reports
- Jerôme Bodin
- Thomas Zlowodzki
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. - ...
FP TOTAL SE
EQNR EQUINOR ASA
ELIOR ELIOR GROUP SA
GALP GALP ENERGIA SGPS SA CLASS B
ALFOC FOCUS HOME INTERACTIVE SA
GYC GRAND CITY PROPERTIES SA
GLJ GRENKE AG
DEC JCDECAUX SA
BLC BASTIDE LE CONFORT MEDICAL SA
JCQ JACQUET METALS SA
ENI ENI S.P.A.
REP REPSOL SA
VASTN VASTNED RETAIL NV
ERG ERG S.P.A.
CPINV CARE PROPERTY INVEST SA
DIC DIC ASSET AG
FNTN FREENET AG
DUFN DUFRY AG
BP. BP P.L.C.
MDM MAISONS DU MONDE SA
JST JOST WERKE AG
DMP DERMAPHARM HOLDING SE
VK VALLOUREC SA
SHEL SHELL PLC
FLE PEGASUS ENTREPRENEURIAL ACQUISITION CO EURO BV
- Carole Braudeau
Credit Morning 05/16/2024
Altice designates certain subsidiaries as unrestricted (Bloomberg)Elior: good H1 23/24 results and confidence in targetsMoody's upgrades Monte's ratings by one notch to Ba2 senior and Ba3 Tier 2Avolta (ex-Dufry): solid first quarter, guidance confirmedMaxeda: after a difficult FY 2023 (leverage above 5x), the group is counting on its free cash flow generation in 2024 to deleverage before refinancing next year.>...
- Carole Braudeau
Morning Crédit 16/05/2024
Maxeda : après une année 2023 difficile (levier au-dessus de 5x), le groupe mise sur sa génération de free cash-flow en 2024 pour se désendetter avant son refinancement l’an prochainAltice désigne certaines filiales comme non restreintes (Bloomberg)Moody’s réhausse d’un cran les notes de Monte, à Ba2 en senior et à Ba3 en Tier 2Elior : bonne publication au S1 23/24 et confiance sur les objectifs fixésAvolta (ex-Dufry) : Très bon trimestre, guidances confirmées...
- Jerôme Bodin
- Thomas Zlowodzki
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. - ...
FP TOTAL SE
EQNR EQUINOR ASA
ELIOR ELIOR GROUP SA
GALP GALP ENERGIA SGPS SA CLASS B
ALFOC FOCUS HOME INTERACTIVE SA
GYC GRAND CITY PROPERTIES SA
GLJ GRENKE AG
DEC JCDECAUX SA
BLC BASTIDE LE CONFORT MEDICAL SA
JCQ JACQUET METALS SA
ENI ENI S.P.A.
REP REPSOL SA
VASTN VASTNED RETAIL NV
ERG ERG S.P.A.
CPINV CARE PROPERTY INVEST SA
DIC DIC ASSET AG
FNTN FREENET AG
DUFN DUFRY AG
RUI RUBIS SCA
BP. BP P.L.C.
MDM MAISONS DU MONDE SA
JST JOST WERKE AG
DMP DERMAPHARM HOLDING SE
VK VALLOUREC SA
SHEL SHELL PLC
FLE PEGASUS ENTREPRENEURIAL ACQUISITION CO EURO BV
- Paul de Froment
- Sebastián Marroquin Mérida
- Thomas Mordelle
Ebusco: The expert e-bus platform
Following the publication of our industry note entitled "Electrifying the future of on-road HDVs", we initiate coverage of Ebusco with a Buy rating and a price target of EUR5.5.Founded in 2012, Ebusco is a Dutch designer and manufacturer of fully electric transit-buses, both for city or regional us
- Paul de Froment
- Sebastián Marroquin Mérida
- Thomas Mordelle
Electrifying the future of on-road HDVs
Road transport accounts for about 75% of transport emissions worldwide and is responsible for around 21% of total emissions. More than a third is directly related to medium and heavy-duty vehicles (MHDV) i.e. buses and trucks, the bulk of which relates to freight.With major economies gradually alig
- Andreas Riemann
Ceconomy : Gross margin surprises positively, Upgrade to Neutral
>Positive gross and EBIT margin trend in Q2 - On Wednesday, Ceconomy provided final Q2 results (for the quarter ending in March) in line with prelims which were released Monday this week. Q2 like-for-like sales growth was 5% (FX neutral growth was 6.5%) mainly driven by Eastern Europe again but also West/South Europe, while the DACH business was down. In terms of channels, online did grow 9% whereas offline was up 6% (both FX neutral). Service & Solution (the high mar...
