reports
Lagardere S.A.: 1 director
A director at Lagardere S.A. bought 1,403 shares at 20.500EUR and the significance rating of the trade was 53/100. 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 company's directors over the last two years clearly...
- Charlotte Vaisse
- Jerôme Bodin
- Marc Lavaud
ODDO BHF Small & MIDCAP MORNING NEWS - 10/18/2024
The recovery in growth in the IT & engineering services sector is undermined by the still mixed macroeconomic climate and the setbacks in the automotive and aerospace sectors. The improvement in sector momentum will therefore be minimal in H2 2024 with a growing decorrelation between the US which should be robust and a stagnating Europe. This leads us to adopt a more cautious approach on companies in our sector (revision to our 2025 growth estimates for 12 companies) and to prefer Acc...
- Charlotte Vaisse
- Jerôme Bodin
- Marc Lavaud
ODDO BHF Small & MIDCAP MORNING NEWS - 18/10/2024
La reprise de la croissance du secteur IT & Engineering Services est mise à mal par un contexte macro toujours mitigé et par les déboires des secteurs Auto et Aéro. Ainsi, l’amélioration de la dynamique du secteur sera minimale au S2 2024 et probablement aussi au S1 2025, avec une décorrélation grandissante entre les US qui devraient être solides et une Europe stagnante. Ceci nous amène à adopter une approche plus prudente pour les sociétés de notre secteur (révision de croissance 202...
- Jerôme Bodin
Lagardere : Q3 revenues contained no surprise with momentum still soli...
>Neutral rating reiterated - Lagardère reported on Thursday, 17 October, Q3 2024 revenues of € 2,417m compared with our forecast of € 2,400m. This performance is therefore in line with our expectations, but slightly below those we had for Publishing (mainly due to a more difficult educational business in France). Momentum remains very sound at Lagardère Travel Retail. The group did not hold a conference call. Our full-year estimates are unchanged following this publi...
- Jerôme Bodin
Lagardère : Un CA T3 sans surprise avec une dynamique toujours très so...
>Opinion Neutre réitérée - Lagardère a publié jeudi son CA T3 2024 de 2 417 M€ alors que nous tablions sur 2 400 M€. La performance est donc en ligne mais un peu inférieure à notre attente pour Publishing (essentiellement liée à une activité plus difficile dans l’éduction en France). La dynamique reste très bonne chez Lagardère Travel Retail. Le groupe n’a pas tenu pas de conférence téléphonique. Nos attentes annuelles sont inchangées suite à cette publication. Nous ...
- Fehmi Ben Naamane
ODDO BHF Small & MIDCAP MORNING NEWS - 24/07/2024
The Platform Group (TPG) is a software company that is active across 20 industries through its digital platform solutions. Via its four segments (consumer goods, freight goods, industrial goods, service and retail goods), it serves both B2B and B2C customers. Given the growing revenues (2023-2026e CAGR +14.7%) and adjusted EBITDA margins (+270bp to 7.8% in 2026e vs 2023), as well as a solid financial profile (equity ratio >30%, average positive FCF of c.€ 8m for 2024e to 2026e) and un...
OSE OSE IMMUNOTHERAPEUTICS SA
VAC PIERRE & VACANCES SA
FLY SOCIETE FONCIERE LYONNAISE SA
POM PLASTIC OMNIUM SE
MMB LAGARDERE SCA
ITP INTERPARFUMS
CDA COMPAGNIE DES ALPES SA
NEX NEXANS SA
TIETO TIETOEVRY OYJ
MMT METROPOLE TELEVISION SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
COFA COFACE SA
LFDE LA FRANCAISE DE L'ENERGIE SA
NHH NH HOTEL GROUP SA
IBG IBERPAPEL GESTION S.A.
COPN COSMO PHARMACEUTICALS NV
FTG111 FLATEXDEGIRO AG
MVC METROVACESA SA
SAB BANCO DE SABADELL SA
NSI NSI N.V.
