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Zumtobel Ag: 1 director
A director at Zumtobel Ag bought 4,000 shares at 6.500EUR 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 sho...
Zumtobel confirmed at BUY, TP EUR 10 - Guidance upgrade warrants confi...
Zumtobel reported strong preliminary Q2 22/23 results and continued its series of convincing quarterly results. Ignited by the strong H1, the management raised the full-year guidance. We have raised our FY 22/23e EBIT to EUR 61 mn but deliberately did not stretch to the upper end of the guidance, which entails a further 20% upside (and suggests EPS of approx. EUR 1-1.10) We subscribe to concerns that the interest rate hike cycle will drag on European non-residential construction activity but we ...
Zumtobel prelim. Q2 22/23 - Strong prelim. Q2 results fuel FY guidance...
Revenue growth of 13% to EUR 314 mn spurred by pricing and FX effects Acceleration of Lighting sales growth as main driver Margin expansion to 10.1% in Q2 looks convincing, EBIT of ca EUR 51 mn already pocketed in H1 FY 22/23 top line growth outlook raised to 4-8% from 3-6% EBIT margin target up to 4-6% from 4-5% The strong results and the guidance upgrade are supportive for our positive stance on the investment case
Zumtobel Q1 22/23 - In-line Q1 results and guidance reiteration
Revenue growth of 8% marginally ahead of RBIe, earnings fully in line FY 22/23 top line growth of 3-6% and EBIT margin of 4-5% maintained, RBIe EBIT of EUR 56 mn at mid-point of guidance We have a mostly neutral stance on the results release
Raiffeisen Research Institutional Equity Daily 06.09.2022
AT: Zumtobel - Q1 22/23 results fully in line with RBIe, FY guidance of sales up 3-6% and EBIT margin of 4-5% confirmed (neutral) CZ: CTP - Plan to double German portfolio by 2026 (neutral) Oil&Gas: OPEC+ meeting - The oil cartel to cut production by 100 kbbl/day in October PL: Banks - WIRD Index likely to replace WIBOR as a reference rate for mortgages already in 2023 (neutral) PL: LPP - CFO mentions positive sales trends in September (positive) PL: PKN - Facing a further normaliza...
Zumtobel Q4 21/22 - Guidance beat, implied 22/23 target EBIT range in ...
Q4 results ahead of expectations despite one-off burden, still guidance exceeded Dividend increase to EUR 0.35 (5% yield) from EUR 0.20 FY 22/23 top line growth of 3-6% and EBIT margin of 4-5% imply EBIT of EUR 47-61 mn, in line with RBIe of EUR 56 mn We appreciate the solid outlook which given current circumstances might not be overly aggressive at this early stage
Raiffeisen Research Institutional Equity Daily 01.07.2022
AT: Andritz - Andritz acquried Bonetti group (neutral) AT: Andritz - Andritz to supply fiberline and lime kiln equipment to Sun Paper, China (neutral) AT: UBM - UBM sells project and construction management subsidiary Alba (neutral) AT: Wienerberger - Strong Q2 results trigger FY EBITDA guidance upgrade (positive) AT: Zumtobel - Better than expected Q4 results despite higher warranty costs, FY 21/22 guidance beat, implied FY 22/23 EBIT range in line with RBIe (positive) CZ: CEZ - CEZ...
Raiffeisen Research Institutional Equity Daily 10.06.2022
AT: IMMOFINANZ - No FY 21 dividend, lack of support from CPI Property Group (negative) AT: Zumtobel - Marcus Frantz appointed as Chief Digital Transformation Officer (neutral) PL: Banks - Lower chamber of PL Parliament approves moratoria framework (neutral) PL: Dino/Eurocash - Discounters and local supermarkets experience double digit growth (positive/neutral) RO: One United Properties - The maximum subscription price for the first phase will be RON 1.42 per share (neutral)
Raiffeisen Research Institutional Equity Daily 31.05.2022
MSCI May Index Review - Standard indices (STD) changes: DEL: Raiffeisen Bank Intl.; SmallCap indices (SC) changes: ADD: STRABAG SE, DEL: Zumtobel Oil&Gas: Oil price - EU agreed to ban most of Russia oil imports AT: STRABAG - Double digit output growth and backlog at new high in Q1, FY 22 guidance reiterated (positive) CZ: Moneta Money Bank - PPF and Moneta terminate the acquisition of AirBank group / cancelation of the capital increase and mandatory tender offer by PPF HU: Makro - Ra...
