reports
- Emmanuel Matot
- Marc Lavaud
- Michael Foundoukidis
- Emmanuel Matot
- Marc Lavaud
- Michael Foundoukidis
- Olfa Taamallah
- Yan Derocles
RENK : Visibility + self-help + geographic diversification = a winning...
>Strong visibility and desensitisation to short-term political hazards in Germany - At a road show in Paris, management indicated that it anticipates FY 2025 revenue growth in line with the medium-term CAGR of c.15% (ODDO BHF: 19.8% in FY 2024 and 14.6% in FY 2026, Visible Alpha consensus: 18.6% and 16.1%) notably buoyed by VMS. Renk feels relatively immune to the vagaries of German politics since the big orders (Leopard, Puma, F126 frigates, Howitzer, etc.) have alre...
- Olfa Taamallah
- Yan Derocles
RENK : Visibilité + self-help + diversification géographique = cocktai...
>Forte visibilité et désensibilisation aux aléas court terme de la politique allemande - Lors d’un road show organisé à Paris, le management a indiqué tabler sur une croissance du CA FY 25 en ligne avec l’objectif moyen-terme de TMVA de c.15% (ODDO BHF : 19.8% en FY 24 et 14.6% en FY 26, VA css : 18.6% et 16.1%) portée notamment par VMS. Renk se sent relativement immunisé face aux aléas politiques allemands puisque les commandes majeures (Leopard, Puma, frégates F126,...
- Maissa Keskes
- Stephane Houri
TEMN TEMENOS AG
LEI LEIFHEIT AG
ITP INTERPARFUMS
IPH INNATE PHARMA SA CLASS A
VOE VOESTALPINE AG
TPE PVA TEPLA AG
SIX2 SIXT SE
WIE WIENERBERGER AG
TEG TAG IMMOBILIEN AG
DLG DE'LONGHI S.P.A.
JUN3 JUNGHEINRICH AG PREF
TKWY JUST EAT TAKEAWAY.COM N.V.
BSGR B&S GROUP S.A.
AG1 AUTO1 GROUP
SPAC 468 SPAC I SE
IOS IONOS GROUP SE
R3NK RENK GROUP AG
- Maissa Keskes
- Stephane Houri
TEMN TEMENOS AG
LEI LEIFHEIT AG
ITP INTERPARFUMS
IPH INNATE PHARMA SA CLASS A
VOE VOESTALPINE AG
TPE PVA TEPLA AG
SIX2 SIXT SE
WIE WIENERBERGER AG
TEG TAG IMMOBILIEN AG
DLG DE'LONGHI S.P.A.
JUN3 JUNGHEINRICH AG PREF
TKWY JUST EAT TAKEAWAY.COM N.V.
BSGR B&S GROUP S.A.
AG1 AUTO1 GROUP
SPAC 468 SPAC I SE
IOS IONOS GROUP SE
R3NK RENK GROUP AG
- Olfa Taamallah
- Yan Derocles
RENK : Q3 2024 EBIT 10.5%> css driven by the expected accelerated top-...
>Q3 adj. EBIT 10.5% ahead of css driven by VMS - Q3 2024 is showing the first effects of production getting back under control, albeit with some remaining inefficiencies. At € 43m (+6%), adjusted EBIT came in 10.5% ahead of expectations (ODDO BHF: € 35.9m; Vara css: € 38.9m) on sales growth of 10.5% to € 268m, giving a margin of 16.2% (-70bp). Deviation from the css stems essentially from VMS (+12% vs css at EBIT level), marking a return to normalised volumes at the t...
- Olfa Taamallah
- Yan Derocles
RENK : Q3 2024 EBIT 10.5%> css driven by the expected accelerated top-...
>Q3 adj. EBIT 10.5% ahead of css driven by VMS - Q3 2024 is showing the first effects of production getting back under control, albeit with some remaining inefficiencies. At € 43m (+6%), adjusted EBIT came in 10.5% ahead of expectations (ODDO BHF: € 35.9m; Vara css: € 38.9m) on sales growth of 10.5% to € 268m, giving a margin of 16.2% (-70bp). Deviation from the css stems essentially from VMS (+12% vs css at EBIT level), marking a return to normalised volumes at the t...