AEDAS AEDAS HOMES SA
EXN EXCLUSIVE NETWORKS SA
HGEA HGEARS AG
EXENS EXOSENS
- Fehmi Ben Naamane
ODDO BHF Small & MIDCAP MORNING NEWS - 07/24/2024
The Platform Group (TPG) is a software company that is active across 20 industries through its digital platform solutions. Via its four segments (consumer goods, freight goods, industrial goods, service and retail goods), it serves both B2B and B2C customers. Given the growing revenues (2023-2026e CAGR +14.7%) and adjusted EBITDA margins (+270bp to 7.8% in 2026e vs 2023), as well as a solid financial profile (equity ratio >30%, average positive FCF of c.€ 8m for 2024e to 2026e) and un...
OSE OSE IMMUNOTHERAPEUTICS SA
VAC PIERRE & VACANCES SA
FLY SOCIETE FONCIERE LYONNAISE SA
POM PLASTIC OMNIUM SE
MMB LAGARDERE SCA
ITP INTERPARFUMS
CDA COMPAGNIE DES ALPES SA
NEX NEXANS SA
TIETO TIETOEVRY OYJ
MMT METROPOLE TELEVISION SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
COFA COFACE SA
LFDE LA FRANCAISE DE L'ENERGIE SA
NHH NH HOTEL GROUP SA
IBG IBERPAPEL GESTION S.A.
COPN COSMO PHARMACEUTICALS NV
FTG111 FLATEXDEGIRO AG
MVC METROVACESA SA
SAB BANCO DE SABADELL SA
NSI NSI N.V.
AEDAS AEDAS HOMES SA
EXN EXCLUSIVE NETWORKS SA
HGEA HGEARS AG
EXENS EXOSENS
- Jerôme Bodin
Lagardere : A very good H1 2024 for both publishing and travel retail
>Neutral recommendation reiterated - Yesterday, Lagardère published interim results that came in well above our forecasts (EBIT of € 212m vs our forecast of € 170m). The main difference stemmed from Lagardère Publishing which posted a very solid performance in the US and the UK in Q2. Our forecasts have been revised up on the strength of this publication. We maintain our Neutral rating with a target price raised to € 25.5 (vs € 25). We think that the valuation is rea...
- Jerôme Bodin
Lagardère : Très bon S1 2024 tant pour Publishing que Travel Retail
>Opinion Neutre réitérée - Lagardère a publié hier ses résultats semestriels ressortis assez nettement supérieurs à nos attentes (EBIT de 212 M€ alors que nous tablions sur 170 M€). La principale différence provient de Lagardère Publishing qui enregistre une très solide performance aux USA/RU au T2. Nos attentes annuelles sont revues en hausse suite à cette publication. Nous réitérons notre opinion Neutre sur le titre et notre OC est porté à 25,5 € (vs 25 €). Nous est...
- Charlotte Vaisse
- Jean-Baptiste Rouphael
- Luis de Toledo Heras
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 04/25/2024
Having flirted with the 495-point mark on Friday, which could have triggered an extension of the correction, the market has rebounded well since then. Our technical analysis highlights a configuration in which we are only at the start of a powerful rally. Target of 622 points for Stoxx 600 index (+11%) by the end of the year confirmed. Prefer banks to insurance companies in the short term. - ...
