reports
- Anthony Dick
- Michael Foundoukidis
Valeo : No major surprises in Q1 release
>Q1 in line despite weakness in EVs, H1 expected to be weaker than H2 - Valeo yesterday evening reported Q1 2024 sales of € 5,427m, down 1% as reported (+2% on an organic basis), in line with expectations (€ 5,410m). In the original equipment segment, the outperformance was only 2 points (vs c.4 points for Forvia and OPM), mainly due to the weakness of the High Voltage Electrification business (sales halved). Other than that, the full-year guidance has been confirmed,...
- Anthony Dick
- Michael Foundoukidis
Valeo : Une publication sans grande surprise
>T1 en ligne malgré la faiblesse de l’électrique, le S1 attendu plus faible que le S2 - Valeo a publié, hier soir, un CA T1 2024 de 5 427 M€, en baisse de 1% en publié (+2% en organique), en ligne avec les attentes (5 410 M€). En première monte, la surperformance n’est ressortie qu’à +2 pts (vs ~4 pts pour Forvia et OPM), essentiellement en raison de la faiblesse de l’activité Electrification Haute Tension (CA divisé par deux). Au-delà, les objectifs annuels ont bien ...
Valeo Q1 2024 Sales - First-quarter sales of 5.4 billion euros, up 2% ...
Valeo Q1 2024 Sales - First-quarter sales of 5.4 billion euros, up 2% like for like PARISApril 25, 2024 First-quarter sales of 5.4 billion euros, up 2% like for like2024 and 2025 objectives reaffirmed Sales of 5.4 billion euros, up 2% on a like-for-like basis (LFL) Original equipment sales up 1% LFLOutperformance of 2 percentage points versus automotive production, after a slightly unfavorable geographic mix 7 percentage point outperformance for ADAS, 6 percentage point outperformance for the Visibility Systems Business Group, 4 percentage point outperformance for the Thermal ...
Valeo Chiffre d'affaires du 1er trimestre 2024 - Au 1er trimestre, chi...
Valeo Chiffre d'affaires du 1er trimestre 2024 - Au 1er trimestre, chiffre d’affaires de 5,4 milliards d’euros, en hausse de 2 % à périmètre et taux de change constants PARISLe 25 avril 2024 Au 1er trimestre, chiffre d’affaires de 5,4 milliards d’euros, en hausse de 2 % à périmètre et taux de change constants Objectifs 2024 et 2025 réaffirmés Chiffre d’affaires de 5,4 milliards d’euros, en hausse de 2 % à périmètre et taux de change constants (pcc) Chiffre d’affaires première monte en hausse de 1 % à pccSurperformance de la production automobile de +2 points, après un effet mix géo...
- Carole Braudeau
Credit Morning 04/25/2024
Atos: weak Q1 2024 results, need for fresh funds has already increasedVerisure launches a new term loan; new bonds to followVerallia: Q1 2024 logically weak but the recovery in demand is confirmedAngloAmerican Plc: Takeover offer from BHP Group for the entire share capital>...
CO CASINO GUICHARD-PERRACHON SA
CA CARREFOUR SA
BVI BUREAU VERITAS SA
AAL ANGLO AMERICAN PLC
BNP BNP PARIBAS SA CLASS A
ATO ATOS SE
DBK DEUTSCHE BANK AG
EO FAURECIA SA
FNAC FNAC DARTY SA
ERA ERAMET SA
KGX KION GROUP AG
TIT TELECOM ITALIA S.P.A.
WBD WEBUILD S.P.A.
VLTSA VOLTALIA
SPIE SPIE SA
BHP BHP GROUP LTD
DHER DELIVERY HERO SE
SAB BANCO DE SABADELL SA
HFG HELLOFRESH SE
VRLA VERALLIA SAS
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
ADE ADEVINTA ASA
- Carole Braudeau
Morning Crédit 25/04/2024
Atos : faibles résultats au T1 2024, les besoins de nouveaux fonds a augmentéVerisure lance un nouveau term loan ; des nouvelles obligations suivrontVerallia : T1 2024 logiquement faible mais la reprise de la demande se confirmeAngloAmerican PLC : Offre de rachat sur la totalité du capital par BHP>...
CO CASINO GUICHARD-PERRACHON SA
CA CARREFOUR SA
BVI BUREAU VERITAS SA
AAL ANGLO AMERICAN PLC
BNP BNP PARIBAS SA CLASS A
ATO ATOS SE
DBK DEUTSCHE BANK AG
EO FAURECIA SA
FNAC FNAC DARTY SA
ERA ERAMET SA
KGX KION GROUP AG
TIT TELECOM ITALIA S.P.A.
