Credit Morning 11/21/2025

Tereos : -66% EBITDA in H1 25/26 and expected leverage slippage to 6x in March 2026|Ubisoft: net bookings above expectations in Q2 2025/26. The group breached covenants of certain debt, some of which will be repaid using proceeds from the closing of the JV with Tencent|Orange/Iliad/Bouygues are reportedly mulling a wider offer for SFR (Financial Times)|

Morning Crédit 21/11/2025

Tereos : Résultats S1 25/26 : -66% d’EBITDA au S1 25/26 et dérapage attendu du levier à 6x en mars 2026|Ubisoft (UBIFP, non noté) : net bookings supérieurs aux attentes au T2 2025/26, la guidance annuelle est confirmée. Le groupe a brisé les covenants de certaines dettes qui seront remboursées grâce aux produits de la finalisation de la JV avec Tencent.|Orange/Iliad/Bouygues envisageraient une offre élargie sur SFR (Financial Times)|

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 11/19/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 19/11/2025

Solaria : Objectif lune !

Solaria : Aiming for the moon!

Credit Morning 11/18/2025

Celanese: CFR downgraded by S&P, with the outlook still negative|Eroski announces refinancing plan including new offering of 2031 notes|Altice International: exclusive talks for the sale of Hot Mobile for NIS 2.1bn (€ 561m)|Crédit Agricole S.A. unveils its strategic plan ACT 2028|

Morning Crédit 18/11/2025

Celanese: CFR downgraded by S&P, with the outlook still negative|Eroski annonce un plan de refinancement comportant une nouvelle émission obligataire 2031|Altice International : négociations exclusives pour la vente de Hot Mobile pour 2,1 mds NIS (561 m EUR)|Crédit Agricole présente ce matin son nouveau plan stratégique 2028|

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 11/18/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 18/11/2025

INFORME DIARIO 18 NOVIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACERINOX, SECTOR ELÉCTRICO, SOLARIA. EUROPA: SOCIÉTÉ GÉNÉRALE. Las bolsas siguen dudando de las valoraciones en torno a la IA La semana comenzó con descensos, tal y como terminó la anterior, lastrada por la incertidumbre sobre la decisión de tipos de la Fed en diciembre y por el creciente temor a una burbuja en torno a la inteligencia artificial. El Ibex 35 acumuló su tercera sesión consecutiva de caídas y perdió los 16.200 puntos. En el STOXX 600, ...

Solaria : Le ciel est la limite… mais on peut viser la lune

Solaria : The sky's the limit... but we can aim for the moon

IBERIAN DAILY 18 NOVEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ACERINOX, ELECTRICITY SECTOR, SOLARIA. Valuations on AI continue to raise doubts on stock markets The week kicked off with drops (as the previous one ended), dragged down by the uncertainty surrounding the Fed’s decision on rates in December and by the growing fear of an AI bubble. The IBEX 35 fell for the third straight day, closing below 16,200. In the STOXX 600, most sectors ended with drops, led by Retail and Chemicals, whereas Utilities and Energy ended as the best relative p...

SOLARIA: 3Q’25 RESULTS (ANÁLISIS BANCO SABADELL)

3Q'25 vs. 3Q'24 Results Sales: € 103.8 M (+74.4% vs. -3.1% BS(e)); EBITDA: € 90.57 M (+91.6% vs. -2.5% BS(e)); 9M'25 vs. 9M'24 Results Sales: € 224.32 M (+42.5% vs. +35.2% BS(e)); EBITDA: € 230.67 M (+75.3% vs. +41.5% BS(e));

SOLARIA: RDOS. 3T'25 (ANÁLISIS BANCO SABADELL)

Rdos. 3T'25 vs 3T'24: Ventas: 103,8 M euros (+74,4% vs -3,1% BS(e)); EBITDA: 90,57 M euros (+91,6% vs -2,5% BS(e)). Rdos. 9meses'25 vs 9meses'24: Ventas: 224,32 M euros (+42,5% vs +35,2% BS(e)); EBITDA: 230,67 M euros (+75,3% vs +41,5% BS(e)).

Morning Crédit 14/11/2025

Ubisoft reporte la publication de ses résultats au S1 2025-26|Lufthansa: Germany heading towards a more favorable regulatory framework|

Credit Morning 11/14/2025

Ubisoft postpones the release of its H1 2025-26 results|Lufthansa: Germany heading towards a more favorable regulatory framework|