reports
- Martin Marandon-Carlhian
- Stephane Houri
FME FRESENIUS MEDICAL CARE AG & CO. KGAA
RCO REMY COINTREAU SA
LONN LONZA GROUP AG
EN BOUYGUES SA
ADEN ADECCO GROUP AG
SCR SCOR SE
ZAL ZALANDO SE
GEBN GEBERIT AG
HEI HEIDELBERGCEMENT AG
SOLB SOLVAY SA
COLO B COLOPLAST A/S CLASS B
BP. BP P.L.C.
SHL SIEMENS HEALTHINEERS AG
UN0 UNIPER SE
- Martin Marandon-Carlhian
- Stephane Houri
INFINEON INFINEON TECHNOLOGIES AG
FME FRESENIUS MEDICAL CARE AG & CO. KGAA
RCO REMY COINTREAU SA
LONN LONZA GROUP AG
EN BOUYGUES SA
ADEN ADECCO GROUP AG
SCR SCOR SE
ZAL ZALANDO SE
GEBN GEBERIT AG
HEI HEIDELBERGCEMENT AG
SOLB SOLVAY SA
COLO B COLOPLAST A/S CLASS B
BP. BP P.L.C.
SHL SIEMENS HEALTHINEERS AG
UN0 UNIPER SE
- ING Helpdesk
- Hilde Van Boxstael
- Sharad Kumar S.P
- Wim Hoste
- Wim Lewi
- Stefano Toffano
Solvay : A solid quarter despite the large net pricing headwinds
>Pressure on underlying EBITDA less than expected - A good first set of results for the new Solvay, with Q1 24 group revenues of € 1,201m (+6% vs ccs) reflecting -11.9% yoy organic growth mainly as a consequence of lower prices (-14.5% yoy), partially offset by higher volumes (+2.5% yoy). Q1 24 underlying EBITDA came in much stronger than expected at € 265m (-27.2% yoy, -13.6% organically given the exit from the thermal insulation and energy third parties operations) ...
- Wim Hoste
Solvay FIRST LOOK: 1Q underlying EBITDA beat, FY guidance maintained
1Q underlying EBITDA dropped by 13.6% organically to 265m which was 13% better than our forecast and 12% above CSS. Solvay reiterated its FY uEBITDA guidance which calls for a 10-20% organic decline vs the restated 2023 base. After the recent spun off of Syensqo, Solvay is a base chemicals group with leading market and technology positions in the vast majority of its businesses. The company will be managed with a conservative financial approach, favouring dividends over aggressive growth and op...
Solvay first quarter 2024 results
Solvay first quarter 2024 results Strong FCF supported by resilient EBITDA and discipline on costs and capex Brussels, May 7, 2024 – 7:00 am CEST - regulated information Highlights Net sales for Q1 2024 at €1,201 million were down -11.9% organically versus Q1 2023, with positive volume impact, for the first time in seven quarters, in both Basic and Performance Chemicals segments. Prices decreased, mostly reflecting the lower energy and raw material costs.Underlying EBITDA of €265 million for the first quarter was -13.6% lower organically compared to a high Q1 2023, with negative Net ...
Résultats du premier trimestre 2024
Résultats du premier trimestre 2024 Information réglementée Un FCF solide soutenu par un EBITDA résilient et la gestion maîtrisée des coûts et des investissements Bruxelles, le 7 mai 2024 à 7h00 CEST - information réglementée Faits marquants Le chiffre d'affaires net du T1 2024 s’élève à €1 201 millions, en baisse organique de -11,9% par rapport au T1 2023, avec un impact positif des volumes pour la première fois en sept trimestres, visible à la fois dans les segments Basic Chemicals et Performance Chemicals. Les prix diminuent, reflétant principalement la baisse des coûts de l'énergie...
Resultaten Solvay van het eerste kwartaal 2024
Resultaten Solvay van het eerste kwartaal 2024 Gereglementeerde informatie Sterke vrije kasstroom ondersteund door veerkrachtige EBITDA en beheersing van kosten en investeringen Brussel, 7 mei 2024, om 7u00 CEST - gereglementeerde informatie Hoogtepunten De netto-omzet voor Kw1 2024 van €1 201 miljoen daalde op organische basis met -11,9% ten opzichte van Kw1 2023, met een positieve volume-impact, voor het eerst in zeven kwartalen, in zowel de segmenten Basic Chemicals als Performance Chemicals. De prijzen daalden, vooral door lagere energie- en grondstofkosten.De onderliggende EBITDA...
- Marc Hesselink
- CFA
- Thymen Rundberg
ASM International/GAAtting started/BUY
ASM has been a very strong performer over the past four years, with high adoption of its ALD and Epitaxy technology. We believe this run is far from over and expect very strong order momentum over the course of 2024, ahead of the start of 2nm volume production in 2025. We reiterate our BUY and increase our target price to €750 per share (from €650). ASM is on the ING Benelux Favourites list.