WBD WEBUILD S.P.A.
VLTSA VOLTALIA
SPIE SPIE SA
BHP BHP GROUP LTD
DHER DELIVERY HERO SE
SAB BANCO DE SABADELL SA
HFG HELLOFRESH SE
VRLA VERALLIA SAS
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
ADE ADEVINTA ASA
- Charlotte Vaisse
- Emmanuel Matot
- Jean-Baptiste Rouphael
- Konrad Zomer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/25/2024
Having flirted with the 495-point mark on Friday, which could have triggered an extension of the correction, the market has rebounded well since then. Our technical analysis highlights a configuration in which we are only at the start of a powerful rally. Target of 622 points for Stoxx 600 index (+11%) by the end of the year confirmed. Prefer banks to insurance companies in the short term. - ...
LHN LAFARGEHOLCIM LTD.
REL RELX PLC
GET GETLINK SE
IPN IPSEN SA
EQNR EQUINOR ASA
WCH WACKER CHEMIE AG
CA CARREFOUR SA
BVI BUREAU VERITAS SA
SU SCHNEIDER ELECTRIC SE
KNEBV KONE OYJ CLASS B
ORA ORANGE SA
RI PERNOD RICARD SA
ULVR UNILEVER PLC
GLE SOCIETE GENERALE S.A. CLASS A
NESN NESTLE S.A.
ENI ENI S.P.A.
BAS BASF SE
SAN SANOFI
VOW3 VOLKSWAGEN AG PREF
SY1 SYMRISE AG
01913 PRADA S.P.A.
REP REPSOL SA
MOCORP METSO OUTOTEC OYJ
KGX KION GROUP AG
MONC MONCLER SPA
ASSA B ASSA ABLOY AB CLASS B
IBE IBERDROLA SA
AZN ASTRAZENECA PLC
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
HFG HELLOFRESH SE
ADYEN ADYEN NV
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
DSY DASSAULT SYSTEMES SA
AZE AZELIS GROUP NV
ATCO A ATLAS COPCO AB
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
DSFIR KONINKLIJKE DSM N.V.
- Charlotte Vaisse
- Emmanuel Matot
- Jean-Baptiste Rouphael
- Konrad Zomer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 25/04/2024
Après avoir frôlé vendredi la barre des 495 points qui aurait pu déclencher la poursuite de la correction, le marché a ensuite bien rebondi. Notre analyse technique met en lumière une configuration où nous ne serions qu’au début d’un rallye puissant. Objectif 622 points (+11%) d’ici à la fin de l’année confirmé sur le Stoxx 600. Préférer les banques aux assurances à court terme. - ...
LHN LAFARGEHOLCIM LTD.
REL RELX PLC
GET GETLINK SE
IPN IPSEN SA
EQNR EQUINOR ASA
WCH WACKER CHEMIE AG
CA CARREFOUR SA
BVI BUREAU VERITAS SA
SU SCHNEIDER ELECTRIC SE
KNEBV KONE OYJ CLASS B
ORA ORANGE SA
RI PERNOD RICARD SA
ULVR UNILEVER PLC
GLE SOCIETE GENERALE S.A. CLASS A
NESN NESTLE S.A.
ENI ENI S.P.A.
BAS BASF SE
SAN SANOFI
VOW3 VOLKSWAGEN AG PREF
SY1 SYMRISE AG
01913 PRADA S.P.A.
REP REPSOL SA
MOCORP METSO OUTOTEC OYJ
KGX KION GROUP AG
MONC MONCLER SPA
ASSA B ASSA ABLOY AB CLASS B
IBE IBERDROLA SA
AZN ASTRAZENECA PLC
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
HFG HELLOFRESH SE
ADYEN ADYEN NV
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
DSY DASSAULT SYSTEMES SA
AZE AZELIS GROUP NV
ATCO A ATLAS COPCO AB
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
DSFIR KONINKLIJKE DSM N.V.
- Anthony Dick
- Michael Foundoukidis
Volkswagen (pref) : China ambitions again reiterated, but still requir...
>Near-term challenges remain, improvement thereafter unlikely to be pencilled in - VW held a CMD in China yesterday (PR link), where the OEM reaffirmed and detailed its "China for China" strategy in the country and its ambitions. In a nutshell, our view would be that there was not much news from VW, with the China story still requiring both a lot of faith and patience. As VW management once again seems to be emphasizing, the next two years (at least) will remain chall...
