reports
- Christophe-Raphaël Ganet
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/10/2024
Brunello Cucinelli’s stock offers investors a rare opportunity to benefit from sustainable and steady growth in high-end luxury thanks to its exclusive positioning, distinctive style and significant potential in Asia. We are initiating coverage with an Outperform rating and a target price of € 110, as the stock is one of the few in the sector with residual upside. - ...
- Christophe-Raphaël Ganet
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 10/04/2024
Le titre Brunello Cucinelli offre aux investisseurs une des rares opportunités de bénéficier de la croissance soutenue et régulière du luxe haut de gamme de par son positionnement exclusif, son empreinte stylistique distinctive et son potentiel de développement important en Asie. Nous initions avec une opinion Surperformance sur la base d’un OC à 110 €, le titre étant parmi les rares du secteur sur lequel nous pouvons encore tabler sur une revalorisation. - ...
- Luis de Toledo Heras
Fluidra : Stable sales to contain margin progression in Q1
>Seasonal factors contain revenues and margin progression - Fluidra will release Q1 2024 results early next month. Q1 2024 are expected to be marginally lower than last year’s levels due to calendar effects (fewer working days due to Easter), sluggish demand in Europe (consumer confidence, macroeconomic and geopolitical factors) and bad weather in the US. The destocking process completed in 2023 prevented a larger decline in sales which we estimate to be rather limit...
Fluidra S.A.: 1 director
A director at Fluidra S.A. sold 10,000 shares at 21.490EUR and the significance rating of the trade was 66/100. 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 sh...
- Research Department
INFORME DIARIO 22 MARZO (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAF, ENAGAS, FLUIDRA, GRIFOLS, IBERDROLA, SANTANDER, SECTOR BANCARIO. EUROPA: AIRBUS. Nuevos máximos anuales Europa recibió con ganancias la decisión de la Fed de mantener los 3 recortes de tipos para 2024, mejorando las previsiones de crecimiento e inflación, pero también festejó la decisión de recortar tipos del Banco de Suiza y el mensaje del Banco de Inglaterra abriendo la puerta a recortar 3 veces en 2024. En el STOXX 600 los mejores sectores d...
Fluidra Proposes a Dividend Distribution of 0.55 Euros Per Share
BARCELONA, Spain--(BUSINESS WIRE)-- Fluidra, the global leader in equipment and connected solutions in the pool and wellness sector, agreed at its Board of Directors meeting to propose to the General Shareholders' Meeting a dividend of 0.55 euros per share. In line with Fluidra’s dividend policy, the proposal implies a 50% payout of 2023 Cash Net Profit. The total payout, subject to approval by the General Shareholders' Meeting on 8 May, 2024, will amount to around 105 million euros. If approved, Fluidra will make a first payment of 0.30 euros per share on 3 July and another payment of 0.25 ...
Fluidra Launches its €20 Million Venture Capital Fund, the First to Sp...
BARCELONA, Spain--(BUSINESS WIRE)-- Fluidra, a global leader in connected equipment and solutions for the pool and wellness sector, is launching Fluidra Ventures, a €20 million corporate venture capital fund (CVC) investment to lead innovation in the sector. The CVC will invest in each startup with the potential to revolutionize the industry on a global scale through their solutions, with a special focus on the United States and Europe. The goal of this first three-year phase is to build a solid portfolio of startups through investing in innovative companies. The CVC will target startup in...
- Jean-Baptiste Rouphael
- Louis Boujard
- CFA
- Marc Lavaud
- Philippe Ourpatian
VIE VEOLIA ENVIRONNEMENT SA
SGO COMPAGNIE DE SAINT-GOBAIN SA
ENGI ENGIE SA.
EDP EDP-ENERGIAS DE PORTUGAL SA
PUM PUMA SE
GRF GRIFOLS S.A. CLASS A
CRG CRH PLC
SIX2 SIXT SE
ACKB ACKERMANS & VAN HAAREN NV
FDR FLUIDRA S.A.
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
INX IMCD N.V.
CLNX CELLNEX TELECOM S.A.
GRF.P GRIFOLS S.A. PREF CLASS B
LDO LEONARDO SPA
RMV RIGHTMOVE PLC
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
DTG DAIMLER TRUCK
AGN AEGON N.V.
- Jean-Baptiste Rouphael
- Louis Boujard
- CFA
- Marc Lavaud
- Philippe Ourpatian
VIE VEOLIA ENVIRONNEMENT SA
SGO COMPAGNIE DE SAINT-GOBAIN SA
ENGI ENGIE SA.
