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Emna Ben Bdira ... (+2)
  • Emna Ben Bdira
  • Maxime Kogge

Aperam : Q1 post-view: still subdued European backdrop, target price c...

>Unencouraging outlook for Q2 - Aperam’s Q1 release was not welcomed by the market despite EBITDA coming slightly above consensus at € 55m. The market sanctioned the mixed outlook with Q2 EBITDA expected to be up vs Q1 but stand below current expectations (€ 93m according to Visible Alpha). This cautious message is due to difficulties in ramping up the recently revamped hot rolling mill in Brazil and a strike at Gueugnon in France as well as to still weak demand. At t...

 PRESS RELEASE

Transactions in connection with share buyback programme

Transactions in connection with share buyback programme Company Announcement Copenhagen, 6 May 2024 No. 20/2024 Transactions in connection with share buyback programmeISS A/S, a leading workplace experience and facility management company, announced on 22 February 2024 a new share buyback programme, see company announcement no. 4/2024. The share buyback programme is executed in accordance Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 (the “Market Abuse Regulation”) and the Commission Delegated Regulation (EU) 2016/1052 o...

Emna Ben Bdira ... (+2)
  • Emna Ben Bdira
  • Maxime Kogge

Aperam : Postview T1 : contexte sectoriel européen toujours peu propic...

>Perspectives peu encourageantes sur le T2 - La publication T1 d’Aperam a été mal accueillie par le marché malgré un EBITDA de 55 M€ légèrement au-dessus du consensus. Le marché a sanctionné les perspectives mitigées avec un EBITDA T2 attendu en hausse vs T1 mais à un niveau inférieur au consensus actuel (93 M€ selon Visible Alpha). Ce discours prudent s’explique par les difficultés de mise en service du nouveau laminoir à chaud au Brésil et par une grève sur le site ...

 PRESS RELEASE

Declaration of shares and voting rights April 30, 2024 - VALNEVA SE

Declaration of shares and voting rights April 30, 2024 - VALNEVA SE VALNEVA Declaration of shares and voting rights April 30, 2024__________________________________________________________________________________________ Company name: VALNEVARegistered office: 6 rue Alain Bombard, 44800 Saint-Herblain (France)Regulated market of Euronext Paris - Compartment B Declaration date: May 6, 2024 Number of shares composing the share capital of Valneva Total number of voting rights including suspended voting rights* Description of the change D...

Jerôme Bodin
  • Jerôme Bodin

ODDO BHF Small & MIDCAP MORNING NEWS - 03/05/2024

Founded in 1959, Leifheit AG is one of the leading European brand suppliers of household items. The group divides its operating business into the household, wellbeing and private label segments. In view of its growing turnover (CAGR of +2.8% for 2023 to 2026e) and EBIT margins (+290bp to 5.2% in 2026e vs 2023), as well as its solid financial profile (equity ratio of about 50%, average net cash position of c. € 40m for 2024e to 2026e, average positive FCF of c. € 11m for 2024e to 2026e...

Jerôme Bodin
  • Jerôme Bodin

ODDO BHF Small & MIDCAP MORNING NEWS - 05/03/2024

Founded in 1959, Leifheit AG is one of the leading European brand suppliers of household items. The group divides its operating business into the household, wellbeing and private label segments. In view of its growing turnover (CAGR of +2.8% for 2023 to 2026e) and EBIT margins (+290bp to 5.2% in 2026e vs 2023), as well as its solid financial profile (equity ratio of about 50%, average net cash position of c. € 40m for 2024e to 2026e, average positive FCF of c. € 11m for 2024e to 2026e...

Emna Ben Bdira ... (+2)
  • Emna Ben Bdira
  • Maxime Kogge

Aperam : Decent Q1 set of results, Q2 outlook on higher demand but mar...

>Soft results as expected with stainless weakness offset by recycling and alloys - Aperam delivered decent Q1 results with adjusted EBITDA at € 55m, stable on Q4 in line with the group guidance and above the consensus at € 52m and our own expectations of € 48m. Positively, the core Stainless & Electrical division returned to profits (€ 14m EBITDA), although that was mostly driven by lower inventory valuation losses. Volumes were otherwise decent notably in Europe (per...

Mads Brinkmann Andersen
  • Mads Brinkmann Andersen

ISS (Buy, TP: DKK171.00) - Strong portfolio growth but…

Q1 was another solid quarter with 6% organic growth (consensus 5.6%), led by 8.5% portfolio growth; however, less-impressive above-base volumes (down 7%) and a negative print in the Americas of c2% weighed on the stock. The communication around the DTAG arbitration and 2024 guidance was unchanged. We reiterate our BUY and DKK171 target price.

