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Moody's Ratings announces completion of a periodic review of ratings o...
Moody's Ratings (Moody's) has completed a periodic review of the ratings of Lanxess AG and other ratings that are associated with this issuer. The review was conducted through a rating committee held on 15 November 2024 in which we reassessed the appropriateness of the ratings in the context of the...
- Emira Sagaama
- Juan Ros-Padilla
AMS AMS AG
CRI CHARGEURS SA
EVT EVOTEC SE
FLY SOCIETE FONCIERE LYONNAISE SA
LXS LANXESS AG
BEN BENETEAU SA
KCO KLOECKNER & CO SE
VLS VALNEVA SE
JCQ JACQUET METALS SA
ELG ELMOS SEMICONDUCTOR SE
BAMNB KONINKLIJKE BAM GROEP NV
WIZZ WIZZ AIR HOLDINGS PLC
GN GN STORE NORD A/S
GLB GLANBIA PLC
DEZ DEUTZ AG
AALB AALBERTS N.V.
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
FDR FLUIDRA S.A.
CPINV CARE PROPERTY INVEST SA
LOG COMPANIA DE DISTRIBUCION INTEGRAL LOGISTA HOLDINGS S.A.
TWEKA TKH GROUP N.V. CERT
SMHN SUESS MICROTEC AG
DIC DIC ASSET AG
ALFEN ALFEN NV
INS INSTONE REAL ESTATE GROUP AG
HAG HENSOLDT AG
COP COMPUGROUP MEDICAL SE & CO. KGAA
KTA KNAUS TABBERT
RWI RENEWI PLC
HGEA HGEARS AG
AF AIR FRANCE - KLM
- Emira Sagaama
- Juan Ros-Padilla
AMS AMS AG
CRI CHARGEURS SA
EVT EVOTEC SE
FLY SOCIETE FONCIERE LYONNAISE SA
LXS LANXESS AG
BEN BENETEAU SA
KCO KLOECKNER & CO SE
VLS VALNEVA SE
JCQ JACQUET METALS SA
ELG ELMOS SEMICONDUCTOR SE
BAMNB KONINKLIJKE BAM GROEP NV
WIZZ WIZZ AIR HOLDINGS PLC
GN GN STORE NORD A/S
GLB GLANBIA PLC
DEZ DEUTZ AG
AALB AALBERTS N.V.
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
FDR FLUIDRA S.A.
CPINV CARE PROPERTY INVEST SA
LOG COMPANIA DE DISTRIBUCION INTEGRAL LOGISTA HOLDINGS S.A.
TWEKA TKH GROUP N.V. CERT
SMHN SUESS MICROTEC AG
DIC DIC ASSET AG
ALFEN ALFEN NV
INS INSTONE REAL ESTATE GROUP AG
HAG HENSOLDT AG
COP COMPUGROUP MEDICAL SE & CO. KGAA
KTA KNAUS TABBERT
RWI RENEWI PLC
HGEA HGEARS AG
AF AIR FRANCE - KLM
- Michael B. Schäfer
Lanxess : Q3 solid with EBITDA pre of € 173m +2% vs. css; +10-20% FY 2...
>Q3 EBITDA pre of €173m 2% ahead of cons (€ 169m) with volume recovery across all BUs, except Ag (Saltigo) - Group sales were flat y-o-y at €1,598m (cons €1,658m) including 5% y-o-y higher volumes (Q2 2024: 0% y-o-y) where Lanxess flagged 9 out of 10 BUs with higher volumes, except Saltigo (Ag) weighing on -5% y-o-y reported in Consumer Protection volumes. Price erosion was -4% y-o-y (Q2 24: -6%) mainly on pass through of lower raw materials prices. EBITDA pre of €17...
- Julian Dobrovolschi
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 11/10/2024
Les mesures annoncées par Michel Barnier correspondent à une augmentation de l’impôt sur les sociétés pour les 2 prochaines années de 31% (+773 pb) pour les entreprises réalisant plus de 3 Md€ de CA en France et de 15,5% (+258 pb) pour celles avec un CA France entre 1 et 3 Md€. L’impact sera négatif pour les actions françaises, en particulier pour les plus grandes capitalisations avec un CA France > 3 Md€ et une base fiscale française importante. - ...
- Julian Dobrovolschi
- Luis de Toledo Heras
- Philippe Ourpatian
- Thomas Zlowodzki
ODDO BHF Sm all & MIDCAP MORNING NEWS - 10/11/2024
The measures announced by Michel Barnier correspond to a Corporate Tax increase on companies for the next two years of 31% (+773bp) for companies generating more than € 3bn in revenues in France and 15.5% (+258bp) for those generating revenues in France between € 1bn and € 3bn. The impact will be negative for French equities, in particular for the largest capitalisations with France revenues in excess of € 3bn and a significant French tax base. - ...
- Michael B. Schäfer
Lanxess : Showing the money: disposals on track, cash flow recovery/de...
