reports
- Arancha Pineiro
- Carole Braudeau
- Carole Braudeau
- Michael B. Schäfer
- Michael B. Schäfer
- Fehmi Ben Naamane
- Johanna Jourdain
DHL Group : Detailed levers for future growth and profitability improv...
>Target for 50% revenue growth by 2030 vs 2023 through growth initiatives including structural tailwinds and divisions strategies - Via its strategy update, DHL has unveiled its ambitions for growth out to 2030, based on: i) division strategies initiatives, such as quality and operational excellence at the express division, further productivity improvement at global freight forwarding, operating leverage and technology usage at the supply chain activity as well as lev...
- Fehmi Ben Naamane
- Johanna Jourdain
DHL Group : Detailed levers for future growth and profitability improv...
>Target for 50% revenue growth by 2030 vs 2023 through growth initiatives including structural tailwinds and divisions strategies - Via its strategy update, DHL has unveiled its ambitions for growth out to 2030, based on: i) division strategies initiatives, such as quality and operational excellence at the express division, further productivity improvement at global freight forwarding, operating leverage and technology usage at the supply chain activity as well as lev...
- Roland Pfaender
- MBA
- CFA
- CCRA
- Steven Gould
Commerzbank : Unicredit continues to advance its strategy…
>A surprise announcement from UCG of a further increase in the capital - Only days after the announcement from the German state of the indefinite suspension of its process of exiting the capital of CBK (i.e. maintaining the 12% stake over the long term) UCG has just announced the acquisition of an additional 11.5% via financial instruments, thus taking its stake to close to 21% and making its CBK’s leading shareholder. As a reminder, at the same time UCG has requested...
- Jerôme Bodin
Publicis : What to expect from Q3?
>Organic growth of 5.7% expected in Q3, still the market leader - We give an update on our expectations for Publicis for Q3. The group will report just its net revenue and not its earnings. We look for organic growth 5.7% based on still strong momentum for the media business (particularly in the US and Asia) and also a slight improvement in the situation in creative (account wins). The trend is likely to remain negative at Sapient (~15% of net revenue) and show a seq...
- Jerôme Bodin
Publicis : Qu’attendre du T3 ?
>Une croissance organique de 5,7% attendue au T3, toujours leader sur le marché - Nous faisons un point sur nos attentes pour Publicis pour le T3. Le groupe publiera uniquement son revenu net et pas de résultats. Nous tablons sur une croissance organique de 5,7% sur la base d’une dynamique toujours soutenue pour l’activité Media (tout particulièrement aux US et en Asie) mais aussi une légère amélioration de la situation dans le créatif (gains de budgets). La tendance...
- Michael B. Schäfer
BASF : CMD preview – Rightsizing Europe? What’s core? Shareholder retu...
>Rightsizing Europe, focus on “Verbund”, Bridge to 17% EBITDA margin target? - BASF will host its CMD on 26-27 September 2024. We expect more granularity and details to what was presented back in December 2023 when former CEO Martin Brudermüller and his executive team already pointed towards a more focused chemicals company, leveraging its integrated “Verbund” structure. Chemicals, Materials, Industrial Solutions and Nutrition&Care represent the backbone of the Verbun...
- Roland Pfaender
- MBA
- CFA
- CCRA
- Steven Gould
Commerzbank : Unicredit avance encore un peu plus ses pions…
>Annonce surprise d’une nouvelle montée au capital de la part d’UCG - Quelques jours seulement après l’annonce par l’Etat allemand de la suspension ‘sine die’ de son processus de sortie du capital de CBK (i.e. maintien durable de la participation de 12%), UCG vient d’annoncer l’acquisition de 11.5% supplémentaires par le bais d’instruments financiers, portant ainsi sa participation à près de 21% et devenant par la même le 1er actionnaire de CBK. Notons qu’UCG vient pa...
- Research Department
INFORME DIARIO 24 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: NEINOR HOMES, OHLA, SOLARIA. EUROPA: BNP PARIBAS, DHL GROUP, UNICREDIT. El Ibex se queda a las puertas de los 11.800 puntos Jornada europea de menos a más, impulsada en parte por la apertura positiva en EE.UU. que continúa su tendencia de récord y busca renovar máximos históricos. Así en el STOXX 600, y tras bastante rotación sectorial durante la sesión, Autos y Retail fueron los sectores que más subieron, frente a Farma y Bancos que tuvieron el pe...
- Delphine Brault
- Quentin Borie
Atlas Copco : Preview T3 2024 : un consensus trop prudent sur les comm...
>Nous prévoyons 3pp d’upside sur la croissance organique des commandes du T3 - Pour le T3 2024, nous anticipons une croissance organique des prises de commandes de 6% yoy (vs consensus à 3% après s’être ajusté à la baisse lors de l’été). Compte tenu des commentaires récents, nous ajustons nos prévisions et anticipons désormais : i/ une reprise plus lente qu’initialement prévu sur les semiconducteurs (légère reprise séquentielle avant une accélération en 2025) ; et ii/...
- Delphine Brault
- Quentin Borie
Atlas Copco : Q3 2024 preview: consensus too cautious on order intake
>We forecast 3pp upside on organic growth for order intake in Q3 - For Q3 2024, we forecast an organic growth in order intake of 6% y-o-y (vs the consensus at 3% after the downward adjustment over the summer). In light of recent comments, we have adjusted our forecasts and now anticipate: i/ a recovery that is slower than initially expected on semiconductors (a slight sequential recovery before an acceleration in 2025); and ii/ a demand environment lastingly impacted ...
- Marine Leleux
- Maureen Schuller
- Suvi Platerink Kosonen
Bank Brunch/CIBC and Canadian covereds, UniCredit vs Commerzbank AT1, ...
Canadian covered bonds: limited further performance upside vs peers. Commerzbank AT1 likely to underperform after Germany effectively halts UniCredit's M&A efforts. Fitch considers potential AT1 reforms could end up having a negative impact on AT1 ratings. The president of De Nederlandsche Bank underlines the urgency in implementing NBFI sector regulation. Bank bond performance
- Marine Leleux
- Maureen Schuller
- Suvi Platerink Kosonen
Bank Brunch/CIBC and Canadian covereds, UniCredit vs Commerzbank AT1, ...
Canadian covered bonds: limited further performance upside vs peers. Commerzbank AT1 likely to underperform after Germany effectively halts UniCredit's M&A efforts. Fitch considers potential AT1 reforms could end up having a negative impact on AT1 ratings. The president of De Nederlandsche Bank underlines the urgency in implementing NBFI sector regulation. Bank bond performance
- Carole Braudeau
- Carole Braudeau
Publicis Groupe Acquires Mars United Commerce
Publicis Groupe Acquires Mars United Commerce PUBLICIS GROUPE ACQUIRES MARS UNITED COMMERCE, CREATING THE INDUSTRY-LEADING CONNECTED COMMERCE SOLUTION Mars is the largest independent commerce marketing company in the world. Leveraging its proprietary suite of commerce solutions, Mars drives growth through shoppers for more than 100 of the world’s top brands through its retail consultancy, commerce media expertise and proprietary shopper intelligence The combined forces of Publicis Groupe and Mars...
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.