reports
- Ahmed Ben Salem
- Ahmed Ben Salem
- Emna Ben Bdira
- Maxime Kogge
Salzgitter : Higher results still hypothetical and higher capex weighi...
>Higher 2024 results still hypothetical - Salzgitter had a decent 2023 year with EBITDA coming at € 677m in the middle of the € 650-700m guidance, although this had been revised down vs the initial € 750-850m due to the fraud suffered by Aurubis and the weaker European steel market. Q4 was especially difficult with EBITDA down 12% q-o-q to € 101m, its lowest since Covid due to the margin squeeze from lower prices and higher raw materials as well as the cost of restar...
- Emna Ben Bdira
- Maxime Kogge
Salzgitter : L’amélioration des résultats reste encore hypothétique et...
>Perspectives d’amélioration 2024 encore hypothétiques - Salzgitter a réalisé une année 2023 en demi-teinte avec un EBITDA de 677 M€ dans le milieu de la guidance de 650-700 M€ mais celle-ci avait été révisée en baisse vs 750-850 M€ initialement prévus en raison de la fraude subie par Aurubis et de la dégradation du marché européen de l’acier. Le T4 a été particulièrement difficile avec un EBITDA en baisse de 12% q-o-q à 101 M€, au plus bas depuis le COVID à cause du...
- Anthony Dick
- Joan Sehim
- Michael Foundoukidis
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 03/15/2024
After a terrible start to the year with the fall in gas prices and interest rate pressures, utilities have staged a slight recovery since the second half of February thanks to an uptick in electricity prices and slight decline in long rates. The most recent US macro figures support our scenario of higher long rates in the coming months, stymieing a sector recovery. A recovery will have to wait for a hypothetical collapse in consumer spending in Europe and the first policy rate cuts by...
- Emna Ben Bdira
- Maxime Kogge
Salzgitter : Decent Q4 results and solid 2024 guidance despite macro u...
>Decent Q4 results, strong cash generation - Salzgitter has reported its Q4 results with EBITDA down 12% q-o-q to € 101m, 9% below the Visible Alpha consensus of € 111m but 8% above our estimates (€ 94m). The miss on consensus came from Steel Production with EBITDA at € 27m, -63% q-o-q on weak demand and higher raw materials. Trading was also weak at just € 1m. The good surprise came from Steel Processing despite lower prices and volumes in most segments. The Technol...
- Anthony Dick
- Joan Sehim
- Michael Foundoukidis
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 15/03/2024
Après un début d’année horribilis avec la chute des prix du gaz et les tensions sur les taux, les Utilities ont marqué un léger rebond depuis la deuxième moitié de février grâce à un rebond des prix de l’électricité et un léger reflux des taux longs. Les derniers chiffres macro US soutiennent notre scénario de taux longs plus hauts dans les mois qui viennent, empêchant le rebond du secteur. Celui-ci devra attendre un hypothétique effondrement de la consommation en Europe et les premiè...
- Emna Ben Bdira
- Maxime Kogge
Salzgitter : Decent Q4 results and solid 2024 guidance despite macro u...
>Decent Q4 results, strong cash generation - Salzgitter has reported its Q4 results with EBITDA down 12% q-o-q to € 101m, 9% below the Visible Alpha consensus of € 111m but 8% above our estimates (€ 94m). The miss on consensus came from Steel Production with EBITDA at € 27m, -63% q-o-q on weak demand and higher raw materials. Trading was also weak at just € 1m. The good surprise came from Steel Processing despite lower prices and volumes in most segments. The Technol...
EQS-News: Salzgitter AG: Diversification paying off – satisfactory res...
EQS-News: Salzgitter Aktiengesellschaft / Key word(s): Annual Results/Forecast Salzgitter AG: Diversification paying off – satisfactory result despite increasingly difficult market environment 15.03.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Significant reduction in net financial debt Dividend proposal for the Annual General Meeting of Shareholders of € 0.45 per share Guidance for the financial year 2024: sales of between € 10.5 and € 11.0 billion, before , , (EBITDA) of between € 700 million and € 750 million, ea...
EQS-News: Salzgitter AG: Diversifikation zahlt sich aus – zufriedenste...
EQS-News: Salzgitter Aktiengesellschaft / Schlagwort(e): Jahresergebnis/Prognose Salzgitter AG: Diversifikation zahlt sich aus – zufriedenstellendes Ergebnis trotz zunehmend widrigem Marktumfeld 15.03.2024 / 07:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Deutlich reduzierte Nettofinanzschulden Dividendenvorschlag an die Hauptversammlung 0,45 € je Aktie Prognose Geschäftsjahr 2024: Umsatz 10,5 Mrd. € bis 11 Mrd. €, vor , , (EBITDA) zwischen 700 Mio. € und 750 Mio. €, Vorsteuergewinn (EBT) zwischen 250 Mio. € und 300 Mio...
EQS-News: Salzgitter AG sells Mannesmann Stainless Tubes Group to Cogn...
EQS-News: Salzgitter Aktiengesellschaft / Key word(s): Disposal Salzgitter AG sells Mannesmann Stainless Tubes Group to Cogne Acciai Speciali 20.02.2024 / 08:30 CET/CEST The issuer is solely responsible for the content of this announcement. Further step taken in active portfolio management "Salzgitter AG 2030" group strategy being driven forward Salzgitter. Continuing its active portfolio management, the Salzgitter Group has now sold the Mannesmann Stainless Tubes Group (MST) to the Italian company Cogne Acciai Speciali in accordance with the best-owner principle for a p...
