Renault Group: Communication related to the availability of the EMTN base prospectus 2024 Press ReleaseMay 6, 2024 Availability of the base prospectus for the 2024 EMTN programme Boulogne-Billancourt, May 6th, 2024 On May 3rd, 2024, Renault SA registered the Base Prospectus for its EMTN programme with the French market Authority (Autorité des marchés financiers – AMF) under visa number 24-138. This prospectus is available free of charge upon request at Renault SA head office, 122-122 bis avenue du Général Leclerc, 92100 Boulogne-Billancourt, France. It is also available on ...
Renault Group: Communiqué de mise à disposition du prospectus de base EMTN 2024 Communiqué de presse6 mai 2024 Mise à disposition du prospectus de base du programme EMTN 2024 Boulogne-Billancourt, le 6 mai 2024, Renault SA a enregistré le 3 mai 2024, auprès de l’Autorité des marchés financiers (AMF), le Prospectus de base de son programme EMTN sous le numéro de visa n° 24-138. Ce prospectus est disponible gratuitement sur simple demande au siège social de Renault SA, 122-122 bis avenue du Général Leclerc, 92100 Boulogne-Billancourt. Il est également disponible sur le site Internet de ...
We are removing GALP from our ODDO BHF European Large Caps list. The stock has chalked up a performance of +31.3% since its inclusion in the list on 20 March. Our analyst is adopting today a Neutral recommendation (vs Outperform) on the stock. - ...
>Q1 even tougher than expected but with no consequence for the year - Although VW had expected a tough Q1, earnings were nonetheless 7% below estimates (EBIT) with an operating margin of 6.1% (consensus at 6.5%) and negative FCF of close to € 3bn (vs consensus at -€ 921m). The causes were known, but had an even more negative impact than anticipated, mainly with the supply difficulties at Audi (operating margin for Progressive unit at just 3.4% vs consensus 7.7%) and, ...
>Continued erosion of Cars fundamentals - MBG reported subdued Q1 results Tuesday morning, below expectations (adjusted EBIT 5% below consensus, -10% for the Cars division), see First Take. The group reported a marked erosion of its earnings and margins in the Cars division (adjusted EBIT € 2.3bn, -44% y-o-y, margin 9.0%, -580bp y-o-y), partly offset by a still very solid performance from Vans (adjusted EBIT € 0.8bn, +11% y-o-y, margin 16.3%, -20bp y-o-y). The group ...
>Un T1 encore plus difficile qu’anticipé mais sans conséquence sur l’année - Si VW avait bien prévenu d’un T1 difficile, les résultats sont néanmoins ressortis inférieurs de 7% aux attentes (EBIT) avec une MOP de 6.1% (consensus à 6.5%) et un FCF négatif de près de 3 Md€ (vs consensus à -921 M€). Les causes étaient connues mais ont eu un impact encore plus négatif qu’anticipé avec, essentiellement, les difficultés d’approvisionnement chez Audi (MOP Progressive à seule...
>Poursuite de l’érosion des fondamentaux de Cars - MBG a publié hier matin des résultats T1 mitigés et inférieurs aux attentes (EBIT ajusté 5% en dessous du css, -10% pour la division Cars), voir First Take. Le groupe a fait état d’une forte érosion de ses résultats et de ses marges dans la division Cars (EBIT ajusté 2,3 Md€, -44% y-o-y, marge 9,0%, -580 pb y-o-y, partiellement compensée par une performance toujours très solide dans les Vans (EBIT ajusté 0,8 Md€, +11%...
BHP's bid for Anglo American has confirmed interest from miners in copper in the context of increasingly challenged production and difficulties in fully completing projects. Anglo’s (Neutral) prospects in copper are now better valued and this is also the case for BHP (Neutral vs Underperform) although not so for Rio Tinto (Outperform vs Neutral). Downstream, Nexans and Montana Aerospace are our Top Picks (Outperform) vs Aurubis, Rexel and Prysmian (Neutral). - ...
L’offre de BHP sur Anglo American a confirmé l’intérêt des minières pour le cuivre dans un contexte de tensions croissantes sur la production et de difficultés à faire aboutir les projets. Les perspectives d’Anglo (Neutre) dans le cuivre sont désormais mieux valorisées, c’est aussi le cas de BHP (Neutre vs Sous-performance) mais pas encore assez, selon nous, sur Rio Tinto (Surperformance vs Neutre). En aval, Nexans et Montana Aerospace sont nos valeurs préférées (Surperformance) vs Au...
>Q1 below dragged by weak profitability for Cars - Mercedes-Benz this morning reported Q1 results that came in weak and below expectations (adj. EBIT 5% below consensus with Cars 10% below). MBG reported Q1 revenues of €35.9bn, -4% y-o-y, broadly in line with expectations (company-compiled css €35.2bn, ODDO BHF € 34.9bn), while adj. EBIT was € 3.60bn, down -34% y-o-y, below expectations (css € 3.79bn, ODDO BHF € 4.01bn), and net profit was € 3.0bn, -25% y-o-yHow...
>Q1 below dragged by weak profitability for Cars - Mercedes-Benz this morning reported Q1 results that came in weak and below expectations (adj. EBIT 5% below consensus with Cars 10% below). MBG reported Q1 revenues of €35.9bn, -4% y-o-y, broadly in line with expectations (company-compiled css €35.2bn, ODDO BHF € 34.9bn), while adj. EBIT was € 3.60bn, down -34% y-o-y, below expectations (css € 3.79bn, ODDO BHF € 4.01bn), and net profit was € 3.0bn, -25% y-o-yHow...
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. - ...
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. - ...
>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...
>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...
>Q1 sales a shade above expectations thanks to financial services - Yesterday, Renault published Q1 2024 sales that came in slightly above expectations at € 11.7bn (+2% vs the consensus at € 11.5bn), largely driven by the financial services business (+28%, 11% above estimates) whilst the Autos business was in line (€ 10.4bn) despite a more negative volumes contribution (-4.6 vs -2.8 points), slightly less robust pricing than expected (+4.1 vs +5.0 points) and thanks ...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.