reports
- Luis de Toledo Heras
ATO ATOS SE
NXI NEXITY SA CLASS A
FLY SOCIETE FONCIERE LYONNAISE SA
MF WENDEL SE
EXE EXEL INDUSTRIES SA
BIO BB BIOTECH AG
MERY MERCIALYS SA
ASY ASSYSTEM SA
WHA WERELDHAVE N.V.
SWP SWORD GROUP SE
CGM CEGEDIM SA
MTU MANITOU BF SA
FII LISI SA
GBT GUERBET SA
ATE ALTEN SA
FR VALEO SE
XIOR XIOR STUDENT HOUSING N.V.
COFB COFINIMMO SA
SAVE SAVENCIA SA
MBWS MARIE BRIZARD WINE & SPIRITS SA
VID VIDRALA SA
TIETO TIETOEVRY OYJ
VIS VISCOFAN S.A.
MONT MONTEA SCA
SIGHT GENSIGHT BIOLOGICS SA
WAF SILTRONIC AG
LIGHT SIGNIFY NV
NVG NAVIGATOR COMPANY SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
LFDE LA FRANCAISE DE L'ENERGIE SA
TEC TECHNIPFMC PLC
XFAB X-FAB SILICON FOUNDRIES SE
SPM SAIPEM S.P.A.
- Luis de Toledo Heras
ATO ATOS SE
NXI NEXITY SA CLASS A
FLY SOCIETE FONCIERE LYONNAISE SA
MF WENDEL SE
EXE EXEL INDUSTRIES SA
BIO BB BIOTECH AG
MERY MERCIALYS SA
ASY ASSYSTEM SA
WHA WERELDHAVE N.V.
SWP SWORD GROUP SE
CGM CEGEDIM SA
MTU MANITOU BF SA
FII LISI SA
GBT GUERBET SA
ATE ALTEN SA
FR VALEO SE
XIOR XIOR STUDENT HOUSING N.V.
COFB COFINIMMO SA
SAVE SAVENCIA SA
MBWS MARIE BRIZARD WINE & SPIRITS SA
VID VIDRALA SA
TIETO TIETOEVRY OYJ
VIS VISCOFAN S.A.
MONT MONTEA SCA
SIGHT GENSIGHT BIOLOGICS SA
WAF SILTRONIC AG
LIGHT SIGNIFY NV
NVG NAVIGATOR COMPANY SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
LFDE LA FRANCAISE DE L'ENERGIE SA
TEC TECHNIPFMC PLC
XFAB X-FAB SILICON FOUNDRIES SE
SPM SAIPEM S.P.A.
- Luis de Toledo Heras
Vidrala : 9M 2024 results reflect stable trends, FY 2024 guidance reit...
>Results in line with estimates, organic growth at 0.9% - Vidrala results came in line with estimates with 9M 2024 organic growth in sales of +0.9% (excluding FX and consolidation effects from the recent perimeter changes in Brazil and Italy) and EBITDA at € 338m (+3% vs ODDOe, +7% y-o-y) with EBITDA margin slightly above our estimates (27.8%, +90bp). At the organic level, EBITDA recorded a +4.3% y-o-y growth. EBITDA margin reflects the positive consolidation effects ...
- Ignacio Romero
- Ignacio Romero
- Luis de Toledo Heras
ODDO BHF Small & MIDCAP MORNING NEWS - 10/10/2024
Burckhardt Compression is a leading global supplier of compression solutions with a unique product offering (full range of reciprocating compressor technologies and services). It targets profitable growth with a 2022-2027e sales CAGR of 7.7% and a 2022-2027e EBIT CAGR of 12.1%. These prospects seem adequately discounted at our TP of CHF 612 reflecting historical and peer multiples. We initiate the coverage with a Neutral rating. - ...
- Luis de Toledo Heras
ODDO BHF Small & MIDCAP MORNING NEWS - 10/10/2024
Burckhardt Compression is a leading global supplier of compression solutions with a unique product offering (full range of reciprocating compressor technologies and services). It targets profitable growth with a 2022-2027e sales CAGR of 7.7% and a 2022-2027e EBIT CAGR of 12.1%. These prospects seem adequately discounted at our TP of CHF 612 reflecting historical and peer multiples. We initiate the coverage with a Neutral rating. - ...
- Luis de Toledo Heras
Vidrala : Q3 earnings preview: organic growth still subdued by volume ...
>Organic growth constrained by price adjustments and weak demand - Vidrala will release 9M 2024 figures on 25 October. We expect a continuation of the trends observed in H1 2024 with weak volumes, mostly in Iberia which could still reflect a decline on a y-o-y basis (-1%e in H1 2024), and stable prices (-7.5%e y-o-y) resulting in very limited organic growth in revenues (+0.3%e vs +0.7% in H1 2024), complemented by scope change effects (+2.8% in H1 2024) and favourabl...
Vidrala S.A.: 1 director
A director at Vidrala S.A. bought 5,000 shares at 97.794EUR and the significance rating of the trade was 66/100. 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 clearly s...
