reports
- Niclas Gehin
Yara (Buy, TP: NOK425.00) - Capex cuts set to boost dividends
We estimate Q2 EBITDA of NOK526m (results are due at 08:00 CET on 19 July). We believe Nutrien no longer pursuing its US clean ammonia project, citing higher costs and lower demand, should lower the likelihood that Yara goes through with its projects. We view reintroducing a generous dividend policy as a potential catalyst (2024e DPS of NOK25, or 8% yield), as its former capex projections are reduced. At a 2025e P/E of 9x on normalised earnings, we find the stock attractively valued and reiterat...
Program for the publication of Yara International ASA second quarter r...
Program for the publication of Yara International ASA second quarter results 2024 Yara International ASA second quarter 2024 results will be published on Friday, 19 July 2024 at 08:00 CEST. You can follow the second-quarter results presentation online at 12:00 CEST. The presentation will be held in English. The report, presentation and webcast will be available at the above mentioned times at: There will also be a conference call at 13:00 CEST the same day with an opportunity to ask questions to Yara’s management. Please use the link to register for this session: Registered conference c...
- ABGSC Chemicals Research
- Bengt Jonassen
- Martin Melbye
Yara International: Successful placement of new bonds
Yara International: Successful placement of new bonds Reference is made to the stock exchange notice on 7 June 2024 regarding a contemplated green bond issuance. Yara International ASA has today completed a successful placement of senior unsecured green bonds with a total amount of NOK 2,750 million. The transaction was split into three tranches: 5Y NOK 1,150 million floating rate note with a coupon of 3m Nibor + 0.97 % p.a.5Y NOK 900 million fixed rate note with a coupon of 4.82% p.a.10Y NOK 700 million fixed rate note with a coupon of 5.04% p.a. An amount equal to the net proceed...
Yara International: Fixed income investor meetings and contemplated bo...
Yara International: Fixed income investor meetings and contemplated bond issuance Yara International ASA (“Yara”), rated BBB (stable) by S&P and Baa2 (stable) by Moody's, has mandated Danske Bank as Sole Bookrunner to arrange a series of virtual fixed income investor meetings on Monday, 10 June 2024. Subject to market conditions, one or more NOK-denominated senior unsecured green bond issues with expected tenor(s) of minimum 5 years may follow. An amount equal to the net proceeds from the contemplated green bond issuance will be used in accordance with Yara’s Green Financing Framework...
Yara International ASA ex-dividend NOK 5.00 today
Yara International ASA ex-dividend NOK 5.00 today Shares in Yara International ASA will be traded ex-dividend NOK 5.00 as of today, 29 May 2024. ContactMaria GabrielsenHead of Investor RelationsM: E: About Yara Yara's mission is to responsibly feed the world and protect the planet. We pursue a strategy of sustainable value growth through reducing emissions from crop nutrition production and developing low-emission energy solutions. Yara’s ambition is focused on growing a nature-positive food future that creates value for our customers, shareholders and society at large and...
Yara Annual General Meeting approves dividends and elects Board member...
Yara Annual General Meeting approves dividends and elects Board members in line with Nomination Committee proposal The Annual General Meeting of Yara International ASA was held on 28 May 2024. The Annual General Meeting approved a dividend of NOK 5.00 per share and elected Board and Nomination Committee members in line with the Nomination Committee’s proposal. All agenda items were approved in line with the proposals in the Annual General Meeting Notice except item 13 (proposal from shareholder) which did not receive the required votes for approval. The dividend of NOK 5.00 per share ...
- ABGSC Chemicals Research
- Bengt Jonassen
- Martin Melbye
- ABGSC Healthcare Research
- Morten Larsen
- Rune Majlund Dahl
Demant (Buy, TP: DKK400.00) - Better quarters should lie ahead
Q1 organic growth was a soft c3% YOY on tough comparables, reflecting growth of c4% for Hearing Aids and c7% for Diagnostics, but a weak c0% for Hearing Care due to slowing momentum in France. We expect 2024 to be back-end loaded and driven by Oticon Intent. The 2024 guidance was unchanged for key lines, including organic growth of 4–8%, EBIT of DKK4.6bn–5.0bn, and share buybacks of DKK2.0bn+. We reiterate our BUY and DKK400 target price.
