reports
- Martin Marandon-Carlhian
- Stephane Houri
ATO ATOS SE
BFIT BASIC-FIT NV
LPE LAURENT-PERRIER SA
ACX ACERINOX SA
DEQ DEUTSCHE EUROSHOP AG
SHA SCHAEFFLER AG
FAE FAES FARMA S.A.
AIXA AIXTRON SE
WAF SILTRONIC AG
GCO GRUPO CATALANA OCCIDENTE S.A.
CSM CORBION NV
COFA COFACE SA
CASH PROSEGUR CASH SA
ALFEN ALFEN NV
FUR FUGRO NV
- Martin Marandon-Carlhian
- Stephane Houri
ATO ATOS SE
BFIT BASIC-FIT NV
LPE LAURENT-PERRIER SA
ACX ACERINOX SA
DEQ DEUTSCHE EUROSHOP AG
SHA SCHAEFFLER AG
FAE FAES FARMA S.A.
AIXA AIXTRON SE
WAF SILTRONIC AG
GCO GRUPO CATALANA OCCIDENTE S.A.
CSM CORBION NV
COFA COFACE SA
CASH PROSEGUR CASH SA
ALFEN ALFEN NV
FUR FUGRO NV
- Manuel Martin
- CEFA
- CREA
- Nour El Houda Hammami
Deutsche Euroshop AG : Final FY 2023 figures confirmed preliminary key...
>Dividend proposal of € 0.80 for FY 2023 below expectations - On Friday (26 April) evening after market close, Deutsche Euroshop (DES) reported its final FY 2023 figures which confirmed its preliminary key figures released on 19 March (revenues, NOI, FFO I and EPRA NTA, amongst others) and which were mainly driven by the acquisition of minority interests in some of its shopping centre limited partnerships beginning of 2023 and some one-off items. Management reiterated...
Moody's Ratings affirms Rheinmetall's Baa2 long-term issuer rating; ou...
Moody's Ratings (Moody's) has today affirmed Rheinmetall AG's (Rheinmetall) Baa2 long-term issuer rating. Concurrently, the rating agency has affirmed the company's P-2 short term issuer rating and its P-2 Commercial Paper rating. The outlook remains stable. RATINGS RATIONALE Today's ratin...
- Bruno Cavalier
- Maissa Keskes
- Stephane Houri
HEIA HEINEKEN NV
VIE VEOLIA ENVIRONNEMENT SA
EDEN EDENRED SA
SU SCHNEIDER ELECTRIC SE
BNP BNP PARIBAS SA CLASS A
ABB ABB LTD.
SW SODEXO SA
RHM RHEINMETALL AG
KBC KBC GROUP N.V.
NOKIA NOKIA OYJ
EL ESSILORLUXOTTICA SA
AMUN AMUNDI SA
OR L'OREAL SA
SCHP SCHINDLER HOLDING AG PREF
EZJ EASYJET PLC
VOD VODAFONE GROUP PLC
WDP WAREHOUSES DE PAUW SCA
SHEL SHELL PLC
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
AGN AEGON N.V.
- Bruno Cavalier
- Maissa Keskes
- Stephane Houri
HEIA HEINEKEN NV
VIE VEOLIA ENVIRONNEMENT SA
EDEN EDENRED SA
SU SCHNEIDER ELECTRIC SE
BNP BNP PARIBAS SA CLASS A
ABB ABB LTD.
SW SODEXO SA
RHM RHEINMETALL AG
KBC KBC GROUP N.V.
NOKIA NOKIA OYJ
EL ESSILORLUXOTTICA SA
AMUN AMUNDI SA
OR L'OREAL SA
SCHP SCHINDLER HOLDING AG PREF
EZJ EASYJET PLC
VOD VODAFONE GROUP PLC
WDP WAREHOUSES DE PAUW SCA
SHEL SHELL PLC
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
AGN AEGON N.V.
- Olfa Taamallah
- Yan Derocles
Rheinmetall AG : Q1 2024 in the end set to be more in line with tradit...
>Q1 in the end more in line with traditional seasonality - In a group pre-class call, the company indicated the seasonal pattern would in the end be fairly consistent with that of previous years, with Q4 potentially accounting for around 35% of FY 24 sales. The deferral of around € 0.4bn of sales from FY 23 to FY 24 will be only partially delivered in Q1 (c € 0.1bn est.), with the remainder of the truck deliveries expected more later in the year. We forecast sales of ...
- Olfa Taamallah
- Yan Derocles
Rheinmetall AG : Vers un T1 2024 finalement conforme à la traditionnel...
