reports
BAE Systems Awarded Contract to Maintain and Repair Light Guns in Ukra...
LONDON--(BUSINESS WIRE)-- The UK Ministry of Defence has awarded BAE Systems a contract to maintain and repair gifted L119 Light Guns in Ukraine. The contract, which was announced during a recent UK Government-led trade mission to Kyiv, means that L119s which were donated by the UK to Ukraine can be serviced in country and returned to the frontline more quickly. The L119 Light Gun has proved to be a trusted system that Ukrainian forces have favoured because of its accurate firepower, light weight, low logistical requirements and mobility. As the original manufacturer of the Light Gun, as...
- VRS RESEARCH TEAM
BAE SYSTEMS PLC Flash Note
BAE Systems plc develops, delivers, and supports advanced defense and aerospace systems. The Group manufactures military aircraft, surface ships, submarines, radar, avionics, communications, electronics, and guided weapon systems. BAE Systems services clients located throughout the world.
Australia Selects BAE Systems and ASC to Build Sovereign Nuclear Power...
LONDON--(BUSINESS WIRE)-- The Australian Government has selected BAE Systems and ASC Pty Ltd to build Australia's new fleet of nuclear powered submarines in the latest significant development in the AUKUS trilateral security pact between the United States, the United Kingdom and Australia. This press release features multimedia. View the full release here: A computer generated image of SSN-AUKUS which will be built for Australia by BAE Systems and ASC Pty Ltd (Photo: Business Wire) Australian Deputy Prime Minister, Richard Marles, and UK Defence Secretary, Grant Shapps, announced the news in ...
BAE Systems: 1 director
A director at BAE Systems maiden bought 13,698 shares at 1,320p and the significance rating of the trade was 81/100. 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 clear...
- Julian Dobrovolschi
ENX EURONEXT NV
EDEN EDENRED SA
RR. ROLLS-ROYCE HOLDINGS PLC
ENGI ENGIE SA.
BVI BUREAU VERITAS SA
BN DANONE SA
AAL ANGLO AMERICAN PLC
COV COVIVIO SA
SK SEB SA
DAI DAIMLER AG
NESN NESTLE S.A.
ISP INTESA SANPAOLO S.P.A.
HEI HEIDELBERGCEMENT AG
REP REPSOL SA
BA. BAE SYSTEMS PLC
UCG UNICREDIT S.P.A.
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
CCEP COCA-COLA EUROPEAN PARTNERS PLC
KBX KNORR-BREMSE AG
TEN TENARIS S.A.
- Julian Dobrovolschi
ENX EURONEXT NV
EDEN EDENRED SA
RR. ROLLS-ROYCE HOLDINGS PLC
ENGI ENGIE SA.
BVI BUREAU VERITAS SA
BN DANONE SA
AAL ANGLO AMERICAN PLC
COV COVIVIO SA
SK SEB SA
DAI DAIMLER AG
NESN NESTLE S.A.
ISP INTESA SANPAOLO S.P.A.
HEI HEIDELBERGCEMENT AG
REP REPSOL SA
BA. BAE SYSTEMS PLC
UCG UNICREDIT S.P.A.
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
CCEP COCA-COLA EUROPEAN PARTNERS PLC
KBX KNORR-BREMSE AG
TEN TENARIS S.A.
- Olfa Taamallah
- Yan Derocles
BAE Systems : Fine visibility already well reflected in the valuation
>The consolidation of Ball Aerospace offsets slightly cautious organic guidance… - We expect underlying EBIT to grow 15% in FY 2024 to £ 3,084m (margin of 10.9%, +30bp) thanks to the consolidation of Ball Aerospace and including organic growth of around 9% vs a company target of between 5% and 7%. We are notably more optimistic for the Air and Electronic Systems divisions. However, the increase in the tax rate to 21% partly offsets this growth, resulting in EPS growth...
- Olfa Taamallah
- Yan Derocles
BAE Systems : Une belle visibilité déjà bien reflétée dans la valorisa...
>La consolidation de Ball Aerospace compense une guidance organique un peu prudente… - Nous modélisons un EBIT Underlying en hausse de 15% en FY 24 à 3 084 M£ (marge de 10.9% +30 pb) grâce à la consolidation de Ball Aerospace et y compris une progression organique de c9% vs. un objectif compris entre 5 et 7%. Nous sommes notamment plus optimistes pour les divisions Air et Electronic Systems. Toutefois, la remontée du taux d’imposition à 21% compense une partie de cett...
