JCDecaux : Q1 2024 – Business review Q1 2024 – Business review Paris, May 17th, 2024 – JCDecaux SE (Euronext Paris: DEC), the number one outdoor advertising company worldwide, published today this report for the three months ended March 31st, 2024. FIRST QUARTER 2024: BUSINESS HIGHLIGHTS Key contracts wins Asia-Pacific In January, JCDecaux SE announced that JCDecaux Pearl & Dean, a 100% sister company has won the renewal of its exclusive advertising contracts with MTR Corporation for the operation and management of advertising across a total of eight MTR* lines in...
JCDecaux : Information trimestrielle du 1er trimestre 2024 Information trimestrielle du 1er trimestre 2024 Paris, le 17 mai 2024 – JCDecaux SE (Euronext Paris : DEC), numéro un mondial de la communication extérieure, a publié ce jour la présente information trimestrielle pour le 1er trimestre 2024. FAITS MARQUANTS DU 1er TRIMESTRE 2024 Principaux contrats remportés Asie-Pacifique En janvier, JCDecaux SE a annoncé que JCDecaux Pearl & Dean, s...
As the world leader in logistics, DHL operates in 220 countries via 5 main activities (post and parcels in Germany, Express, freight forwarding, supply chain and e-commerce). Despite buoyant structural trends (global trade, e-commerce, outsourcing of logistics chains), we are initiating coverage with a Neutral rating and target price of € 43 in the absence of short-term visibility on the global macro environment and due to the risk of a consensus downgrade. - ...
>Results above our forecast with strong contribution in Flex Gen and GEMS - Engie released this morning Q1 2024 results that beat expectations. EBITDA came in at € 5.4bn, (-0.7% organic) above our expectation (at € 5,085m). EBIT was down -1.6% organic to € 4,166m vs € 3,835m expected. By division, the renewable segment reported € 712m (+4.3% y-o-y in organic terms, vs ODDO BHF at € 800m), benefiting from very good hydro conditions in France and Portugal and commissio...
>Results above our forecast with strong contribution in Flex Gen and GEMS - Engie released this morning Q1 2024 results that beat expectations. EBITDA came in at € 5.4bn, (-0.7% organic) above our expectation (at € 5,085m). EBIT was down -1.6% organic to € 4,166m vs € 3,835m expected. By division, the renewable segment reported € 712m (+4.3% y-o-y in organic terms, vs ODDO BHF at € 800m), benefiting from very good hydro conditions in France and Portugal and commissio...
Ahold Delhaize: Walmart 1Q24/25 results. Azelis: Share placement by EQT and PSP. Belgian telcos: Digi mobile prices to be well below competition, targets 10% mkt share. EVS: Slow start, sales guidance held on strong pipeline, EBIT guidance below consensus. Exmar: Stable start to the year. Prosus: Fabricio Bloisi (CEO iFood) appointed as group CEO. Sif Group: 1Q24 pretty much in line, timing shifts a bit
>Very satisfactory operating performance (FFO / share at € 0.15) - Yesterday evening Merlin Properties reported a very satisfactory operating performance in Q1 2024 with FFO/share at € 0.15 (-4.4% y-o-y in line with expectations due to the launch of data centres and higher financial costs) which includes overall growth at constant scope (l-f-l) of +3.8% in gross rental income, an occupancy rate of 95.8% (+100bp y-o-y; -40bp q-o-q) and positive reversion in its three ...
>Performance opérationnelle (FFO / action à 0.15 €) très satisfaisante - Merlin Properties a publié hier soir, une performance opérationnelle très satisfaisante sur le T1 2024 avec un FFO /action à 0.15 € (-4.4% yoy en ligne avec les attentes en raison du lancement des datacenters et des coûts financiers plus élevés) qui inclut une croissance globale à périmètre constant (lfl) de 3.8% de ses revenus locatifs bruts, un taux d’occupation à 95.8% (+100 pb yoy ; -40 pb qo...