- Jerôme Bodin
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 05/15/2024 Date Performance sin...
With 71% of the companies in the Stoxx 600 having released their Q1 2024 results, the picture at this stage is encouraging, with 58% of positive surprises on results. Materials and financials were the sectors that delivered the most positive surprises. If the Q4 2023 earnings season put an end to a downward revision of EPS, the Q1 2024 earnings season has triggered the start of an upward EPS revision, more markedly in the US than in Europe. In terms of sectors, re-rating effects conti...
ETL EUTELSAT COMMUNICATIONS SA
PBB DEUTSCHE PFANDBRIEFBANK AG
TNG TRANSGENE SA
F3C SFC ENERGY AG
FGA FIGEAC AERO SA
PSM PROSIEBENSAT.1 MEDIA SE
TPE PVA TEPLA AG
TRI TRIGANO SA
MBB MBB INDUSTRIES SE
DEQ DEUTSCHE EUROSHOP AG
PAT PATRIZIA AG
WLN WORLDLINE SA
DKG DEUTSCHE KONSUM REIT-AG
NHH NH HOTEL GROUP SA
CGG CGG
BSGR B&S GROUP S.A.
MEDCL MEDINCELL SA
NEXI NEXI S.P.A.
INPST INPOST S.A.
NA9 NAGARRO
HGEA HGEARS AG
TUI TUI AG
SCHOTT PHARMA AG
R3NK RENK GROUP AG
ORP ORPEA
- Jerôme Bodin
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 15/05/2024 Date Performance dep...
Alors que 71% des sociétés du Stoxx 600 ont publié, le bilan est à ce stade positif avec 58% de surprises positives sur les résultats. Matériaux et Financières sont les secteurs ayant apporté le plus de surprises positives. Le consensus – qui avait stoppé sa baisse durant les publications T4-23, est désormais reparti à la hausse, plus nettement aux Etats-Unis qu’en Europe. Sectoriellement, les effets de rerating ont continué de dominer les révisions de BPA. - ...
ETL EUTELSAT COMMUNICATIONS SA
PBB DEUTSCHE PFANDBRIEFBANK AG
TNG TRANSGENE SA
F3C SFC ENERGY AG
FGA FIGEAC AERO SA
PSM PROSIEBENSAT.1 MEDIA SE
TPE PVA TEPLA AG
TRI TRIGANO SA
MBB MBB INDUSTRIES SE
DEQ DEUTSCHE EUROSHOP AG
PAT PATRIZIA AG
WLN WORLDLINE SA
DKG DEUTSCHE KONSUM REIT-AG
NHH NH HOTEL GROUP SA
CGG CGG
BSGR B&S GROUP S.A.
MEDCL MEDINCELL SA
NEXI NEXI S.P.A.
INPST INPOST S.A.
NA9 NAGARRO
HGEA HGEARS AG
TUI TUI AG
SCHOTT PHARMA AG
R3NK RENK GROUP AG
ORP ORPEA
- Carole Braudeau
- Thijs Berkelder
- Usama Tariq
SFC Energy AG : Outstanding growth registered in Q1
>SFC Energy reports a strong Q1 print - The company reported strong sales growth with Q1 sales at €40m, up 45.9% as compared to €27.4m in 2023 and above AA-OB estimate of €35.3m. This was largely due to Clean Energy Segment, which increased by 73.4% as compared to Clean Power Management which dropped 4.6% on a yoy basis. Region-wise, Asia, particularly India, registered the largest percentage increase in sales YoY. Gross margin came at 44.7%, significantly above 2023...
- ING Helpdesk
Benelux Morning Notes
Aalberts: Preview - steady in difficult markets. ABN AMRO: 1Q24 overshadowed by weaker capital, even if a strong set. AEGON: 1Q24 Preview (trading update). Alfen: Preview - clarity on one-off Pacto costs crucial. B&S Group: Bolt-on acquisition in Personal Care. Belgian telcos: BIPT notes that fibre cooperation negotiations not ready by 15 May. EVS: 1Q24 preview. Euronext: Another record, with Beats by Boujnah. Montea: €12m acquisition in the Port of Ghent. Staffing: Dutch Perio...
