reports
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
Lhyfe: partnership with Energy Pool
This morning, Lhyfe announced a demand response partnership with Energy Pool, a leading French flexibility operator and distributed energy services provider with more than 8GW of energy production and storage assets under management worldwide. Leveraging the flexibility of Lhyfe's French PEM electr
- Jean-François Granjon
- Louis Boujard
- CFA
- Jean-François Granjon
- Louis Boujard
- CFA
- Jean-François Granjon
- Louis Boujard
- CFA
Lhyfe : Medium-term targets confirmed
>Interim results close to our forecasts - The interim results make little sense at a time when the company is pushing forward with efforts to develop its business model, as presented when the FY results were out. Interim revenues came in at € 1.7m (€ 2m estimated) vs € 0.4m. This mainly reflects the ramp-up of the Bouin production site. EBITDA stood at -€ 13.1m (-€ 15.6m estimated) vs -€ 14.3m, reflecting revenue growth and good cost control (external costs virtually ...
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
Lhyfe: H1 results, growth and cost control
Lhyfe has announced H1 2024 results highlighting revenue growth to EUR1.7m (vs cons. expectations at EUR9.1m FY24), and an EBITDA loss at EUR11.7m (vs cons. figure at -EUR30.2m FY24). This shows an improvement YoY with OPEX EUR3m lower than in H1 2023, mostly resulting from lower personnel expenses
- Jean-François Granjon
- Louis Boujard
- CFA
Lhyfe : Confirmation des objectifs moyen terme
>Des résultats semestriels proches de nos attentes - Les résultats semestriels ont peu de sens alors que la société poursuit ses développements avec une évolution de son modèle de développement comme présenté lors de la publication des résultats annuels. Le CA semestriel ressort à 1.7 M€ (2 M€ estimés) vs 0.4 M€. Il est principalement le reflet de la montée en puissance du site de production de Bouin. L’EBITDA ressort à -13.1 M€ (-15.6 M€ estimés) vs -14.3 M€ refléta...
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
Lhyfe: five-year offtake agreement with H2 Mobility
Lhyfe today announced it has signed a first long-term offtake agreement in Germany with H2 Mobility, the country's largest H2 refuelling station operator. Both partners have agreed on a five-year offtake contract representing a total volume of 1.2Kt over the period (i.e. 240t/year), with deliveries
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
Lhyfe: industrial cluster in sight with OX2 and Velarion
Lhyfe has announced the development of an industrial cluster driven by green hydrogen in Grönsta (Sweden), connecting the dots between OX2's wind power and Velarion's green fertiliser plans by deploying around 300MW of electrolysis capacity. As the project is only just entering the conceptual phase
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
Lhyfe: Exclusive partnership with Elyse Energy
This morning, Lhyfe announced a strategic partnership with Elyse Energy, a leading French project developer and producer of low-carbon molecules. This is a first-of-its-kind exclusive agreement between two pioneering developers, basically covering a FEED, ranging from technical to regulatory aspect
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
Lhyfe: EUR11m grant in Sweden
This morning, Lhyfe announced it has been awarded a grant of EUR11m by Klimatklivet, an investment programme supported by Sweden's Environmental Protection Agency, to build a 10MW green hydrogen production facility in Trelleborg (Sweden). Representing around 40% of the total investment cost, this g
- Jeremy Garnier
ODDO : ODDO BHF Nextcap Forum: Feedback from day three
>Feedback from 52 companies present on day three - Our 13th edition of the ODDO BHF Nextcap Forum takes place on June 4 and 5 in Paris, and on June 6 virtually. Following the third day, which took place yesterday virtually at our Paris office with 52 companies in attendance, we publish hereafter feedback for those companies present:Aedas HomesLhyfeAfyrenMaisons Du MondeAltamirMcPhy EnergyAltriMister SpexAtresmediaNein...