NEWS SUMMARY: BANKING SECTOR, CELLNEX, COLONIAL, FCC, GRIFOLS, MERLIN PROPERTIES, OHLA. European stock markets pause for a break European stock markets saw moderate corrections after several sessions of gains that led the Stoxx 600 to record highs and the Ibex to 2015 highs above 11,300 pints. In the STOXX 600, Insurance and Basic Resources were the best performers vs. the losses of Autos and industrials. On the macro side, in the US, April’s industrial output stagnated, contrary to expectatio...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CELLNEX, COLONIAL, FCC, MERLIN PROPERTIES, GRIFOLS, OHLA, SECTOR BANCARIO ESPAÑA. EUROPA: PROSUS. Respiro en las bolsas europeas Jornada de pérdidas moderadas en Europa, tras varios días de subidas que han llevado al STOXX 600 a máximos históricos y al Ibex a máximos de 2015, superando los 11.300 puntos. Dentro del STOXX 600, Seguros y R. Básicos mostraron el mejor comportamiento frente a las pérdidas de Autos e Industriales. Desde la macro, en la E...
We have tactically downgraded the energy sector from Overweight to Neutral (excl. oil services on which we are maintaining our Overweight rating) and dropped Shell Plc from our Large Caps list. The IEA report has accelerated the downswing for the energy sector, which could continue in the days ahead. June will be a better month to come back to the sector. - ...
We have tactically downgraded the energy sector from Overweight to Neutral (excl. oil services on which we are maintaining our Overweight rating) and dropped Shell Plc from our Large Caps list. The IEA report has accelerated the downswing for the energy sector, which could continue in the days ahead. June will be a better month to come back to the sector. - ...
Nous dégradons tactiquement à Neutre le secteur de l’énergie (hors Services Pétroliers sur lesquels nous conservons une opinion Surperformance) et faisons sortir Shell plc de notre liste Large Caps. Le rapport AIE a accéléré la baisse du secteur énergie, qui pourrait se poursuivre dans les jours qui viennent. Juin sera un meilleur mois pour revenir sur le secteur. - ...
Nous dégradons tactiquement à Neutre le secteur de l’énergie (hors Services Pétroliers sur lesquels nous conservons une opinion Surperformance) et faisons sortir Shell plc de notre liste Large Caps. Le rapport AIE a accéléré la baisse du secteur énergie, qui pourrait se poursuivre dans les jours qui viennent. Juin sera un meilleur mois pour revenir sur le secteur. - ...
>Upside is limited following the recent increase in the share price - We upgraded our recommendation for JCDecaux from Neutral to Outperform on 11 September 2023. Since this date the share price has gained 34%. Our target price now stands at € 23/share, revealing limited upside of 8%. For this reason we are downgrading our recommendation to Neutral (vs Outperform). Momentum remains favourable, notably in Europe and in France (thanks to the Olympic Games). Organic gr...
>Suite à la hausse récente du titre, le potentiel de revalorisation est limité - Nous avions relevé notre recommandation de Neutre à Surperformance sur JCDecaux le 11/09/2023. Depuis cette date, le cours a progressé de 34%. Notre valorisation de 23 € / action, fait désormais ressortir un potentiel limité de 8%. Pour cette raison, nous dégradons notre recommandation à Neutre (vs Surperformance). Le momentum reste bon, notamment en Europe et en France (grâce au JO). La...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, ACCIONA ENERGÍA, CAIXABANK, IAG, NATURGY, TELEFÓNICA. EUROPA: DEUTSCHE TELEKOM, ENI, SIEMENS. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 1T’24 que se publicarán en España y Europa en los próximos días. Las bolsas siguen de fiesta Nueva jornada de avances, con el Ibex liderando y consolidando má...
>Ahold Delhaize’s strategy days set across two days in the Netherlands - Ahold Delhaize will host strategy days on 22 and 23 May. On the first day, there are two options. Option one is tours of the Mechanised Albert Heijn Home Shop Centre in Barendrecht and the BOL fulfilment Centre in Waalwijk (09:45-18:00). Option two is a sustainability event (14:00-16:30). The second day consists of tours of the Albert Heijn Distribution Centre in Zaandam and the Albert Heijn XL ...
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