reports
AMS AMS AG
SZG SALZGITTER AG
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
WOLF SOCIETE LDC SOCIETE ANONYME
ALKAL KALRAY SA
JEN JENOPTIK AG
UPG UNIFIEDPOST GROUP
ARM ARM HOLDINGS PLC
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/05/2024
Professional activities are a support factor for organic growth and the sales mix should boost profitability. The regularity and strength of FCF coupled with a sound balance sheet (ND/EBITDA 1.6x) are additional advantages for expanding through acquisitions. We are reiterating our Outperform opinion and our target price of € 140. - ...
AMS AMS AG
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
FDR FLUIDRA S.A.
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
SHEL SHELL PLC
ARM ARM HOLDINGS PLC
AMS AMS AG
SZG SALZGITTER AG
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
WOLF SOCIETE LDC SOCIETE ANONYME
ALKAL KALRAY SA
JEN JENOPTIK AG
UPG UNIFIEDPOST GROUP
ARM ARM HOLDINGS PLC
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 05/07/2024
Les activités professionnelles constituent un facteur de soutien à la croissance organique et un mix favorable à la hausse de la profitabilité. La régularité et l’importance du FCF couplées à une situation bilancielle déjà saine (DN/EBITDA 1.6x) sont des atouts supplémentaires pour se renforcer par acquisition. Nous réitérons notre opinion Surperformance et OC à 140 € - ...
AMS AMS AG
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
FDR FLUIDRA S.A.
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
SHEL SHELL PLC
ARM ARM HOLDINGS PLC
- Martin Marandon-Carlhian
- Stephane Houri
Aixtron SE : Preliminary Q2 2024 results and 2024 guidance reset shoul...
>Preliminary Q2 2024 results in line on sales, below on the EBIT margin, but 25% above on order intake, with SiC the main contributor - This morning, Aixtron reported its preliminary Q2 2024 results. In Q2 2024, revenues were € 132m, in line with expectations (guidance € 120-140m, cons. € 134m). However, the EBIT margin was much lower than expected at ~10% with EBIT at € 13m, while the consensus was closer to 20% (EBIT of € 26m). We do not have the cost details, but i...
- Martin Marandon-Carlhian
- Stephane Houri
Aixtron SE : Preliminary Q2 2024 results and 2024 guidance reset shoul...
>Preliminary Q2 2024 results in line on sales, below on the EBIT margin, but 25% above on order intake, with SiC the main contributor - This morning, Aixtron reported its preliminary Q2 2024 results. In Q2 2024, revenues were € 132m, in line with expectations (guidance € 120-140m, cons. € 134m). However, the EBIT margin was much lower than expected at ~10% with EBIT at € 13m, while the consensus was closer to 20% (EBIT of € 26m). We do not have the cost details, but i...
- Martin Marandon-Carlhian
- Stephane Houri
ODDO : Sales in May 2024 > forecasts, driven by memory, we still prefe...
>Worldwide sales in May 2024 > forecasts, up 18.3% y-o-y vs +15.8% in April - Worldwide semiconductor sales in May 2024 were published by the WSTS (World Semiconductor Trade Statistics) the usual one-month lag. On a three-month moving average, they were $ 48.7bn, above our forecast of $ 47.3bn, revealing a sequential increase of 4.9% and a fresh improvement in annual growth to +18.3%, after 15.8% in April. Strong growth continues in memory, better in aut...
AMS AMS AG
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
ARM ARM HOLDINGS PLC
- Martin Marandon-Carlhian
- Stephane Houri
ODDO : Ventes de mai 2024 > aux attentes tirées par la mémoire, nous m...
>Ventes mondiales de mai 2024 > aux attentes à 18.3% yoy vs +15.8% en avril - Les ventes mondiales de semiconducteurs de mai 2024 ont été publiées par WSTS (World Semiconductor Trade Statistics), avec (comme toujours) un mois de décalage. En donnée lissées (moyenne de 3 mois), elles ressortent à 48,7 Md$, supérieures à notre prévision à 47.3 Md$, Il s’agit d’une hausse en séquentiel de 4,9% et d’une nouvelle amélioration de la croissance annuelle à +18.3%, après 15.8%...