>Q3 due 7 November – Summer weighs, as expected - History may not repeat in Q3 compared to a strong consensus beat reported at the Q2 2024 results. Summer takes its toll, weighing on the momentum shown in Q2. We project Q3 2024 adjusted EBITDA coming in 6% below Q2 2024 at € 170m (cons. € 169m) and 42% above last year. Sequential stabilisation at Specialty Additives and Consumer Protection may not fully compensate plant turnover-related headwinds in Advanced Intermedi...
Lanxess AG: 1 director
A director at Lanxess AG bought 3,500 shares at 29.097EUR and the significance rating of the trade was 60/100. 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...
- Jerôme Bodin
ODDO BHF Small & MIDCAP MORNING NEWS - 09/08/2024
In this note, we initiate coverage on The London Tunnels PLC (TLT), listed on Euronext Amsterdam since 26 June. TLT plans to develop visitor attractions in the Kingsway Exchange Tunnels, built by the UK government to protect its citizens during the London Blitz. The project has secured full planning permission from The City of London and Camden Council. Construction, estimated to cost £ 150m, is expected to begin soon. The attraction, which is designed to host maximum three million vi...
- Jerôme Bodin
ODDO BHF Small & MIDCAP MORNING NEWS - 08/09/2024
In this note, we initiate coverage on The London Tunnels PLC (TLT), listed on Euronext Amsterdam since 26 June. TLT plans to develop visitor attractions in the Kingsway Exchange Tunnels, built by the UK government to protect its citizens during the London Blitz. The project has secured full planning permission from The City of London and Camden Council. Construction, estimated to cost £ 150m, is expected to begin soon. The attraction, which is designed to host maximum three million vi...
- Michael B. Schäfer
Lanxess : Q2 EBITDA confirms strong prelims.; Q3 'close or up to Q2' a...
>Final Q2 EBITDA pre of € 181m in line with strong prelims. beat vs cons. of € 146m as savings gain traction - Group sales declined by 6% y-o-y to € 1,678m (cons € 1,720m) including flat y-o-y (+5% q-o-q) volumes (Q1 2024: -5.4% y-o-y) where Lanxess flagged 8 out of 10 BUs with higher volumes. Price erosion was -6% y-o-y (Q1 2024: -9.2%) and 'slightly down' q-o-q. Final EBITDA pre of € 181m was in line with strong preliminary results, beating the consensus of € 146m ...
- Charlotte Vaisse
- Philippe Ourpatian
ODDO : PFAS and furious!
PFAS refers to a large group of forever chemicals. Pressure from regulators, investors, consumers and ESG rating agencies is contributing to the materialisation of the reputational risk incurred by companies, first and foremost producers (the chemical companies Arkema, BASF, Solvay) and, to a lesser extent, some past users of regulated PFAS (SGO and SEB for PFOA). In contrast, we have identified eight stocks in our coverage for which PFAS decontamination constitutes an opportunit...
- Charlotte Vaisse
- Philippe Ourpatian
ODDO : PFAS and furious !
Les PFAS, désignent une famille nombreuse de polluants éternels. La pression des régulateurs, investisseurs, consommateurs et des agences de notations ESG participe à la matérialisation du risque réputationnel encouru par les sociétés, au premier rang desquels figurent les producteurs (les chimistes Arkema, BASF, Solvay) et dans une moindre mesure, certains utilisateurs passés de PFAS réglementés (SGO et SEB pour le PFOA). A l'inverse, nous identifions huit valeurs de notre unive...
- Gerardo Ibanez
- Steven Boumans
ODDO BHF Small & MIDCAP MORNING NEWS - 05/08/2024 Date Performance sin...
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. - ...
OUT1V OUTOKUMPU OYJ
ZIL2 ELRINGKLINGER AG
SBMO SBM OFFSHORE NV
EURN EURONAV NV
LEI LEIFHEIT AG
LXS LANXESS AG
KCO KLOECKNER & CO SE
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
MAREL MAREL HF.
NDA AURUBIS AG
MONT MONTEA SCA
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
TLGO TALGO SA
RUI RUBIS SCA
B4B METRO AG
S92 SMA SOLAR TECHNOLOGY AG
INS INSTONE REAL ESTATE GROUP AG
JEN JENOPTIK AG
CLA CLARANOVA SE
HAG HENSOLDT AG
COP COMPUGROUP MEDICAL SE & CO. KGAA
KTA KNAUS TABBERT
SFQ SAF-HOLLAND SE
AERO MONTANA AEROSPACE AG
YOU ABOUT YOU HLDG AG
SYAB SYNLAB AG
ALVGO VOGO SA
STM STABILUS SE
- Gerardo Ibanez
- Steven Boumans
ODDO BHF Small & MIDCAP MORNING NEWS - 08/05/2024 Date Performance dep...
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. - ...