EDP EDP-ENERGIAS DE PORTUGAL SA
PUM PUMA SE
GRF GRIFOLS S.A. CLASS A
CRG CRH PLC
SIX2 SIXT SE
ANA ACCIONA SA
ACKB ACKERMANS & VAN HAAREN NV
FDR FLUIDRA S.A.
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
INX IMCD N.V.
CLNX CELLNEX TELECOM S.A.
GRF.P GRIFOLS S.A. PREF CLASS B
LDO LEONARDO SPA
RMV RIGHTMOVE PLC
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
DTG DAIMLER TRUCK
AGN AEGON N.V.
- Luis de Toledo Heras
Fluidra : Strong end of year and reassuring EBITDA guidance
>Stronger end of the year driving to upper end of the EBITDA range - Good results, slightly above our estimates (+7%) and those of the consensus (+4%) and at the upper end of the guidance range (adjusted EBITDA of € 410m to € 450m) despite the company’s cautiousness in recent communications. The adjusted EBITDA margin stood at 21.7% compared to 22.6% in 9M 2023, reflecting a sound performance despite the traditional weak seasonality in Q4: 18.5% implied margin). Net p...
- Ignacio Romero
FLUIDRA: FY2023 RESULTS AND T.P. UPGRADE (ANÁLISIS BANCO SABADELL)
4Q'23 vs. 4Q'22 Results Sales: € 428.0 M (+1.4% vs. -3.4% BS(e) and -0.3% consensus); EBITDA: € 79.0 M (+5.8% vs. -26.4% BS(e) and -14.3% consensus); Net Profit: € 31.0 M (+248.3% vs. +43.9% BS(e) and +91.0% consensus); FY2023 vs. FY2022 Results Sales: € 2.051 Bn (-14.1% vs. -15.0% BS(e) and -14.4% consensus); EBITDA: € 445.0 M (-13.1% vs. -17.8% BS(e) and -16.0% consensus); Net Profit: € 211.0 M (-21.6% vs. -28.3% BS(e) and -26.8% consensus); The results are above what we and the consensus expe...
- Ignacio Romero
FLUIDRA: RDOS. 2023 Y CAMBIO DE P.O. AL ALZA (ANÁLISIS BANCO SABADELL)
Rdos. 4T'23 vs 4T'22: Ventas: 428,0 M euros (+1,4% vs -3,4% BS(e) y -0,3% consenso); EBITDA: 79,0 M euros (+5,8% vs -26,4% BS(e) y -14,3% consenso); BDI: 31,0 M euros (+248,3% vs +43,9% BS(e) y +91,0% consenso); Rdos. 2023 vs 2022: Ventas: 2.051 M euros (-14,1% vs -15,0% BS(e) y -14,4% consenso); EBITDA: 445,0 M euros (-13,1% vs -17,8% BS(e) y -16,0% consenso); BDI: 211,0 M euros (-21,6% vs -28,3% BS(e) y -26,8% consenso);
Fluidra Results in Line With Guidance, With Sales of €2,051 and EBITDA...
BARCELONA, Spain--(BUSINESS WIRE)-- Fluidra, the global leader in equipment and connected solutions in the pool and wellness sector, achieved sales of €2,051 million in 2023, down 14% compared to the prior year period. This was within the range of expectations, with lower volumes and unfavorable FX more than offsetting higher prices. Residential Pool aftermarket demand was resilient during the year, while demand for new pool construction was softer. Fluidra believes the correction of inventory in the channel is now largely completed. Commercial Pool sales continued to grow, supported by the ...
- Ahmed Ben Salem
- Bruno Cavalier
LHN LAFARGEHOLCIM LTD.
FP TOTAL SE
EQNR EQUINOR ASA
WCH WACKER CHEMIE AG
GALP GALP ENERGIA SGPS SA CLASS B
KNEBV KONE OYJ CLASS B
SLB.N SCHLUMBERGER NV
MC LVMH MOET HENNESSY LOUIS VUITTON SE
GTT GAZTRANSPORT & TECHNIGAZ SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
RCO REMY COINTREAU SA
SBMO SBM OFFSHORE NV
EURN EURONAV NV
AGS AGEAS SA/NV
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
PGS PGS ASA
ZAL ZALANDO SE
ENI ENI S.P.A.
RWE RWE AG
RY4C RYANAIR HOLDINGS PLC
P2F PETROFAC LIMITED
01913 PRADA S.P.A.
REP REPSOL SA
SOC SUBSEA 7 S.A.
BKT BANKINTER SA
SBO SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG
FDR FLUIDRA S.A.
