reports
- Andres Bolumburu
CAF: 9M’24 RESULTS (ANÁLISIS BANCO SABADELL)
3Q'24 vs. 3Q'23 Results Sales: € 838.0 M (-2.3% vs. +9.7% BS(e) and +11.3% consensus); EBIT: € 35.0 M (-18.6% vs. +16.7% BS(e) and +16.3% consensus); Net Profit: € 9.0 M (-52.6% vs. +47.4% BS(e) and +36.8% consensus); 9M'24 vs. 9M'23 Results Sales: € 2.918 Bn (+6.7% vs. +10.5% BS(e) and +11.0% consensus); EBIT: € 137.0 M (+7.0% vs. +18.9% BS(e) and +18.8% consensus); Net Profit: € 61.0 M (+15.1% vs. +50.9% BS(e) and +47.2% consensus);
- Research Department
IBERIAN DAILY 15 NOVEMBER + 3Q’24 RESULTS. PREVIEWS (ANÁLISIS BANCO SA...
NEWS SUMMARY: ACCIONA, ACCIONA ENERGÍA, CAF, CAIXABANK, COLONIAL, MERLIN. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 3Q’24 results to be released over the coming days in Spain. ECB’s target nearly met The Euro STOXX 50 had its best day since late September, while the ECB’s meeting minutes suggested the 2% inflation target will be met earlier than expected, thus cementing t...
- Research Department
INFORME DIARIO 13 NOVIEMBRE + RDOS. ESPAÑA Y EUROPA 3T'24. IDEAS DESTA...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACS, AENA, CAF, GREENING, NEINOR HOMES, SACYR, SECTOR INMOBILIARIO - SOCIMI. EUROPA: ALLIANZ, PROSUS. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 3T’24 que se publicarán en España y Europa en los próximos días. Alemania celebrará elecciones en febrero El contagio desde Asia junto con el incremento en...
- Konrad Zomer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 30/10/2024
Le scrutin présidentiel US reste incertain, mais le momentum semble être du côté de Donald Trump depuis début octobre : le candidat est désormais en tête dans 6 des 7 swing states, vient de dépasser Kamala Harris dans le vote national et est donné gagnant à 63% chez les parieurs. Nous rappelons les valeurs européennes à privilégier ou à éviter en cas de victoire de Donald Trump, et avons également listé les valeurs européennes ayant une base de production aux US, par nature moins expo...
SGO COMPAGNIE DE SAINT-GOBAIN SA
SU SCHNEIDER ELECTRIC SE
ADS ADIDAS AG
FORTUM FORTUM OYJ
WKL WOLTERS KLUWER NV
REE RED ELECTRICA CORP. SA
ELE ENDESA S.A.
BAS BASF SE
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
ASM ASM INTERNATIONAL N.V.
KGX KION GROUP AG
MONC MONCLER SPA
AENA AENA SME SA
SKF B SKF AB CLASS B
SAN BANCO SANTANDER S.A.
BP. BP P.L.C.
BIM BIOMERIEUX SA
CPR DAVIDE CAMPARI-MILANO N.V.
GSK GSK PLC
FER FERROVIAL SA
PUIG PUIG BRANDS
- Konrad Zomer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/30/2024
The outcome of the US presidential election hangs in the balance, but the momentum seems to be with Donald Trump since the beginning of October: the candidate is now in the lead in six of the seven swing states, has just overtaken Kamala Harris in the national vote while 63% of punters are tipping him to win. We recap in the present note on the European stocks to play or avoid in the event of Donald Trump's victory and have also listed European stocks with a production base in the US,...
SGO COMPAGNIE DE SAINT-GOBAIN SA
SU SCHNEIDER ELECTRIC SE
ADS ADIDAS AG
FORTUM FORTUM OYJ
WKL WOLTERS KLUWER NV
REE RED ELECTRICA CORP. SA
BAS BASF SE
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
ASM ASM INTERNATIONAL N.V.
KGX KION GROUP AG
MONC MONCLER SPA
AENA AENA SME SA
SKF B SKF AB CLASS B
SAN BANCO SANTANDER S.A.
BP. BP P.L.C.
BIM BIOMERIEUX SA
CPR DAVIDE CAMPARI-MILANO N.V.
GSK GSK PLC
FER FERROVIAL SA
PUIG PUIG BRANDS
- Jean-François Granjon
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 10/30/2024
The outcome of the US presidential election hangs in the balance, but the momentum seems to be with Donald Trump since the beginning of October: the candidate is now in the lead in six of the seven swing states, has just overtaken Kamala Harris in the national vote while 63% of punters are tipping him to win. We recap in the present note on the European stocks to play or avoid in the event of Donald Trump's victory and have also listed European stocks with a production base in the US,...
ETL EUTELSAT COMMUNICATIONS SA
OUT1V OUTOKUMPU OYJ
ALCLA CLASQUIN SA
TYRES NOKIAN RENKAAT OYJ
ACX ACERINOX SA
TRI TRIGANO SA
NEX NEXANS SA
ROYAL VOPAK NV
MMT METROPOLE TELEVISION SA
CIE CIE AUTOMOTIVE S.A.