Raiffeisen Research Institutional Equity Daily 13.05.2022
MSCI May Index Review - Standard indices (STD) changes: DEL: Raiffeisen Bank Intl.; SmallCap indices (SC) changes: ADD: STRABAG SE, DEL: Zumtobel AT: AGRANA - Final FY 21/22 results match preliminary figures, FY 22/23e guidance confirmed (neutral) AT: AT&S - AT&S proposed dividend of EUR 0.90/share for 2021/22e (neutral) AT: Oesterreichische Post - Final Q1 22 numbers in line with prliminary figures, outlook reiterated (neutral) AT: Palfinger - Takeover of remaining 35% stake in French...
PEO BANK POLSKA KASA OPIEKI SA
RBI RAIFFEISEN BANK INTERNATIONAL AG
PKO PKO BANK POLSKI S.A.
BHW BANK HANDLOWY W WARSZAWIE S.A.
ARHOF AMREST HOLDING
SPL SANTANDER BANK POLSKA SA
POG PETROPAVLOVSK PLC
MIL BANK MILLENNIUM SA
PAL PALFINGER AG
ZAG ZUMTOBEL GROUP AG
POST OSTERREICHISCHE POST AG
STR STRABAG SE
GAZP GAZPROM PJSC
ALR ALIOR BANK SA
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
COTE CONPET SA
M MED LIFE
SFG SPHERA FRANCHISE GROUP SA
AGR AGRANA BETEILIGUNGS-AG
NLBR NOVA LJUBLJANSKA BANKA DD LJUBLJANA
Zumtobel confirmed at BUY, TP EUR 10 - Model update post Q3: Trimming ...
Zumtobel presented convincing Q3 results and the management displayed confidence to reach the upper end of the FY 21/22 top line and profitability ranges, potentially even exceed them We have raised our estimates for this year but foremost reflecting the highly inflationary cost environment and some sequentially more adverse FX movements we have now modelled a profit stagnation for FY 22/23e While we adopt a more conservative stance on next year we believe that the beyond peak inflationary press...
Zumtobel Q3 21/22 - Major beat in Q3 and more confident outlook
Blowout beat in Q3 aided by shift of R&D grants from Q2 into Q3 Clean margin still well above expectations Cash flow drain from much higher inventories FY 21/22 revenues and EBIT margin seen at the upper end of the respective ranges but could well be exceeded
Raiffeisen Research Institutional Equity Daily 08.03.2022
AT: Andritz - Results above expectations and a positive outlook that contradicts our recent cautious stance (positive) AT: Frequentis - Frequentis announces dividend of EUR 0.20 per share, as expected (neutral) AT: IMMOFINANZ - CPI increases stake to 54.9%, calls for EGM for supervisory board elections (neutral) AT: Vienna Insurance Group - Headline results in line with pre-released figures, dividend ahead of expectations (neutral) AT: Zumtobel - Blowout beat in Q3 aided by shift of gr...
EBS ERSTE GROUP BANK AG
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EVN EVN AG
MMK MAYR-MELNHOF KARTON AG
OMV OMV AG
PGN POLSKIE GORNICTWO NAFTOWE I GAZOWNICTWO SA
PKO PKO BANK POLSKI S.A.
KOMB KOMERCNI BANKA A.S.
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ARHOF AMREST HOLDING
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
VER VERBUND AG CLASS A
POS PORR AG
LNZ LENZING AG
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PAL PALFINGER AG
WIE WIENERBERGER AG
SEM SEMPERIT HOLDING AG
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
LPP LPP S.A.