A1XEH4 CROSSJECT SA
TNG TRANSGENE SA
FGA FIGEAC AERO SA
BLC BASTIDE LE CONFORT MEDICAL SA
KCO KLOECKNER & CO SE
ALTR ALTRI SGPS SA
SWP SWORD GROUP SE
SRP SRP GROUPE SA
AUB AUBAY SA
NTG NETGEM SA
VLS VALNEVA SE
LNA LNA SANTE SA
KOF KAUFMAN & BROAD SA
FNAC FNAC DARTY SA
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
BAMNB KONINKLIJKE BAM GROEP NV
IDIP INSTITUT DE DEVELOPPEMENT INDUSTRIEL SCA
GREEN GREENYARD NV
MCPHY MCPHY ENERGY SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
ENC ENCE ENERGIA Y CELULOSA SA
LTA ALTAMIR ACT PORTEUR
INSD VERIMATRIX SA
SIFG SIF HOLDING NV
LRE LAR ESPANA REAL ESTATE SOCIMI SA
VLTSA VOLTALIA
HBH HORNBACH HOLDING AG & CO. KGAA
FFARM FORFARMERS
TRE TECNICAS REUNIDAS SA
PSG PROSEGUR COMPANIA DE SEGURIDAD SA
HOME NEINOR HOMES SA
MDM MAISONS DU MONDE SA
SMCP SMCP SA
AVTX AVANTIUM NV
RBO ROCHE BOBOIS INTERNATIONAL SAS
ALKAL KALRAY SA
AEDAS AEDAS HOMES SA
WAVE WAVESTONE SA
GRE GRENERGY RENOVABLES
THEP THERMADOR HOLDING SA
ALCUR ARCURE SA
TOM2 TOMTOM NV
CLA CLARANOVA SE
S30 SOLUTIONS 30 SE
ZEL PHARMA MAR SA
SOL SOLTEC POWER HOLDINGS
BLV BELIEVE SA
MRX MISTER SPEX SE
ALAFY AFYREN
FORSE FORSEE POWER SA
HDF HYDROGENE DE FRANCE
ALVGO VOGO SA
WAGA WAGA ENERGY SA
ALHAF HAFFNER ENERGY SA
EAPI EUROAPI
GVOLT GREENVOLT - ENERGIAS RENOVAVEIS S.A.
LHYFE LHYFE S.A.
- Jeremy Garnier
ODDO : ODDO BHF Nextcap Forum : Feedbacks 3ème journée
>Feedback de 52 sociétés présentes le 3ème jour - Notre 13ème édition du ODDO BHF Nextcap Forum a lieu les 4 et 5 juin en physique à Paris et le 6 juin en virtuel. Suite à la troisième journée qui a eu lieu hier en virtuel avec 53 de sociétés présentes, nous publions ci-après un feedback pour chacune des sociétés couvertes :Aedas HomesLhyfeAfyrenMaisons Du MondeAltamirMcphy EnergyAltriMister SpexAtresmediaNeinor Homes§...
TNG TRANSGENE SA
INF INFOTEL SA
FGA FIGEAC AERO SA
BLC BASTIDE LE CONFORT MEDICAL SA
KCO KLOECKNER & CO SE
ALTR ALTRI SGPS SA
SWP SWORD GROUP SE
SRP SRP GROUPE SA
AUB AUBAY SA
NTG NETGEM SA
VLS VALNEVA SE
LNA LNA SANTE SA
KOF KAUFMAN & BROAD SA
FNAC FNAC DARTY SA
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
BAMNB KONINKLIJKE BAM GROEP NV
IDIP INSTITUT DE DEVELOPPEMENT INDUSTRIEL SCA
GREEN GREENYARD NV
MCPHY MCPHY ENERGY SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
ENC ENCE ENERGIA Y CELULOSA SA
LTA ALTAMIR ACT PORTEUR
INSD VERIMATRIX SA
SIFG SIF HOLDING NV
LRE LAR ESPANA REAL ESTATE SOCIMI SA
VLTSA VOLTALIA
HBH HORNBACH HOLDING AG & CO. KGAA
FFARM FORFARMERS
TRE TECNICAS REUNIDAS SA
PSG PROSEGUR COMPANIA DE SEGURIDAD SA
HOME NEINOR HOMES SA
MDM MAISONS DU MONDE SA
SMCP SMCP SA
AVTX AVANTIUM NV
RBO ROCHE BOBOIS INTERNATIONAL SAS
ALKAL KALRAY SA
AEDAS AEDAS HOMES SA
WAVE WAVESTONE SA
GRE GRENERGY RENOVABLES
THEP THERMADOR HOLDING SA
ALCUR ARCURE SA
TOM2 TOMTOM NV
CLA CLARANOVA SE
S30 SOLUTIONS 30 SE
ZEL PHARMA MAR SA
SOL SOLTEC POWER HOLDINGS
BLV BELIEVE SA
MRX MISTER SPEX SE
ALAFY AFYREN
FORSE FORSEE POWER SA
ALVGO VOGO SA
WAGA WAGA ENERGY SA
ALHAF HAFFNER ENERGY SA
EAPI EUROAPI
GVOLT GREENVOLT - ENERGIAS RENOVAVEIS S.A.