- Jerôme Bodin
IPS IPSOS
SOP SOPRA STERIA GROUP SA
ROG ROCHE HOLDING LTD
EO FAURECIA SA
NOVN NOVARTIS AG
CEN GROUPE CRIT SA
SDG SYNERGIE SA
MERY MERCIALYS SA
VIV VIVENDI SE
AUB AUBAY SA
NRG NRJ GROUP SA
FNAC FNAC DARTY SA
HOT HOCHTIEF AG
ACX ACERINOX SA
BAMNB KONINKLIJKE BAM GROEP NV
SAN SANOFI
ELIS ELIS SA
MAREL MAREL HF.
VASTN VASTNED RETAIL NV
VID VIDRALA SA
AIXA AIXTRON SE
ARCAD ARCADIS NV
ALVIV VISIATIV SA
AALB AALBERTS N.V.
CARM CARMILA SAS
LOG COMPANIA DE DISTRIBUCION INTEGRAL LOGISTA HOLDINGS S.A.
WAF SILTRONIC AG
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
ARG ARGAN SA
SIFG SIF HOLDING NV
ASS APPLUS SERVICES S.A.
VLTSA VOLTALIA
AZN ASTRAZENECA PLC
ECONT ECONOCOM GROUP SE CLASS D
BFSA BEFESA SA
PWG PRODWAYS GROUP SA
VOS VOSSLOH AG
WAVE WAVESTONE SA
S30 SOLUTIONS 30 SE
VRLA VERALLIA SAS
TCH TECHNICOLOR SA
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
FUR FUGRO NV
FORSE FORSEE POWER SA
MTRK MOTORK LTD
ALVGO VOGO SA
IVG IVECO GROUP
SPM SAIPEM S.P.A.
GSK GSK PLC
AF AIR FRANCE - KLM
NOVO B NOVO NORDISK A/S
- Jerôme Bodin
IPS IPSOS
SOP SOPRA STERIA GROUP SA
ROG ROCHE HOLDING LTD
EO FAURECIA SA
NOVN NOVARTIS AG
CEN GROUPE CRIT SA
SDG SYNERGIE SA
MERY MERCIALYS SA
VIV VIVENDI SE
AUB AUBAY SA
NRG NRJ GROUP SA
FNAC FNAC DARTY SA
HOT HOCHTIEF AG
ACX ACERINOX SA
BAMNB KONINKLIJKE BAM GROEP NV
SAN SANOFI
ELIS ELIS SA
MAREL MAREL HF.
VASTN VASTNED RETAIL NV
VID VIDRALA SA
AIXA AIXTRON SE
ARCAD ARCADIS NV
ALVIV VISIATIV SA
AALB AALBERTS N.V.
CARM CARMILA SAS
LOG COMPANIA DE DISTRIBUCION INTEGRAL LOGISTA HOLDINGS S.A.
WAF SILTRONIC AG
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
ARG ARGAN SA
SIFG SIF HOLDING NV
ASS APPLUS SERVICES S.A.
VLTSA VOLTALIA
AZN ASTRAZENECA PLC
ECONT ECONOCOM GROUP SE CLASS D
BFSA BEFESA SA
PWG PRODWAYS GROUP SA
VOS VOSSLOH AG
WAVE WAVESTONE SA
S30 SOLUTIONS 30 SE
VRLA VERALLIA SAS
TCH TECHNICOLOR SA
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
FUR FUGRO NV
FORSE FORSEE POWER SA
MTRK MOTORK LTD
ALVGO VOGO SA
IVG IVECO GROUP
SPM SAIPEM S.P.A.
GSK GSK PLC
AF AIR FRANCE - KLM
NOVO B NOVO NORDISK A/S
- Luis de Toledo Heras
Vidrala : Resilient profitability in a tougher demand environment in I...
>Results in line with estimates with limited organic growth contribution - Vidrala’s H1 2024 results were fully in line with our estimates with very limited organic growth contribution in H1 2024 (+0.7% in Sales) and a negative organic EBITDA evolution (-2.4%, fully attributable to Iberia), which was offset by positive scope effects (+2.8% in sales and +6.1% at EBITDA) following the consolidation of Vidroporto in Brazil and the divestment of Italy. Iberia recorded a s...
- Ignacio Romero
VIDRALA: 1H’24 RESULTS (ANÁLISIS BANCO SABADELL)
2Q'24 vs. 2Q'23 Results Sales: € 411.0 M (-1.4% vs. -2.0% BS(e)); EBITDA: € 115.2 M (+0.6% vs. +0.6% BS(e)); Net Profit: € 68.41 M (-2.4% vs. -10.7% BS(e)); 1H'24 vs. 1H'23 Results Sales: € 830.4 M (+4.5% vs. +4.2% BS(e)); EBITDA: € 225.0 M (+4.6% vs. +4.6% BS(e)); Net Profit: € 120.79 M (-6.1% vs. -10.6% BS(e));
- Research Department
IBERIAN DAILY 18 JULY + 2Q’24 RESULTS. HIGHLIGHTS AND REST OF PREVIEWS...
