reports
- Alfonso Mariategui
AIR LIQUIDE / LINDE: A-GAS-AJANDO AL INVERSOR (ANÁLISIS BANCO SABADELL...
A-gas-ajando al inversor. Mantenemos SOBREPONDERAR en ambas. Aquellos que se compraron hace 5 años a los principales players del sector gasístico europeo (AI y LIN) y han “dejado” a las acciones hacer su trabajo se han visto agasajados con unas rentabilidades del +35% y +146% vs Euro STOXX 50 respectivamente. Esto es reflejo de las cualidades del sector (oligopolio, barreras de entrada, capacidad para traspasar e incrementar precios, resiliencia y visibilidad de crecimiento futuro), que vemos c...
- Research Department
INFORME DIARIO 22 NOVIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: COLONIAL, GRIFOLS, IMPUESTOS, SECTOR BANCARIO. EUROPA: AIR LIQUIDE, LINDE. Dudas en los mercados Jornada de menos a más tras los resultados de Nvidia en las bolsas europeas, que terminaron con subidas moderadas y con el Ibex recuperando los 11.600 puntos. Así, dentro del STOXX 600, Seguros y Energía lideraron las ganancias, frente a Telecos y Bienes de Consumo que terminaron con las mayores caídas. En la Eurozona la confianza del consumidor prelim...
- 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...
- Research Department
IBERIAN DAILY 13 NOVEMBER + 3Q’24 RESULTS. HIGHLIGHTS AND REST OF PREV...
NEWS SUMMARY: ACS, AENA, CAF, GREENING, NEINOR HOMES, REAL ESTATE SECTOR, SACYR. 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. Germany to hold elections in February The contagion from Asia, along with the increased geopolitical risk, dragged down European stock markets. In the STOXX 600, only Technology ended in gree...
- Luis Arredondo
- Luis Arredondo
SACYR: 3Q’24 RESULTS (ANÁLISIS BANCO SABADELL)
3Q'24 vs. 3Q'23 Results Sales: € 1.143 Bn (+5.8% vs. -0.7% BS(e) and +0.9% consensus); EBITDA: € 290.8 M (-13.2% vs. -10.8% BS(e) and -11.1% consensus); EBIT: € 270.35 M (+1.3% vs. -0.9% BS(e) and -6.7% consensus); Net Profit: € 22.0 M (-21.4% vs. -12.7% BS(e) and -25.0% consensus); 9M'24 vs. 9M'23 Results Sales: € 3.262 Bn (+0.6% vs. -1.6% BS(e) and -1.1% consensus); EBITDA: € 947.8 M (-3.3% vs. -2.5% BS(e) and -2.6% consensus); EBIT: € 870.0 M (+2.8% vs. +2.2% BS(e) and +0.3% consensus); Net P...
- Ignacio Romero
LOGISTA: FY2024 RESULTS AND T.P. UPGRADE (ANÁLISIS BANCO SABADELL)
3Q'24 vs. 3Q'23 Results Sales: € 439 M (+3.6% vs. +2.9% BS(e)); EBIT: € 95 M (+2.5% vs. +1.7% BS(e)); Net Profit: € 71 M (-9.7% vs. -5.9% BS(e)). FY2024 vs. FY2023 Results Sales: € 1.76 Bn (+4.3% vs. +4.2% BS(e)); EBIT: € 385 M (+5.2% vs. +5.0% BS(e)); Net Profit: € 308 M (+13.2% vs. +14.3% BS(e)).
- Ignacio Romero
LOGISTA: RDOS. 2024 Y CAMBIO DE P.O. AL ALZA (ANÁLISIS BANCO SABADELL)
Rdos. 4T'24 vs 4T'23: Ventas: 439 M euros (+3,6% vs +2,9% BS(e)); EBIT: 95 M euros (+2,5% vs +1,7% BS(e)); BDI: 71 M euros (-9,7% vs -5,9% BS(e)). Rdos. 2024 vs 2023: Ventas: 1.757 M euros (+4,3% vs +4,2% BS(e)); EBIT: 385 M euros (+5,2% vs +5,0% BS(e)); BDI: 308 M euros (+13,2% vs +14,3% BS(e)).
