reports
- Johanna Jourdain
- Johanna Jourdain
- Konrad Zomer
AI AIR LIQUIDE SA
EDEN EDENRED SA
EQNR EQUINOR ASA
CA CARREFOUR SA
BVI BUREAU VERITAS SA
BN DANONE SA
KNEBV KONE OYJ CLASS B
RNO RENAULT SA
ORA ORANGE SA
SSAB A SSAB AB CLASS A
ULVR UNILEVER PLC
SW SODEXO SA
LSEG LONDON STOCK EXCHANGE GROUP PLC
BEI BEIERSDORF AG
KER KERING SA
DTE DEUTSCHE TELEKOM AG
WPP WPP PLC
MOCORP METSO OUTOTEC OYJ
ASSA B ASSA ABLOY AB CLASS B
IBE IBERDROLA SA
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
DSY DASSAULT SYSTEMES SA
AZE AZELIS GROUP NV
SHEL SHELL PLC
ATCO A ATLAS COPCO AB
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
- Carole Braudeau
Credit Morning 10/24/2024
Constellium: challenging conditions led to disappointing Q3 results and guidanceVerallia is already marketing new 2032 bonds, a precocity that raises questions.Eramet: Q3 2024 sales below expectations and acquisition of Tsingshan's lithium stake for USD 699mKering: EBIT guidance revised down again after very poor Q3Auchan to sell its Russian subsidiary (La Lettre)>...
EDEN EDENRED SA
ELIOR ELIOR GROUP SA
CA CARREFOUR SA
BVI BUREAU VERITAS SA
RNO RENAULT SA
ATO ATOS SE
MTX MTU AERO ENGINES AG
ORA ORANGE SA
KORI KORIAN SA
KER KERING SA
ERA ERAMET SA
ONTEX ONTEX GROUP N.V.
TIT TELECOM ITALIA S.P.A.
VLTSA VOLTALIA
DUFN DUFRY AG
VRLA VERALLIA SAS
SPM SAIPEM S.P.A.
- Konrad Zomer
AI AIR LIQUIDE SA
EDEN EDENRED SA
EQNR EQUINOR ASA
CA CARREFOUR SA
BVI BUREAU VERITAS SA
BN DANONE SA
KNEBV KONE OYJ CLASS B
RNO RENAULT SA
ORA ORANGE SA
SSAB A SSAB AB CLASS A
ULVR UNILEVER PLC
SW SODEXO SA
LSEG LONDON STOCK EXCHANGE GROUP PLC
BEI BEIERSDORF AG
KER KERING SA
DTE DEUTSCHE TELEKOM AG
WPP WPP PLC
MOCORP METSO OUTOTEC OYJ
ASSA B ASSA ABLOY AB CLASS B
IBE IBERDROLA SA
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
DSY DASSAULT SYSTEMES SA
AZE AZELIS GROUP NV
SHEL SHELL PLC
ATCO A ATLAS COPCO AB
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
- Carole Braudeau
Morning Crédit 24/10/2024
Constellium : Challenging conditions led to disappointing Q3 results and guidanceKering : nouvelle révision en baisse de la guidance d’EBIT après un très mauvais T3Verallia commercialise déjà des nouvelles obligations 2032, une précocité qui interpelleEramet : CA T3 2024 inférieur aux attentes et acquisition de la part de Tsingshan dans le lithium pour 699 m USD Auchan s'apprêterait à vendre sa filiale en Russie (La Lettre)>...
EDEN EDENRED SA
ELIOR ELIOR GROUP SA
CA CARREFOUR SA
BVI BUREAU VERITAS SA
RNO RENAULT SA
ATO ATOS SE
MTX MTU AERO ENGINES AG
ORA ORANGE SA
KORI KORIAN SA
KER KERING SA
ERA ERAMET SA
ONTEX ONTEX GROUP N.V.
TIT TELECOM ITALIA S.P.A.