ATO ATOS SE
CEN GROUPE CRIT SA
SDG SYNERGIE SA
MMB LAGARDERE SCA
ITP INTERPARFUMS
HCO HIGHCO SA
MRN MERSEN SA
LSS LECTRA SA
GOE GROUPE GORGE SA
FNAC FNAC DARTY SA
GLO GL EVENTS SA
EBRO EBRO FOODS SA
WIZZ WIZZ AIR HOLDINGS PLC
ERA ERAMET SA
VRNL VERNEUIL PARTICIPATIONS
AIXA AIXTRON SE
ALVIV VISIATIV SA
MELE MELEXIS NV
ALVDM VOYAGEURS DU MONDE SA
ARG ARGAN SA
ADOC ADOCIA SA
VLTSA VOLTALIA
SPIE SPIE SA
LFDE LA FRANCAISE DE L'ENERGIE SA
COPN COSMO PHARMACEUTICALS NV
SAE SHOP APOTHEKE EUROPE NV
XFAB X-FAB SILICON FOUNDRIES SE
SMCP SMCP SA
BFSA BEFESA SA
VOS VOSSLOH AG
AEDAS AEDAS HOMES SA
VRLA VERALLIA SAS
TCH TECHNICOLOR SA
SOL SOLTEC POWER HOLDINGS
BLV BELIEVE SA
FUR FUGRO NV
RWI RENEWI PLC
FLOW FLOW TRADERS LTD
- Charlotte Vaisse
- Jean-Baptiste Rouphael
- Luis de Toledo Heras
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 25/04/2024
Après avoir frôlé vendredi la barre des 495 points qui aurait pu déclencher la poursuite de la correction, le marché a ensuite bien rebondi. Notre analyse technique met en lumière une configuration où nous ne serions qu’au début d’un rallye puissant. Objectif 622 points (+11%) d’ici à la fin de l’année confirmé sur le Stoxx 600. Préférer les banques aux assurances à court terme. - ...
ATO ATOS SE
CEN GROUPE CRIT SA
SDG SYNERGIE SA
MMB LAGARDERE SCA
ITP INTERPARFUMS
HCO HIGHCO SA
MRN MERSEN SA
LSS LECTRA SA
GOE GROUPE GORGE SA
FNAC FNAC DARTY SA
GLO GL EVENTS SA
EBRO EBRO FOODS SA
WIZZ WIZZ AIR HOLDINGS PLC
ERA ERAMET SA
VRNL VERNEUIL PARTICIPATIONS
AIXA AIXTRON SE
ALVIV VISIATIV SA
MELE MELEXIS NV
ALVDM VOYAGEURS DU MONDE SA
ARG ARGAN SA
ADOC ADOCIA SA
VLTSA VOLTALIA
SPIE SPIE SA
LFDE LA FRANCAISE DE L'ENERGIE SA
COPN COSMO PHARMACEUTICALS NV
SAE SHOP APOTHEKE EUROPE NV
XFAB X-FAB SILICON FOUNDRIES SE
SMCP SMCP SA
BFSA BEFESA SA
VOS VOSSLOH AG
AEDAS AEDAS HOMES SA
VRLA VERALLIA SAS
TCH TECHNICOLOR SA
SOL SOLTEC POWER HOLDINGS
BLV BELIEVE SA
FUR FUGRO NV
RWI RENEWI PLC
FLOW FLOW TRADERS LTD
- Jerôme Bodin
Lagardere : T1 en ligne Q1 2024 in line with expectations, with growth...
>Neutral rating maintained - Lagardère’s Q1 2024 sales, reported this morning, were in line with our expectations. The group is not holding a conference call but its AGM is scheduled today for 10am. Momentum remains good in the travel retail segment and momentum should, we think, remain good in Q2 and Q3, thanks particularly to the sequence of sporting events (Euro 2024 and Olympics). We reiterate our Neutral rating and our target price of € 25.0 as we think the valua...
- Jerôme Bodin
Lagardère : T1 2024 en ligne avec les attentes avec une croissance tou...
>Opinion Neutre réitérée - Lagardère a publié ce matin un CA du T1 2024 en ligne avec notre attente. Le groupe ne tient pas de conférence téléphonique mais son AG aujourd’hui à 10 h. La dynamique reste bonne sur la partie Travel retail et le momentum devrait, selon nous, rester bon au T2 et T3, notamment grâce à la séquence d’événements sportifs (Euro de football et JO). Nous réitérons notre opinion Neutre sur le titre et notre OC de 25,0 € car nous estimons la valori...
- Jerôme Bodin
ODDO : Olympic Games and Euro 2024: a limited economic impact but an o...