LHYFE LHYFE S.A.
- Bruno Cavalier
- Emira Sagaama
- Stephane Beyazian
ODDO BHF Small & MIDCAP MORNING NEWS - 09/04/2024 Date Performance dep...
Nous réitérons notre recommandation Surperformance (conviction Midcap Europe) avec un objectif de cours et des prévisions de résultats relevés. L’optimisme est de rigueur sur les perspectives d’activité, les marges offrent encore un potentiel d’amélioration, le bilan est sous-leveragé, les multiples de valorisation restent attractifs et le fondateur achète des actions. - ...
ETL EUTELSAT COMMUNICATIONS SA
PROX PROXIMUS SA DE DROIT PUBLIC
ATO ATOS SE
KPN ROYAL KPN NV
ORA ORANGE SA
EN BOUYGUES SA
SDG SYNERGIE SA
UTDI UNITED INTERNET AG
GAMA GAMMA COMMUNICATIONS
BAMNB KONINKLIJKE BAM GROEP NV
DTE DEUTSCHE TELEKOM AG
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
ALFEN ALFEN NV
DRI 1&1 DRILLISCH AG
DEME DEME GROUP NV
LHYFE LHYFE S.A.
- Bruno Cavalier
- Emira Sagaama
- Stephane Beyazian
ODDO BHF Small & MIDCAP MORNING NEWS - 04/09/2024 Date Performance sin...
We reiterate our Outperform recommendation on the stock (European midcap top pick). We have revised up our target price and earnings forecasts. Bright prospects ahead for revenues, still room for margin improvement, the balance sheet is underleveraged, valuation multiples remain attractive and the founder is buying shares. - ...
ETL EUTELSAT COMMUNICATIONS SA
PROX PROXIMUS SA DE DROIT PUBLIC
ATO ATOS SE
KPN ROYAL KPN NV
ORA ORANGE SA
EN BOUYGUES SA
SDG SYNERGIE SA
UTDI UNITED INTERNET AG
GAMA GAMMA COMMUNICATIONS
BAMNB KONINKLIJKE BAM GROEP NV
DTE DEUTSCHE TELEKOM AG
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
ALFEN ALFEN NV
DRI 1&1 DRILLISCH AG
DEME DEME GROUP NV
LHYFE LHYFE S.A.
- Jean-François Granjon
- Louis Boujard
- CFA
Lhyfe : A less capital-intensive model that must prove its worth
>Market shift towards larger-scale projects - The group’s pipeline of projects is confirmed at a high level to currently stand at 9.9 GW of capacity. Some 60% of this backlog concerns industrial projects and 38% network-related projects. This is resulting in larger-scale projects of at least 100 MW. The projects currently under development are more particularly smaller-scale projects (2.5 MW for the Bouin site, 5/10 MW, etc.) intended for mobility. The needs of the ma...
- Jean-François Granjon
- Louis Boujard
- CFA
Lhyfe : Le modèle moins capitalistique doit faire ses preuves
>Une évolution du marché vers des projets de plus grande taille - Le pipeline des projets de la société est confirmé à un niveau élevé pour atteindre actuellement 9.9 GW de capacités. 60% de ce backlog concerne des projets industriels et 38% des projets liés aux réseaux. Cela se traduit par des projets de plus grande ampleur d’au moins 100 MW. Les projets actuellement en cours de développement concernent plus particulièrement des projets de plus petites dimensions (2....
- Andreas Riemann
- Jean Danjou
- Usama Tariq
ODDO BHF Small & MIDCAP MORNING NEWS - 03/28/2024
With the exception of the US, construction markets should continue to shrink in 2024 (-2% in Europe) before rebounding on the back of lower interest rates. Against this backdrop, groups will be differentiated mainly on the basis of their resilience (geographical and price/cost mix), capital allocation (and special situations) and valuation. In this context, we are upgrading our recommendations on KONE (modernisation as an alternative source of growth to China) and Holcim (a substantia...
