAS
LOG COMPANIA DE DISTRIBUCION INTEGRAL LOGISTA HOLDINGS S.A.
WAF SILTRONIC AG
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
ARG ARGAN SA
SIFG SIF HOLDING NV
ASS APPLUS SERVICES S.A.
VLTSA VOLTALIA
AZN ASTRAZENECA PLC
ECONT ECONOCOM GROUP SE CLASS D
BFSA BEFESA SA
PWG PRODWAYS GROUP SA
VOS VOSSLOH AG
WAVE WAVESTONE SA
S30 SOLUTIONS 30 SE
VRLA VERALLIA SAS
TCH TECHNICOLOR SA
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
FUR FUGRO NV
FORSE FORSEE POWER SA
MTRK MOTORK LTD
ALVGO VOGO SA
IVG IVECO GROUP
SPM SAIPEM S.P.A.
GSK GSK PLC
AF AIR FRANCE - KLM
NOVO B NOVO NORDISK A/S
- Jerôme Bodin
IPS IPSOS
SOP SOPRA STERIA GROUP SA
ROG ROCHE HOLDING LTD
EO FAURECIA SA
NOVN NOVARTIS AG
CEN GROUPE CRIT SA
SDG SYNERGIE SA
MERY MERCIALYS SA
VIV VIVENDI SE
AUB AUBAY SA
NRG NRJ GROUP SA
FNAC FNAC DARTY SA
HOT HOCHTIEF AG
ACX ACERINOX SA
BAMNB KONINKLIJKE BAM GROEP NV
SAN SANOFI
ELIS ELIS SA
MAREL MAREL HF.
VASTN VASTNED RETAIL NV
VID VIDRALA SA
AIXA AIXTRON SE
ARCAD ARCADIS NV
ALVIV VISIATIV SA
AALB AALBERTS N.V.
CARM CARMILA SAS
LOG COMPANIA DE DISTRIBUCION INTEGRAL LOGISTA HOLDINGS S.A.
WAF SILTRONIC AG
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
ARG ARGAN SA
SIFG SIF HOLDING NV
ASS APPLUS SERVICES S.A.
VLTSA VOLTALIA
AZN ASTRAZENECA PLC
ECONT ECONOCOM GROUP SE CLASS D
BFSA BEFESA SA
PWG PRODWAYS GROUP SA
VOS VOSSLOH AG
WAVE WAVESTONE SA
S30 SOLUTIONS 30 SE
VRLA VERALLIA SAS
TCH TECHNICOLOR SA
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
FUR FUGRO NV
FORSE FORSEE POWER SA
MTRK MOTORK LTD
ALVGO VOGO SA
IVG IVECO GROUP
SPM SAIPEM S.P.A.
GSK GSK PLC
AF AIR FRANCE - KLM
NOVO B NOVO NORDISK A/S
- Amira Manai
- Aurelien Sivignon
Vogo : H1 sales below forecasts – TP adjusted to € 3.8
>H1 sales up 26% to € 5.7m (vs. +47%e to € 6.6m est.) – No indication of new order levels. - Vogo has reported H1 2024 sales below our forecast. Despite 26% yoy growth in sales over the half-year period to € 5.7m, the level was below our forecast for 47% growth to € 6.6m. The Sport division (86% of H1 sales) continued to drive growth with a 30% yoy increase in sales to €4.9m (vs. +50%e to € 5.6m est.) benefiting from the transformation of the model to TaaS and FIFA ...
- Amira Manai
- Aurelien Sivignon
Vogo : CA S1 inférieur aux attentes – OC ajusté à 3.8 €
>CA S1 en croissance de 26% à 5.7 M€ (vs +47%e 6.6 M€e) – Pas d’indication sur le niveau des prises de commandes - Au titre du S1 2024, Vogo a publié hier soir des revenues en dessous de nos attentes. Malgré la progression du CA sur le semestre de 26% yoy à 5.7 M€, ce niveau reste inférieur à notre attente de +47%e à 6.6 M€e. La division Sport (86% du CA S1) reste le principal soutien à la croissance avec une progression de 30% yoy à 4.9 M€ (vs +50%e à 5.6 M€e) bénéfi...