- Jerôme Bodin
MT ARCELORMITTAL SA
CA CARREFOUR SA
VIV VIVENDI SE
WKL WOLTERS KLUWER NV
RAND RANDSTAD NV
G ASSICURAZIONI GENERALI S.P.A.
FRE FRESENIUS SE & CO. KGAA
BA. BAE SYSTEMS PLC
ITX INDUSTRIA DE DISENO TEXTIL S.A.
ENG ENAGAS SA
RIO RIO TINTO PLC
IHG INTERCONTINENTAL HOTELS GROUP PLC
JDEP JDE PEET'S NV
- Jerôme Bodin
MT ARCELORMITTAL SA
CA CARREFOUR SA
VIV VIVENDI SE
WKL WOLTERS KLUWER NV
RAND RANDSTAD NV
G ASSICURAZIONI GENERALI S.P.A.
FRE FRESENIUS SE & CO. KGAA
BA. BAE SYSTEMS PLC
ITX INDUSTRIA DE DISENO TEXTIL S.A.
ENG ENAGAS SA
RIO RIO TINTO PLC
IHG INTERCONTINENTAL HOTELS GROUP PLC
JDEP JDE PEET'S NV
- Olfa Taamallah
- Yan Derocles
BAE Systems : Solid FY 2023 print but FY 2024 guidance looks a bit tim...
>Solid FY 2023 print with Underlying FCF 40% above css and book-to-bill at 1.5x - BAE Systems just reported solid FY 2023 results, bang in line at the EBIT level but far above in terms of FCF generation. At £ 2,682m (+8.2% and +9% l-f-l) underlying EBIT came in bang in line with consensus forecasts (ODDO BHF: £ 2,685m; VA Css: £ 2,686m) with a margin of 10.6%. Maritime being above estimates whereas Electronic Systems was a bit short. Adjusted FCF far exceeded expectat...
- Olfa Taamallah
- Yan Derocles
BAE Systems : Solid FY 2023 print but FY 2024 guidance looks a bit tim...
>Solid FY 2023 print with Underlying FCF 40% above css and book-to-bill at 1.5x - BAE Systems just reported solid FY 2023 results, bang in line at the EBIT level but far above in terms of FCF generation. At £ 2,682m (+8.2% and +9% l-f-l) underlying EBIT came in bang in line with consensus forecasts (ODDO BHF: £ 2,685m; VA Css: £ 2,686m) with a margin of 10.6%. Maritime being above estimates whereas Electronic Systems was a bit short. Adjusted FCF far exceeded expectat...
BAE Systems Secures Regulatory Approvals for Acquisition of Ball Aeros...
LONDON--(BUSINESS WIRE)-- Further to the announcement of 17 August 2023, BAE Systems has now received the necessary regulatory approvals and will be executing steps in the coming days to complete the acquisition of Ball Aerospace from Ball Corporation. The final transaction is expected to close at a purchase price of $5.5 billion (approximately £4.4 billion), which will be funded through existing cash and new external debt. The transaction will be treated as an asset purchase for federal tax purposes, with an expected net present value tax benefit of c.$750m making the underlying economic cons...
BAE Systems Acquires British Technology Business Malloy Aeronautics
LONDON--(BUSINESS WIRE)-- BAE Systems has acquired Malloy Aeronautics – a leading company in innovative heavy lift drone and aeronautical technologies. This press release features multimedia. View the full release here: A CGI of the T-650 UAS, an electric heavy lift air system under development by Malloy Aeronautics and BAE Systems. (Photo: Business Wire) Malloy Aeronautics designs and supplies all-electric uncrewed aerial systems (UAS) to both civil and military customers. Its range of uncrewed, heavy lift quadcopters are capable of lifting payloads from 68kg to 300kg over short to medium ra...
Thousands of New Apprenticeships and Graduate Jobs Announced at UK’s B...
LONDON--(BUSINESS WIRE)-- BAE Systems is set for another record-breaking recruitment drive in 2024 with almost 2,700 new apprentice and graduate opportunities available to young people across the UK. This press release features multimedia. View the full release here: Software engineering trainees working in BAE Systems’ digital, cyber and intelligence business. (Photo: Business Wire) The Company has more than doubled its early careers intake in the past five years, making a significant contribution to the UK economy and offering more young people than ever the prospect of exciting long-term c...