AED AEDIFICA SA
MCPHY MCPHY ENERGY SA
SHOT SCANDIC HOTELS GROUP
MELE MELEXIS NV
ENC ENCE ENERGIA Y CELULOSA SA
CSM CORBION NV
LFDE LA FRANCAISE DE L'ENERGIE SA
IBG IBERPAPEL GESTION S.A.
IDR INDRA SISTEMAS S.A. CLASS A
MVC METROVACESA SA
ANTIN ANTIN INFRASTRUCTURE PARTNERS
FPE3 FUCHS PETROLUB SE
ORP ORPEA
- Arancha Pineiro
- Jean-François Granjon
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 30/10/2024
Le scrutin présidentiel US reste incertain, mais le momentum semble être du côté de Donald Trump depuis début octobre : le candidat est désormais en tête dans 6 des 7 swing states, vient de dépasser Kamala Harris dans le vote national et est donné gagnant à 63% chez les parieurs. Nous rappelons les valeurs européennes à privilégier ou à éviter en cas de victoire de Donald Trump, et avons également listé les valeurs européennes ayant une base de production aux US, par nature moins expo...
ETL EUTELSAT COMMUNICATIONS SA
OUT1V OUTOKUMPU OYJ
ALCLA CLASQUIN SA
TYRES NOKIAN RENKAAT OYJ
ACX ACERINOX SA
TRI TRIGANO SA
NEX NEXANS SA
ROYAL VOPAK NV
MMT METROPOLE TELEVISION SA
CIE CIE AUTOMOTIVE S.A.
AED AEDIFICA SA
MCPHY MCPHY ENERGY SA
SHOT SCANDIC HOTELS GROUP
MELE MELEXIS NV
ENC ENCE ENERGIA Y CELULOSA SA
CSM CORBION NV
LFDE LA FRANCAISE DE L'ENERGIE SA
IBG IBERPAPEL GESTION S.A.
IDR INDRA SISTEMAS S.A. CLASS A
MVC METROVACESA SA
ANTIN ANTIN INFRASTRUCTURE PARTNERS
FPE3 FUCHS PETROLUB SE
ORP ORPEA
- Andres Bolumburu
ENCE: 3Q’24 RESULTS (ANÁLISIS BANCO SABADELL)
3Q'24 vs. 3Q'23 Results Sales: € 219.6 M (+28.6% vs. +26.2% BS(e)); EBITDA: € 51.6 M (€ -1.8 M in 3Q'23 vs. € 50.8 M BS(e)); EBIT: € 26.1 M (€ -28.2 M in 3Q'23 vs. € 25.8 M BS(e)); Net Profit: € 14.3 M (€ -24.0 M in 3Q'23 vs. € 12.2 M BS(e)); 9M'24 vs. 9M'23 Results Sales: € 668.1 M (+6.1% vs. +5.5% BS(e)); EBITDA: € 152.5 M (+139.8% vs. +138.5% BS(e)); EBIT: € 71.1 M (€ -17.6 M in 9M'23 vs. € 70.8 M BS(e)); Net Profit: € 40.8 M (€ -28.2 M in 9M'23 vs. € 38.7 M BS(e)); Results came in slightly a...
- Christophe-Raphaël Ganet
- Pierre Tegner
PUIG : Q3 up 11.6% l-f-l: rebound in makeup and strong momentum in fra...
>Outperform rating maintained. Q3 numbers likely to be well received - Outperform rating maintained with the target price unchanged at € 26.1. We continue to believe that the stock merits a long-term rerating, given its superior growth potential and the gradual shift from fragrances to beauty products. In the very short term, the Q3 performance should be welcomed on two counts: (i) the group’s positioning in fragrances has shielded it from the slowdown in the beauty m...
- Christophe-Raphaël Ganet
- Pierre Tegner
PUIG : Q3 up 11.6% l-f-l: rebound in makeup and strong momentum in fra...
>Outperform rating maintained. Q3 numbers likely to be well received - Outperform rating maintained with the target price unchanged at € 26.1. We continue to believe that the stock merits a long-term rerating, given its superior growth potential and the gradual shift from fragrances to beauty products. In the very short term, the Q3 performance should be welcomed on two counts: (i) the group’s positioning in fragrances has shielded it from the slowdown in the beauty m...
- Arancha Pineiro
- Andres Bolumburu
ENCE: RDOS. 9MESES’24 (ANÁLISIS BANCO SABADELL)
Rdos. 3T'24 vs 3T'23: Ventas: 219,6 M euros (+28,6% vs +26,2% BS(e)); EBITDA: 51,6 M euros (-1,8 M euros en 3T'23 vs 50,8 M euros BS(e)); EBIT: 26,1 M euros (-28,2 M euros en 3T'23 vs 25,8 M euros BS(e)); BDI: 14,3 M euros (-24,0 M euros en 3T'23 vs 12,2 M euros BS(e)). Rdos. 9meses'24 vs 9meses'23: Ventas: 668,1 M euros (+6,1% vs +5,5% BS(e)); EBITDA: 152,5 M euros (+139,8% vs +138,5% BS(e)); EBIT: 71,1 M euros (-17,6 M euros en 9meses'23 vs 70,8 M euros BS(e)); BDI: 40,8 M euros (-28,2 M euros...
