reports
- Luis Arredondo
ACS: 4Q’24 RESULTS (ANÁLISIS BANCO SABADELL)
4Q'24 vs. 4Q'23 Results Sales: € 11.931 Bn (+27.7% vs. +17.7% BS(e) and +18.2% consensus); EBITDA: € 777.0 M (+60.5% vs. +45.2% BS(e) and +47.5% consensus); EBIT: € 511.0 M (+44.4% vs. +27.9% BS(e) and +21.5% consensus); Net Profit: € 223.0 M (+9.3% vs. -10.9% BS(e) and -2.5% consensus); FY2024 vs. FY2023 Results Sales: € 41.633 Bn (+16.5% vs. +13.9% BS(e) and +14.0% consensus); EBITDA: € 2.456 Bn (+28.7% vs. +24.8% BS(e) and +25.4% consensus); EBIT: € 1.59 Bn (+19.9% vs. +15.5% BS(e) and +13.8%...
- Luis Arredondo
ACS: MENSAJES DE LA CONFERENCE CALL RDOS. 4T’24 (ANÁLISIS BANCO SABADE...
De la conference call de Rdos. 4T’24 destacamos:
- Ahmed Ben Salem
LHN HOLCIM AG
LRC LEGRAND
VIE VEOLIA ENVIRONNEMENT SA
SGO COMPAGNIE DE SAINT-GOBAIN SA
RR. ROLLS-ROYCE HOLDINGS PLC
ENGI ENGIE SA.
SK SEB SA
EBS ERSTE GROUP BANK AG
MUV2 MUNICH REINSURANCE COMPANY
TEP TELEPERFORMANCE SE
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
ENI ENI S.P.A.
GRF GRIFOLS S.A. CLASS A
ELE ENDESA S.A.
BAS BASF SE
UCB UCB S.A.
WPP WPP PLC
CRG CRH PLC
ANA ACCIONA SA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
IBE IBERDROLA SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
GRF.P GRIFOLS S.A. PREF CLASS B
BP. BP P.L.C.
DNP DINO POLSKA S.A.
LAND LAND SECURITIES GROUP PLC
RMV RIGHTMOVE PLC
NEXI NEXI S.P.A.
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
FER FERROVIAL SA
PUIG PUIG BRANDS
- Ahmed Ben Salem
LHN HOLCIM AG
LRC LEGRAND
VIE VEOLIA ENVIRONNEMENT SA
SGO COMPAGNIE DE SAINT-GOBAIN SA
RR. ROLLS-ROYCE HOLDINGS PLC
ENGI ENGIE SA.
SK SEB SA
EBS ERSTE GROUP BANK AG
MUV2 MUNICH REINSURANCE COMPANY
TEP TELEPERFORMANCE SE
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
ENI ENI S.P.A.
GRF GRIFOLS S.A. CLASS A
ELE ENDESA S.A.
BAS BASF SE
UCB UCB S.A.
WPP WPP PLC
CRG CRH PLC
ANA ACCIONA SA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
IBE IBERDROLA SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
GRF.P GRIFOLS S.A. PREF CLASS B
BP. BP P.L.C.
DNP DINO POLSKA S.A.
LAND LAND SECURITIES GROUP PLC
RMV RIGHTMOVE PLC
NEXI NEXI S.P.A.
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
FER FERROVIAL SA
PUIG PUIG BRANDS
- Luis Arredondo
ACS: RDOS. 4T’24 (ANÁLISIS BANCO SABADELL)
Rdos. 4T'24 vs 4T'23: Ventas: 11.931 M euros (+27,7% vs +17,7% BS(e) y +18,2% consenso); EBITDA: 777,0 M euros (+60,5% vs +45,2% BS(e) y +47,5% consenso); EBIT: 511,0 M euros (+44,4% vs +27,9% BS(e) y +21,5% consenso); BDI: 223,0 M euros (+9,3% vs -10,9% BS(e) y -2,5% consenso). Rdos. 2024 vs 2023: Ventas: 41.633 M euros (+16,5% vs +13,9% BS(e) y +14,0% consenso); EBITDA: 2.456 M euros (+28,7% vs +24,8% BS(e) y +25,4% consenso); EBIT: 1.590 M euros (+19,9% vs +15,5% BS(e) y +13,8% consenso); BDI...
- Research Department
IBERIAN DAILY 28 FEBRUARY + 4Q'24 RESULTS. PREVIEWS (ANÁLISIS BANCO SA...
NEWS SUMMARY: ACERINOX, ACCIONA, ACCIONA ENERGÍA, ACS, AMADEUS, COLONIAL, ENCE, FERROVIAL, GRIFOLS, MELIÁ HOTELES, MERLIN PROPERTIES, PUIG BRANDS, REPSOL, SACYR, VISCOFAN. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 4Q’24 results to be released over the coming days in Spain. Losses in Europe Despite many companies releasing their 4Q’24 results yesterday, the session was mar...
SYV SACYR S.A.
REP REPSOL SA
VID VIDRALA SA
ANA ACCIONA SA
AAD AMADEUS FIRE AG
VIS VISCOFAN S.A.
