reports
- Michael B. Schäfer
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...
DBG DERICHEBOURG SA
ALCAR CARMAT SA
TPE PVA TEPLA AG
NEX NEXANS SA
ERG ERG S.P.A.
WIE WIENERBERGER AG
GREEN GREENYARD NV
FCC FOMENTO DE CONSTRUCCIONES Y CONTRATAS S.A.
NVG NAVIGATOR COMPANY SA
COL INMOBILIARIA COLONIAL SOCIMI SA
SIFG SIF HOLDING NV
TMV TEAMVIEWER AG
VK VALLOUREC SA
FPE3 FUCHS PETROLUB SE
- Michael B. Schäfer
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...
DBG DERICHEBOURG SA
ALCAR CARMAT SA
TPE PVA TEPLA AG
NEX NEXANS SA
ERG ERG S.P.A.
WIE WIENERBERGER AG
GREEN GREENYARD NV
FCC FOMENTO DE CONSTRUCCIONES Y CONTRATAS S.A.
NVG NAVIGATOR COMPANY SA
COL INMOBILIARIA COLONIAL SOCIMI SA
SIFG SIF HOLDING NV
TMV TEAMVIEWER AG
VK VALLOUREC SA
FPE3 FUCHS PETROLUB SE
- Chaima Ferrandon
- Sven Edelfelt
Wienerberger : Only a rebound is possible
>Q1 EBITDA down, but above our forecasts thanks to cost savings - Wienerberger reported Q1 2024 sales down at € 952m (volumes -12/13%, scope 4/5%, prices stable) and underlying EBITDA of € 115m. Q1 EBITDA was down 45% but 8% above our forecasts at € 106m. The EBITDA decline is due to the downturn in activity in Q1 2024 and non-recurring items (fall in capacity in Q1 2024 and revaluation of inventories in 2023). The only positive surprise is that savings on fixed cost...
- Chaima Ferrandon
- Sven Edelfelt
Wienerberger : On ne peut que rebondir
>EBITDA T1 en baisse mais supérieur à nos attentes grâce aux économies de coûts - Wienerberger a publié un CA T1 2024 en baisse à 952 M€ (volumes -12/13%, scope 4/5%, prix stables) et un EBITDA courant de 115 M€. L’EBITDA T1 ressort en baisse de 45% mais 8% au-dessus de nos attentes à 106 M€. La baisse de l’EBITDA est due à la baisse d’activité au T1 2024 et à des éléments non-récurrents (baisse des capacités au T1 24 et réévaluation des stocks en 2023). Seule bonne s...
- Research Team
WOOD Daily: INPST NA; GSPARK HB; SFG RO; H2O RO; DIGI RO; AROBS RO; PG...
HEADLINES: • InPost: strong 1Q24, as expected; FY24E guidance maintained; slight volume deceleration in 2Q24 so far POSITIVE • Graphisoft Park: 1Q24 – occupancy and results stable so far; guidance maintained POSITIVE • Sphera Group: 1Q24 above our expectations POSITIVE • Hidroelectrica: 1Q24 – lower power prices offset by no tax on producers NEGATIVE • DIGI Communications: 1Q24 results – adjusted EBITDA up 22% yoy, 6% above our estimate POSITIVE • AROBS Transilvania Software: weak 1Q24 results, ...
HTO HELLENIC TELECOMMUNICATIONS ORGANIZATION SA
PKO PKO BANK POLSKI S.A.
BDX BUDIMEX S.A.
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
GSPARK GRAPHISOFT PARK SE
11B 11 BIT STUDIOS S.A.
DIGI DIGI COMMUNICATIONS NV
RICHT RICHTER
SFG SPHERA FRANCHISE GROUP SA
INPST INPOST S.A.
AROBS AROBS TRANSILVANIA SOFTWARE SA
ELPE HELLENIQ ENERGY
H2O HIDROELECTRICA S.A.
- Research Team
WOOD Daily: CEZ CP; EUR PW; BIMAS TI; RICHT HB; ARABIAND AB; CE4/GR Ma...