OUT1V OUTOKUMPU OYJ
ZIL2 ELRINGKLINGER AG
SBMO SBM OFFSHORE NV
EURN EURONAV NV
LEI LEIFHEIT AG
LXS LANXESS AG
KCO KLOECKNER & CO SE
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
MAREL MAREL HF.
NDA AURUBIS AG
MONT MONTEA SCA
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
TLGO TALGO SA
RUI RUBIS SCA
B4B METRO AG
S92 SMA SOLAR TECHNOLOGY AG
INS INSTONE REAL ESTATE GROUP AG
JEN JENOPTIK AG
CLA CLARANOVA SE
HAG HENSOLDT AG
COP COMPUGROUP MEDICAL SE & CO. KGAA
KTA KNAUS TABBERT
SFQ SAF-HOLLAND SE
AERO MONTANA AEROSPACE AG
YOU ABOUT YOU HLDG AG
SYAB SYNLAB AG
ALVGO VOGO SA
STM STABILUS SE
- Michael B. Schäfer
Lanxess : Q1 EBITDA € 101m in-line; expects 10-20% EBITDA 24 growth, l...
>Q1 EBITDA pre of € 101m in line with consensus of € 98m - Group sales declined by 15% y-o-y to € 1,607m (css € 1,578m) including volume decline by 5.4% y-o-y (Q4 23: -12% y/y) but up 13% q-o-q. Price erosion was 9.2% y-o-y and just -1% q-o-q. EBITDA pre of € 101m was in line with consensus/ODDO BHF estimates of € 98m and down 47% y-o-y on a high comparison base. EBITDA pre regained slightly from € 97m in Q4 2023. Activity pick-up throughout Q1 pushed receivables, wei...
- Michael B. Schäfer
ODDO : Glass half full – Volume recovery started after almost 2 years ...
As Spring approaches, we see industry-wide destocking coming to an end, emerging recovery trends in China gaining momentum and European spot energy cost relief rolling in, all helping to restore plant utilisation and earnings. We add more cyclicality to our preferred names, upgrading BASF to Outperform (Neutral). Momentum being regained in specialties chemicals distribution triggers our upgrade of IMCD to Outperform (Neutral). ‘From record to record’ remains our mantra at FUCHS. ...
1COV COVESTRO AG
AI AIR LIQUIDE SA
WCH WACKER CHEMIE AG
LXS LANXESS AG
SDF K+S AG
BAS BASF SE
SOLB SOLVAY SA
BAYN BAYER AG
SY1 SYMRISE AG
KWS KWS SAAT SE & CO KGAA
EVK EVONIK INDUSTRIES AG
BNR BRENNTAG SE
INX IMCD N.V.
2HRA H&R GMBH & CO KGAA
AKZA AKZO NOBEL N.V.
FPE3 FUCHS PETROLUB SE
AZE AZELIS GROUP NV
LIN LINDE PUBLIC LIMITED COMPANY
DSFIR KONINKLIJKE DSM N.V.
SYENS SYENSQO
- Benoit Valleaux
- Steven Gould
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 03/14/2024
Banks tick all the boxes in the market’s current configuration: search for discounted sectors, cyclical momentum, sectors driven by long-term interest rates that remain high and shareholder returns through very high dividend yields. Technical analysis reveals a strong conviction since early March, and this should continue. We prefer banks in southern Europe, where the macro outlook is brighter. Alongside CaixaBank, which we are maintaining in our list of European Large Cap stocks, we ...
CSGN CREDIT SUISSE GROUP AG
UBSN UBS GROUP AG
BNP BNP PARIBAS SA CLASS A
DBK DEUTSCHE BANK AG
CBK COMMERZBANK AG
BFIT BASIC-FIT NV
PBB DEUTSCHE PFANDBRIEFBANK AG
IDL ID LOGISTICS GROUP
INF INFOTEL SA
GLE SOCIETE GENERALE S.A. CLASS A
KBC KBC GROUP N.V.
LXS LANXESS AG
ASY ASSYSTEM SA
KCO KLOECKNER & CO SE
JCQ JACQUET METALS SA
CDA COMPAGNIE DES ALPES SA
ISP INTESA SANPAOLO S.P.A.
BCP BANCO COMERCIAL PORTUGUES S.A.
SHA SCHAEFFLER AG
IDIP INSTITUT DE DEVELOPPEMENT INDUSTRIEL SCA
ERG ERG S.P.A.
BKT BANKINTER SA
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
UCG UNICREDIT S.P.A.
CABK CAIXABANK SA
INGA ING GROEP NV
SAN BANCO SANTANDER S.A.
UNI UNICAJA BANCO S.A.
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
DMP DERMAPHARM HOLDING SE
MOR MORPHOSYS AG
SAB BANCO DE SABADELL SA
2CRSI 2CRSI SA
TITC TITAN CEMENT INTERNATIONAL N.V.
SRAIL STADLER RAIL AG
SFQ SAF-HOLLAND SE
BLV BELIEVE SA
BAI BENEVOLENTAI
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