- Luis Arredondo
SACYR: RDOS. 3T’24 (ANÁLISIS BANCO SABADELL)
Rdos. 3T'24 vs 3T'23: Ventas: 1.143 M euros (+5,8% vs -0,7% BS(e) y +0,9% consenso); EBITDA: 290,8 M euros (-13,2% vs -10,8% BS(e) y -11,1% consenso); EBIT: 270,35 M euros (+1,3% vs -0,9% BS(e) y -6,7% consenso); BDI: 22,0 M euros (-21,4% vs -12,7% BS(e) y -25,0% consenso); Rdos. 9meses'24 vs 9meses'23: Ventas: 3.262 M euros (+0,6% vs -1,6% BS(e) y -1,1% consenso); EBITDA: 947,8 M euros (-3,3% vs -2,5% BS(e) y -2,6% consenso); EBIT: 870,0 M euros (+2,8% vs +2,2% BS(e) y +0,3% consenso); BDI: 74,...
- Alfonso Mariategui
LINDE: RDOS. 3T’24 Y CAMBIO DE P.O. A LA BAJA (ANÁLISIS BANCO SABADELL...
Rdos. 3T'24 vs 3T'23: Ventas: 8.356 M dólares (+2,5% vs +2,8% BS(e) y +2,8% consenso); EBIT ajustado: 2.477 M dólares (+7,4% vs +6,4% BS(e) y +5,2% consenso); BDI ajustado: 1.896 M dólares (+6,3% vs +5,8% BS(e) y +5,7% consenso); Rdos. 9meses'24 vs 9meses'23: Ventas: 24.723 M dólares (+0,7% vs +0,8% BS(e) y +0,8% consenso); EBIT ajustado: 7.240 M dólares (+6,5% vs +6,2% BS(e) y +5,8% consenso); BDI ajustado: 5.576 M dólares (+6,5% vs +6,3% BS(e) y +6,3% consenso).
- 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
- 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...
L’ORÉAL SUCCESSFULLY PRICES A 1.25 BILLION EURO DUAL TRANCHE BOND
L’ORÉAL SUCCESSFULLY PRICES A 1.25 BILLION EURO DUAL TRANCHE BOND NEWS RELEASE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA L’ORÉAL SUCCESSFULLY PRICES A 1.25 BILLION EURO DUAL TRANCHE BOND Clichy, 29 October 2024 – L’Oréal today announces that it has successfully priced a public bond offering for an aggregate nominal amount of €1.25 billion. The offering is composed of two tranches: - A €750 million 3-year fixed rate bond paying a coupon of 2.50 % p.a. - A €500 million 7-year fixed rate bond paying a co...
L’ORÉAL RÉALISE AVEC SUCCÈS UNE ÉMISSION OBLIGATAIRE EN DEUX TRANCHES ...
L’ORÉAL RÉALISE AVEC SUCCÈS UNE ÉMISSION OBLIGATAIRE EN DEUX TRANCHES POUR UN MONTANT TOTAL DE 1,25 MILLIARD D’EUROS COMMUNIQUÉ NE PAS DIFFUSER, PUBLIER OU DISTRIBUER, DIRECTEMENT OU INDIRECTEMENT, AUX ETATS-UNIS, AU CANADA, AU JAPON OU EN AUSTRALIE L’ORÉAL RÉALISE AVEC SUCCÈS UNE ÉMISSION OBLIGATAIRE EN DEUX TRANCHES POUR UN MONTANT TOTAL DE 1,25 MILLIARD D’EUROS Clichy, le 29 octobre 2024 – L’Oréal a procédé aujourd’hui avec succès au placement d’une émission obligataire d’un montant nominal total de 1,25 milliard d’euros. L’offre est composée de deux tranches :- Une tranche de 750...
- 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...
- 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 ...
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