PROX PROXIMUS SA DE DROIT PUBLIC
ABN ABN AMRO BANK NV DEPOSITARY RECEIPTS
EVS EVS BROADCAST EQUIPMENT SA
RAND RANDSTAD NV
MONT MONTEA SCA
AALB AALBERTS N.V.
BRNL BRUNEL INTERNATIONAL N.V.
TWEKA TKH GROUP N.V. CERT
OBEL ORANGE BELGIUM SA
BSGR B&S GROUP S.A.
ALFEN ALFEN NV
AGN AEGON N.V.
EQS-News: SFC Energy AG continues series of records in the first quart...
EQS-News: SFC Energy AG / Key word(s): Quarterly / Interim Statement SFC Energy AG continues series of records in the first quarter of 2024 – adjusted EBIT margin more than doubled 15.05.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. SFC Energy AG continues series of records in the first quarter of 2024 – adjusted EBIT margin more than doubled Group sales up 45.9% to EUR 40,048 thousand (Q1/2023: EUR 27,454 thousand) Significant increase of 168.8% in adjusted EBITDA to EUR 8,997 thousand (Q1/2023: EUR 3,347 thousand); adjust...
EQS-News: SFC Energy AG setzt Rekordserie mit dem ersten Quartal 2024 ...
EQS-News: SFC Energy AG / Schlagwort(e): Quartals-/Zwischenmitteilung SFC Energy AG setzt Rekordserie mit dem ersten Quartal 2024 fort – bereinigte EBIT-Marge mehr als verdoppelt 15.05.2024 / 07:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. SFC Energy AG setzt Rekordserie mit dem ersten Quartal 2024 fort – bereinigte EBIT-Marge mehr als verdoppelt Konzernumsatz erhöht um 45,9 % auf TEUR 40.048 (Q1/2023: TEUR 27.454) EBITDA bereinigt steigt signifikant um 168,8 % auf TEUR 8.997 (Q1/2023: TEUR 3.347); EBITDA-Marge bereinigt deutl...
- Nicolas David
BEKB BEKAERT SA
IPH INNATE PHARMA SA CLASS A
HOT HOCHTIEF AG
CFEB COMPAGNIE D'ENTREPRISES CFE SA
INH INDUS HOLDING AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
TEG TAG IMMOBILIEN AG
COK CANCOM SE
AALB AALBERTS N.V.
COL INMOBILIARIA COLONIAL SOCIMI SA
MEL MELIA HOTELS INTERNATIONAL S.A.
ALM ALMIRALL SA
DUE DURR AG
BSGR B&S GROUP S.A.
S30 SOLUTIONS 30 SE
NA9 NAGARRO
HGEA HGEARS AG
FORSE FORSEE POWER SA
DEME DEME GROUP NV
- Nicolas David
BEKB BEKAERT SA
IPH INNATE PHARMA SA CLASS A
HOT HOCHTIEF AG
CFEB COMPAGNIE D'ENTREPRISES CFE SA
INH INDUS HOLDING AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
TEG TAG IMMOBILIEN AG
COK CANCOM SE
AALB AALBERTS N.V.
COL INMOBILIARIA COLONIAL SOCIMI SA
MEL MELIA HOTELS INTERNATIONAL S.A.
ALM ALMIRALL SA
DUE DURR AG
BSGR B&S GROUP S.A.
S30 SOLUTIONS 30 SE
NA9 NAGARRO
HGEA HGEARS AG
FORSE FORSEE POWER SA
DEME DEME GROUP NV
- Martijn Den Drijver
AALBERTS : Preview trading update: modest volume headwind ahead of a b...
>Mainly qualitative information, only two numbers to be provided - Aalberts will provide a mainly qualitative trading update on May 22nd at 07.30. No analyst call is planned although we will see Aalberts’ management that day as they are present at our ABN AMRO Benelux conference. The trading update will, normally, contain two numbers: orderbook growth versus the same period last year and organic growth. In addition, Aalberts will say something about its value add, op...
- Carole Braudeau
- Carole Braudeau
- ING Helpdesk
Benelux Morning Notes
AB InBev: Busy BEES. Ahold Delhaize: Small beat, comforting confirmation of 2024 guidance. AMG: 1Q24 better than expected, FY guidance intact, strategic projects on schedule. Bekaert: Soft start to the year with 7% sales miss, FY guidance maintained. Euronav: Transformation at full speed. Marel: Another lacklustre quarter. Montea: 2025 guidance raised, valuations moving into positive territory. SBM Offshore: In-line Q1 trading update. Sif Group: Preview - normal quarter e...
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