VLTSA VOLTALIA
DUFN DUFRY AG
VRLA VERALLIA SAS
SPM SAIPEM S.P.A.
- Johanna Jourdain
Edenred : Q3 2024 miss, in line FY 2024 guidance but Italian fee cap r...
>Q3 2024 revenue below, with organic growth disappointment - Edenred has reported total Q3 2024 revenue of € 682m, 2% below forecasts (consensus at € 695m, ODDO BHF € 688m), i.e. a reported increase of 6.1%, of which +11.5% organic, +0.9% from M&A and -6.2% from the forex effect. Organic growth in operating revenues in Q3 was +10.8% on an adjusted basis, below the consensus at 12.2% (ODDO BHF 12.6%). Among the most dynamic regions in organic terms, Latin America incre...
- Johanna Jourdain
Edenred : Q3 2024 miss, in line FY 2024 guidance but Italian fee cap r...
>Q3 2024 revenue below, with organic growth disappointment - Edenred has reported total Q3 2024 revenue of € 682m, 2% below forecasts (consensus at € 695m, ODDO BHF € 688m), i.e. a reported increase of 6.1%, of which +11.5% organic, +0.9% from M&A and -6.2% from the forex effect. Organic growth in operating revenues in Q3 was +10.8% on an adjusted basis, below the consensus at 12.2% (ODDO BHF 12.6%). Among the most dynamic regions in organic terms, Latin America incre...
- Olfa Taamallah
- Yan Derocles
EQNR EQUINOR ASA
ADP AEROPORTS DE PARIS SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
KPN ROYAL KPN NV
ORA ORANGE SA
HO THALES SA
GFC GECINA SA
SSAB A SSAB AB CLASS A
RCO REMY COINTREAU SA
SW SODEXO SA
GLE SOCIETE GENERALE S.A. CLASS A
KBC KBC GROUP N.V.
ALO ALSTOM SA
ELE ENDESA S.A.
EZJ EASYJET PLC
REP REPSOL SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
NEM NEMETSCHEK SE
GAS NATURGY ENERGY GROUP S.A.
ELI ELIA GROUP SA/NV
MOCORP METSO OUTOTEC OYJ
ENG ENAGAS SA
IBE IBERDROLA SA
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
AM DASSAULT AVIATION
SGSN SGS SA
- Olfa Taamallah
- Yan Derocles
EQNR EQUINOR ASA
ADP AEROPORTS DE PARIS SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
KPN ROYAL KPN NV
ORA ORANGE SA
HO THALES SA
GFC GECINA SA
SSAB A SSAB AB CLASS A
RCO REMY COINTREAU SA
SW SODEXO SA
GLE SOCIETE GENERALE S.A. CLASS A
KBC KBC GROUP N.V.
ALO ALSTOM SA
ELE ENDESA S.A.
EZJ EASYJET PLC
REP REPSOL SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
NEM NEMETSCHEK SE
GAS NATURGY ENERGY GROUP S.A.
ELI ELIA GROUP SA/NV
MOCORP METSO OUTOTEC OYJ
ENG ENAGAS SA
IBE IBERDROLA SA
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
AM DASSAULT AVIATION
SGSN SGS SA
- Johanna Jourdain
Edenred : Another (heavily) punished results publication
>H1 results and FY 2024 positive up to EBITDA - Yesterday, before the stock market close, Edenred reported H1 2024 results above expectations (+2% on EBITDA), including a 130bp margin increase and an FY 2024 EBITDA guidance (range € 1.23bn/€ 1.30bn) in line with the consensus at € 1,264m. Nevertheless, this publication was heavily punished (share price -13% at the close), for two main reasons in our view: 1/ future adjustments to the bottom of P&L for the consensus (n...