EQS-News: Ergebnisse 9M 2024: RENK Group AG weiter auf Wachstumskurs –...
EQS-News: RENK Group AG / Schlagwort(e): Quartalsergebnis/9-Monatszahlen Ergebnisse 9M 2024: RENK Group AG weiter auf Wachstumskurs – Konzernumsatz steigt in den ersten neun Monaten um 19 % - Jahresprognose bestätigt 13.11.2024 / 07:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Ergebnisse 9M 2024: RENK Group AG weiter auf Wachstumskurs – Konzernumsatz steigt in den ersten neun Monaten um 19 % - Jahresprognose bestätigt Konzernumsatz legt in 9M 2024 um 19,3 % auf 778 Mio. € (9M 2023: 653 Mio. €) zu Anstieg des bereinigten 9M...
EQS-News: Results 9M 2024: The RENK Group AG continues to demonstrate ...
EQS-News: RENK Group AG / Key word(s): Quarter Results/9 Month figures Results 9M 2024: The RENK Group AG continues to demonstrate positive growth – Revenue up 19% in first nine months- Annual forecast confirmed 13.11.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Results 9M 2024: The RENK Group AG continues to demonstrate positive growth – Revenue up 19% in first nine months – Annual forecast confirmed Consolidated sales revenue increases in 9M 2024 by 19.3% to € 778 million (9M 2023: € 653 million) Increase in adjusted ...
- Cosmin Filker
- Marcel Goldmann
- Marcel Schaffer
- Matthias Greiffenberger
GBC Best of German Mittelstand - 29.10.2024
Liebe Investoren, hätten Sie unmittelbar nach Ausbruch des Ukraine-Krieges einen DAX-ETF gekauft, würden Sie sich heute über eine Performance von über 35 % freuen. Hätten Sie dagegen im gleichen Zeitraum in die kleineren deutschen Aktienindizes investiert, hätten Sie im besten Fall keinen Verlust gemacht, im schlechtesten Fall ein Minus von mehr als 15 %. Seit nunmehr fast drei Jahren gilt die Börsenweisheit nicht mehr, dass kleinere Unternehmen zwar ein höheres Risiko aufweisen als Large Cap...
- Baptiste Salaville
- Charlotte Vaisse
- Olfa Taamallah
- Thomas Zlowodzki
- Yan Derocles
- Baptiste Salaville
- Charlotte Vaisse
- Olfa Taamallah
- Thomas Zlowodzki
- Yan Derocles
- Olfa Taamallah
- Yan Derocles
RENK : Q3 preview – A transition quarter ahead of an acceleration in g...
>A quarter characterised by getting production under control… - Renk is due to report its Q3 2024 figures on 30 November, with the quarter set to see the initial notable effects of the group getting production back under control at Augsburg (Germany) as in Muskegon (US). We forecast revenues of € 265.2m (+9.4%) with seasonality for the Marine & Industry business (high comps from Q3 2023 with the delivery for the Navy segment) masking i/ a significant acceleration in d...
- Olfa Taamallah
- Yan Derocles
RENK : Preview T3 – Un trimestre de transition avant une accélération ...
>Un trimestre de reprise en main… - Renk publiera son T3 2024 le 30 novembre, trimestre où nous anticipons les premiers effets notables de la reprise en main de la production à Augsburg (Allemagne) comme à Muskegon (Etats-Unis). Nous tablons sur un CA de 265.2 M€ (+9.4%) où la saisonnalité de l’activité Marine & Industry (base de comparaison élevée au T3 2023 liée aux livraisons pour le segment Navy) masque i/ la forte accélération des livraisons de transmissions avec...