- Bruno Cavalier
- Martin Marandon-Carlhian
- Stephane Houri
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/13/2023
We are adding CaixaBank and Deutsche Börse to the ODDO BHF European Large Caps List. At the same time, we are removing Accor (market scepticism on the hotel sector, valuation drivers behind us) and Ryanair (same market scepticism on travel, very good Q3 results having already helped the stock rally). We are also downgrading the Travel & Leisure sector from Overweight to Market Weight. Since its creation, the ODDO BHF European Large Caps List has recorded a total return of +8.5% compar...
- Olfa Taamallah
- Yan Derocles
BAE Systems : Trading update – Strong order intake momentum continues ...
>Book-to-bill already at 1.2x year to date - BAE Systems just released a trading statement where it underscored strong order intake momentum, with over £ 30bn booked year to date (vs £ 21.1bn over H1 2023) with four majors orders already booked so far in H2 2023 with i/ £ 3.9bn for the next phase of the SSN-AUKUS submarine programme, which is providing funding for development work out to 2028, ii/ $797m to begin AMPV full rate production, iii/ c.$ 800m under multiple ...
- Bruno Cavalier
- Martin Marandon-Carlhian
- Stephane Houri
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 13/11/2023
Nous faisons entrer CaixaBank et Deutsche Börse dans notre liste de Valeurs recommandées Large Caps. Inversement, nous faisons sortir Accor (scepticisme du marché sur le secteur de l’hôtellerie, catalyseurs derrière nous) et Ryanair (même scepticisme du marché sur les voyages, les très bons résultats T3 ont permis le rebond du titre). Nous dégradons également le secteur du Travel & Leisure de Surpondérer à Neutre. Depuis sa création, notre liste enregistre un total return de +8,5% vs ...
EDEN EDENRED SA
DGE DIAGEO PLC
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
SW SODEXO SA
HNR1 HANNOVER RUECK SE
GBF BILFINGER SE
SCR SCOR SE
ALV ALLIANZ SE
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
NOVO B NOVO NORDISK A/S CLASS B
KER KERING SA
VOE VOESTALPINE AG
01913 PRADA S.P.A.
BA. BAE SYSTEMS PLC
MONC MONCLER SPA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
CLNX CELLNEX TELECOM S.A.
- Olfa Taamallah
- Yan Derocles
BAE Systems : Trading update – Strong order intake momentum continues ...
>Book-to-bill already at 1.2x year to date - BAE Systems just released a trading statement where it underscored strong order intake momentum, with over £ 30bn booked year to date (vs £ 21.1bn over H1 2023) with four majors orders already booked so far in H2 2023 with i/ £ 3.9bn for the next phase of the SSN-AUKUS submarine programme, which is providing funding for development work out to 2028, ii/ $797m to begin AMPV full rate production, iii/ c.$ 800m under multiple ...
- Charlotte Vaisse
- Jean-Baptiste Rouphael
- Olfa Taamallah
- Usama Tariq
- Yan Derocles
ODDO BHF Small & MIDCAP MORNING NEWS - 10/10/2023
Last week we held our third ODDO BHF Iberian Forum, the third since the announcement of our partnership with BBVA. The event was fully virtual and took place on 4 and 5 October. With 62 Iberian issuers, close to 180 institutional investors and more than 700 meetings, this is one of the largest dedicated Iberian conferences held this year. This note brings together 47 feedback documents, with 6 target price revisions (o/w 4 downgrades). The main subjects of debate were, on the one han...
MTX MTU AERO ENGINES AG
HO THALES SA
EURN EURONAV NV
TFI TELEVISION FRANCAISE 1 SA
FGA FIGEAC AERO SA
RHM RHEINMETALL AG
VIRP VIRBAC SA
FII LISI SA
BOLS LUCAS BOLS NV
SAF SAFRAN S.A.
AIR AIRBUS SE
LAT LATECOERE SA
SHA SCHAEFFLER AG
BA. BAE SYSTEMS PLC
AIXA AIXTRON SE
ARCAD ARCADIS NV
OHB OHB AG
LDO LEONARDO SPA
MDM MAISONS DU MONDE SA
HAG HENSOLDT AG
AERO MONTANA AEROSPACE AG
YOU ABOUT YOU HLDG AG
AM DASSAULT AVIATION
VTSC VITESCO TECHNOLOGIES GRP AG
EAPI EUROAPI
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