- Anthony Dick
- Michael Foundoukidis
Volkswagen (pref) : China ambitions again reiterated, but still requir...
>Near-term challenges remain, improvement thereafter unlikely to be pencilled in - VW held a CMD in China yesterday (PR link), where the OEM reaffirmed and detailed its "China for China" strategy in the country and its ambitions. In a nutshell, our view would be that there was not much news from VW, with the China story still requiring both a lot of faith and patience. As VW management once again seems to be emphasizing, the next two years (at least) will remain chall...
FORVIA SUCCESSFULLY PRICES AN ADDITIONAL €200 MILLION OF 5.500% SENIOR...
FORVIA SUCCESSFULLY PRICES AN ADDITIONAL €200 MILLION OF 5.500% SENIOR NOTES DUE 2031 Not for distribution, directly or indirectly, in the United States, Canada, Australia or Japan NANTERRE (FRANCE)APRIL 24, 2024 FORVIA SUCCESSFULLY PRICES AN ADDITIONAL €200 MILLION OF 5.500% SENIOR NOTES DUE 2031 FORVIA has successfully priced its offering of €200 million of additional 5.500% senior notes due 2031 (the “New Notes”). FORVIA priced the New Notes at 101.75% of par, or a yield of 5.20%. The New Notes obtained a credit rating in line with the long-term credit rating of FORVIA (i.e. “BB+” ...
Michelin: Q1 sales down 2.7% at constant exchange rates, on soft volum...
Michelin: Q1 sales down 2.7% at constant exchange rates, on soft volumes as expected. Strong mix development reflecting performance in value-accretive segments. 2024 full-year guidance unchanged. Clermont-Ferrand – April 24, 2024 COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELINFinancial information for the three months ended March 31, 2024 Consolidated first-quarter 2024 sales down 2.7% at constant exchange rates, on soft volumes as expected. Strong mix development reflecting Group performance in the most value-accretive segments. 2024 full-year guidance unchanged. Global sell-in markets e...
- Chaima Ferrandon
- Sven Edelfelt
HEIA HEINEKEN NV
AI AIR LIQUIDE SA
IPN IPSEN SA
DB1 DEUTSCHE BOERSE AG
KNEBV KONE OYJ CLASS B
RNO RENAULT SA
KPN ROYAL KPN NV
COV COVIVIO SA
ROG ROCHE HOLDING LTD
ORA ORANGE SA
SSAB A SSAB AB CLASS A
FGR EIFFAGE SA
KER KERING SA
RAND RANDSTAD NV
ENI ENI S.P.A.
ASM ASM INTERNATIONAL N.V.
ASSA B ASSA ABLOY AB CLASS B
INGA ING GROEP NV
AD KONINKLIJKE AHOLD DELHAIZE N.V.
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
EPI A EPIROC AB
- Jean-François Granjon
VAC PIERRE & VACANCES SA
EVT EVOTEC SE
IDL ID LOGISTICS GROUP
EXE EXEL INDUSTRIES SA
POM PLASTIC OMNIUM SE
WHA WERELDHAVE N.V.
PIG HAULOTTE GROUP SA
CDA COMPAGNIE DES ALPES SA
ALCAR CARMAT SA
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
BB SOCIETE BIC SA
NEX NEXANS SA
CTAC CTAC N.V.
ROYAL VOPAK NV
MMT METROPOLE TELEVISION SA
SEFER SERGEFERRARI GROUP SA
SHOT SCANDIC HOTELS GROUP
MELE MELEXIS NV
ALVDM VOYAGEURS DU MONDE SA
TKO TIKEHAU CAPITAL SCA
ALKAL KALRAY SA
DSC1 DUTCH STAR C SHAR
ZEL PHARMA MAR SA
BAR BARCO NV
OVH OVH GROUPE
FORSE FORSEE POWER SA
SPM SAIPEM S.P.A.
- Chaima Ferrandon
- Sven Edelfelt
AI AIR LIQUIDE SA
IPN IPSEN SA
DB1 DEUTSCHE BOERSE AG
KNEBV KONE OYJ CLASS B
RNO RENAULT SA
KPN ROYAL KPN NV
COV COVIVIO SA
ROG ROCHE HOLDING LTD
ORA ORANGE SA
SSAB A SSAB AB CLASS A
FGR EIFFAGE SA
KER KERING SA
RAND RANDSTAD NV
ENI ENI S.P.A.