AMS AMADEUS IT GROUP SA CLASS A
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
ENC ENCE ENERGIA Y CELULOSA SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
FER FERROVIAL S.A.
MEL MELIA HOTELS INTERNATIONAL S.A.
COL SM INMOBILIARIA COLONIAL (COL SM)
GRF SM GRIFOLS (GRF SM)
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
PUIG PUIG BRANDS
- Ana Arjona-Martinez
- Research Department
INFORME DIARIO 28 FEBRERO + RDOS. ESPAÑA Y EUROPA 4T’24. PREVIEWS (ANÁ...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACERINOX, ACCIONA, ACCIONA ENERGÍA, ACS, AMADEUS, COLONIAL, ENCE, FERROVIAL, GRIFOLS, MELIÁ HOTELES, MERLIN PROPERTIES, PUIG BRANDS, REPSOL, SACYR, VIDRALA, VISCOFAN. EUROPA: ALLIANZ, BASF, ENI. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 4T’24 que se publicarán en España y Europa en los próximos días. P...
ACX ACERINOX SA
SYV SACYR S.A.
ENI ENI S.P.A.
BAS BASF SE
REP REPSOL SA
VID VIDRALA SA
ANA ACCIONA SA
VIS VISCOFAN S.A.
AMS AMADEUS IT GROUP SA CLASS A
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
ENC ENCE ENERGIA Y CELULOSA SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
FER FERROVIAL S.A.
MEL MELIA HOTELS INTERNATIONAL S.A.
COL SM INMOBILIARIA COLONIAL (COL SM)
GRF SM GRIFOLS (GRF SM)
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
PUIG PUIG BRANDS
- Research Department
INFORME DIARIO 20 FEBRERO + RDOS. ESPAÑA Y EUROPA 4T’24. IDEAS DESTACA...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACS, IBERDROLA, REPSOL, ROVI. EUROPA: AIRBUS, MERCEDES BENZ GROUP, SCHNEIDER ELECTRIC. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 4T’24 que se publicarán en España y Europa en los próximos días. Las bolsas se toman un respiro desde los máximos Las plazas europeas sufrieron pérdidas superiores al -1% d...
- Research Department
IBERIAN DAILY 20 FEBRUARY + 4Q’24 RESULTS. HIGHLIGHTS AND REST OF PREV...
NEWS SUMMARY: ACS, IBERDROLA, REPSOL, ROVI. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 4Q’24 results to be released over the coming days in Spain. Stock markets take a break from highs European stock markets slid >-1% after new tariff threats by D. Trump whereas the US made progress and managed to close the 2025 gap. In the STOXX 600, defensive sectors such as Utilities an...
- Bruno Cavalier
- Hela Zarrouk
- Steven Boumans
DKSH DKSH HOLDING AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
FAGR FAGRON SA
BRBY BURBERRY GROUP PLC
HOT HOCHTIEF AG
KER KERING SA
VOE VOESTALPINE AG
01913 PRADA S.P.A.
BYG BIG YELLOW GROUP PLC
TIETO TIETOEVRY OYJ
LPP LPP S.A.
CIE CIE AUTOMOTIVE S.A.
MONC MONCLER SPA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
SAFE SAFESTORE HOLDINGS PLC
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
WLN WORLDLINE SA
NEXI NEXI S.P.A.
RWI RENEWI PLC
SHUR SHURGARD SELF STORAGE LIMITED
BRE BREMBO S.P.A.
- Bruno Cavalier
- Hela Zarrouk
- Steven Boumans
DKSH DKSH HOLDING AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
FAGR FAGRON SA
BRBY BURBERRY GROUP PLC
HOT HOCHTIEF AG
KER KERING SA
VOE VOESTALPINE AG
01913 PRADA S.P.A.
BYG BIG YELLOW GROUP PLC
TIETO TIETOEVRY OYJ
LPP LPP S.A.
CIE CIE AUTOMOTIVE S.A.
MONC MONCLER SPA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
SAFE SAFESTORE HOLDINGS PLC
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
WLN WORLDLINE SA
NEXI NEXI S.P.A.
RWI RENEWI PLC
SHUR SHURGARD SELF STORAGE LIMITED
BRE BREMBO S.P.A.
- Bruno Cavalier
- Jean Danjou
AAL ANGLO AMERICAN PLC
MC LVMH MOET HENNESSY LOUIS VUITTON SE
CBK COMMERZBANK AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
HOT HOCHTIEF AG
KER KERING SA
01913 PRADA S.P.A.
LPP LPP S.A.
MONC MONCLER SPA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
WLN WORLDLINE SA
AD KONINKLIJKE AHOLD DELHAIZE N.V.
ADYEN ADYEN NV
MRNA MODERNA INC.
NEXI NEXI S.P.A.
FDJ LA FRANCAISE DES JEUX SA
- Bruno Cavalier
- Jean Danjou
- Thomas Zlowodzki
AAL ANGLO AMERICAN PLC
MC LVMH MOET HENNESSY LOUIS VUITTON SE
CBK COMMERZBANK AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
HOT HOCHTIEF AG
KER KERING SA
01913 PRADA S.P.A.
LPP LPP S.A.