HEADLINES: • CEZ: 1Q24 – strong beat on supply and generation POSITIVE • Eurocash: weak 1Q24 across the board NEGATIVE • BIM: 4Q23 results – strong beat POSITIVE • Richter: 1Q24 operations in line, net beat on FX revaluation NEUTRAL • Arabian Drilling: 1Q24 interim results – net income below expectations NEUTRAL • CE4/Greece macro: the consumption recovery – pivoting from necessities to discretionary • Türkiye macro: our takes from our Symposium; a focus on Coca-Cola Icecek, Tupras, and Aselsan ...
EQS-News: wienerberger übernimmt GrainPlastics, einen führenden Anbiet...
EQS-News: Wienerberger AG / Schlagwort(e): Firmenübernahme/Strategische Unternehmensentscheidung wienerberger übernimmt GrainPlastics, einen führenden Anbieter von Drainage- und Kabelschutzlösungen in den Niederlanden 14.05.2024 / 08:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. wienerberger übernimmt GrainPlastics, einen führenden Anbieter von Drainage- und Kabelschutzlösungen in den Niederlanden Mit neuen Produktionsstätten in Leeuwarden und Hoogeveen (NL) erweitert wienerberger sein Lösungsangebot im Bereich Wasser- und Ener...
EQS-News: wienerberger acquires GrainPlastics, a leading provider of d...
EQS-News: Wienerberger AG / Key word(s): Takeover/Strategic Company Decision wienerberger acquires GrainPlastics, a leading provider of drainage and cable protection solutions in the Netherlands 14.05.2024 / 08:30 CET/CEST The issuer is solely responsible for the content of this announcement. wienerberger acquires GrainPlastics, a leading provider of drainage and cable protection solutions in the Netherlands With its new production sites in Leeuwarden and Hoogeveen (NL) wienerberger broadens its range of solutions for water and energy management Acquisition of GrainPla...
ALLETE, Inc. reports first quarter 2024 earnings
DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE, Inc. (NYSE: ALE) today reported first quarter 2024 earnings of 88 cents per share on net income of $50.7 million. Last year’s first quarter results were $1.02 per share on net income of $58.2 million. Net income in 2024 includes interim rate refund reserves of 7 cents per share due to Minnesota Power’s rate case settlement, a 6 cent per share negative impact due to warmer winter weather, and 2 cents per share of transaction expenses related to the recently announced merger. “I am proud of our entire ALLETE team, working diligently on many fronts to ex...
EQS-News: 155th wienerberger Annual General Meeting: All resolutions a...
EQS-News: Wienerberger AG / Key word(s): AGM/EGM 155th wienerberger Annual General Meeting: All resolutions adopted 07.05.2024 / 14:30 CET/CEST The issuer is solely responsible for the content of this announcement. 155th wienerberger Annual General Meeting: All resolutions adopted Dividend of € 0.90 per share Heimo Scheuch, Chairman of the Managing Board of Wienerberger AG: “Perfectly positioned for further growth” Vienna, May 7, 2024 – The 155th Annual General Meeting of Wienerberger AG was held as an on-site meeting at Wiener Stadthalle on May 7, 2024. After the prese...
EQS-News: 155. ordentliche wienerberger Hauptversammlung: Alle Anträge...
EQS-News: Wienerberger AG / Schlagwort(e): Hauptversammlung 155. ordentliche wienerberger Hauptversammlung: Alle Anträge genehmigt 07.05.2024 / 14:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. 155. ordentliche wienerberger Hauptversammlung: Alle Anträge genehmigt Dividende von 0,90 € je Aktie Heimo Scheuch, Vorstandsvorsitzender der Wienerberger AG: „Bestens positioniert, um Wachstum weiter voranzutreiben“ Wien, 07. Mai 2024 – Die 155. ordentliche Hauptversammlung der Wienerberger AG fand am 7. Mai 2024 als Präsenzveranstaltun...
ALLETE Enters Agreement to be Acquired by a Partnership Led by Canada ...
DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE, Inc. (NYSE: ALE) and a partnership led by Canada Pension Plan Investment Board (“CPP Investments”) and Global Infrastructure Partners (“GIP”), (the “partnership”), today jointly announced that they have entered into a definitive agreement under which the partnership will acquire ALLETE for $67.00 per share in cash, or $6.2 billion including the assumption of debt. ALLETE is a leading energy company and provider of safe, reliable, and competitively priced energy with a national footprint. Together, ALLETE and its family of companies, which includes reg...
EQS-News: United Benefits Holding acquires City Tower Vienna for EURO ...
