reports
Intesa Sanpaolo S.p.A.: 1 director
A director at Intesa Sanpaolo S.p.A. sold 33,510 shares at 4.930EUR and the significance rating of the trade was 62/100. 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 c...
- Benoit Valleaux
- René Locher
Swiss Life : Swiss Life is more than just a life insurer
In this difficult market environment, Swiss Life will continue to stand as a rock in the surf and a safe haven for investors (impressive long term outperformance vs SXIP index of 659%). We see the company achieve or even exceed its 2027 financial targets: 1/ the capital-light and high ROE-generating fee business, which is the growth driver, should reach c.50% of operating profit by 2027, 2/ ROE target range stands at 17-19% (ODDO BHF 2027e: 20%), 3/ cash remittance of CHF 3.6-3.8bn (+28% vs “Swi...
- Carole Braudeau
- Martin Marandon-Carlhian
- Stephane Houri
- Carole Braudeau
- Jakub Krawczyk
- Anthony Dick
- Michael Foundoukidis
- Jakub Krawczyk
- Martin Marandon-Carlhian
- Stephane Houri
- Arnaud Autier
- Pierre Tegner
- Arnaud Autier
- Pierre Tegner
- Oliver Metzger
- Stephan Wulf
- Jan Frederik Slijkerman
- Jeroen van den Broek
- Jesse Norcross
- Nadège Tillier
- Timothy Rahill
- ING Helpdesk
Benelux Morning Notes
ABN AMRO: NFLI reaching c.30% level in its ABN stake reduction. ABN AMRO: Relaunch of Belgium private banking using MeesPierson brand. Elia: FY25 profit outlook unchanged, minor reduction in capex. Greenyard: Disappointing 2H24/25, guidance lowered. NN Group, ASR: Parliament votes against amendment to Dutch Pension Reform
- Guy Sips
- Kristof Samoy
- Lynn Hautekeete
- Michiel Declercq
- Thomas Vranken
- Wim Lewi
Elia Group 1Q25 Trading update
In its 1Q25 trading update, Elia confirmed its FY25 net group profit outlook between EUR 490m and 540m. Elia now uses a lower base rate for the GE regulatory return of 2.30% and 2.80% for ETB. At the FY24 results the Capex FY24-28 was raised by 1.6bn to 31.6bn. 50Hz typically has a higher ROE (8-10%) vs. ETB (7-8%). WindGrid is evaluating Forward Power Offshore, which holds a 25% stake in Leading Light Wind, a project currently facing uncertainty due to executive orders from the Trump Administr...
- Thijs Berkelder
- Martin Marandon-Carlhian
- Stephane Houri
- Anthony Dick
- Michael Foundoukidis
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