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.
- Juan Ros-Padilla
Viscofan : Q3 EBITDA a touch above. FY 2024 earnings guidance nuanced ...
>Casings bounce-back is a bit timid but solid margins save the day. - The group’s Q3 operating results were a touch above our estimates and the consensus (EBITDA +18% reported, +11%cc vs +3%cc in Q2), with sales evolving in line with expectations (+5%) yet unable to offset the soft evolution seen in H1 2024 (-6%). All regions improved sequentially their sales momentum in the quarter, with NA and EMEA posting the strongest evolution (NA+`5% vs -3% in Q2 and EMEA +8% vs...
- Rafael Bonardell
VISCOFAN: 3Q’24 RESULTS AND T.P. UPGRADE (ANÁLISIS BANCO SABADELL)
3Q'24 vs. 3Q'23 Results Sales: € 305.11 M (+2.5% vs. +4.2% BS(e) and +4.8% consensus); EBITDA: € 74.8 M (+18.3% vs. +10.7% BS(e) and +15.4% consensus); 9M'24 vs. 9M'23 Results Sales: € 898.25 M (-3.0% vs. -2.5% BS(e) and -2.3% consensus); EBITDA: € 206.41 M (+7.1% vs. +4.6% BS(e) and +6.2% consensus);
- Rafael Bonardell
VISCOFAN: RDOS. 3T’24 Y CAMBIO DE P.O. AL ALZA (ANÁLISIS BANCO SABADEL...
Rdos. 3T'24 vs 3T'23: Ventas: 305,11 M euros (+2,5% vs +4,2% BS(e) y +4,8% consenso); EBITDA: 74,8 M euros (+18,3% vs +10,7% BS(e) y +15,4% consenso). Rdos. 9meses'24 vs 9meses'23: Ventas: 898,25 M euros (-3,0% vs -2,5% BS(e) y -2,3% consenso); EBITDA: 206,41 M euros (+7,1% vs +4,6% BS(e) y +6,2% consenso).
- Research Department
IBERIAN DAILY 24 OCTOBER + 3Q’24 RESULTS. HIGHLIGHTS AND REST OF PREVI...
NEWS SUMMARY: IBERDROLA, ROVI, VISCOFAN. 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 3Q’24 results to be released over the coming days in Spain. IBEX leading the way once again It was a negative session on both sides of the Atlantic, except for the IBEX, in another day with all eyes on results. In the Stoxx 600, most of the sectors (15/20) ended with losses, led by Basic Ma...
- Research Department
INFORME DIARIO 24 0CTUBRE + RDOS. ESPAÑA Y EUROPA 3T’24. IDEAS DESTACA...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: IBERDROLA, ROVI, VISCOFAN. EUROPA: DANONE, DEUTSCHE TELEKOM, KERING, 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. 3T’24 que se publicarán en España y Europa en los próximos días. El Ibex volvió a liderar Jornada negativa a ambos lados del Atlántico salvo para el Ibex en una nueva sesión descarg...
- Julian Dobrovolschi
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 11/10/2024
Les mesures annoncées par Michel Barnier correspondent à une augmentation de l’impôt sur les sociétés pour les 2 prochaines années de 31% (+773 pb) pour les entreprises réalisant plus de 3 Md€ de CA en France et de 15,5% (+258 pb) pour celles avec un CA France entre 1 et 3 Md€. L’impact sera négatif pour les actions françaises, en particulier pour les plus grandes capitalisations avec un CA France > 3 Md€ et une base fiscale française importante. - ...
- Julian Dobrovolschi
- Luis de Toledo Heras
- Philippe Ourpatian
- Thomas Zlowodzki
ODDO BHF Sm all & MIDCAP MORNING NEWS - 10/11/2024
The measures announced by Michel Barnier correspond to a Corporate Tax increase on companies for the next two years of 31% (+773bp) for companies generating more than € 3bn in revenues in France and 15.5% (+258bp) for those generating revenues in France between € 1bn and € 3bn. The impact will be negative for French equities, in particular for the largest capitalisations with France revenues in excess of € 3bn and a significant French tax base. - ...