EQS-News: IMMOFINANZ AG / Key word(s): Real Estate/Disposal United Benefits Holding acquires City Tower Vienna for EURO REAL ESTATE from IMMOFINANZ 06.05.2024 / 08:30 CET/CEST The issuer is solely responsible for the content of this announcement. United Benefits Holding acquires City Tower Vienna for EURO REAL ESTATE from IMMOFINANZ Landmark property with 26,600 sqm of usable space at top location in Wien Mitte United Benefits Holding realises acquisition of the “Justizzentrum Wien Mitte“ for EURO REAL ESTATE with a transaction volume of more than 150 million Euros ...
EQS-News: United Benefits Holding erwirbt für EURO REAL ESTATE den Cit...
EQS-News: IMMOFINANZ AG / Schlagwort(e): Immobilien/Verkauf United Benefits Holding erwirbt für EURO REAL ESTATE den City Tower Vienna von der IMMOFINANZ 06.05.2024 / 08:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. United Benefits Holding erwirbt für EURO REAL ESTATE den City Tower Vienna von der IMMOFINANZ Landmark-Immobilie mit 26.600 m² Gesamtnutzfläche an Top-Standort in Wien Mitte United Benefits Holding realisiert für EURO REAL ESTATE den Ankauf des „Justizzentrum Wien Mitte“ mit einem Transaktionsvolumen von mehr als...
Minnesota Power Reaches Electric Rate Settlement With State Agencies a...
DULUTH, Minn.--(BUSINESS WIRE)-- Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), has reached a settlement agreement on its 2024 electric rate proposal with the Minnesota Department of Commerce, Minnesota Attorney General’s Office and Large Power Intervenors. If approved by the Minnesota Public Utilities Commission (MPUC), the agreement would set final rate increases of about 4.9% for residential and small business customers and about 4.4% for industrial and large commercial customers. It also would set Minnesota Power’s return on equity at 9.78% and allow cost recovery outsid...
- Research Team
The Rear-View Mirror – EME markets: all geographies in the green in Ap...
EME Equity Market – April 2024 Market performance – green across all geographies, with Turkey outperforming. The MSCI EM Europe Index was up 5.3% mom in EUR terms and 4.2% mom in USD in April; while the Turkish ISE30 saw the strongest performance, adding 11.6% mom; followed by the Hungarian BUX (+5.0% mom); the Czech PX (+2.8% mom); the Greek ASE (+1.8% mom), the Polish WIG20 (+1.2% mom) and the Romanian BET (+0.1% mom) (all in EUR terms).
EUROB EUROBANK ERGASIAS SERVICES & HOLDINGS SA
PEO BANK POLSKA KASA OPIEKI SA
JMT JERONIMO MARTINS SGPS S.A.
KRU KRUK S.A.
MOL MOL NYRT
EBS ERSTE GROUP BANK AG
CEZ CEZ AS
OMV OMV AG
PKO PKO BANK POLSKI S.A.
ALK ALKALOID AD SKOPJE
SPL SANTANDER BANK POLSKA SA
MIL BANK MILLENNIUM SA
BSK ING BANK SLASKI S.A.
BDX BUDIMEX S.A.
LAMDA LAMDA DEVELOPMENT S.A.
TPS ORANGE POLSKA S.A.
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
LPP LPP S.A.
ASELS ASELSAN ELEKTRONIK SANAYI VE TICARET A.S. CLASS B
CCC CCC SA
CCOLA COCA-COLA ICECEK A.S.
GTC GLOBE TRADE CENTRE S.A.
2310 SAHARA INTERNATIONAL PETROCHEMICAL COMPANY
DOM DOM DEVELOPMENT SA
AEGN AEGEAN AIRLINES SA
BFT BENEFIT SYSTEMS S.A. ALLOTMENT
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
PGSUS.E PEGASUS HAVA TASIMACILIGI AS
APR AUTO PARTNER SA
TPEIR PIRAEUS BANK SA
ALPHA ALPHA BANK AE
PPC PUBLIC POWER CORPORATION S.A.
OTP OTP BANK NYRT
CAR INTER CARS S.A.
ARCLK ARCELIK A.S.
FROTO FORD OTOMOTIV SANAYI A.S.
THYAO TURK HAVA YOLLARI A.O.
TUPRS TURKIYE PETROL RAFINERILERI A.S.
EUR EUROCASH S.A.