- Frank Claassen
Solvay - Resilience and return of volume growth
• Q1-24 EBITDA was more than 10% above our and consensus estimates, supported by the return of positive volume growth. • This confirms our view that Solvay is resilient, also due to its strong cost and capex discipline.• Valuation multiples remain very attractive for a 20% ROCE business. We stick our Buy and TP of EUR 36, based on our 2025E SOTP.
- Benoit Valleaux
- Bruno Cavalier
- Steven Gould
INFINEON INFINEON TECHNOLOGIES AG
LR LEGRAND SA
AMS AMS AG
RCO REMY COINTREAU SA
DEMANT DEMANT A/S
GLE SOCIETE GENERALE S.A. CLASS A
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ISP INTESA SANPAOLO S.P.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
SIX2 SIXT SE
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
IHG INTERCONTINENTAL HOTELS GROUP PLC
DTG DAIMLER TRUCK
ARM ARM HOLDINGS PLC
AMS AMS AG
APAML APERAM SA
EVT EVOTEC SE
SBS STRATEC SE
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
MBB MBB INDUSTRIES SE
PNL POSTNL NV
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
MBWS MARIE BRIZARD WINE & SPIRITS SA
AIXA AIXTRON SE
ECV ENCAVIS AG
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
TWEKA TKH GROUP N.V. CERT
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
AF AIR FRANCE - KLM
ARM ARM HOLDINGS PLC
- Benoit Valleaux
- Bruno Cavalier
- Steven Gould
INFINEON INFINEON TECHNOLOGIES AG
LR LEGRAND SA
AMS AMS AG
RCO REMY COINTREAU SA
DEMANT DEMANT A/S
GLE SOCIETE GENERALE S.A. CLASS A
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ISP INTESA SANPAOLO S.P.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
SIX2 SIXT SE
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
IHG INTERCONTINENTAL HOTELS GROUP PLC
DTG DAIMLER TRUCK
ARM ARM HOLDINGS PLC
AMS AMS AG
APAML APERAM SA
EVT EVOTEC SE
SBS STRATEC SE
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
MBB MBB INDUSTRIES SE
PNL POSTNL NV
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
MBWS MARIE BRIZARD WINE & SPIRITS SA
AIXA AIXTRON SE
ECV ENCAVIS AG
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
TWEKA TKH GROUP N.V. CERT
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
AF AIR FRANCE - KLM
ARM ARM HOLDINGS PLC
- Hilde Van Boxstael
- Michiel Declercq
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
- Martin Marandon-Carlhian
- Stephane Houri
ODDO : March 2024 sales below forecasts, memory continues to underpin ...
>Global sales for March 2024 at +15.2% y-o-y (vs +16.4% in February), Q1 2024 at +15% - Worldwide semiconductor sales in March 2024 were published by the WSTS (World Semiconductor Trade Statistics), with the usual one-month lag. In terms of the three-month moving average, sales came to $ 50.8bn, falling short of our estimate of $ 52.2bn, pointing to y-o-y growth +15.2% (a slight sequential decline of -0.6%). This marks a slowdown vs February, which stood at +16.4%. Q1...
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 mars 2024 inférieures aux attentes, la mémoire contin...
>Ventes mondiales de mars 2024 à +15.2% yoy (vs +16.4% en février), un T1 24 à +15% - Les ventes mondiales de semiconducteurs de mars 2024 ont été publiées par la WSTS (World Semiconductor Trade Statistics), avec comme toujours, un mois de décalage. En données lissées (moyenne 3 mois), elles ressortent à 50.8 Md$, inférieures à notre prévision à 52.2 Md$, en croissance annuelle de 15.2% (légère baisse en séquentiel de -0.6%). Il s’agit d’un ralentissement par rapport ...
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
Corbion reports the progress of its € 20 million share buyback program...
Corbion reports the progress of its € 20 million share buyback program 29 April – 3 May 2024 Corbion hereby reports the transaction details related to its € 20 million share buyback program announced on 26 April 2024. During the week of 29 April up to and including 3 May 2024 a total of 38,702 shares were repurchased at an average price of €20.5887 for a total amount of €796,825.79. To date, the total consideration for shares repurchased amounts to €796,825.79 representing 3.98% of the overall share buyback program. Corbion publishes on a weekly basis every Monday, an overview of the pro...
- Jerôme Bodin
ODDO BHF Small & MIDCAP MORNING NEWS - 05/03/2024
Founded in 1959, Leifheit AG is one of the leading European brand suppliers of household items. The group divides its operating business into the household, wellbeing and private label segments. In view of its growing turnover (CAGR of +2.8% for 2023 to 2026e) and EBIT margins (+290bp to 5.2% in 2026e vs 2023), as well as its solid financial profile (equity ratio of about 50%, average net cash position of c. € 40m for 2024e to 2026e, average positive FCF of c. € 11m for 2024e to 2026e...
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