Ahold Delhaize reported a nice set of 1Q24 results, with comparable sales increasing 1.6% y/y to € 21.7bn (kbcse: € 21.6bn, css: € 21.5bn), while the underlying operating result increased 0.7% at constant fx to € 861m (kbcse: € 825m, css: € 824). Following the good results, Ahold reiterates its outlook. Given that we expected 1Q24 to be the softest quarter of the year, we reiterate our Buy rating and € 32.0 TP.
Unifiedpost is a niche SaaS player in the e-invoicing and procurement channel space. Regulatory headwinds mean this market is ripe for growth, which should benefit Unifiedpost. Due to some unsuccessful past M&A, the company is in a challenging financial position today. However, it has recently embarked on a divestment path, aiming to streamline the business and improve its fundamentals. We like the new direction, however prefer to take a wait-and-see approach. - ...
Unifiedpost is a niche SaaS player in the e-invoicing and procurement channel space. Regulatory headwinds mean this market is ripe for growth, which should benefit Unifiedpost. Due to some unsuccessful past M&A, the company is in a challenging financial position today. However, it has recently embarked on a divestment path, aiming to streamline the business and improve its fundamentals. We like the new direction, however prefer to take a wait-and-see approach. - ...
AB InBev: Busy BEES. Ahold Delhaize: Small beat, comforting confirmation of 2024 guidance. AMG: 1Q24 better than expected, FY guidance intact, strategic projects on schedule. Bekaert: Soft start to the year with 7% sales miss, FY guidance maintained. Euronav: Transformation at full speed. Marel: Another lacklustre quarter. Montea: 2025 guidance raised, valuations moving into positive territory. SBM Offshore: In-line Q1 trading update. Sif Group: Preview - normal quarter e...
>Q1 2024 beating expectations, driven by Europe and the US - Ahold Delhaize reported net sales and underlying EBIT of € 21,728m and € 861m in Q1 2024 (ABNe: € 21,348m and € 802m, consensus: € 21,530m and € 809m). Comparable growth amounted to 0.8% in the US and 2.8% in Europe. We had forecast 0.6% and -0.2% and consensus was 0.0% and 2.2%, respectively. The group underlying operating profit margin amounted to 4.0% (flat year on year), compared with our forecast and co...
>Profits below expectations, Germany with a loss - Yesterday evening after stock market close, Metro released results for Q2 2023-24 which ended in March. Q2 sales increased 4% organically y-o-y to € 6.9bn (consensus: € 6.85bn, ODDO BHFe: € 6.83bn) and was thus 1% above the consensus. Regions: Germany and West grew 2%, Russia was up 13% and East rose 4%. The delivery business increased 18%. Adjusted EBITDA amounted to € 73m (consensus: € 90m, ODDO BHFe: € 93m), i.e. ...
• Sales and underlying income marginally exceeded our estimates. On FCF it had a strong start. Ahold Delhaize maintained its guidance• Based on the Q1 results, we expect to raise our estimates by some 2-3%• We maintain our Hold rating but on the back of the higher estimates we raise our TP from EUR 31 to EUR 32
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SPIE - Mixed Shareholder's General Meeting - Results of votes - 03 05 2024 SPIE SA MIXED SHAREHOLDERS’ GENERAL MEETING OF MAY 3, 2024 Results of the votes of the resolutions QUORUM: 80,23% It represents 133,910,443 shares and 166,907,194 voting rights for 2,090 shareholders (present or represented) Attachment
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Latest Kantar French market share data highlight a continued and surprising outperformance by Leclerc (+80bp) despite very tough comps vs. other independents and Lidl (slightly up) and vs. integrated groups (down 100bp). The wide gap between Leclerc and Intermarché, Systeme U and Lidl in a fast-dec
Casino Group: Disposal of 121 stores to ITM, Auchan, Carrefour Disposal of 121 stores to Groupement Les Mousquetaires, Auchan Retail France and Carrefour Paris, 30 April 2024 Following the agreements reached on 24 January 2024, with Auchan Retail France and Groupement Les Mousquetaires as well as on 8 February 2024, with Carrefour to sell a combined total of 287 stores, Casino Group announces today the sale of 121 stores1. The disposals of the remaining 166 stores will occur in two steps, on 31 May 2024 and 1 July 2024, respectively. This transaction is based on an enterprise value of t...
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