CPS CYFROWY POLSAT SA
MBR MO-BRUK S.A.
GPW WARSAW STOCK EXCHANGE
11B 11 BIT STUDIOS S.A.
ALR ALIOR BANK SA
OTOEL AUTOHELLAS S.A.
VGO VIGO SYSTEM SA
WPL WIRTUALNA POLSKA HOLDING SA
TLV BANCA TRANSILVANIA S.A.
MONET MONETA MONEY BANK AS
H4L1 HALYK SAVINGS BANK OF KAZAKHSTAN GDR
SNP PETROM S.A.
DIGI DIGI COMMUNICATIONS NV
DNP DINO POLSKA S.A.
NBGGY NATIONAL BANK OF GREECE S.A. ADS
SNN SOCIETATEA NATIONALA NUCLEARELECTRICA SA
ELSA SOCIETATEA ENERGETICA ELECTRICA
GEB BANK OF GEORGIA
M MED LIFE
ADNOCDIST ADNOC DISTRIBUTION PJSC
SOKM SOK MARKETLER TICARET AS
KAP NATIONAL ATOMIC COMPANY KAZATOMPROM
TEN TEN SQUARE GAMES
ALG ALLEGRO.EU SA
CZG CESKA ZBROJOVKA GROUP
KSPI KASPI KZ
INPST INPOST S.A.
HUGE HUUUGE
PCO PEPCO GROUP NV
GPP KAZMUNAYGAS NC JSC
KLKIM GRUPA PRACUJ DA
ADNOCDRILL KALEKIM KIMYEVI MADDELER SANAYI VE TICARET AS
AROBS ADNOC DRILLING CO
2381 AROBS TRANSILVANIA SOFTWARE SA
9526 ARABIAN DRILLING CO.
SHO JAHEZ INTERNATIONAL CO
BOROUGE SHOPER SA
AIRA BOROUGE
GEV AIR ASTANA JSC
GEVORKYAN A.S.
- Research Team
WOOD Daily: CTPNV NA; GE Macro; RBI AV; AIRA LI; TPEIR GA; ALK MS; ETE...
HEADLINES: • CTP: better late than never (upgraded to BUY) • Georgia macro: protests in Tbilisi • Raiffeisen Bank International: posts solid 1Q24, keeps 2024E guidance (but only on ex. Russia and Belarus basis), facing huge pressure to address Russia and Belarus exposures from officials • Air Astana Group: 1Q24 – 15% ASK growth, RASK down slightly yoy, but CASK stable • Piraeus Financial Holdings: 1Q24 highlights NEUTRAL • Alkaloid: 1Q24 numbers a strong start to the year POSITIVE • National Ban...
- Research Team
WOOD Daily: SPL PW; PEO PW; PCF PW; EBS AV; OMV AV; BOROUGE UH; SNP RO...
HEADLINES: • Santander Bank Polska: 1Q24 results – 19%+ headline ROE affected only slightly by FX mortgage saga costs • Bank Pekao: 1Q24 results in line with market's expectations NEUTRAL • PCF Group: 4Q23 headlines hit heavily by write-offs, but a more limited EBITDA loss than we had expected NEUTRAL • Erste Bank: 1Q24 results NEUTRAL • OMV: 1Q24 results – chemicals stronger than expected NEUTRAL • Borouge: 1Q24 results – better than expected POSITIVE • OMV Petrom: 1Q24 results NEUTRAL • Garan...
- Gabor Bukta
- Szabolcs Pal
CEE Banks – Great opportunities with different risk profiles
The CEE region is expected to deliver a moderate rebound of GDP growth in 2024,following the preceding year’s weak growth, fuelling expectations of sustainable profits inthe banking sector. Inflation is seen to be twin faced in our region, similar to most of the coreeconomies. Even with a diminished potential for much intra-year improvement of the inflationpath in 2024, this inflation provides several CEE central banks more room to cut policy ratesthis year. Lower interest rates are expected to ...
ALLETE Board of Directors declares dividend on common stock
DULUTH, Minn.--(BUSINESS WIRE)-- The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 70.50 cents per share of common stock. On an annual basis the dividend is equivalent to $2.82 per share, unchanged from the previous quarter. The regular quarterly dividend is payable June 1 to common stock shareholders of record at the close of business May 15, 2024. ALLETE Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, b...
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