MONC MONCLER SPA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
WLN WORLDLINE SA
AD KONINKLIJKE AHOLD DELHAIZE N.V.
ADYEN ADYEN NV
MRNA MODERNA INC.
NEXI NEXI S.P.A.
FDJ LA FRANCAISE DES JEUX SA
- Ana Arjona-Martinez
- Research Department
IBERIAN DAILY 17 JANUARY (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACS, TALGO. IBEX unable to break 12,000 point barrier Except for the IBEX, European stock markets ended with gains, boosted by the good news out of the technology and luxury sectors. In the STOXX 600, the best-performing sectors were Consumer Goods and Technology, whereas Autos and Travel & Leisure ended with the biggest drops. On the macro side, in the US, December’s core retail sales grew slightly less than expected, but those used to calculate the GDP rose more than expected, r...
- Research Department
INFORME DIARIO 17 ENERO (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACS, TALGO. Al Ibex se le atragantan los 12.000 puntos A excepción del Ibex, las bolsas europeas terminaron con subidas impulsadas por las buenas noticias provenientes del sector tecnológico y del lujo. Precisamente, en el STOXX 600 los mejores sectores fueron B. Consumo y Tecnología mientras que Autos y Viajes&Ocio terminaron con las mayores cesiones. Por el lado macro, en EE.UU. las ventas al por menor core de diciembre crecieron algo menos de lo ...
- Research Department
IBERIAN DAILY 05 DECEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACS, CAIXABANK, CHANGES IBEX, FERROVIAL, TALGO. IBEX on the verge of 12,000 points European stock markets’ bullish streak in December continued with gains of around +1.0% and despite the political crises in France and South Korea. In the STOXX 600, the best-performing sectors were Retail (leading the pack for the third straight day) and Technology, with Pharma and Energy posting the biggest losses. On the macro side, the OECD presented its new forecasts, where we highlight the gro...
- Research Department
INFORME DIARIO 05 DICIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACS, CAIXABANK, CAMBIOS IBEX 35, FERROVIAL, TALGO. EUROPA: ALLIANZ. El Ibex al borde de los 12.000 puntos Continuó la racha alcista que llevan los índices europeos en diciembre con subidas cercanas al +1,0% y a pesar de las crisis políticas desatadas en Francia y Corea del Sur. En el STOXX 600, los mejores sectores fueron Retail (que repite al frente por tercer día consecutivo) y Tecnología frente a Farma y Energía que fueron los que más cayeron. Po...
- Martin Marandon-Carlhian
- Stephane Houri
- Steven Boumans
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/13/2024
We maintain our Outperform rating on CaixaBank, one of our Top Picks in the sector, with a higher target of € 7.2 vs € 6.7 and ahead of the CMD on 19 November. We are lifting our net income estimates by 7% for 2025-2026, to 7% above the consensus. The strategic update is set to highlight the wisdom of the business model diversification (long-term savings) to address the current transition phase on rates. Despite a solid market performance, the profile does not look to be fully reflec...
LHN HOLCIM AG
LI KLEPIERRE SA
COV COVIVIO SA
HO THALES SA
GFC GECINA SA
NXI NEXITY SA CLASS A
FLY SOCIETE FONCIERE LYONNAISE SA
HNR1 HANNOVER RUECK SE
GYC GRAND CITY PROPERTIES SA
MERY MERCIALYS SA
WHA WERELDHAVE N.V.
INTO INTERVEST OFFICES & WAREHOUSES SA
BLND BRITISH LAND COMPANY PLC
KOF KAUFMAN & BROAD SA
ALTA ALTAREA SCA
VNA VONOVIA SE
XIOR XIOR STUDENT HOUSING N.V.
RWE RWE AG
ICAD ICADE SA
COFB COFINIMMO SA
VASTN VASTNED RETAIL NV
TEG TAG IMMOBILIEN AG
PSPN PSP SWISS PROPERTY AG
SPSN SWISS PRIME SITE AG
PAT PATRIZIA AG
MONT MONTEA SCA
AED AEDIFICA SA
CARM CARMILA SAS
EVK EVONIK INDUSTRIES AG
LEG LEG IMMOBILIEN AG
CPINV CARE PROPERTY INVEST SA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
YPSN YPSOMED HOLDING AG
ARG ARGAN SA
VGP VGP NV
COL INMOBILIARIA COLONIAL SOCIMI SA
DIC DIC ASSET AG
LRE LAR ESPANA REAL ESTATE SOCIMI SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
DKG DEUTSCHE KONSUM REIT-AG
HOME NEINOR HOMES SA
AT1 AROUNDTOWN SA
LAND LAND SECURITIES GROUP PLC
MVC METROVACESA SA
NSI NSI N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
INS INSTONE REAL ESTATE GROUP AG
AEDAS AEDAS HOMES SA
ENR SIEMENS ENERGY AG
WDP WAREHOUSES DE PAUW SCA
ECMPA EUROCOMMERCIAL PROPERTIES NV
CTPNV CTP NV
SHUR SHURGARD SELF STORAGE LIMITED
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