AMS AMS AG
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
ARM ARM HOLDINGS PLC
EQS-News: AIXTRON reports preliminary Q2/2024 results with strong orde...
EQS-News: AIXTRON SE / Key word(s): Change in Forecast/Preliminary Results AIXTRON reports preliminary Q2/2024 results with strong order intake. Momentum in SiC and GaN power continues. Guidance for 2024 adjusted. 04.07.2024 / 23:17 CET/CEST The issuer is solely responsible for the content of this announcement. AIXTRON reports preliminary Q2/2024 results with strong order intake. Momentum in SiC and GaN power continues. Guidance for 2024 adjusted. Herzogenrath, July 4, 2024 – AIXTRON SE (FSE: AIXA, ISIN DE000A0WMPJ6) is reporting preliminary results for the second qua...
EQS-News: AIXTRON SE berichtet vorläufige Q2/2024 Ergebnisse mit stark...
EQS-News: AIXTRON SE / Schlagwort(e): Prognoseänderung/Vorläufiges Ergebnis AIXTRON SE berichtet vorläufige Q2/2024 Ergebnisse mit starkem Auftragseingang. Die Dynamik bei SiC- und GaN-Power setzt sich fort. Prognose für 2024 angepasst. 04.07.2024 / 23:17 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. AIXTRON SE berichtet vorläufige Q2/2024 Ergebnisse mit starkem Auftragseingang. Die Dynamik bei SiC- und GaN-Power setzt sich fort. Prognose für 2024 angepasst. Herzogenrath, 04. Juli 2024 - AIXTRON SE (FSE: AIXA, ISIN DE000A0WMPJ6)...
FORVIA : Nombre total de droits de vote et d'actions composant le capi...
FORVIA : Nombre total de droits de vote et d'actions composant le capital social Nanterre, le 4 juillet 2024 Nombre total de droits de vote et d’actions composant le capital (Article L. 233-8 II du Code de commerce et article 223-16 du Règlement général de l’Autorité des marchés financiers)__________________ Place de cotation : Euronext Paris Compartiment : A Code ISIN : FR0000121147 Code LEI : 969500F0VMZLK2IULV85 DateNombre d’actionsNombre total de droits de vote (théoriques) (1)30 juin 2024197 089 340227 779 660 (1) Conformément aux dispositions de l’article 223-11 du R...
- Emmanuel Matot
- Jean Danjou
- Oliver Metzger
ODDO BHF Small & MIDC AP MORNING NEWS - 07/02/2024
The ‘quality growth’ ODDO BHF London Forum took place last week with 20 companies from Germany, Benelux, Spain and France in attendance. We organised 289 meetings, with around 100 investors. Going into the Q2 2024 earnings season, the stance was, unsurprisingly, largely in line with recent statements. But we were favourably impressed by CIE Automotive, ID Logistics (target price raised to € 410 vs € 380), Spie, TKH, Fugro and Lectra. We have adjusted our forecasts for five companies (...
- Emmanuel Matot
- Jean Danjou
- Oliver Metzger
ODDO BHF Small & MIDCAP MORNING NEWS - 02/07/2024
Le ODDO BHF London Forum ‘quality growth’ s’est déroulé la semaine dernière avec 20 sociétés allemandes, du Bénélux, espagnoles ou françaises. Nous avons organisé 289 meetings, avec une centaine d’investisseurs. A l’approche des résultats du T2 2024, les discours ont, sans surprise, peu dévié des communications récentes. Mais, nous avons été favorablement impressionnés par CIE Automotive, ID Logistics (OC relevé à 410 € vs 380 €), Spie, TKH, Fugro et Lectra. Nous avons modifié nos pré...