- Research Department
IBERIAN DAILY 30 OCTOBER + 3Q’24 RESULTS. PREVIEWS (ANÁLISIS BANCO SAB...
NEWS SUMMARY: AENA, ENCE, ENDESA, FERROVIAL, GREENING, INDRA, METROVACESA, PUIG BRANDS, REDEIA, UNICAJA. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 3Q’24 results to be released over the coming days in Spain. Market moved by earnings releases European stock markets closed with slight drops, highly conditioned by the business results calendar and penalised by the new rise in...
- Christophe-Raphaël Ganet
- Pierre Tegner
PUIG : T3 à 11.6% en LfL : rebond du make-up et forte dynamique des pa...
>Opinion Surperformance maintenue. Un T3 24 qui devrait être bien accueilli - Surperformance maintenue avec un OC inchangé à 26.1 €. Nous continuons de penser que le titre mérite sur le long terme un rerating en raison de son potentiel de croissance supérieur et d’une mutation qui devrait être progressive du parfum vers la Beauté. A très court terme, la performance du T3 devrait être saluée à double titre. 1/ Le positionnement sur le parfum préserve le groupe du ralen...
- Research Department
INFORME DIARIO 30 0CTUBRE + RDOS. ESPAÑA Y EUROPA 3T’24. PREVIEWS (ANÁ...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: AENA, ENCE, ENDESA, FERROVIAL, GREENING, INDRA, METROVACESA, PUIG BRANDS, REDEIA, UNICAJA. EUROPA: BASF, KERING, SCHNEIDER ELECTRIC, VOLKSWAGEN. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 3T’24 que se publicarán en España y Europa en los próximos días. El mercado al son de los beneficios empresariales ...
- Luis de Toledo Heras
Ence : Lower pulp prices, wood costs and one-offs limit profitability
>Production disruptions and wood costs add pressure to FY 2024 estimates - Ence’s Q3 2024 results were modest but still superior to our quarterly estimates which reflected the decline in pulp prices (-15% vs Q3 2024 averages) and the announced production disruptions at Navia due to a cogeneration turbine break-up which does not affect pulp volumes but requires higher energy purchases (€ 2m extra cost in the quarter, not reflected in cash costs). Cash cost stood at € ...
- Research Department
INFORME DIARIO 09 0CTUBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAF, CAIXABANK, VISCOFAN. EUROPA: PERNOD RICARD. Sin catalizadores En una jornada de escasas referencias macro, las bolsas europeas lograron minorar las pérdidas de la apertura con el impulso de EE.UU. y el descenso en el precio del petróleo. El Ibex, que cerró con ligeras ganancias, volvió a ser el mejor índice de la Eurozona. Así, en el STOXX 600, la mayoría de sectores cerraron con pérdidas (15/20), lideradas por R. Básicos y B. de Consumo mient...
- Nicolas David
ODDO : Iberian Forum – Day 2
We hosted our 4th ODDO BHF Iberian Forum on the 1st and 2nd of October 2024, virtually. In total, 63 companies were present. In the following note, we provide some initial feedback from the companies on day 2. - >ACS (=): good operating momentum maintained, Abertis and its dividends on the front page - Atresmedia (=): Q3 should be challenging but outlook reiterated - Befesa (=): zinc prices held up well, offsetting the negative impact of maintenance on Q3 volumes - CaixaBank ...
REE RED ELECTRICA CORP. SA
ELE ENDESA S.A.
CIE CIE AUTOMOTIVE S.A.
NVG NAVIGATOR COMPANY SA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
MAP MAPFRE SA
ENC ENCE ENERGIA Y CELULOSA SA
CABK CAIXABANK SA
IBE IBERDROLA SA
COL INMOBILIARIA COLONIAL SOCIMI SA
SAN BANCO SANTANDER S.A.
UNI UNICAJA BANCO S.A.
HOME NEINOR HOMES SA
BFSA BEFESA SA
GRE GRENERGY RENOVABLES
FER FERROVIAL SA
- Research Department
IBERIAN DAILY 12 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: AEDAS HOMES, CAF, CHANGES IBEX, NEINOR HOMES. IBEX close to 11,300 points It was a positive session in Europe, with the US inflation data showing no surprises and where the IBEX led the gains following Inditex’s solid results. Thus, in the STOXX 600 Retail (driven by Inditex’s results) and Technology posted the biggest gains, whereas Real Estate (the second-best sector over the past three months) and Consumer Goods were the worst performers. On the macro side, in the US August’s g...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.