- Jeremy Garnier
ODDO : ODDO BHF Nextcap Forum: Feedback from day three
>Feedback from 52 companies present on day three - Our 13th edition of the ODDO BHF Nextcap Forum takes place on June 4 and 5 in Paris, and on June 6 virtually. Following the third day, which took place yesterday virtually at our Paris office with 52 companies in attendance, we publish hereafter feedback for those companies present:Aedas HomesLhyfeAfyrenMaisons Du MondeAltamirMcPhy EnergyAltriMister SpexAtresmediaNein...
A1XEH4 CROSSJECT SA
TNG TRANSGENE SA
FGA FIGEAC AERO SA
BLC BASTIDE LE CONFORT MEDICAL SA
KCO KLOECKNER & CO SE
ALTR ALTRI SGPS SA
SWP SWORD GROUP SE
SRP SRP GROUPE SA
AUB AUBAY SA
NTG NETGEM SA
VLS VALNEVA SE
LNA LNA SANTE SA
KOF KAUFMAN & BROAD SA
FNAC FNAC DARTY SA
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
BAMNB KONINKLIJKE BAM GROEP NV
IDIP INSTITUT DE DEVELOPPEMENT INDUSTRIEL SCA
GREEN GREENYARD NV
MCPHY MCPHY ENERGY SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
ENC ENCE ENERGIA Y CELULOSA SA
LTA ALTAMIR ACT PORTEUR
INSD VERIMATRIX SA
SIFG SIF HOLDING NV
LRE LAR ESPANA REAL ESTATE SOCIMI SA
VLTSA VOLTALIA
HBH HORNBACH HOLDING AG & CO. KGAA
FFARM FORFARMERS
TRE TECNICAS REUNIDAS SA
PSG PROSEGUR COMPANIA DE SEGURIDAD SA
HOME NEINOR HOMES SA
MDM MAISONS DU MONDE SA
SMCP SMCP SA
AVTX AVANTIUM NV
RBO ROCHE BOBOIS INTERNATIONAL SAS
ALKAL KALRAY SA
AEDAS AEDAS HOMES SA
WAVE WAVESTONE SA
GRE GRENERGY RENOVABLES
THEP THERMADOR HOLDING SA
ALCUR ARCURE SA
TOM2 TOMTOM NV
CLA CLARANOVA SE
S30 SOLUTIONS 30 SE
ZEL PHARMA MAR SA
SOL SOLTEC POWER HOLDINGS
BLV BELIEVE SA
MRX MISTER SPEX SE
ALAFY AFYREN
FORSE FORSEE POWER SA
HDF HYDROGENE DE FRANCE
ALVGO VOGO SA
WAGA WAGA ENERGY SA
ALHAF HAFFNER ENERGY SA
EAPI EUROAPI
GVOLT GREENVOLT - ENERGIAS RENOVAVEIS S.A.
LHYFE LHYFE S.A.
- Jeremy Garnier
ODDO : ODDO BHF Nextcap Forum : Feedbacks 3ème journée
>Feedback de 52 sociétés présentes le 3ème jour - Notre 13ème édition du ODDO BHF Nextcap Forum a lieu les 4 et 5 juin en physique à Paris et le 6 juin en virtuel. Suite à la troisième journée qui a eu lieu hier en virtuel avec 53 de sociétés présentes, nous publions ci-après un feedback pour chacune des sociétés couvertes :Aedas HomesLhyfeAfyrenMaisons Du MondeAltamirMcphy EnergyAltriMister SpexAtresmediaNeinor Homes§...