EQS-News: Salzgitter AG verkauft Mannesmann Stainless Tubes-Gruppe an ...
EQS-News: Salzgitter Aktiengesellschaft / Schlagwort(e): Verkauf Salzgitter AG verkauft Mannesmann Stainless Tubes-Gruppe an Cogne Acciai Speciali 20.02.2024 / 08:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Weiterer Schritt im aktiven Portfoliomanagement Konzernstrategie „Salzgitter AG 2030“ wird vorangetrieben Salzgitter. Der Salzgitter-Konzern hat jetzt sein aktives Portfoliomanagement fortgeführt und die Mannesmann Stainless Tubes-Gruppe (MST) dem Best-Owner Prinzip folgend an die italienische Cogne Acciai Speciali für eine...
- Klaus Ringel
- Michael Foundoukidis
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 19/12/2023 Date Performance dep...
Si le discours de Christine Lagarde a déçu par sa timidité, celui de Jérôme Powell a, lui, clairement contenté les marchés, qui ont salué (trop ?) fortement le rapprochement des perspectives de baisses de taux de la Fed. Nous mettons à jour notre allocation sectorielle tactique pour prendre en compte ces nouvelles perspectives sur son score de Valeur Relative vs Taux et sur la dynamique du consensus sur les BPA. Nous dégradons le secteur Autos & Parts de MW à UW, les Télécommunication...
- Klaus Ringel
- Michael Foundoukidis
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 12/19/2023 Date Performance sin...
Whereas Christine Lagarde's speech was disappointingly timorous, Jerome Powell's clearly went down well with the markets, which hailed (over enthusiastically?) the prospects for the Fed’s rate cuts materialising sooner than initially expected. We are updating our tactical sector allocation to factor in this new outlook, regarding its Relative Value vs Rates score and the momentum of the consensus on EPS. We are revising down autos & parts from Marketweight (MW) to Underweight (UW), te...
- Michael B. Schäfer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 12/19/2023
Whereas Christine Lagarde's speech was disappointingly timorous, Jerome Powell's clearly went down well with the markets, which hailed (over enthusiastically?) the prospects for the Fed’s rate cuts materialising sooner than initially expected. We are updating our tactical sector allocation to factor in this new outlook, regarding its Relative Value vs Rates score and the momentum of the consensus on EPS. We are revising down autos & parts from Marketweight (MW) to Underweight (UW), te...
- Michael B. Schäfer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 19/12/2023
Si le discours de Christine Lagarde a déçu par sa timidité, celui de Jérôme Powell a, lui, clairement contenté les marchés, qui ont salué (trop ?) fortement le rapprochement des perspectives de baisses de taux de la Fed. Nous mettons à jour notre allocation sectorielle tactique pour prendre en compte ces nouvelles perspectives sur son score de Valeur Relative vs Taux et sur la dynamique du consensus sur les BPA. Nous dégradons le secteur Autos & Parts de MW à UW, les Télécommunication...
- Maxime Kogge
ODDO : Impact of Nippon/US Steel deal on US steel market and European ...
>High price justified by US Steel’s position in flat auto and electrical steels - US Steel yesterday announced its acquisition by Nippon Steel, bringing to an end the sale process set in train in August following a first offer submitted by Cleveland Cliffs. The group will thus become the world’s third-largest steelmaker combining US Steel’s 14 Mt with Nippon’s 44 Mt and get closer to the no. 2 player ArcelorMittal with 69 Mt. The price agreed exceeds all expectations ...
- Maxime Kogge
ODDO : Quelles implications du deal Nippon/US Steel sur le marché US d...
>Un prix élevé justifié par la position de US Steel dans l’acier plat auto et électrique - US Steel a annoncé hier son acquisition par Nippon Steel, mettant fin au processus de vente engagé en août à la suite de l’offre remise par Cleveland Cliffs. Le groupe devient ainsi le 3ème producteur mondial d’acier en combinant les 14 Mt de US Steel aux 44 Mt existants et se rapproche du n°2 ArcelorMittal avec 69 Mt. Le prix conclu dépasse toutes les attentes en valorisant US ...
EQS-News: Supervisory Board of Salzgitter AG extends Gunnar Groebler's...
EQS-News: Salzgitter Aktiengesellschaft / Key word(s): Personnel Supervisory Board of Salzgitter AG extends Gunnar Groebler's contract 07.12.2023 / 11:05 CET/CEST The issuer is solely responsible for the content of this announcement. Salzgitter. At its meeting on December 7, 2023, the Supervisory Board of Salzgitter AG extended the contract of CEO Gunnar Groebler until 2029. Gunnar Groebler has been active as a member of the Executive Board of Salzgitter AG since May 2021 and Chairman of the Executive Board since July 2021. As Heinz-Gerhard Wente, Chairman of the Supervi...
EQS-News: Aufsichtsrat der Salzgitter AG verlängert Vertrag von Gunnar...
EQS-News: Salzgitter Aktiengesellschaft / Schlagwort(e): Personalie Aufsichtsrat der Salzgitter AG verlängert Vertrag von Gunnar Groebler 07.12.2023 / 11:05 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Salzgitter. Der Aufsichtsrat der Salzgitter AG hat in seiner Sitzung am 07.12.2023 den Vertrag des Vorstandsvorsitzenden Gunnar Groebler bis 2029 verlängert. Gunnar Groebler ist seit Mai 2021 Vorstandsmitglied der Salzgitter AG und seit Juli 2021 Vorsitzender des Vorstands. Heinz-Gerhard Wente, Vorsitzender des Aufsichtsrats, erklär...
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