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Robert Jan Vos
  • Robert Jan Vos

B&S Group S.A. : Market reaction too bitter given solid Q3 and reassur...

>Q3 2024 sales 3.6% higher than our above-market expectation - B&S Group reported a solid Q3 2024, in our view. Sales came in 3.6% higher than our estimate, which we think was the highest in the market. In all divisions except retail, organic sales growth was either higher than expected or significantly better than forecast. Management’s tone on the business was generally positive, and the same applies to the comments about Q4 2024. We forecast 7.1% sales growth in Q4...

Klaus Ringel ... (+2)
  • Klaus Ringel
  • Michael Foundoukidis

ElringKlinger AG : Q3 2024 not as bad as feared and FY 2024 guidance c...

>A quite robust Q3 2024 performance in an adverse environment - ElringKlinger reported Q3 2024 results that were not as bad as feared. Q3 2024 reported group sales were down -2% y-o-y (flat organic growth y-o-y) to € 441m, which is c.2% ahead of our and cons. expectations. Group adj. EBIT was flat y-o-y at € 23m (+12% vs. ODDO BHF; +15% vs. cons.) with an adj. EBIT margin of 5.2% (+50bp vs. ODDO BHF; +60bp vs. cons.) in the quarter under review. ElringKlinger’s Q3 202...

 PRESS RELEASE

EQS-News: Q3 2024: ElringKlinger mit soliden Geschäftszahlen in schwie...

EQS-News: ElringKlinger AG / Schlagwort(e): Quartalsergebnis Q3 2024: ElringKlinger mit soliden Geschäftszahlen in schwierigem Umfeld 12.11.2024 / 07:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Q3 2024: ElringKlinger mit soliden Geschäftszahlen in schwierigem Umfeld Konzernumsatz im dritten Quartal 2024 unter herausfordernden Rahmenbedingungen bei 441 Mio. EUR (Q3 2023: 452 Mio. EUR), organisch leichtes Umsatzplus im Quartalsvergleich Bereinigte EBIT-Marge bei 5,2 % (Q3 2023: 5,0 %), ElringKlinger mit bereinigter EBIT-Marge v...

 PRESS RELEASE

EQS-News: Q3 2024: ElringKlinger records solid results amid difficult ...

EQS-News: ElringKlinger AG / Key word(s): Quarter Results Q3 2024: ElringKlinger records solid results amid difficult conditions 12.11.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Q3 2024: ElringKlinger records solid results amid difficult conditions Group revenue at EUR 441 million (Q3 2023: EUR 452 million) in third quarter of 2024 against challenging backdrop; slight quarter-on-quarter revenue growth in organic terms Adjusted EBIT margin at 5.2% (Q3 2023: 5.0%); ElringKlinger on target with adjusted EBIT margin of 5.1% ...

Marc Zwartsenburg ... (+3)
  • Marc Zwartsenburg
  • CEFA
  • Tijs Hollestelle

B&S Group/Growing fast in difficult market conditions/BUY

The B&S 3Q24 trading update surprised positively on top line performance but disappointed somewhat on costs. 3Q24 revenue was c.8% above our expectations and growth was driven by most business segments. B&S indicated that gross margin decreased in 3Q24, while we expected flat YoY gross margin. Wage costs also increased, this in line with management expectations and our own. As a consequence B&S expects FY24 EBITDA margin to be in the lower half of the 5-6% guidance. We raise our FY24 revenue est...

Jean Danjou
  • Jean Danjou

ODDO BHF Small & MIDCAP MORNING NEWS - 11/11/2024

Springer Nature is one of the world’s leading professional publishing companies. Its highly recurring revenue base and strong market position, good FCF generation and a deleveraging balance sheet should lead to a rerating, we believe. We initiate coverage with an Outperform and a TP of €33. - ...

Jean Danjou
  • Jean Danjou

ODDO BHF Small & MIDCAP MORNING NEWS - 11/11/2024

Springer Nature is one of the world’s leading professional publishing companies. Its highly recurring revenue base and strong market position, good FCF generation and a deleveraging balance sheet should lead to a rerating, we believe. We initiate coverage with an Outperform and a TP of €33. - ...