MONC MONCLER SPA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
TRE TECNICAS REUNIDAS SA
LIVS AUTOLIV INC. SDR
DR0 DEUTSCHE ROHSTOFF AG
TEC TECHNIPFMC PLC
BP. BP P.L.C.
CGG CGG
ENOG ENERGEAN PLC
VK VALLOUREC SA
TE TECHNIP ENERGIES NV
FUR FUGRO NV
SHEL SHELL PLC
SPM SAIPEM S.P.A.
SGSN SGS SA
TEN TENARIS S.A.
- Bruno Cavalier
- Oliver Metzger
- Wim Gille
LHN LAFARGEHOLCIM LTD.
FP TOTAL SE
EQNR EQUINOR ASA
WCH WACKER CHEMIE AG
GALP GALP ENERGIA SGPS SA CLASS B
KNEBV KONE OYJ CLASS B
SLB.N SCHLUMBERGER NV
MC LVMH MOET HENNESSY LOUIS VUITTON SE
GTT GAZTRANSPORT & TECHNIGAZ SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
RCO REMY COINTREAU SA
SBMO SBM OFFSHORE NV
EURN EURONAV NV
AGS AGEAS SA/NV
EL ESSILORLUXOTTICA SA
PHIA KONINKLIJKE PHILIPS N.V.
BRBY BURBERRY GROUP PLC
KER KERING SA
PGS PGS ASA
ZAL ZALANDO SE
ENI ENI S.P.A.
RWE RWE AG
RY4C RYANAIR HOLDINGS PLC
P2F PETROFAC LIMITED
01913 PRADA S.P.A.
REP REPSOL SA
SOC SUBSEA 7 S.A.
BKT BANKINTER SA
SBO SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG
FDR FLUIDRA S.A.
MONC MONCLER SPA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
TRE TECNICAS REUNIDAS SA
LIVS AUTOLIV INC. SDR
DR0 DEUTSCHE ROHSTOFF AG
TEC TECHNIPFMC PLC
BP. BP P.L.C.
CGG CGG
ENOG ENERGEAN PLC
VK VALLOUREC SA
TE TECHNIP ENERGIES NV
FUR FUGRO NV
SHEL SHELL PLC
SPM SAIPEM S.P.A.
SGSN SGS SA
TEN TENARIS S.A.
- Luis de Toledo Heras
Fluidra : Turning point reasonably reflected in valuation
>Turning point reached in Q4 2023 - Fluidra will release FY 2024 results next 29 of February and provide annual guidance for 2024. We have slightly cut our estimates to reflect negative FX effects during the last months (1.08 $/€ average 2023 vs 1.05 in 2022) and the group’s cautious guidance in our recent interactions (towards the low end of the guidance range: 2023 sales of € 2-2.1bn, adjusted EBITDA of € 410-450m and Cash EPS of € 0.95-1.15). North America accounte...
- Research Department
IBERIAN DAILY 16 NOVEMBER + 3Q’23 RESULTS. PREVIEWS (ANÁLISIS BANCO SA...
NEWS SUMMARY: BANKING SECTOR, CAF, FLUIDRA. At the end of today’s report, and during the entire results season, we will include a presentation with previews for the 3Q’23 results to be released over the coming days in Spain. Optimism continues The gains (although smaller than on Tuesday) continued on both sides of the Atlantic, with sovereign yields widening, especially following the solid macro data in the US. Thus, in the STOXX 600, Technology and Basic Materials were the best relative perfo...
- Research Department
INFORME DIARIO 16 NOVIEMBRE + RDOS. ESPAÑA 3T’23. PREVIEWS (ANÁLISIS B...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAF, FLUIDRA. EUROPA: PROSUS, SECTOR BANCARIO, SIEMENS. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los previews de Rdos. 3T’23 que se publicarán en España en los próximos días. El optimismo continúa Las ganancias (aunque más moderadas que en la jornada del martes) continuaron a ambos lados del Atlántico mientras que las rentabilidades soberanas ampliaron, sobre todo t...
- Research Department
IBERIAN DAILY 08 NOVEMBER + 3Q’23 RESULTS. HIGHLIGHTS AND REST OF PREV...
NEWS SUMMARY: ACCIONA, ACCIONA ENERGÍA, ACS, CELLNEX, FLUIDRA, ROVI, TELEFÓNICA. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 3Q’23 results to be released over the coming days in Spain. Stability at support levels European stock markets ended flat thanks to the recovery seen at the end of the session after debt yields moderated. In the STOXX 600, Technology and Financial Ser...
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