- Olfa Taamallah
- Yan Derocles
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/26/2024
‘Soft landing’... the term is in vogue and we think it aptly describes the current situation in the energy market. After a period of “excess profits”, the fundamentals are back in favour and prompt us to revise down our estimates for energy prices. - Alongside renewable energies, pockets of sustainable value creation are emerging for players capable of capitalising on the structural growth in volatility on the electricity markets but which are nonetheless trading at a discount In the U...
UBI UBISOFT ENTERTAINMENT SA
RR. ROLLS-ROYCE HOLDINGS PLC
ETL EUTELSAT COMMUNICATIONS SA
SESGL SES SA FDR (CLASS A)
PROX PROXIMUS SA DE DROIT PUBLIC
KPN ROYAL KPN NV
MTX MTU AERO ENGINES AG
ORA ORANGE SA
HO THALES SA
SW SODEXO SA
EN BOUYGUES SA
FGA FIGEAC AERO SA
UTDI UNITED INTERNET AG
RHM RHEINMETALL AG
COLR ETABLISSEMENTEN FRANZ COLRUYT N.V.
GAMA GAMMA COMMUNICATIONS
FII LISI SA
NXT NEXT PLC
BAS BASF SE
SAF SAFRAN S.A.
AIR AIRBUS SE
DTE DEUTSCHE TELEKOM AG
BA. BAE SYSTEMS PLC
HM B H&M HENNES & MAURITZ AB CLASS B
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
LDO LEONARDO SPA
SIE SIEMENS AG
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
FDJ LA FRANCAISE DES JEUX SA
HAG HENSOLDT AG
AERO MONTANA AEROSPACE AG
AM DASSAULT AVIATION
SHEL SHELL PLC
LAT LATECOERE
R3NK RENK GROUP AG
- Olfa Taamallah
- Yan Derocles
ODDO BHF Small & MIDCAP MORNING NEWS - 09/26/2024
tonies is a pioneer in the children’s audio entertainment and educational industry, offering a screen-free and interactive listening experience (stories and music) through its Toniebox and Tonies figurines. With a proven track record of rapid international growth, portfolio expansion and strong brand recognition mainly in the DACH region (Germany, Austria and Switzerland) and North America, we see in the coming years: 1/ further strong revenue increases (CAGR 2024-2026e of 25%) with a...
RR. ROLLS-ROYCE HOLDINGS PLC
ETL EUTELSAT COMMUNICATIONS SA
SESGL SES SA FDR (CLASS A)
PROX PROXIMUS SA DE DROIT PUBLIC
KPN ROYAL KPN NV
MTX MTU AERO ENGINES AG
ORA ORANGE SA
HO THALES SA
EN BOUYGUES SA
SDG SYNERGIE SA
INF INFOTEL SA
FGA FIGEAC AERO SA
UTDI UNITED INTERNET AG
RHM RHEINMETALL AG
BEN BENETEAU SA
GAMA GAMMA COMMUNICATIONS
FII LISI SA
GBT GUERBET SA
GOE GROUPE GORGE SA
SAF SAFRAN S.A.
AIR AIRBUS SE
DTE DEUTSCHE TELEKOM AG
BA. BAE SYSTEMS PLC
VRNL VERNEUIL PARTICIPATIONS
MONT MONTEA SCA
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
AXS ACCSYS TECHNOLOGIES
CLNX CELLNEX TELECOM S.A.
HBH HORNBACH HOLDING AG & CO. KGAA
FNTN FREENET AG
LDO LEONARDO SPA
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
HAG HENSOLDT AG
AERO MONTANA AEROSPACE AG
AM DASSAULT AVIATION
ALVGO VOGO SA
LAT LATECOERE
R3NK RENK GROUP AG
ARVEN ARVERNE GROUP SA
- Olfa Taamallah
- Yan Derocles
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/09/2024
“Soft landing”… le terme est à la mode et nous pensons qu’il caractérise bien la situation du marché de l’énergie aujourd’hui. Après une parenthèse de « surprofits », les fondamentaux reprennent leur droit et nous conduisent à réviser en baisse nos hypothèses de prix de l’énergie. A côté du renouvelable, des poches pérennes de création de valeur apparaissent pour les acteurs capables de profiter de la croissance structurelle de la volatilité des marchés électriques et qui souffrent ma...
