reports
- Carole Braudeau
- Carole Braudeau
- Carole Braudeau
Credit Morning 11/20/2024
Grifols: the board considers that Brookfield’s indicative price undervalues the company Teva: S&P upgrades the rating to BB/positive from BB/positiveElior: Results recovered in 2023-24, exceeding expectations. Debt reduction is making headway as planned.Tereos: Sharp decline in EBITDA in Q2 24/25. The financial position is stable thanks to the generation of FCF.>...
- Carole Braudeau
Morning Crédit 20/11/2024
Grifols : le conseil d’administration estime que le prix indicatif proposé par Brookfield sous-évalue la sociétéTeva: S&P upgrades the rating to BB/positive from BB/positiveElior: les résultats se sont redressés 2023/24, dépassant les attentes. Le désendettement progresse comme prévu.Tereos : fort repli de l'EBITDA au T2 24/25. La situation financière est stable grâce à la génération de FCF.>...
Bayer AG: 1 director
A director at Bayer AG bought 11,278 shares at 20.745EUR and the significance rating of the trade was 73/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly show...
Brenntag SE: 1 director
A director at Brenntag SE bought 7,000 shares at 57.369EUR and the significance rating of the trade was 89/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly sh...
- Carole Braudeau
- Carole Braudeau
- Anne-Barbara Nicco
Fnac Darty : Credit update following successful takeover bid for Unieu...
Fnac Darty has announced the success of its takeover bid for Italy's Unieuro. The deal is expected to strengthen the group's operating profile with limited financial impact. Shortly beforehand, the group also raised its 2024 current operating profit target, which should ultimately be slightly higher than the low point in 2023. In this new report, we review our recommendations in the light of current bond yields, the performance of the 2024 financial year which will soon draw to a...
- Anne-Barbara Nicco
Fnac Darty : Update sur le crédit après le succès de l’OPA sur Unieuro
Fnac Darty vient d’annoncer le succès de son offre d’achat sur le groupe italien Unieuro. L’opération devrait renforcer le profil opérationnel du groupe pour un impact financier limité. Peu de temps auparavant, le groupe avait, en outre, relevé son objectif de ROC 2024, qui devrait in fine être un peu supérieur au point bas de 2023. Dans cette nouvelle étude, nous passons en revue nos recommandations à la lumière des rendements obligataires actuels, des performances de l’exercice...
- Carole Braudeau
- Carole Braudeau
Fnac Darty and Ruby successfully reach 91.1% of the share capital of U...
Fnac Darty and Ruby successfully reach 91.1% of the share capital of Unieuro, which will be delisted - final results PRESS RELEASEIvry-sur-Seine, France — November 12, 2024, 5:45 pm CEST THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS PRESS RELEASE IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IS NOT PERMITTED IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR ANY OTHER COUNTRY WHERE SUCH COMMUNICATION WOULD VIOLATE THE RELEVANT APPLICABLE REGULATION FINAL RESULTS OF THE REOPENING OF THE TENDER PERIOD FNAC DARTY AND RUBY SECURE 91.15% OF THE SHARE CAPITAL OF UNIEURO, W...
Fnac Darty e Ruby raggiungono con successo il 91,1% del capitale socia...
Fnac Darty e Ruby raggiungono con successo il 91,1% del capitale sociale di Unieuro, le cui azioni saranno revocate dalla quotazione - risultati definitivi COMUNICATO STAMPAIvry-sur-Seine, Francia —15 novembre 2024, 5:45 CEST È VIETATA LA DIVULGAZIONE, LA PUBBLICAZIONE O LA DISTRIBUZIONE DEL PRESENTE COMUNICATO, IN TUTTO O IN PARTE, IN O VERSO GLI STATI UNITI D’AMERICA, L’AUSTRALIA, IL CANADA, IL GIAPPONE O QUALSIASI ALTRO PAESE IN CUI TALE COMUNICAZIONE VIOLEREBBE LA NORMATIVA APPLICABILE RISULTATI FINALI DELLA RIAPERTURA DEI TERMINI FNAC DARTY E RUBY SI ASSICURANO IL 91,15% DEL CAPITA...
- Christophe-Raphaël Ganet
- Fehmi Ben Naamane
- Marc Lavaud
TEMN TEMENOS AG
ZIL2 ELRINGKLINGER AG
UTDI UNITED INTERNET AG
ELG ELMOS SEMICONDUCTOR SE
BOSS HUGO BOSS AG
TPE PVA TEPLA AG
ERA ERAMET SA
SIX2 SIXT SE
COK CANCOM SE
KENDR KENDRION NV
TWEKA TKH GROUP N.V. CERT
NHH NH HOTEL GROUP SA
ALM ALMIRALL SA
JUN3 JUNGHEINRICH AG PREF
JEN JENOPTIK AG
SFQ SAF-HOLLAND SE
RWI RENEWI PLC
FORSE FORSEE POWER SA
- Stephane Beyazian
Vodafone : Better FCF in H1 2025 but record low in Germany
>H1 2025 EBITDA in line with expectations - Q2 2025 group sales were up 4.6% y-o-y to € 9,240m, above expectations (consensus € 9,071m, ODDO BHF € 9,226m), and still helped by hyperinflation in Turkey (sales +89% y-o-y). H1 2025 EBITDAaL was up 2.5% y-o-y to € 2,730m. The targets for 2025 were confirmed (as expected): Vodafone is targeting adjusted pro forma EBITDAaL of € 11bn and adjusted FCF of at least € 2.4bn (consensus: € 2.47bn). These pro forma targets are...
- Christophe-Raphaël Ganet
- Marc Lavaud
- Martin Marandon-Carlhian
- Stephane Houri
- Christophe-Raphaël Ganet
- Fehmi Ben Naamane
- Marc Lavaud
TEMN TEMENOS AG
ZIL2 ELRINGKLINGER AG
UTDI UNITED INTERNET AG
ELG ELMOS SEMICONDUCTOR SE
BOSS HUGO BOSS AG
TPE PVA TEPLA AG
ERA ERAMET SA
SIX2 SIXT SE
COK CANCOM SE
KENDR KENDRION NV
TWEKA TKH GROUP N.V. CERT
NHH NH HOTEL GROUP SA
ALM ALMIRALL SA
JUN3 JUNGHEINRICH AG PREF
JEN JENOPTIK AG
SFQ SAF-HOLLAND SE
RWI RENEWI PLC
FORSE FORSEE POWER SA
- Christophe-Raphaël Ganet
- Marc Lavaud
- Martin Marandon-Carlhian
- Stephane Houri
- Stephane Beyazian
Vodafone : Better FCF in H1 2025 but record low in Germany
>H1 2025 EBITDA in line with expectations - Q2 2025 group sales were up 4.6% y-o-y to € 9,240m, above expectations (consensus € 9,071m, ODDO BHF € 9,226m), and still helped by hyperinflation in Turkey (sales +89% y-o-y). H1 2025 EBITDAaL was up 2.5% y-o-y to € 2,730m. The targets for 2025 were confirmed (as expected): Vodafone is targeting adjusted pro forma EBITDAaL of € 11bn and adjusted FCF of at least € 2.4bn (consensus: € 2.47bn). These pro forma targets are...
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