TNG TRANSGENE SA
INF INFOTEL SA
FGA FIGEAC AERO SA
BLC BASTIDE LE CONFORT MEDICAL SA
KCO KLOECKNER & CO SE
ALTR ALTRI SGPS SA
SWP SWORD GROUP SE
SRP SRP GROUPE SA
AUB AUBAY SA
NTG NETGEM SA
VLS VALNEVA SE
LNA LNA SANTE SA
KOF KAUFMAN & BROAD SA
FNAC FNAC DARTY SA
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
BAMNB KONINKLIJKE BAM GROEP NV
IDIP INSTITUT DE DEVELOPPEMENT INDUSTRIEL SCA
GREEN GREENYARD NV
MCPHY MCPHY ENERGY SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
ENC ENCE ENERGIA Y CELULOSA SA
LTA ALTAMIR ACT PORTEUR
INSD VERIMATRIX SA
SIFG SIF HOLDING NV
LRE LAR ESPANA REAL ESTATE SOCIMI SA
VLTSA VOLTALIA
HBH HORNBACH HOLDING AG & CO. KGAA
FFARM FORFARMERS
TRE TECNICAS REUNIDAS SA
PSG PROSEGUR COMPANIA DE SEGURIDAD SA
HOME NEINOR HOMES SA
MDM MAISONS DU MONDE SA
SMCP SMCP SA
AVTX AVANTIUM NV
RBO ROCHE BOBOIS INTERNATIONAL SAS
ALKAL KALRAY SA
AEDAS AEDAS HOMES SA
WAVE WAVESTONE SA
GRE GRENERGY RENOVABLES
THEP THERMADOR HOLDING SA
ALCUR ARCURE SA
TOM2 TOMTOM NV
CLA CLARANOVA SE
S30 SOLUTIONS 30 SE
ZEL PHARMA MAR SA
SOL SOLTEC POWER HOLDINGS
BLV BELIEVE SA
MRX MISTER SPEX SE
ALAFY AFYREN
FORSE FORSEE POWER SA
ALVGO VOGO SA
WAGA WAGA ENERGY SA
ALHAF HAFFNER ENERGY SA
EAPI EUROAPI
GVOLT GREENVOLT - ENERGIAS RENOVAVEIS S.A.
LHYFE LHYFE S.A.
- Gerardo Ibanez
- Steven Boumans
ODDO BHF Small & MIDCAP MORNING NEWS - 05/08/2024 Date Performance sin...
Unifiedpost is a niche SaaS player in the e-invoicing and procurement channel space. Regulatory headwinds mean this market is ripe for growth, which should benefit Unifiedpost. Due to some unsuccessful past M&A, the company is in a challenging financial position today. However, it has recently embarked on a divestment path, aiming to streamline the business and improve its fundamentals. We like the new direction, however prefer to take a wait-and-see approach. - ...
OUT1V OUTOKUMPU OYJ
ZIL2 ELRINGKLINGER AG
SBMO SBM OFFSHORE NV
EURN EURONAV NV
LEI LEIFHEIT AG
LXS LANXESS AG
KCO KLOECKNER & CO SE
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
MAREL MAREL HF.
NDA AURUBIS AG
MONT MONTEA SCA
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
TLGO TALGO SA
RUI RUBIS SCA
B4B METRO AG
S92 SMA SOLAR TECHNOLOGY AG
INS INSTONE REAL ESTATE GROUP AG
JEN JENOPTIK AG
CLA CLARANOVA SE
HAG HENSOLDT AG
COP COMPUGROUP MEDICAL SE & CO. KGAA
KTA KNAUS TABBERT
SFQ SAF-HOLLAND SE
AERO MONTANA AEROSPACE AG
YOU ABOUT YOU HLDG AG
SYAB SYNLAB AG
ALVGO VOGO SA
STM STABILUS SE
- Gerardo Ibanez
- Steven Boumans
ODDO BHF Small & MIDCAP MORNING NEWS - 08/05/2024 Date Performance dep...
Unifiedpost is a niche SaaS player in the e-invoicing and procurement channel space. Regulatory headwinds mean this market is ripe for growth, which should benefit Unifiedpost. Due to some unsuccessful past M&A, the company is in a challenging financial position today. However, it has recently embarked on a divestment path, aiming to streamline the business and improve its fundamentals. We like the new direction, however prefer to take a wait-and-see approach. - ...
OUT1V OUTOKUMPU OYJ
ZIL2 ELRINGKLINGER AG
SBMO SBM OFFSHORE NV
EURN EURONAV NV
LEI LEIFHEIT AG
LXS LANXESS AG
KCO KLOECKNER & CO SE
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
MAREL MAREL HF.
NDA AURUBIS AG
MONT MONTEA SCA
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
TLGO TALGO SA
RUI RUBIS SCA
B4B METRO AG
S92 SMA SOLAR TECHNOLOGY AG
INS INSTONE REAL ESTATE GROUP AG
JEN JENOPTIK AG
CLA CLARANOVA SE
HAG HENSOLDT AG
COP COMPUGROUP MEDICAL SE & CO. KGAA
KTA KNAUS TABBERT
SFQ SAF-HOLLAND SE
AERO MONTANA AEROSPACE AG
YOU ABOUT YOU HLDG AG
SYAB SYNLAB AG
ALVGO VOGO SA
STM STABILUS SE
- Amira Manai
- Aurelien Sivignon
Vogo : Capital increase finalised for an amount of € 4.25m – TP automa...