ASM ASM INTERNATIONAL N.V.
ASSA B ASSA ABLOY AB CLASS B
INGA ING GROEP NV
AD KONINKLIJKE AHOLD DELHAIZE N.V.
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
EPI A EPIROC AB
- Jean-François Granjon
VAC PIERRE & VACANCES SA
EVT EVOTEC SE
IDL ID LOGISTICS GROUP
EXE EXEL INDUSTRIES SA
POM PLASTIC OMNIUM SE
WHA WERELDHAVE N.V.
PIG HAULOTTE GROUP SA
CDA COMPAGNIE DES ALPES SA
ALCAR CARMAT SA
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
BB SOCIETE BIC SA
NEX NEXANS SA
CTAC CTAC N.V.
ROYAL VOPAK NV
MMT METROPOLE TELEVISION SA
SEFER SERGEFERRARI GROUP SA
SHOT SCANDIC HOTELS GROUP
MELE MELEXIS NV
ALVDM VOYAGEURS DU MONDE SA
TKO TIKEHAU CAPITAL SCA
ALKAL KALRAY SA
DSC1 DUTCH STAR C SHAR
ZEL PHARMA MAR SA
BAR BARCO NV
OVH OVH GROUPE
FORSE FORSEE POWER SA
SPM SAIPEM S.P.A.
FORVIA TO OFFER AN ADDITIONAL €200 MILLION OF 5.500% SENIOR NOTES DUE ...
FORVIA TO OFFER AN ADDITIONAL €200 MILLION OF 5.500% SENIOR NOTES DUE 2031 AIMING TO PARTIALLY REFINANCE ITS 7.250% 2026 BONDS Not for distribution, directly or indirectly, in the United States, Canada, Australia or Japan NANTERRE (FRANCE)APRIL 24, 2024 FORVIA TO OFFER AN ADDITIONAL €200 MILLION OF 5.500% SENIOR NOTES DUE 2031 AIMING TO PARTIALLY REFINANCE ITS 7.250% 2026 BONDS FORVIA has announced today that it will make an offering of €200 million of 5.500% senior notes due 2031 (the “New Notes”) which will be consolidated with and form a single series with the €500 million 5.500% Seni...
FORVIA PROPOSE L’ÉMISSION DE 200 MILLIONS D’EUROS D’OBLIGATIONS SENIOR...
FORVIA PROPOSE L’ÉMISSION DE 200 MILLIONS D’EUROS D’OBLIGATIONS SENIOR ADDITIONNELLES AU TAUX DE 5,500 % À ÉCHÉANCE 2031 DESTINÉES À PARTIELLEMENT REFINANCER SES OBLIGATIONS 2026 AU TAUX DE 7,250 % Ce communiqué ne doit pas être diffusé, publié ou distribué, directement ou indirectement, au sein ou en destination des Etats-Unis d’Amérique, du Canada, de l’Australie ou du Japon. Ce communiqué ne constitue pas une offre et est uniquement fourni à titre informatif. NANTERRE (FRANCE)24 APRIL 2024 FORVIA PROPOSE L’ÉMISSION DE 200 MILLIONS D’EUROS D’OBLIGATIONS SENIOR ADDITIONNEL...
Michelin : Déclaration des transactions sur actions propres - 24/04/20...
Michelin : Déclaration des transactions sur actions propres - 24/04/2024 23, Place des Carmes-Déchaux - 63000 CLERMONT-FERRAND Informations sur les opérations réalisées dans le cadre d’un programme de rachat d’actions, hors contrat de liquiditéInformation réglementée Dénomination sociale de l’émetteur : Michelin – LEI 549300SOSI58J6VIW052Référence de l’instrument financier : Actions ordinaires – Code ISIN FR 0000121261Date : 24 avril 2024 Nom de l'émetteurCode Identifiant de l'émetteurJour de la transactionCode identifiant de l'instrument financierVolume total journalier (en nombre d'ac...
- Anthony Dick
- Michael Foundoukidis
OPmobility : Un début d’année conforme aux attentes
>Une publication T1 sans grande surprise - OPmobility (ex-Plastic Omnium) a publié, hier, un CA T1 2024 de 2 613 M€, en ligne avec les attentes (2 580 M€) et en croissance organique de 3.4%, suggérant une surperformance robuste de 430 pb par rapport à la production automobile (activité Extérieur, Amérique du Nord notamment) malgré un mix géographique défavorable ce trimestre. Au-delà, le management nous a semblé toujours confiant dans ses perspectives et a, sans surpr...
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