UBI UBISOFT ENTERTAINMENT SA
RR. ROLLS-ROYCE HOLDINGS PLC
ETL EUTELSAT COMMUNICATIONS SA
SESGL SES SA FDR (CLASS A)
PROX PROXIMUS SA DE DROIT PUBLIC
KPN ROYAL KPN NV
MTX MTU AERO ENGINES AG
ORA ORANGE SA
HO THALES SA
SW SODEXO SA
EN BOUYGUES SA
FGA FIGEAC AERO SA
UTDI UNITED INTERNET AG
RHM RHEINMETALL AG
COLR ETABLISSEMENTEN FRANZ COLRUYT N.V.
GAMA GAMMA COMMUNICATIONS
FII LISI SA
NXT NEXT PLC
BAS BASF SE
SAF SAFRAN S.A.
AIR AIRBUS SE
DTE DEUTSCHE TELEKOM AG
BA. BAE SYSTEMS PLC
HM B H&M HENNES & MAURITZ AB CLASS B
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
LDO LEONARDO SPA
SIE SIEMENS AG
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
FDJ LA FRANCAISE DES JEUX SA
HAG HENSOLDT AG
AERO MONTANA AEROSPACE AG
AM DASSAULT AVIATION
SHEL SHELL PLC
LAT LATECOERE
R3NK RENK GROUP AG
- Olfa Taamallah
- Yan Derocles
ODDO BHF Small & MIDCAP MORNING NEWS - 26/09/2024
tonies is a pioneer in the children’s audio entertainment and educational industry, offering a screen-free and interactive listening experience (stories and music) through its Toniebox and Tonies figurines. With a proven track record of rapid international growth, portfolio expansion and strong brand recognition mainly in the DACH region (Germany, Austria and Switzerland) and North America, we see in the coming years: 1/ further strong revenue increases (CAGR 2024-2026e of 25%) with a...
RR. ROLLS-ROYCE HOLDINGS PLC
ETL EUTELSAT COMMUNICATIONS SA
SESGL SES SA FDR (CLASS A)
PROX PROXIMUS SA DE DROIT PUBLIC
KPN ROYAL KPN NV
MTX MTU AERO ENGINES AG
ORA ORANGE SA
HO THALES SA
EN BOUYGUES SA
SDG SYNERGIE SA
INF INFOTEL SA
FGA FIGEAC AERO SA
UTDI UNITED INTERNET AG
RHM RHEINMETALL AG
BEN BENETEAU SA
GAMA GAMMA COMMUNICATIONS
FII LISI SA
GBT GUERBET SA
GOE GROUPE GORGE SA
SAF SAFRAN S.A.
AIR AIRBUS SE
DTE DEUTSCHE TELEKOM AG
BA. BAE SYSTEMS PLC
VRNL VERNEUIL PARTICIPATIONS
MONT MONTEA SCA
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
AXS ACCSYS TECHNOLOGIES
CLNX CELLNEX TELECOM S.A.
HBH HORNBACH HOLDING AG & CO. KGAA
FNTN FREENET AG
LDO LEONARDO SPA
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
HAG HENSOLDT AG
AERO MONTANA AEROSPACE AG
AM DASSAULT AVIATION
ALVGO VOGO SA
LAT LATECOERE
R3NK RENK GROUP AG
ARVEN ARVERNE GROUP SA
- Olfa Taamallah
- Yan Derocles
ODDO : Impact de la grève Boeing sur les fournisseurs : attention au F...
>Au 14ème jour de grève - Les 30 000 employés du syndicat International Association of Machinists (IAM 751) entrent dans leur 14ème jour de grève (votée à 96%) après avoir notamment demandé une hausse de salaires de 40% étalée sur 4 années et l’engagement d’une production du prochain avion de Boeing à Seattle. L’acceptation de ces demandes se matérialiserait par une progression de la base de coûts d’environ 1.4 Md$e. De son côté, Boeing avait proposé une hausse de sal...
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