- Benoit Valleaux
- Bruno Cavalier
- Steven Gould
INFINEON INFINEON TECHNOLOGIES AG
LR LEGRAND SA
AMS AMS AG
RCO REMY COINTREAU SA
DEMANT DEMANT A/S
GLE SOCIETE GENERALE S.A. CLASS A
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ISP INTESA SANPAOLO S.P.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
SIX2 SIXT SE
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
IHG INTERCONTINENTAL HOTELS GROUP PLC
DTG DAIMLER TRUCK
ARM ARM HOLDINGS PLC
- Benoit Valleaux
- Bruno Cavalier
- Steven Gould
INFINEON INFINEON TECHNOLOGIES AG
LR LEGRAND SA
AMS AMS AG
RCO REMY COINTREAU SA
DEMANT DEMANT A/S
GLE SOCIETE GENERALE S.A. CLASS A
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ISP INTESA SANPAOLO S.P.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
SIX2 SIXT SE
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
IHG INTERCONTINENTAL HOTELS GROUP PLC
DTG DAIMLER TRUCK
ARM ARM HOLDINGS PLC
- Oliver Metzger
Demant A/S : Slower start to 2024, weaker dynamics in France, UK and C...
>Q1 review – slower organic growth leads to miss on sales forecast - Demant’s Q1 revenues of DKK 5,423m (-1.5% y-o-y,) were driven by organic growth of 3% (vs ODDO BHF 6.2%/consensus 4.7%) and were -3%-2% vs ODDO BHF/consensus. The Communication business is excluded from the operating development as the asset is booked as discontinued operation. No bottom line was reported on a quarterly basis.Hearing aids impacted by flat growth in Europe - Hearing a...
- ABGSC Healthcare Research
- Morten Larsen
Notice of Yara Annual General Meeting 2024
Notice of Yara Annual General Meeting 2024 Yara International ASA will hold its Annual General Meeting on Tuesday, 28 May 2024 at 10:00 CEST. Notice of the Annual General Meeting together with all relevant documents is available at The Annual General Meeting will be held as a digital meeting with electronic voting via Lumi platform. It is also possible to cast votes or give proxy authorizations in advance. No pre-registration is required for shareholders who wish to participate, apart from nominee-registered shareholders. For detailed information about participation and voting, p...
Innkalling til Yara generalforsamling 2024
Innkalling til Yara generalforsamling 2024 Yara International ASA vil avholde sin ordinære generalforsamling tirsdag, 28. mai 2024 kl. 10.00. Innkalling til generalforsamling og alle relevante dokumenter er publisert på Generalforsamlingen avholdes som et digitalt møte hvor aksjonærer kan stemme elektronisk via Lumi-plattformen. Det er også mulig å forhåndsstemme eller å gi fullmakt. Det gjelder ingen påmeldingsfrist for aksjonærer for å delta på generalforsamlingen, med unntak av aksjonærer som eier forvalterregistrerte aksjer. For mer informasjon om deltakelse og stemmegivning se Inn...
Yara International ASA: 2 directors
Two Directors at Yara International ASA bought/maiden bought 2,337 shares at between 315.000NOK and 316.600NOK. The significance rating of the trade was 54/100. 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 compa...
Yara International ASA - Mandatory notifications of trade
Yara International ASA - Mandatory notifications of trade Yara Board member Jannicke Hilland has purchased a total of 1,587 Yara shares on Friday, 26 April 2024 at an average price of NOK 315 per share. Following this purchase, Jannicke Hilland owns a total of 1,587 shares in Yara international ASA. Yara Board member Therese Log Bergjord has purchased a total of 750 Yara shares on Friday, 26 April 2024 at an average price of NOK 316.6 per share. Following this purchase, Therese Log Bergjord owns a total of 750 shares in Yara International ASA. Details of the transactions can be fo...
- Rune Majlund Dahl
Demant (Buy, TP: DKK400.00) - 2024 likely to be back-end loaded
We forecast Q1 organic revenue growth of 4.7% YOY (in line with consensus), driven by Hearing Care (we forecast 4.9%) and Diagnostics (we forecast 8.4%), while Hearing Aids faces a tough YOY comparable (we forecast 3.6%). We expect 2024 to be back-end loaded and driven by Oticon Intent. We expect maintained 2024 guidance of 4–8% organic growth, c1% M&A growth, c-1% FX, and EBIT of DKK4.6bn–5.0bn. We reiterate our BUY and DKK400 target price.
- ABGSC Chemicals Research
- Bengt Jonassen
- Martin Melbye
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