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Aperam: In-line 1Q24 EBITDA, FCF marked by WC build, 2Q24 guidance below consensus. Ayvens: Taking the brakes off. BAM: Not the best start to the year. bpost: 1Q24 in line with consensus but beat vs INGF, no outlook yet. Brunel International: good set of 1Q24 results – 5% beat on EBIT, comforting trends. B&S Group: Preview - should be a non-event. DEME Group: Preview - should be a non-event. D'Ieteren: Febiac April registrations flat YoY, VW brands up 8.4%. GBL: NAV per share in ...

Emna Ben Bdira ... (+2)
  • Emna Ben Bdira
  • Maxime Kogge

Aperam : Decent Q1 set of results, Q2 outlook on higher demand but mar...

>Soft results as expected with stainless weakness offset by recycling and alloys - Aperam delivered decent Q1 results with adjusted EBITDA at € 55m, stable on Q4 in line with the group guidance and above the consensus at € 52m and our own expectations of € 48m. Positively, the core Stainless & Electrical division returned to profits (€ 14m EBITDA), although that was mostly driven by lower inventory valuation losses. Volumes were otherwise decent notably in Europe (per...

 PRESS RELEASE

Aperam - Résultats du premier trimestre 2024 : “Les activités non trad...

Aperam S.A. / Mot-clé(s) : Résultat trimestriel Aperam - Résultats du premier trimestre 2024 : “Les activités non traditionnelles font preuve de résilience face à la récession industrielle” 03-Mai-2024 / 06:59 CET/CEST Résultats du premier trimestre 20241 "Les activités non traditionnelles font preuve de résilience face à la récession industrielle"   Luxembourg, le 3 mai 2024  (07:00 CET) - Aperam (« Aperam », ou la « Société») (Amsterdam, Luxembourg, Paris, Bruxelles: APAM et NYRS: APEMY), a annoncé aujourd’hui ses résultats pour le trimestre se terminant le 31 mars 2024.   ...

 PRESS RELEASE

Aperam - First quarter 2024 results: “Non-traditional activities prove...

Aperam S.A. / Key word(s): Quarter Results Aperam - First quarter 2024 results: “Non-traditional activities prove resilient in the industrial recession” 03-May-2024 / 06:59 CET/CEST First quarter 2024 results1   “Non-traditional activities prove resilient in the industrial recession”   Luxembourg, May 3, 2024 (07:00 CET) - Aperam (referred to as “Aperam” or the “Company”) (Amsterdam, Luxembourg, Paris, Brussels: APAM, NYRS: APEMY), announced today results for the three months ended March 31, 2024.  Highlights Health and Safety: LTI frequency rate of 1.5x in Q1 2024 comp...

Frank Claassen
  • Frank Claassen

Aperam - Have we now seen the trough quarter?

•              Q1 EBITDA was in line, while the outlook of a higher Q2 is encouraging. •              Nevertheless, improvement is already anticipated and we do not expect to materially change our estimates.   •              We stick to our Hold rating with a TP of EUR 30, based on our 2025E SOTP with an overall target EV/EBITDA of around 5x.

 PRESS RELEASE

Air France-KLM - Consolidated financial statements and notes

Air France-KLM - Consolidated financial statements and notes AFKLM Consolidated financial statements and notes Attachment

ABGSC Services Research ... (+2)
  • ABGSC Services Research
  • Peter Sehested

Organic growth forecasts raised post Q1

EBIT forecasts revised by -1% to +5%. Organic growth for 2024e raised to 5.9% (5.4%). BUY - TP 185.

 PRESS RELEASE

Information on share capital and voting rights - April 2024

Information on share capital and voting rights - April 2024 Information on share capital and voting rights April 2024 Statement made in accordance with article L. 233-8 II of the French commercial Code and articles 221-1 2 ° f) and 223-16 of the AMF Regulations.                          May 2nd, 2024   Statement made by:         Nexans S.A.Registered office : 4 Allée de l’Arche - 92400 CourbevoieRCS Nanterre 393 525 852Regulated market of Euronext Paris (Compartment A) Date   Total number of shares   Total number of...

 PRESS RELEASE

Information mensuelle relative au nombre d'actions et de droits de vot...

Information mensuelle relative au nombre d'actions et de droits de vote - Avril 2024 Information mensuelle relative au nombre d’actions et de droits de voteAvril 2024 Déclaration faite en application de l'article L. 233-8 II du code de commerce et des articles 221-1 2° f) et 223-16 du règlement général de l’AMF. Le 2 mai 2024   Société déclarante : Nexans S.A.Siège social : 4 Allée de l’Arche – 92400 CourbevoieRCS Nanterre 393 525 852Marché réglementé d’Euronext Paris (Compartiment A) Date     Nombre d’acti...

Carole Braudeau
  • Carole Braudeau

Credit Morning 05/02/2024

BBVA proposes merging with Banco Sabadell to create a European leaderUnited Group: e& has considered a potential acquisition of United Group (Bloomberg)>...

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