- Johanna Jourdain
Edenred : Encore une publication (lourdement) sanctionnée
>Résultats S1 et guidance FY24 positifs jusqu’à l’EBITDA - Edenred a publié hier avant Bourse des résultats S1 24 au-dessus des attentes (+2% sur l’EBITDA), dont une progression de la marge de 130 pb et une guidance FY 24 d’EBITDA (fourchette 1.23/1.30 Md€) en ligne avec le consensus à 1 264 M€. Néanmoins, cette publication a été lourdement sanctionnée (-13% à la clôture), pour 2 raisons principalement selon nous : 1/ les ajustements de bas de P&L à venir pour le cons...
- Carole Braudeau
Credit Morning 07/23/2024
ELO/Auchan: Towards an extremely difficult FY 2024 (La Lettre) Grünenthal acquires Valinor Pharma for USD 250mIHO: Schaeffler, Vitesco cut guidance OPmobility (formerly Plastic Omnium) continues to outperform in H1 2024 with strong sales momentumEurofins: Muddy Waters launches third report, questions the cash position again>...
- Carole Braudeau
Morning Crédit 23/07/2024
ELO/Auchan : Vers un exercice 2024 très difficile (La Lettre) Grünenthal acquires Valinor Pharma for $ 250m IHO : Schaeffler, Vitesco cut guidance OPmobility (ex-Plastic Omnium) continue de surperformer au S1 2024 avec une belle dynamique commerciale Eurofins: Muddy Waters launches third report, questions the cash position again>...
- Baptiste Salaville
- Chaima Ferrandon
- Jean-Baptiste Rouphael
- Marc Lavaud
- Oddo Sustainability Team
- Sven Edelfelt
GALP GALP ENERGIA SGPS SA CLASS B
CA CARREFOUR SA
HO THALES SA
LISN CHOCOLADEFABRIKEN LINDT & SPRUENGLI AG
FGR EIFFAGE SA
RAND RANDSTAD NV
ENI ENI S.P.A.
RY4C RYANAIR HOLDINGS PLC
VACN VAT GROUP AG
SAP SAP SE
AKZA AKZO NOBEL N.V.
JDEP JDE PEET'S NV
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
- Baptiste Salaville
- Chaima Ferrandon
- Jean-Baptiste Rouphael
- Marc Lavaud
- Oddo Sustainability Team
- Sven Edelfelt
GALP GALP ENERGIA SGPS SA CLASS B
CA CARREFOUR SA
HO THALES SA
LISN CHOCOLADEFABRIKEN LINDT & SPRUENGLI AG
FGR EIFFAGE SA
RAND RANDSTAD NV
ENI ENI S.P.A.
RY4C RYANAIR HOLDINGS PLC
VACN VAT GROUP AG
SAP SAP SE
AKZA AKZO NOBEL N.V.
JDEP JDE PEET'S NV
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
- Johanna Jourdain
Edenred : H1 2024 beat, FY 2024 guidance in line
>H1 2024 results beat expectations, with EBITDA 2% above estimates - Edenred’s total H1 2024 revenues came in at € 1,395m (+20% reported), 1% above the consensus at € 1,388m. In detail, operating revenues amounted to € 1,271m (consensus € 1,270m), with organic growth of 17.0% (non-adjusted basis for better comparison with consensus, +15.4% otherwise), above the consensus at 15.9%. This implies organic growth of +15.4% in Q2, slightly beating expectations at +14.9% and...
- Johanna Jourdain
Edenred : H1 2024 beat, FY 2024 guidance in line
>H1 2024 results beat expectations, with EBITDA 2% above estimates - Edenred’s total H1 2024 revenues came in at € 1,395m (+20% reported), 1% above the consensus at € 1,388m. In detail, operating revenues amounted to € 1,271m (consensus € 1,270m), with organic growth of 17.0% (non-adjusted basis for better comparison with consensus, +15.4% otherwise), above the consensus at 15.9%. This implies organic growth of +15.4% in Q2, slightly beating expectations at +14.9% and...
- Aurelien Deside
- Paul Charpentier
- Emna Ben Bdira
- Maxime Kogge
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