>Capital increase of € 4.25m in the end - Vogo announced yesterday the finalisation of its capital increase open from 18 April to 2 May with maintenance of preferential subscription rights. On completion of this transaction, the company raised a gross € 4.25m through the issue of 1.05m new shares. The subscription price was € 4.04 per share, a discount of 17% to the closing price before the launch of the operation (10 April). The amount raised was slightly below the ...
- Amira Manai
- Aurelien Sivignon
Vogo : AK finalisée pour un montant de 4.25 M€ - OC mécaniquement ajus...
>AK de 4.25 M€ finalement - Vogo a annoncé hier la finalisation de son augmentation de capital ouverte du 18 avril au 2 mai, avec maintien du DPS. Au cours de cette opération, la société a pu lever finalement 4.25 M€ brut à travers l’émission de 1.05m d’actions nouvelles. Le prix de souscription était de 4.04 € par action, traduisant une décote de 17% sur le cours de clôture de la veille du lancement de l’opération (10 avril). Le montant levé est donc légèrement en d...
- Ahmed Ben Salem
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
ENI ENI S.P.A.
REP REPSOL SA
MBWS MARIE BRIZARD WINE & SPIRITS SA
VIS VISCOFAN S.A.
SLIGR SLIGRO FOOD GROUP N.V.
CARM CARMILA SAS
INSD VERIMATRIX SA
CSM CORBION NV
BP. BP P.L.C.
NSI NSI N.V.
FPE3 FUCHS PETROLUB SE
ALVGO VOGO SA
SHEL SHELL PLC
CABKA CABKA N.V.
- Ahmed Ben Salem
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
ENI ENI S.P.A.
REP REPSOL SA
MBWS MARIE BRIZARD WINE & SPIRITS SA
VIS VISCOFAN S.A.
SLIGR SLIGRO FOOD GROUP N.V.
CARM CARMILA SAS
INSD VERIMATRIX SA
CSM CORBION NV
BP. BP P.L.C.
NSI NSI N.V.
FPE3 FUCHS PETROLUB SE
ALVGO VOGO SA
SHEL SHELL PLC
CABKA CABKA N.V.
- Amira Manai
- Aurelien Sivignon
Vogo : Analyst meeting feedback: no breaking news, but an encouraging ...
>A transitional year impacted by the transformation of the model - The analyst meeting organised yesterday was an opportunity for management to review the 2023 annual results published on 10 April: Sales down 20% to € 9.6m mainly impacted by the transition to the new Taas model which is marked by rental contracts (hardware, software and services) over a period of 3 to 5 years compared to direct sales previously.EBITDA which has returned to negative territory...
- Amira Manai
- Aurelien Sivignon
Vogo : Feedback SFAF : pas de breaking news, mais confirmation de pers...
>Un exercice de transition impacté par la transformation du modèle - La réunion SFAF organisée hier était l’occasion pour le management de revenir sur les résultats annuels 2023 publiés le 10 avril : Un CA en baisse de 20% à 9.6 M€ impacté principalement par la transition au nouveau modèle Taas qui se caractérise par des contrats de location (matériels, logiciels et prestations) sur une période de 3 à 5 ans contre des ventes directes auparavant.Un EBITDA qui...
- Oliver Metzger
ODDO BHF Small & MIDCAP MORNING NEWS - 04/11/2024
Waga Energy offers an innovative start-up profile in the utilities sector: i/ disruptive technology in biogas treatment, ii/ established competitive advantages, iii/ positioning on a market with strong potential (>20,000 landfills) and iv/ a robust business model based on recurring revenues. At its CMD in February 2024, the company reconfirmed its ambitions for 2026 set out at the IPO (contracts for 4 TWh and recurring revenues of € 200m). The financing secured in Q1 2024 (€ 112m base...
- Amira Manai
- Aurelien Sivignon
Vogo : Earnings impacted by the model transition, but should improve i...
>Profitability falls back into negative territory in 2023 - Vogo reported yesterday evening its FY results. The revenues had been reported in February and were down 20% y-o-y at € 9.6m, impacted by the transition of the model towards TaaS. Despite strong opex control (-3% y-o-y), EBITDA has been fallen back into negative territory at -€ 0.5m (vs -€ 0.4m est.) after having reached breakeven in 2022 (€ 0.1m). The EBIT loss deepened to -€ 2.2m (vs -€ 1.4m est. vs -€ 1.2m...
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