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

B&S Group: Strong top line, margin guidance lowered due to high costs. Staffing: France September trend weaker on tough comps, October outlook stable

Robert Jan Vos
  • Robert Jan Vos

B&S Group S.A. : Solid sales in Q3 2024, but EBITDA outlook marginally...

>Sales beat expectations in Q3 2024; gross margin under pressure - B&S Group reported net sales of € 609.1m in Q3 2024. Organic sales growth amounted to 11.8% in the quarter. Our estimates were € 588m and 7.8%, respectively. There was no consensus available, but from investors we understood that our estimates were the highest. All segment, except the retail segment, strongly outperformed our forecasts. Management added that turnover increased across all segments, whil...

Gautier Le Bihan
  • Gautier Le Bihan

Adtran Networks SE (ex ADVA) : The environment remains complex, but sh...

>Q3 sales down 30.4%, y-o-y to € 101.4m below our expectations - Adtran Networks SE (ex. ADVA) released its Q3 2024 results yesterday. Revenues came in at € 101.4m (vs est. at € 110m, i.e. 8% below our expectations). The Q3 2024 decrease stood at 36.4% y-o-y and 6.3% q-o-q due to “reduced demand from major network operators due to their current high inventory levels and the conclusion of several significant customer projects in earlier periods”. Over 9M 2024, revenue...

Gautier Le Bihan
  • Gautier Le Bihan

Adtran Networks SE (ex ADVA) : The environment remains complex, but sh...

>Q3 sales down 30.4%, y-o-y to € 101.4m below our expectations - Adtran Networks SE (ex. ADVA) released its Q3 2024 results yesterday. Revenues came in at € 101.4m (vs est. at € 110m, i.e. 8% below our expectations). The Q3 2024 decrease stood at 36.4% y-o-y and 6.3% q-o-q due to “reduced demand from major network operators due to their current high inventory levels and the conclusion of several significant customer projects in earlier periods”. Over 9M 2024, revenue...

 PRESS RELEASE

EQS-News: Adtran Networks SE veröffentlicht Ergebnisse für Q3 2024

EQS-News: Adtran Networks SE / Schlagwort(e): Quartalsergebnis Adtran Networks SE veröffentlicht Ergebnisse für Q3 2024 07.11.2024 / 06:55 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.   Übersicht der Kennzahlen für Q3 2024 nach IFRS (ungeprüft) Gewinn- und Verlustrechnung (in Tausend EUR, außer Ergebnis je Aktie und Kennzahlen)   Q3 2024 Q3 2023 Veränderung   9M 2024 9M 2023 Veränderung Umsatzerlöse   101.374 145.655 (30,4%)   319.145 495.201 (35,6%) Proforma Bruttoergebnis ...

 PRESS RELEASE

EQS-News: Adtran Networks SE announces results for Q3 2024

EQS-News: Adtran Networks SE / Key word(s): Quarter Results Adtran Networks SE announces results for Q3 2024 07.11.2024 / 06:55 CET/CEST The issuer is solely responsible for the content of this announcement.     Overview of key financials for Q3 2024 in accordance with IFRS (unaudited) Income statement (in thousands of EUR, except earnings per share and ratios)   Q3 2024 Q3 2023 Change   9M 2024 9M 2023 Change Revenues   101,374 145,655 (30.4%)   319,145 495,201 (35.6%) Pro forma gross profit   37,872 55,183 ...

Juan Ros-Padilla ... (+2)
  • Juan Ros-Padilla
  • Thomas Zlowodzki

ODDO BHF Small & MIDCAP MORNING NEWS - 11/05/2024

European equity markets weakened in October following multiple disappointments across the earnings season. The impending US election, the outcome of which is highly uncertain according to the polls, may also have prompted some traders to adopt a cautious stance. Sovereign long rates rose sharply, particularly in the US, on the back of macro indicators likely to provide arguments to the most hawkish of central bankers. All eyes are now on the November 5 elections and their repercussion...

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