OSE OSE IMMUNOTHERAPEUTICS SA
ZIL2 ELRINGKLINGER AG
SBS STRATEC SE
F3C SFC ENERGY AG
HCO HIGHCO SA
CGM CEGEDIM SA
VRAP VRANKEN-POMMERY MONOPOLE SA
LNA LNA SANTE SA
TRI TRIGANO SA
BCP BANCO COMERCIAL PORTUGUES S.A.
QDT QUADIENT SA
SESL SES-IMAGOTAG SA
BEZ BERENTZEN GRUPPE
ALBFR SIDETRADE SA
SMHN SUESS MICROTEC AG
JUN3 JUNGHEINRICH AG PREF
S92 SMA SOLAR TECHNOLOGY AG
RBO ROCHE BOBOIS INTERNATIONAL SAS
JEN JENOPTIK AG
KTA KNAUS TABBERT
INPST INPOST S.A.
MRX MISTER SPEX SE
LHYFE LHYFE S.A.
- Andreas Riemann
- Jean Danjou
- Usama Tariq
ODDO BHF Small & MIDCAP MORNING NEWS - 28/03/2024
Hormis les Etats-Unis, les marchés de la construction devraient continuer à reculer en 2024 (-2% en Europe) avant de rebondir à la faveur d’une baisse des taux. Dans ce contexte, la différenciation entre les groupes se fera essentiellement sur leur capacité de résistance (mix géographique et prix/ coûts), l’allocation du capital (et situations spéciales) et leur valorisation. Face à cet environnement, nous relevons nos recommandations sur KONE (la modernisation comme relais de la Chin...
OSE OSE IMMUNOTHERAPEUTICS SA
ZIL2 ELRINGKLINGER AG
SBS STRATEC SE
TNG TRANSGENE SA
F3C SFC ENERGY AG
HCO HIGHCO SA
CGM CEGEDIM SA
NTG NETGEM SA
VRAP VRANKEN-POMMERY MONOPOLE SA
LNA LNA SANTE SA
TRI TRIGANO SA
BCP BANCO COMERCIAL PORTUGUES S.A.
QDT QUADIENT SA
SESL SES-IMAGOTAG SA
BEZ BERENTZEN GRUPPE
ALBFR SIDETRADE SA
SMHN SUESS MICROTEC AG
JUN3 JUNGHEINRICH AG PREF
S92 SMA SOLAR TECHNOLOGY AG
RBO ROCHE BOBOIS INTERNATIONAL SAS
JEN JENOPTIK AG
KTA KNAUS TABBERT
INPST INPOST S.A.
MRX MISTER SPEX SE
LHYFE LHYFE S.A.
- Jean-François Granjon
- Louis Boujard
- CFA
Lhyfe : Introducing a new add-on model
>FY results close to our expectations - Lhyfe published FY revenues of € 1.3m, compared with € 0.6m in 2022, reflecting a gradual ramp-up of the first production unit to be commissioned (Bouin site). As expected, losses are significantly higher than the previous year, with EBITDA of -€ 28.1m (-€ 30.6m estimated, -€ 31.9m for consensus) vs -€ 16.3m YoY and operating profit of -€ 34.4m (-€ 31.6m estimated, -€ 35.4m for consensus) vs -€ 19.2m YoY, reflecting the company'...
- Jean-François Granjon
- Louis Boujard
- CFA
Lhyfe : Mise en place d’un nouveau modèle complémentaire
>Résultats annuels proches de nos attentes - Lhyfe a publié un CA annuel de 1.3 M€ vs 0.6 M€ en 2022, traduisant la montée en puissance progressive de la 1ère unité de production mise en service (site de Bouin). Comme attendu, les pertes sont sensiblement plus importantes que l’année précédente avec un EBITDA de -28.1 M€ (-30.6 M€ estimé, -31.9 M€ pour le css) vs -16.3 M€ YoY et un RO de -34.4 M€ (-31.6 M€ estimé, -35.4 M€ pour le css) vs -19.2 M€ YoY reflétant la pou...
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