- Juan Ros-Padilla
Viscofan : Q3 preview: exiting destocking more slowly
>Operating momentum improving… - The company is due to report its Q3 2023 results on 23 October before the market opens. We expect total sales to grow 2% y-o-y to € 304m (vs -5% in Q2 and -6% in Q1) with some momentum improvement as the destocking seen in previous quarters starts to fade. At the EBITDA level, we expect a y-o-y improvement of +13% to € 71m (vs +4% in Q2), materially better than the top-line trend as raw material/energy deflation starts to surface, offs...
- Rafael Bonardell
VISCOFAN: PRE 3T’24 - POTENCIAL REVISIÓN DE OBJETIVOS’24 (ANÁLISIS BAN...
Pre Rdos. 3T'24: potencial revisión a la baja de objetivos'24. SOBREPONDERAR A pesar de que se esperaba una mejora operativa en el 3T’24 tras un 1S’24 débil, creemos que no va a ser suficiente para alcanzar los objetivos’24. Así, todo apunta a que la evolución de APAC va a seguir siendo discreta, así como la debilidad en los precios del pool eléctrico. Esperamos unos ingresos 3T’24 de c. 310 M euros (312 consenso) con una mejora del EBITDA de c. +11% (70 M euros vs 73 consenso) lo que implica un...
- Research Department
IBERIAN DAILY 09 OCTOBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: CAF, CAIXABANK, VISCOFAN. Lacking drivers In a session of few macro references, European stock markets managed to reel in the losses from the opening bell with the boost from the US and the falling oil prices. The IBEX, which closed with slight gains, was once again the best-performing index in the euro zone. In the STOXX 600, most of the sectors closed with losses (15/20), led by Basic Materials and Consumer Goods, whereas the defensive Telecoms and Utilities were the best perfor...
- Research Department
INFORME DIARIO 09 0CTUBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAF, CAIXABANK, VISCOFAN. EUROPA: PERNOD RICARD. Sin catalizadores En una jornada de escasas referencias macro, las bolsas europeas lograron minorar las pérdidas de la apertura con el impulso de EE.UU. y el descenso en el precio del petróleo. El Ibex, que cerró con ligeras ganancias, volvió a ser el mejor índice de la Eurozona. Así, en el STOXX 600, la mayoría de sectores cerraron con pérdidas (15/20), lideradas por R. Básicos y B. de Consumo mient...
- Research Department
INFORME DIARIO 20 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: GRIFOLS, MINOR HOTELS, VISCOFAN. EUROPA: MERCEDES BENZ GROUP, VOLKSWAGEN El mercado, y sobre todo los cíclicos, celebran la decisión de la Fed Las bolsas europeas subieron con fuerza el jueves a pesar de la apreciación del euro, con la confianza de que la Fed logrará un aterrizaje “suave” de la economía estadounidense. En el STOXX 600 los mejores fueron cíclicos muy castigados recientemente como Tecnología y R. Básicos mientras que Utilities y Telec...
- Research Department
IBERIAN DAILY 20 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: GRIFOLS, MINOR HOTELS, VISCOFAN. The market and mainly cyclical stocks welcome the Fed’s decision European stock markets climbed significantly yesterday despite the appreciation of the euro, remaining confident that the Fed will enable a soft landing of the US economy. Thus, in the STOXX 600 cyclical stocks severely and recently hit such as Technology and Basic Resources were the best performers whereas Utilities and Telecoms posted the biggest drops. On the macro side, in the UK...