>Un T1 finalement plus conforme à la traditionnelle saisonnalité - Lors d’un pre-close call groupé, la société a indiqué que la saisonnalité de l’exercice FY 24 serait finalement assez conforme à celle des autres années avec un T4 pouvant représenter de l’ordre de 35% du CA FY 24. Le décalage d’environ 0.4 Md€ de ventes de FY 23 à FY 24 ne sera que partiellement livré au T1 (c0.1 Md€e), le reliquat des livraisons de camions étant plutôt attendu plus tard dans l’exerci...
Rheinmetall AG: 1 director
A director at Rheinmetall AG bought 600 shares at 520.805EUR and the significance rating of the trade was 81/100. 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 ...
- Bruno Cavalier
- Louis Boujard
- CFA
- Philippe Ourpatian
- Bruno Cavalier
- Louis Boujard
- CFA
- Philippe Ourpatian
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 21/03/2024
After very strong results during 2021 and 2022 on the back of industry tailwinds due to supply chain disruptions, IMCD maintained a relatively steady operating performance over 2023 despite a clear normalisation of end-market demand within Industries. Notwithstanding these industry pressures, IMCD was able to offset the negative organic growth over 2023 (-6.4%) with its acquisitory power, stabilising growth for the year (excl. FX impact). We believe that IMCD is ready to resume its up...
- Olfa Taamallah
- Yan Derocles
Rheinmetall AG : Opinion Neutre vs Surperformance. Excellente dynamiqu...
>Neutre vs Surperformance – OC relevé à 520 € - Suite au fort relèvement de nos estimations (20.9% en 2024 y compris rattrapage des 420 M€ de ventes manquantes en 2023, 23% en 2025 et 33.9% en 2026), nous relevons notre OC à 520 € (basé sur une moyenne DCF et SOP 2026). Toutefois, après une progression de 63% YtD contre +27% pour notre indice Défense Europe, le potentiel du titre nous semble aujourd’hui plus limité. Le consensus a désormais intégré une forte accéléra...
- Olfa Taamallah
- Yan Derocles
Rheinmetall AG : Neutral vs Outperform – Excellent commercial momentum...
>Neutral vs Outperform – target price raised to € 520 - Following the sharp upward revision to our estimates (20.9% in 2024 including the catch-up of € 420m in missing sales in 2023, 23% in 2025 and 33.9% in 2026), we are raising our target price to € 520 (based on an average of the DCF and SOTP for 2026). However, after growth of 63% YTD vs +27% for our Europe Defence index, the stock’s upside now looks more limited to us. The consensus has now factored in a sharp ...
- Fehmi Ben Naamane
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 03/20/2024
We are upgrading the energy sector to Overweight vs Neutral (excluding Oil Services, already on Overweight). The recent rebound in oil prices is set to continue, driven by short, medium and long-term factors: value, cyclical, little debt and good shareholder returns. Technical analysis reveals a strong trend that is only just beginning. GALP enters our Large Caps list; CellNex exits it. - ...
WTB WHITBREAD PLC
EURN EURONAV NV
CEN GROUPE CRIT SA
BEN BENETEAU SA
VIRP VIRBAC SA
VLS VALNEVA SE
PIG HAULOTTE GROUP SA
ISP INTESA SANPAOLO S.P.A.
DEQ DEUTSCHE EUROSHOP AG
SBO SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG
ALVIV VISIATIV SA
UCG UNICREDIT S.P.A.
SHOT SCANDIC HOTELS GROUP
MEL MELIA HOTELS INTERNATIONAL S.A.
NHH NH HOTEL GROUP SA
COPN COSMO PHARMACEUTICALS NV
PWG PRODWAYS GROUP SA
IHG INTERCONTINENTAL HOTELS GROUP PLC
CABKA CABKA N.V.
- Fehmi Ben Naamane
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 20/03/2024
Nous upgradons le secteur énergie à Surpondérer vs Neutre (hors Oil Services déjà à Surpondérer). Le rebond récent des prix du pétrole va se poursuivre, soutenu par des facteurs à court, moyen et long terme. Le secteur dispose en outre de 4 atouts dans la configuration de marché actuelle : value, cyclique, peu endetté et bon retour à l’actionnaire. L’analyse technique révèle une tendance forte qui ne fait que commencer. GALP fait son entrée dans notre liste Large Caps ; CellNex en so...
WTB WHITBREAD PLC
EURN EURONAV NV
CEN GROUPE CRIT SA
BEN BENETEAU SA
VIRP VIRBAC SA
VLS VALNEVA SE
PIG HAULOTTE GROUP SA
ISP INTESA SANPAOLO S.P.A.
DEQ DEUTSCHE EUROSHOP AG
SBO SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG
ALVIV VISIATIV SA
UCG UNICREDIT S.P.A.
SHOT SCANDIC HOTELS GROUP
MEL MELIA HOTELS INTERNATIONAL S.A.