In the run-up to the 2024 Summer Olympic Games and Euro 2024 football tournament, we have identified six stocks to favour: JCDecaux, Accor, Sodexo, adidas, Unibail-Rodamco-Westfield and easyJet. While these two major sporting events are not expected to have a significant impact on the host economies in the medium term, the microeconomic and sectoral impacts should be more marked. The tourism, transport, beverages and consumer goods sectors are expected to be the main winners. Som...
AC ACCOR SA
HEIA HEINEKEN NV
PUB PUBLICIS GROUPE SA
GET GETLINK SE
FRA FRAPORT AG
ADP AEROPORTS DE PARIS SA
BN DANONE SA
ADS ADIDAS AG
MC LVMH MOET HENNESSY LOUIS VUITTON SE
PUM PUMA SE
COV COVIVIO SA
RI PERNOD RICARD SA
RMS HERMES INTERNATIONAL SCA
ULVR UNILEVER PLC
RCO REMY COINTREAU SA
SW SODEXO SA
TFI TELEVISION FRANCAISE 1 SA
MMB LAGARDERE SCA
DEC JCDECAUX SA
NESN NESTLE S.A.
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
PSM PROSIEBENSAT.1 MEDIA SE
GLO GL EVENTS SA
WIZZ WIZZ AIR HOLDINGS PLC
EZJ EASYJET PLC
WPP WPP PLC
ICAD ICADE SA
RY4C RYANAIR HOLDINGS PLC
RTLL RTL GROUP S.A.
MMT METROPOLE TELEVISION SA
SAX STROEER SE & CO. KGAA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
ABI ANHEUSER-BUSCH INBEV SA/NV
DUFN DUFRY AG
CCEP COCA-COLA EUROPEAN PARTNERS PLC
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
FDJ LA FRANCAISE DES JEUX SA
CPR DAVIDE CAMPARI-MILANO N.V.
JDEP JDE PEET'S NV
FLE PEGASUS ENTREPRENEURIAL ACQUISITION CO EURO BV
AF AIR FRANCE - KLM
MFEA MEDIASET NV
- Jerôme Bodin
ODDO : Jeux Olympiques et Euro 2024 : un impact économique limité mais...
En amont des Jeux Olympiques d’été et de l’Euro de football 2024, nous identifions 6 valeurs à privilégier : JCDecaux, Accor, Sodexo, adidas, Unibail-Rodamco-Westfield et easyJet. Alors que ces deux évènements sportifs majeurs ne devraient pas avoir d’impact significatif sur les économies hôtes à moyen terme, les impacts microéconomiques et sectoriels devraient être plus marqués. Les secteurs du tourisme, des transports, des boissons et des biens de consommation devraient être l...
AC ACCOR SA
HEIA HEINEKEN NV
PUB PUBLICIS GROUPE SA
GET GETLINK SE
FRA FRAPORT AG
ADP AEROPORTS DE PARIS SA
BN DANONE SA
ADS ADIDAS AG
MC LVMH MOET HENNESSY LOUIS VUITTON SE
PUM PUMA SE
COV COVIVIO SA
RI PERNOD RICARD SA
RMS HERMES INTERNATIONAL SCA
ULVR UNILEVER PLC
RCO REMY COINTREAU SA
SW SODEXO SA
TFI TELEVISION FRANCAISE 1 SA
MMB LAGARDERE SCA
DEC JCDECAUX SA
NESN NESTLE S.A.
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
PSM PROSIEBENSAT.1 MEDIA SE
GLO GL EVENTS SA
WIZZ WIZZ AIR HOLDINGS PLC
EZJ EASYJET PLC
WPP WPP PLC
ICAD ICADE SA
RY4C RYANAIR HOLDINGS PLC
RTLL RTL GROUP S.A.
MMT METROPOLE TELEVISION SA
SAX STROEER SE & CO. KGAA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
ABI ANHEUSER-BUSCH INBEV SA/NV
DUFN DUFRY AG
CCEP COCA-COLA EUROPEAN PARTNERS PLC
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
FDJ LA FRANCAISE DES JEUX SA
CPR DAVIDE CAMPARI-MILANO N.V.
