Coffee, Croissants & Credit/Merlin Properties

Real Estate - Merlin Properties 1Q24: solid numbers, further comments on data centre plan

Altarea: 1 director

A director at Altarea sold 400 shares at 101.462EUR and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing C...

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/17/2024

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. - ...

ODDO BHF Small & MIDCAP MORNING NEWS - 05/17/2024

Growth momentum remains solid, and the publication of Q1 sales bodes well for the future (12.5% organic growth, including 27% for Aerospace). Margins are set to pick up in 2024 (by an estimated 110bp), with the underlying operating profit expected to jump 33%. With good visibility for Aerospace, medium-term potential for Automotive and profitable growth for Medical, we estimate the potential for margin improvement at no less than 500bp in the medium term. We are raising our underlying...

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 17/05/2024

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ODDO BHF Small & MIDCAP MORNING NEWS - 17/05/2024

La dynamique de croissance reste solide et la publication du CA T1 est de bon augure (croissance organique de 12.5% dont 27% pour l’Aerospace). 2024 devrait voir un redressement des marges (+110 pb estimés) pour un ROC attendu en hausse de 33%. A l’appui d’une bonne visibilité pour l’aéronautique, d’un potentiel MT pour l’automobile et d’une croissance profitable pour le Médical, nous estimons le potentiel d’amélioration des marges à au moins 500 pb à MT. Nous relevons nos estimations...

Merlin Properties : Very satisfactory operating performance overall in...

>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 ...

Inmobiliaria Colonial : CriteriaCaixa, a fine opportunity to embark on...

>CriteriaCaixa to acquire a stake, with a cash transfer of € 350m and € 272m in assets - Colonial yesterday announced the signature of an agreement with CriteriaCaixa whereby the Spanish financial holding group will become a new shareholder with c. 17% of the capital through a dedicated capital increase of € 622m and with the issuance of 87 729 050 new shares at a unit price of € 7.1 per share (i.e. a premium of 15% to the price on 15 May). Criteria is to subscribe to...

MERLIN PROPERTIES: RDOS. 1T’24 (ANÁLISIS BANCO SABADELL)

Rdos. 1T'24 vs 1T'23: Ingresos brutos por rentas: 124,2 M euros (+4,2% vs +0,9% BS(e)); EBITDA: 91,0 M euros (+0,7% vs -1,2% BS(e)).

Merlin Properties : Performance opérationnelle au T1 globalement très ...

>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...

IBERIAN DAILY 17 MAY (ANÁLISIS BANCO SABADELL)

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...

Television Francaise(TF1): 1 director

A director at Television Francaise(TF1) bought 37,000 shares at 8.763EUR and the significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two ye...

Inmobiliaria Colonial : CriteriaCaixa, une belle opportunité pour se l...

>CriteriaCaixa entre au capital avec un apport de 350 M€ en cash et 272 M€ en actifs - Colonial a annoncé hier soir la signature d’un accord avec CriteriaCaixa dans lequel la holding financière espagnole va devenir un nouvel actionnaire de la société avec c. 17% du capital via une augmentation de capital dédiée de 622 M€ et qui va engendrer l’émission de 87 729 050 nouvelles actions à un prix unitaire de 7.1 € (i.e. prime de 15% vs cours du 15 mai). Criteria va souscr...

INFORME DIARIO 17 MAYO (ANÁLISIS BANCO SABADELL)

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...

ODDO BHF Small & MIDCAP MORNING NEWS - 05/16/2024

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. - ...

ODDO BHF Small & MIDCAP MORNING NEWS - 16/05/2024

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. - ...

INVEST SECURITIES - COVIVIO : Les actionnaires n'apporteront pas leurs...

Bastide : Q3 2023-24 revenues: solid organic growth, Swiss home care b...

>Organic growth: +7.5% vs +5.7% in H1 - Bastide’s Q3 revenues came in at € 134.7m, up 3.1% and +7.5% organically, of which € 45m for home care, € 49m for home respiratory care, and € 41m for perfusion-nutrition-insulinotherapy. Bastide announced it was selling its home care arm in Switzerland with a deal slated to close H1 2024-25.The growth reported is distorted in relation to historical figures, as Bastide presented its 2022-23 revenues adjusted for contri...