NHH NH HOTEL GROUP SA
COPN COSMO PHARMACEUTICALS NV
PWG PRODWAYS GROUP SA
IHG INTERCONTINENTAL HOTELS GROUP PLC
CABKA CABKA N.V.
- Manuel Martin
- CEFA
- CREA
- Nour El Houda Hammami
Deutsche Euroshop AG : Preliminary FY 2023 key figures overall above o...
>FY 2023 FFO I p/s exceeding the company´s guidance - Deutsche Euroshop (DES) reported yesterday after market closing preliminary FY 2023 results which were overall above our estimates. Revenues of € 273.3m (+28.4% y-o-y), were slightly above our estimate of € 271.8m. Furthermore, net operating income of € 214.9 m (+28.3 % y-o-y) marginally exceeded our forecast of € 210.6m. FFO I has increased significantly by 31.7 % y-o-y to € 171.3m, translating into € 2.28p/s (jus...
EQS-News: Deutsche EuroShop: Operating business picks up in financial ...
EQS-News: Deutsche EuroShop AG / Key word(s): Preliminary Results/Annual Results Deutsche EuroShop: Operating business picks up in financial year 2023 19.03.2024 / 18:00 CET/CEST The issuer is solely responsible for the content of this announcement. Deutsche EuroShop: Operating business picks up in financial year 2023 Increasing customer footfall and rising tenant sales Share acquisitions prop up growth in earnings Positive non-recurring effects from the operating business Valuation losses in the real estate portfolio due to higher interest rates Reintroduction of f...
EQS-News: Deutsche EuroShop: Wiederaufschwung des operativen Geschäfts...
EQS-News: Deutsche EuroShop AG / Schlagwort(e): Vorläufiges Ergebnis/Jahresergebnis Deutsche EuroShop: Wiederaufschwung des operativen Geschäfts im Geschäftsjahr 2023 19.03.2024 / 18:00 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Deutsche EuroShop: Wiederaufschwung des operativen Geschäfts im Geschäftsjahr 2023 Steigende Kundenzahlen und Mieterumsätze Anteilserwerbe fördern das Ergebniswachstum Positive Einmaleffekte aus dem operativen Geschäft Abwertungen des Immobilienportfolios durch gestiegene Zinsen Wiedereinführung ein...
- Baptiste Salaville
- Jerôme Bodin
- Steven Boumans
ODDO BHF Small & MIDCAP MORNING NEWS - 18/03/2024
We are downgrading our recommendation on Vidrala to Underperform from Neutral and set our target price at € 96 (+4% vs previous € 92, DCF: 8.4x implied EV/EBITDA 2024e vs historical average of 9.2x and 6.1x of peer group). While the group will be able to outgrow the industry thanks to the consolidation of Vidroporto in Brazil (16% of the group’s EBITDA) and despite the divestment in Italy (8% of 2023 EBITDA), we believe its organic earnings profile will slightly deteriorate considerin...
COV COVIVIO SA
BFIT BASIC-FIT NV
GFC GECINA SA
NXI NEXITY SA CLASS A
FLY SOCIETE FONCIERE LYONNAISE SA
GYC GRAND CITY PROPERTIES SA
MERY MERCIALYS SA
DEC JCDECAUX SA
WHA WERELDHAVE N.V.
INTO INTERVEST OFFICES & WAREHOUSES SA
KOF KAUFMAN & BROAD SA
ALTA ALTAREA SCA
VNA VONOVIA SE
XIOR XIOR STUDENT HOUSING N.V.
DEQ DEUTSCHE EUROSHOP AG
ICAD ICADE SA
COFB COFINIMMO SA
VASTN VASTNED RETAIL NV
TEG TAG IMMOBILIEN AG
PSPN PSP SWISS PROPERTY AG
SPSN SWISS PRIME SITE AG
PAT PATRIZIA AG
MONT MONTEA SCA
AED AEDIFICA SA
CARM CARMILA SAS
LEG LEG IMMOBILIEN AG
CPINV CARE PROPERTY INVEST SA
WBD WEBUILD S.P.A.
ARG ARGAN SA
VGP VGP NV
COL INMOBILIARIA COLONIAL SOCIMI SA
DIC DIC ASSET AG
LRE LAR ESPANA REAL ESTATE SOCIMI SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
DKG DEUTSCHE KONSUM REIT-AG
HOME NEINOR HOMES SA
AT1 AROUNDTOWN SA
MDM MAISONS DU MONDE SA
MVC METROVACESA SA
NSI NSI N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
INS INSTONE REAL ESTATE GROUP AG
AEDAS AEDAS HOMES SA
ALHGR HOFFMANN GREEN CEMENT TECHNOLOGIES SA
WDP WAREHOUSES DE PAUW SCA
ECMPA EUROCOMMERCIAL PROPERTIES NV
CTPNV CTP NV
SHUR SHURGARD SELF STORAGE LIMITED
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