JDEP JDE PEET'S NV
FLE PEGASUS ENTREPRENEURIAL ACQUISITION CO EURO BV
AF AIR FRANCE - KLM
MFEA MEDIASET NV
- Benoit Valleaux
- Steven Gould
OSE OSE IMMUNOTHERAPEUTICS SA
MMB LAGARDERE SCA
LXS LANXESS AG
ITP INTERPARFUMS
ALTA ALTAREA SCA
TPE PVA TEPLA AG
G24 SCOUT24 AG
BCP BANCO COMERCIAL PORTUGUES S.A.
FAE FAES FARMA S.A.
GLB GLANBIA PLC
EDR EDREAMS ODIGEO SA
TWEKA TKH GROUP N.V. CERT
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
ADOC ADOCIA SA
COFA COFACE SA
FTG111 FLATEXDEGIRO AG
TKWY JUST EAT TAKEAWAY.COM N.V.
MVC METROVACESA SA
GEST GESTAMP AUTOMOCION S.A.
CAF CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES S.A.
GRE GRENERGY RENOVABLES
AG1 AUTO1 GROUP
ALLFG ALLFUNDS (UK) LTD
EFIC1 EUROPEAN FINTECH IPO CO 1 BV
DEME DEME GROUP NV
- Benoit Valleaux
- Steven Gould
OSE OSE IMMUNOTHERAPEUTICS SA
MMB LAGARDERE SCA
LXS LANXESS AG
ITP INTERPARFUMS
ALTA ALTAREA SCA
TPE PVA TEPLA AG
G24 SCOUT24 AG
BCP BANCO COMERCIAL PORTUGUES S.A.
FAE FAES FARMA S.A.
GLB GLANBIA PLC
EDR EDREAMS ODIGEO SA
TWEKA TKH GROUP N.V. CERT
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
ADOC ADOCIA SA
COFA COFACE SA
FTG111 FLATEXDEGIRO AG
TKWY JUST EAT TAKEAWAY.COM N.V.
MVC METROVACESA SA
GEST GESTAMP AUTOMOCION S.A.
CAF CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES S.A.
GRE GRENERGY RENOVABLES
AG1 AUTO1 GROUP
ALLFG ALLFUNDS (UK) LTD
EFIC1 EUROPEAN FINTECH IPO CO 1 BV
DEME DEME GROUP NV
- Jerôme Bodin
Lagardère : Résultats 2023 supérieurs aux attentes grâce au bon moment...
>Opinion Neutre réitérée - Lagardère a publié hier soir ses résultats annuels 2023 ressortis supérieurs aux attentes avec un EBIT récurrent de 520 M€ alors que nous tablions sur 484 M€. La surprise ressort au niveau de Lagardère Travel Retail dont l’EBIT ressort à 245 M€ vs 185 M€ attendus. La bonne dynamique pour le Travel Retail se poursuit, la croissance organique ressort à 15% au T4. Lagardère Publishing affiche une croissance organique de 6% au T4 vs notre attent...
- Jerôme Bodin
Lagardere : 2023 results ahead of expectations thanks to good momentum...
>Neutral rating maintained - Lagardère’s full-year 2023 results, reported yesterday evening, beat expectations, with recurrent EBIT of € 520m, vs our € 484m forecast. The surprise came from Lagardère Travel Retail where EBIT topped our expectations (€ 245m vs € 185m expected). Travel retail continues to see good momentum, with organic growth at 15% in Q4. Lagardère Publishing posted organic growth of 6% in Q4 vs our forecast of 1% while EBIT was in line with our expec...
- Carole Braudeau
Lagardere : Final clap
We stopped covering the company following its takeover by Vivendi and the repayment of almost all of Lagardère's bond debt. - > - Following the repayment option available to holders of Lagardère's (MMBFP, not rated) bonds as part of its acquisition by Vivendi (VIVFP, Baa2), the residual amounts on each issue are as follows:- € 39.5m for the 1.625% bonds maturing on 21 June 2024 (ISIN code: FR0013262912), the initial amount of which was € 300m;- € 48.8m for th...
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