reports
- 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
- Olfa Taamallah
- Yan Derocles
RENK : Solid start to the year (except at the order intake level)
>Solid start to the year – Low order intake only temporary - Q1 2024 adjusted EBIT came in c8% above our forecasts (no consensus available) at € 27.8m (+45.5%) on sales of € 238m, up 22.5%, representing a margin of 11.8% driven by defence and after-market. The solid performance was visible across the board with i/ at VMS, the first tangible effects of the measures put in place in Augsburg at the end of last year with a 15.3% increase in adjusted EBIT to € 20m, ii/ eve...
- Olfa Taamallah
- Yan Derocles
RENK : Solid start to the year (except at the order intake level)
>Solid start to the year – Low order intake only temporary - Q1 2024 adjusted EBIT came in c8% above our forecasts (no consensus available) at € 27.8m (+45.5%) on sales of € 238m, up 22.5%, representing a margin of 11.8% driven by defence and after-market. The solid performance was visible across the board with i/ at VMS, the first tangible effects of the measures put in place in Augsburg at the end of last year with a 15.3% increase in adjusted EBIT to € 20m, ii/ eve...
EQS-News: RENK Group AG starts into the new fiscal year with strong re...
EQS-News: RENK Group AG / Key word(s): Quarter Results RENK Group AG starts into the new fiscal year with strong revenue growth – guidance confirmed 15.05.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Q1 2024 results: RENK Group AG starts into the new fiscal year with strong revenue growth – guidance confirmed Strong revenue growth driven by defense and aftermarket-related business: € 238 million (Q1 2023: € 194 million) Order intake at € 208 million (Q1 2023: € 458 million), USD 100 million contract awarded by the US Army...
EQS-News: RENK Group AG startet mit starkem Umsatzwachstum in das neue...
EQS-News: RENK Group AG / Schlagwort(e): Quartalsergebnis RENK Group AG startet mit starkem Umsatzwachstum in das neue Geschäftsjahr – Finanzprognose wird bestätigt 15.05.2024 / 07:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Ergebnisse Q1 2024: RENK Group AG startet mit starkem Umsatzwachstum in das neue Geschäftsjahr – Finanzprognose wird bestätigt Starkes Umsatzwachstum getrieben durch Verteidigungs- und Aftermarket-Geschäft: 238 Mio. € (Q1 2023: 194 Mio. €) Auftragseingang bei 208 Mio. € (Q1 2023: 458 Mio. €), ~100 Mio. U...
- Baptiste Lebacq
FP TOTAL SE
AMS AMS AG
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ENI ENI S.P.A.
REP REPSOL SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
GNFT GENFIT SA
SIGHT GENSIGHT BIOLOGICS SA
WAF SILTRONIC AG
XIL XILAM ANIMATION SA
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
BP. BP P.L.C.
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
WOLF SOCIETE LDC SOCIETE ANONYME
ALKAL KALRAY SA
JEN JENOPTIK AG
TMV TEAMVIEWER AG
INPST INPOST S.A.
HDF HYDROGENE DE FRANCE
SHEL SHELL PLC
FLOW FLOW TRADERS LTD
ARM ARM HOLDINGS PLC
R3NK RENK GROUP AG
- Baptiste Lebacq
- Emmanuel Matot
FP TOTAL SE
AMS AMS AG
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ENI ENI S.P.A.
REP REPSOL SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
GNFT GENFIT SA
SIGHT GENSIGHT BIOLOGICS SA
WAF SILTRONIC AG
XIL XILAM ANIMATION SA
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
BP. BP P.L.C.
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
WOLF SOCIETE LDC SOCIETE ANONYME
ALKAL KALRAY SA
JEN JENOPTIK AG
TMV TEAMVIEWER AG
INPST INPOST S.A.
HDF HYDROGENE DE FRANCE
SHEL SHELL PLC
FLOW FLOW TRADERS LTD
ARM ARM HOLDINGS PLC
R3NK RENK GROUP AG
- Olfa Taamallah
- Yan Derocles
RENK : Neutral vs Outperform – a strained valuation for a slightly wea...
>Strong visibility and momentum in order intake - RENK already has strong visibility with an order book (including frame and soft) offering the equivalent of 5 years of sales, but we think that the momentum is unlikely to waver in the coming months with the expectation of a book-to-bill above 1.4x in FY 2024, driven sharply by VMS. Many tender bids are underway in defence, notably for Italy (A2CS programme for infantry vehicles and tank purchases), the Czech Republic ...
- Olfa Taamallah
- Yan Derocles
RENK : Neutre vs Surperformance – une valorisation tendue pour un prof...
>Forte visibilité et prises de commandes dynamiques - Renk dispose déjà d’une forte visibilité avec un carnet de commandes (y compris frame et soft) offrant l’équivalent de 5 années de CA, mais nous pensons que la dynamique ne faiblira pas dans les prochains mois avec l’anticipation d’un book-to-bill supérieur à 1.4x en FY 24, fortement tiré par VMS. De nombreux appels d’offre sont en effet en cours dans la défense avec notamment l’Italie (programme A2CS pour les véhi...
- Anis Zgaya
- Philippe Ourpatian
ODDO BHF Small & MIDCAP MORNING NEWS - 27/03/2024 Date Performance dep...
Rieter est leader mondial dans les équipements de filature à fibres courtes destinés au marché textile. Il s’agit d’une activité à cycles courts (4 ans en moyenne) dont l’exercice 2024 devrait représenter un point bas avec un CA proche de 1 MdCHF (-28% y-o-y). Le programme de performance « Next Level », présenté en juillet 2023, devrait permettre de réduire la cyclicité du business model et de revenir sur des niveaux normatifs de rentabilité (c. 6% de marge d’EBIT). Rieter est donc en...