NEWS SUMMARY: RESULTS HIGHLIGHTS. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 2Q’24 results to be released over the coming days in Spain. Trade and Technology war once again shakes the markets It was another session of losses in Europe, awaiting today’s ECB meeting and the possible indications on future interest rate cuts. Meanwhile, the drops in the technology sector stee...
- Luis de Toledo Heras
ODDO BHF Small & MIDCAP MORNING NEWS - 07/09/2024
SES, the world’s third-largest satellite group, chose to double in size and to reinvigorate its growth thanks to satellite connectivity markets, with the acquisition of Intelsat (EV of € 4.6bn). This report addresses the challenges facing SES shareholders: (1) the current discount on the stock in connection with the satellite capacity currently being deployed (+800%) by Starlink and new low orbit constellations (LEO), (2) the valuation and growth outlook following the acquisition; an...
- Luis de Toledo Heras
ODDO BHF Small & MIDCAP MORNING NEWS - 09/07/2024
SES, the world’s third-largest satellite group, chose to double in size and to reinvigorate its growth thanks to satellite connectivity markets, with the acquisition of Intelsat (EV of € 4.6bn). This report addresses the challenges facing SES shareholders: (1) the current discount on the stock in connection with the satellite capacity currently being deployed (+800%) by Starlink and new low orbit constellations (LEO), (2) the valuation and growth outlook following the acquisition; an...
- Luis de Toledo Heras
Vidrala : Q2 earnings preview: resilient profitability in a tougher en...
>Q2 2024 results preview - Vidrala will release Q2 2024 earnings later in July. We estimate sales to marginally increase on a sequential and y-o-y basis as the capacity expansion in Brazil (+35%e in 2024e, with volumes potentially increasing +50% y-o-y) compensates the deconsolidation of Italy (8.4% of sales in 2023) and the declining prices (-7.5% 2024e). We expect the EBITDA margin to beat Q2 2023 levels and reach 27.7% thanks to the profitability resilience at Iber...
- Jean Danjou
- Oliver Metzger
- Thomas Zlowodzki
A1XEH4 CROSSJECT SA
TFI TELEVISION FRANCAISE 1 SA
ISS ISS A/S
NRG NRJ GROUP SA
ALTA ALTAREA SCA
BOSS HUGO BOSS AG
G24 SCOUT24 AG
BAMNB KONINKLIJKE BAM GROEP NV
GLB GLANBIA PLC
SAVE SAVENCIA SA
FIE FIELMANN AG
VID VIDRALA SA
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
AED AEDIFICA SA
BEZ BERENTZEN GRUPPE
WAF SILTRONIC AG
TWEKA TKH GROUP N.V. CERT
OREGE OREGE SA
LNSX SIXT LEASING AG
FFARM FORFARMERS
MVC METROVACESA SA
VOS VOSSLOH AG
NEOEN NEOEN S.A.
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
TE TECHNIP ENERGIES NV
C3RY CHERRY AG
- Jean Danjou
- Oliver Metzger
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 02/05/2024
Nous sortons GALP de notre liste ODDO BHF European Large Caps. La valeur a réalisé une performance de +31,3% depuis son entrée le 20 mars dernier. Notre analyste adopte ce jour une opinion Neutre (vs Surperformance) sur la valeur qui a atteint notre objectif de cours. - ...
A1XEH4 CROSSJECT SA
TFI TELEVISION FRANCAISE 1 SA
ISS ISS A/S
NRG NRJ GROUP SA
ALTA ALTAREA SCA
BOSS HUGO BOSS AG
G24 SCOUT24 AG
BAMNB KONINKLIJKE BAM GROEP NV
GLB GLANBIA PLC
SAVE SAVENCIA SA
FIE FIELMANN AG
VID VIDRALA SA
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
AED AEDIFICA SA
BEZ BERENTZEN GRUPPE
WAF SILTRONIC AG
TWEKA TKH GROUP N.V. CERT
OREGE OREGE SA
LNSX SIXT LEASING AG
FFARM FORFARMERS
MVC METROVACESA SA
VOS VOSSLOH AG
NEOEN NEOEN S.A.
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
TE TECHNIP ENERGIES NV
C3RY CHERRY AG
- Luis de Toledo Heras
Vidrala : 2024 guidance reflects more supportive pricing environment a...
>Q1 2024 results above estimates on strong contribution from Brazil - Vidrala’s Q1 2024 results came a touch above our estimates favoured by strong inorganic growth (+7.9% in sales and +12% in EBITDA on the full consolidation of Vidroporto) as organic contribution was limited to +1.4% in sales and detracted -4.7% in EBITDA. EBITDA margin stands at 26.2% (40bp contraction) compared to our 25% estimate thanks to the strong contribution from Brazil (42.7% EBITDA margin) ...
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