1Q24 sales decreased 5.3% to € 993m, or 3.2% below CSS expectations driven by soft results in N-A. Although the 1Q24 adj. EBIT of € 62.1m came in below expectations (kbcse: € 71.6m, css: € 69.7m), we want to highlight that the adj. EBIT was impacted by € 7.7m in M&A costs related to the Staci acquisition. Excluding this effect, profitability was in line with expectations driven by solid cost savings in E-logistics. Additionally, bpost mentioned that it does not expect any restructuring costs in ...
Founded in 1959, Leifheit AG is one of the leading European brand suppliers of household items. The group divides its operating business into the household, wellbeing and private label segments. In view of its growing turnover (CAGR of +2.8% for 2023 to 2026e) and EBIT margins (+290bp to 5.2% in 2026e vs 2023), as well as its solid financial profile (equity ratio of about 50%, average net cash position of c. € 40m for 2024e to 2026e, average positive FCF of c. € 11m for 2024e to 2026e...
Founded in 1959, Leifheit AG is one of the leading European brand suppliers of household items. The group divides its operating business into the household, wellbeing and private label segments. In view of its growing turnover (CAGR of +2.8% for 2023 to 2026e) and EBIT margins (+290bp to 5.2% in 2026e vs 2023), as well as its solid financial profile (equity ratio of about 50%, average net cash position of c. € 40m for 2024e to 2026e, average positive FCF of c. € 11m for 2024e to 2026e...
Aperam: In-line 1Q24 EBITDA, FCF marked by WC build, 2Q24 guidance below consensus. Ayvens: Taking the brakes off. BAM: Not the best start to the year. bpost: 1Q24 in line with consensus but beat vs INGF, no outlook yet. Brunel International: good set of 1Q24 results – 5% beat on EBIT, comforting trends. B&S Group: Preview - should be a non-event. DEME Group: Preview - should be a non-event. D'Ieteren: Febiac April registrations flat YoY, VW brands up 8.4%. GBL: NAV per share in ...
>Top-line pressures and one-off costs - Bpost experienced pressure on both its Q1 24 revenues as well as its operating earnings. Group operating income (i.c. revenue) for the quarter came in at € 993m and adjusted EBIT at € 62m, respectively -3% and -11% vs. ccs, and -6% and -3% vs. our estimates. Bpost’s results continue to be driven by (a slowing) Belgium and E-Logistics Eurasia, while E-Logistics NA performed poorly once again due to challenging market conditions. ...
• The Q1-24 REBIT was somewhat below expectations, mainly on higher corporate costs. No concrete FY24 guidance as not all negotiations on press distribution are finalized yet and impact is still unclear.• The planned acquisition of Staci can strategically be justified, but in our view it looks stretched financially, both on multiple paid and on resulting leverage. • Although multiples appear undemanding, we stick to Hold. There are still many uncertainties.
PARIS--(BUSINESS WIRE)-- Regulatory News: Vivendi (Paris:VIV): Place de cotation : NYSE Euronext-Paris Compartiment : Eurolist A Code ISIN : FR0000127771 Date Nombre total d’actions composant le capital social Nombre total de droits de vote 30 avril 2024 1 029 918 125 Total brut (1) de droits de vote : 1 060 971 005 Total net (2) de droits de vote : 1 046 091 029 (1) Total brut = après prise en compte du nombre d’actions bénéficiant du droit de vote double et du nombre d’actions auto-détenues au 30 avril 2024. (2) Total net = nombre ...
PARIS--(BUSINESS WIRE)-- Regulatory News: Vivendi (Paris:VIV): Le présent descriptif est établi en application des dispositions des articles 241-1 et 241-2 du Règlement général de l’Autorité des marchés financiers. 1. Date de l’Assemblée générale ayant autorisé le programme de rachat d’actions et de mise en œuvre. L’autorisation d’achat par la société de ses propres actions a été donnée par l’Assemblée générale mixte du 29 avril 2024 (vingt-et-unième résolution). Elle est mise en œuvre sur délégation du Directoire du 29 avril 2024. 2. Nombre de titres et part du capital détenu direct...
PARIS--(BUSINESS WIRE)-- Regulatory News: Vivendi (Paris:VIV) : L’Assemblée générale mixte annuelle des actionnaires de Vivendi s’est tenue aujourd’hui à L’Olympia à Paris sous la présidence de Yannick Bolloré avec un quorum de 70,15 % d’actionnaires présents ou représentés. L’Assemblée a approuvé l’ensemble des 25 résolutions qui lui étaient présentées à titre ordinaire et à titre extraordinaire (requérant une majorité des deux tiers). Les actionnaires ont renouvelé pour un terme de quatre ans les mandats de membre du Conseil de surveillance de Yannick Bolloré et Laurent Dassault. A l...
>Q1 in line but no new information on the spin-off plan - This morning, Vivendi and Bolloré published their Q1 revenues, to be followed by a conference call. However, Vivendi is to hold its AGM this morning at 10.00 a.m. Revenues were in line with our expectations. We have consolidated these two publications whilst the bulk of Bolloré's revenue (73%) now hinges on Vivendi since the deconsolidation of Bolloré logistics. Vivendi's Q1 revenue was in line with our forecas...
>T1 en ligne mais pas de nouvelle information sur le plan de scission - Vivendi et Bolloré ont publié leur CA T1 ce matin et ne tiendront pas de conférence téléphonique. Cependant, Vivendi tient son AG à 10h. Le CA est en ligne avec nos attentes. Nous consolidons ces deux publications alors que l’essentiel du CA (73%) de Bolloré repose dorénavant sur celui de Vivendi suite à la déconsolidation de Bolloré logistique. Le CA T1 de Vivendi est conforme à notre attente à 4...
This morning, Alfen announced it has agreed with Liander on the implementation of a new production method to address substation moisture issues, and thereby expects to restart the supply of Pacto substations in May based on this new method. Alfen expects the overall FY24 impact to be limited as it
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