- Thijs Berkelder
SIF : New factory start-up in July: harvesting season to start in 2025
>2025e/26e EBITDA estimates up by 5%/12% - Following last weeks’ site visit to the factory expansion project at the Maasvlakte, near Rotterdam, and the confirmation that Sif now has signed a new large transition piece contract for 2025 (100 TPs for Baltyk 2&3 = 30 kt), and expects to sign new monopile contracts for 2026 before end of the year, we today are upgrading our estimates for the coming years.Prime reason for the rise in our 2024e earnings estimates is th...
- Bruno Cavalier
- Thijs Berkelder
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 07/01/2024
By calling a snap election in the hope of bringing a majority of voters back to a centrist bloc, Emmanuel Macron has gambled with the Constitution. And he lost. Yesterday's election, marked by a jump in turnout (+20pt vs 2022), confirmed the dominance of the National Rally (RN). There are now two possible scenarios. One is an absolute majority for the RN, enabling it to "conduct the nation's policy"... until a possible dissolution in a year's time. The other is a divided parliament, f...
- Bruno Cavalier
- Thijs Berkelder
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 01/07/2024
En provoquant des élections anticipées dans l’espoir de ramener une majorité d’électeurs vers un bloc centriste, Emmanuel Macron a joué avec la Constitution. Il a perdu. L’élection d’hier marquée par un bond de la participation (+20pts vs 2022) a confirmé la domination du Rassemblement National. Deux scénarios subsistent. L’un est une majorité absolue pour le RN lui permettant de "conduire la politique de la nation"… jusqu’à une possible dissolution dans un an. L’autre est une parleme...
- Cedric Rossi
- Clement Genelot
- Loic Morvan
- Paul Rouviere
- Philippine Adam
On the shelves now: Consumer weekly #35
In this Consumer Weekly newsletter, we provide a brief overview of the key factors affecting our Consumer coverage, from Luxury & Consumer goods to Retail & E-commerce and Food & Ingredients. This week, we look at the political uncertainty that is clearly set to drive stock markets unti
- Thijs Berkelder
SIF : Expansion project still on track
>Feedback site visit + management Q&A - On Friday June 28 Sif organised a sell-side analyst site visit to the newly expanded factory on the Maasvlakte near Rotterdam, starting up with a presentation by CEO Fred van Beers, CFO Ben Meijer, project integration manager Jeroen Talsma and IR Fons van Lith. Main topics discussed: Order intake. Sif indicates it is very close to signing a large transition piece contract with will fill the occupancy of the Roermond plant in 202...
- Guy Sips
- Hilde Van Boxstael
- Kristof Samoy
- Wim Lewi
- Nicolas David
ODDO BHF Small & MIDCAP MORNING NEWS - 06/26/2024
Our conviction on the long-term growth potential and opportunities of generative AI is renewed. The enabler sectors (semiconductors, software and IT services) and those that provide the infrastructure (utilities, metals, capital goods and real estate) will be the primary beneficiaries, leading us to make certain target price changes. Among AI ‘user’ sectors (media, healthcare, automotive, banking and insurance, oil services, defence, aerospace and airlines), the effects will doubtless...
ATO ATOS SE
ACN ACCENTURE PLC CLASS A
INF INFOTEL SA
ASY ASSYSTEM SA
SQI SQLI SA
SWP SWORD GROUP SE
AUB AUBAY SA
ATE ALTEN SA
ACX ACERINOX SA
CAP CAPGEMINI SE
VRNL VERNEUIL PARTICIPATIONS
CTAC CTAC N.V.
TIETO TIETOEVRY OYJ
COK CANCOM SE
BC8 BECHTLE AG
ADN1 ADESSO AG
TWEKA TKH GROUP N.V. CERT
HBH HORNBACH HOLDING AG & CO. KGAA
IDR INDRA SISTEMAS S.A. CLASS A
ECONT ECONOCOM GROUP SE CLASS D
REY REPLY S.P.A.
ALFEN ALFEN NV
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
FQT FREQUENTIS AG WIENER
NA9 NAGARRO
EXN EXCLUSIVE NETWORKS SA
OVH OVH GROUPE
EBUS EBUSCO HLDG NV
IOS IONOS GROUP SE
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