- Anis Zgaya
- Philippe Ourpatian
ODDO BHF Small & MIDCAP MORNING NEWS - 03/27/2024 Date Performance sin...
Rieter is the world’s leading supplier of short-staple fibre spinning equipment designed primarily for textile, a short-cycle business that spans four years on average. The group is set to hit a low in 2024 with close to CHF 1bn in revenues, down 28% YoY. Next Level, a performance programme presented in July 2023, should enable the group to reduce the cyclicality of its business model and return to normal profitability with around 6% in EBIT margin. Rieter is indeed on track to embark...
- Olfa Taamallah
- Yan Derocles
RENK : FY 2023 in line – Q4 acceleration bodes well for FY 2024
>FY 2023 print in line apart from temporary pressure on WC - Renk has just released FY 2023 results broadly in line with our estimates, with a visible recovery in Q4 after a build-up of the work-in progress inventory in Q3 23 due to supply-chain bottlenecks. Adjusted EBIT came in at € 150m (ODDO BHF: € 150m), +3.9%, on sales of € 926m, up 9% including the acquisition of Kinetics (compared with the company's target of around € 925m), giving a margin of 16.2% (-80bp). T...
- Olfa Taamallah
- Yan Derocles
RENK : FY 2023 in line – Q4 acceleration bodes well for FY 2024
>FY 2023 print in line apart from temporary pressure on WC - Renk has just released FY 2023 results broadly in line with our estimates, with a visible recovery in Q4 after a build-up of the work-in progress inventory in Q3 23 due to supply-chain bottlenecks. Adjusted EBIT came in at € 150m (ODDO BHF: € 150m), +3.9%, on sales of € 926m, up 9% including the acquisition of Kinetics (compared with the company's target of around € 925m), giving a margin of 16.2% (-80bp). T...
EQS-News: Fiscal year 2023: RENK Group AG continues profitable growth...
EQS-News: RENK Group AG / Key word(s): Annual Results/Annual Results Fiscal year 2023: RENK Group AG continues profitable growth trajectory 27.03.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Fiscal year 2023: RENK Group AG continues profitable growth trajectory Further revenue growth: 926 million euros (2022: 849 million euros) Record for order intake: approaching 1.3 billion euros (2022: 987 million euros) Total order backlog at record high (4.6 billion euros) EBIT: 150 million euros (2022: 144 million euros) Sustain...
EQS-News: Geschäftsjahr 2023: RENK Group AG setzt profitablen Wachstum...
EQS-News: RENK Group AG / Schlagwort(e): Jahresergebnis/Jahresergebnis Geschäftsjahr 2023: RENK Group AG setzt profitablen Wachstumskurs fort 27.03.2024 / 07:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Geschäftsjahr 2023: RENK Group AG setzt profitablen Wachstumskurs fort Weiteres Umsatzwachstum: 926 Millionen Euro (2022: 849 Millionen Euro) Rekord beim Auftragseingang: Knapp 1,3 Milliarden Euro (2022: 987 Millionen Euro) Gesamtauftragsbestand auf Rekordniveau (4,6 Milliarden Euro) EBIT: 150 Millionen Euro (2022: 144 Milli...
- Olfa Taamallah
- Yan Derocles
RENK : Strong visibility on core markets set to drive growth
As a key player in mission-critical drive technologies, RENK is among the beneficiaries of good prospects for the defence sector given expanding budgets in Europe notably, with a projected EBIT CAGR of 14% for 2022-2026. We deem the business model to be attractive and we particularly appreciate its high exposure to defence (70% of end-market), technological leadership, growing aftermarket share and the opportunities behind the “New Energy” segment. We are initiating coverage with...
EQS-News: Dr. Alexander Sagel wird Vorstandsmitglied der RENK Group AG
EQS-News: RENK Group AG / Schlagwort(e): Personalie Dr. Alexander Sagel wird Vorstandsmitglied der RENK Group AG 05.03.2024 / 20:48 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. RENK erweitert Vorstand Der Aufsichtsrat der RENK Group AG hat Dr. Alexander Sagel zum dritten Vorstandsmitglied des Unternehmens berufen. Augsburg - 05. März 2024. Der Aufsichtsrat der RENK Group AG hat den promovierten Ingenieur Dr. Alexander Sagel mit Wirkung zum 1. April 2024 zum Mitglied des Vorstands bestellt. Dr. Sagel übernimmt die operative St...
EQS-News: Dr. Alexander Sagel becomes member of the Executive Board of...
EQS-News: RENK Group AG / Key word(s): Personnel Dr. Alexander Sagel becomes member of the Executive Board of RENK Group AG 05.03.2024 / 20:48 CET/CEST The issuer is solely responsible for the content of this announcement. RENK expands Executive Board The Supervisory Board of RENK Group AG has appointed Dr. Alexander Sagel as the company's third member of the Executive Board. Augsburg - March 05, 2024 - The Supervisory Board of RENK Group AG has appointed Dr. Alexander Sagel, who holds a doctorate in engineering, as a member of the Executive Board with effect from Ap...
EQS-News: Successful refinancing and rating upgrade
EQS-News: RENK Group AG / Key word(s): Financing Successful refinancing and rating upgrade 27.02.2024 / 16:17 CET/CEST The issuer is solely responsible for the content of this announcement. Successful refinancing and rating upgrade Following its successful public listing on February 7, 2024, RENK Group AG also pushed ahead with the refinancing of its debt. The €520m corporate bond (5.75% senior secured notes due 2025) was redeemed on February 20 and replaced by a €525m term loan from a consortium of banks. The term loan has a maturity of 5 years and is supplemented by a ...
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