- Rafael Bonardell
VISCOFAN: 2Q’24 RESULTS (ANÁLISIS BANCO SABADELL)
2Q'24 vs. 2Q'23 Results Sales: € 303.42 M (-5.3% vs. -4.1% BS(e) and -2.4% consensus); EBITDA: € 70.01 M (+3.5% vs. +0.5% BS(e) and +5.3% consensus); 1H'24 vs. 1H'23 Results Sales: € 593.14 M (-5.6% vs. -5.0% BS(e) and -4.2% consensus); EBITDA: € 131.51 M (+1.6% vs. +0.1% BS(e) and +2.6% consensus).
- Charlotte Vaisse
- Juan Ros-Padilla
NK IMERYS SA
NXI NEXITY SA CLASS A
NTG NETGEM SA
NRG NRJ GROUP SA
MRN MERSEN SA
MTU MANITOU BF SA
ALTA ALTAREA SCA
MBB MBB INDUSTRIES SE
BIG BIGBEN INTERACTIVE SA
FAE FAES FARMA S.A.
ECV ENCAVIS AG
VIS VISCOFAN S.A.
FCC FOMENTO DE CONSTRUCCIONES Y CONTRATAS S.A.
AED AEDIFICA SA
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
MELE MELEXIS NV
ENC ENCE ENERGIA Y CELULOSA SA
COL INMOBILIARIA COLONIAL SOCIMI SA
TLGO TALGO SA
IDR INDRA SISTEMAS S.A. CLASS A
PSG PROSEGUR COMPANIA DE SEGURIDAD SA
TKO TIKEHAU CAPITAL SCA
UNI UNICAJA BANCO S.A.
DUFN DUFRY AG
CGG CGG
TKWY JUST EAT TAKEAWAY.COM N.V.
TMV TEAMVIEWER AG
VRLA VERALLIA SAS
NACON NACON SASU
ZEL PHARMA MAR SA
AG1 AUTO1 GROUP
EBUS EBUSCO HLDG NV
AELIS AELIS FARMA SA
EAPI EUROAPI
BRE BREMBO S.P.A.
- Charlotte Vaisse
- Juan Ros-Padilla
NK IMERYS SA
NXI NEXITY SA CLASS A
NTG NETGEM SA
NRG NRJ GROUP SA
MRN MERSEN SA
MTU MANITOU BF SA
ALTA ALTAREA SCA
ATE ALTEN SA
MBB MBB INDUSTRIES SE
BIG BIGBEN INTERACTIVE SA
FAE FAES FARMA S.A.
ECV ENCAVIS AG
VIS VISCOFAN S.A.
FCC FOMENTO DE CONSTRUCCIONES Y CONTRATAS S.A.
AED AEDIFICA SA
MELE MELEXIS NV
ENC ENCE ENERGIA Y CELULOSA SA
COL INMOBILIARIA COLONIAL SOCIMI SA
TLGO TALGO SA
IDR INDRA SISTEMAS S.A. CLASS A
PSG PROSEGUR COMPANIA DE SEGURIDAD SA
TKO TIKEHAU CAPITAL SCA
UNI UNICAJA BANCO S.A.
DUFN DUFRY AG
CGG CGG
TKWY JUST EAT TAKEAWAY.COM N.V.
TMV TEAMVIEWER AG
VRLA VERALLIA SAS
NACON NACON SASU
ZEL PHARMA MAR SA
AG1 AUTO1 GROUP
EBUS EBUSCO HLDG NV
AELIS AELIS FARMA SA
EAPI EUROAPI
BRE BREMBO S.P.A.
- Rafael Bonardell
- Rafael Bonardell
VISCOFAN: RDOS. 2T’24 (ANÁLISIS BANCO SABADELL)
Rdos. 2T'24 vs 2T'23: Ventas: 303,42 M euros (-5,3% vs -4,1% BS(e) y -2,4% consenso); EBITDA: 70,01 M euros (+3,5% vs +0,5% BS(e) y +5,3% consenso); Rdos. 1S'24 vs 1S'23: Ventas: 593,14 M euros (-5,6% vs -5,0% BS(e) y -4,2% consenso); EBITDA: 131,51 M euros (+1,6% vs +0,1% BS(e) y +2,6% consenso).
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