CCC CCC SA
WXF WARIMPEX FINANZ UND BETEILIGUNG
OTP OTP BANK NYRT
VIG VIENNA INSURANCE GROUP AG WIENER VERSICHERUNG GRUPPE
PYT POLYTEC HOLDING
ZAG ZUMTOBEL GROUP AG
ANDR ANDRITZ AG
STR STRABAG SE
FLU FLUGHAFEN WIEN AG
FACC FACC AG
PODR-R-A PODRAVKA D.D.
ATGR-R-A ATLANTIC GRUPA
MOL MOL HUNGARIAN OIL & GAS PLC CLASS A
BG BAWAG GROUP AG
COTE CONPET SA
AMAG AMAG AUSTRIA METALL AG
AGR AGRANA BETEILIGUNGS-AG
NLBR NOVA LJUBLJANSKA BANKA DD LJUBLJANA
ERNT-R-A ERICSSON NIKOLA TESLA D.D.
WINE PURCARI WINERIES PCL
KOEI KONCAR GROUP
With a more favourable environment, ZUMTOBEL improves to Slightly Posi...
ZUMTOBEL (AT), a company active in the Electrical Components & Equipment industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 2 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date January 14, 2022, the closing price was EUR 8.26 and ...
Zumtobel confirmed at BUY, TP EUR 11 - Supply bottlenecks hold back st...
Bottlenecks for certain high-end components that have been flagged previously to have a stronger impact in Q2-3, prevent the realisation of higher revenues for now As regards the FY 21/22 outlook management acknowledged that top-line growth should be at the upper end of the 4-7% corridor, while the EBIT margin is expected to rather reach the lower end of the 4-5% range The group should increasingly benefit from price hikes. Management remarks suggest that order intake momentum remains very satis...
Zumtobel Q2 21/22 - Top line held back by bottlenecks in Q2
5% top line growth in Q2 below forecasts and implies sequentially weaker momentum FY 21/22 outlook of a 4-7% revenue increase and a 4-5% EBIT margin reiterated However, management envisages top line rather at upper end and profitability rather at lower end of the respective corridors As outlined on previous occasions, semiconductor shortage to remain a headwind with negative implications on product mix Unchanged favourable demand and order intake trends
Raiffeisen Research Institutional Equity Daily 07.12.2021
AT: IMMOFINANZ, S IMMO - S IMMO to launch partial takeover offer for IMMOFINANZ (positive, negative) AT: Zumtobel - Q2 revenue momentum held back by supply bottlenecks but good margin containment, FY 21/22 outlook confirmed (neutral) RO: OMV Petrom - The 2030 strategy will enable high CF generation to ensure transition to a low carbon economy and attractive shareholder returns (positive)
Raiffeisen Research Institutional Equity Daily 13.10.2021
EU: Utilities - EU Commission to present measures against increasing energy prices today (neutral) AT: AT&S - Apple rumoured to cut iPhone 13 production target by 10 mn on supply chain shortage (negative) AT: BAWAG Group - Pre earnings Q3 call with the management (neutral) AT: Flughafen Wien - September passenger numbers at 53% of 2019 levels (positive) AT: Frequentis - Frequentis and Airbus selected for phase III of the European Broadway interoperable broadband PPDR communication syst...
PEO BANK POLSKA KASA OPIEKI SA
CEZ CEZ AS
EVN EVN AG
PGN POLSKIE GORNICTWO NAFTOWE I GAZOWNICTWO SA
PKO PKO BANK POLSKI S.A.
VER VERBUND AG CLASS A
SPL SANTANDER BANK POLSKA SA
MIL BANK MILLENNIUM SA
WIE WIENERBERGER AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
GNB GETIN NOBLE BANK SA
ZAG ZUMTOBEL GROUP AG
ALR ALIOR BANK SA
FLU FLUGHAFEN WIEN AG
BG BAWAG GROUP AG
FQT FREQUENTIS AG WIENER
Zumtobel Company News - Ambitious growth outlook presented at the CMD
Zumtobel presented ambitious sales growth and margin targets, both much better than what has been achieved in the last decade Top line CAGR of 4-5% and EBIT margin of 6-8% targeted by FY 24/25 - RBIe stands at 3% and 6%, respectively Capital allocation: M&A angle, capex containment and dividend policy Overall, it became apparent that Zumtobel emerges into a growth-oriented phase
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