reports
- 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...
- Research Department
INFORME DIARIO 12 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: AEDAS, CAF, CAMBIOS IBEX 35, NEINOR. EUROPA: BAYER, UNICREDIT. El Ibex roza los 11.300 puntos Jornada positiva en Europa, con un dato de inflación en EE.UU. que no ofreció sorpresas y donde el Ibex lideró los avances tras los buenos resultados de Inditex. Así, en el STOXX 600 Retail (impulsado por los resultados de Inditex) y Tecnología presentaron las mayores ganancias mientras que Inmobiliario (el segundo mejor sector en los últimos 3 meses) y B. ...
- Research Department
IBERIAN DAILY 06 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ENCE, PUIG BRANDS. All eyes on the US job market European stock markets saw slight corrections, with the market dynamics remaining practically unchanged. Thus, the STOXX 600 saw significant dispersion, with Utilities and Real Estate being the best-performing sectors whereas Consumer Goods (the luxury segment remains highly punished by China) and Pharma posted the biggest drops. On the macro side, in the euro zone, retail sales rose in line with expectations. In France, E. Macron a...
- Research Department
INFORME DIARIO 06 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ENCE. A la espera de nuevos datos del mercado laboral estadounidense Ligeras caídas en la bolsa Europa y sin grandes cambios en la dinámica del mercado. Mucha dispersión en el STOXX 600 donde los mejores sectores fueron Utilities e Inmobiliario mientras que B. Consumo (el lujo sigue muy castigada por China) y Farma terminaron con las mayores correcciones. Por el lado macro, en la Eurozona las ventas al por menor avanzaron en línea con lo previsto. ...
- Research Department
IBERIAN DAILY 06 AUGUST (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: GRIFOLS, NEINOR HOMES, OHLA, TALGO. Fear of a recession leads to profit taking After an extremely bearish opening dragged down by the sharp drops in Japan, during the evening the stock markets reeled in their losses following the release of the services ISM in the US that helped calm the markets regarding the macroeconomic situation and cooling expectations of an extraordinary rate cut. On the macro side, in Spain June’s industrial output recovered more than expected. In the euro ...
- Research Department
INFORME DIARIO 06 AGOSTO + RDOS. EUROPA 2T’24. PREVIEWS (ANÁLISIS BANC...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: GRIFOLS, NEINOR HOMES, OHLA, TALGO. EUROPA: AIRBUS, BAYER. 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. 2T’24 que se publicarán en España y Europa en los próximos días. El temor a la recesión desata las tomas de beneficios Tras una apertura fuertemente bajista lastrada por las fuertes correcciones en Jap...
Ence Energia Y Celulosa SA: 1 director
A director at Ence Energia Y Celulosa SA bought 3,180,000 shares at 3.146EUR and the significance rating of the trade was 100/100. 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 t...
- Research Department
IBERIAN DAILY 01 AUGUST + 2Q’24 RESULTS. PREVIEWS (ANÁLISIS BANCO SABA...
NEWS SUMMARY: CAIXABANK, CAF, ENAGÁS, ENCE, FLUIDRA, MELIÁ HOTELS. 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 2Q’24 results to be released over the coming days in Spain. The market expects a rate cut from the Fed in September European markets saw gains ahead of the Fed meeting. In the STOXX 600, Technology and Basic Resources were the best performing sectors, whereas Retai...
- Research Department
INFORME DIARIO 01 AGOSTO + RDOS. ESPAÑA Y EUROPA 2T’24. PREVIEWS (ANÁL...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ARCELORMITTAL, CAF, CAIXABANK, ENAGÁS, ENCE, FLUIDRA, MELIÁ. EUROPA: AB INBEV, ASML, BMW, DHL GROUP, ING, SOCIÉTÉ GÉNÉRALE. 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. 2T’24 que se publicarán en España y Europa en los próximos días. El mercado espera que la Fed recorte en septiembre Avances en Europa an...
- Andres Bolumburu
ENCE: 1H’24 RESULTS (ANÁLISIS BANCO SABADELL)
2Q'24 vs. 2Q'23 Results Sales: € 244.8 M (+64.6% vs. +57.4% BS(e) and +57.9% consensus); EBITDA: € 65.5 M (€ 12.4 M in 1H'23 vs. € 63.8 M BS(e) and € 62.4 M consensus); EBIT: € 35.7 M (€ -68.2 M in 1H'23 vs. € 38.8 M BS(e) and € 41.0 M consensus); Net Profit: € 23.1 M (€ -45.1 M in 1H'23 vs. € 18.2 M BS(e) and € 20.1 M consensus); 1H'24 vs. 1H'23 Results Sales: € 448.5 M (-2.2% vs. -2.4% BS(e) and -2.3% consensus); EBITDA: € 100.9 M (+54.3% vs. +66.2% BS(e) and +71.1% consensus); EBIT: € 45.0 M ...
- Charlotte Vaisse
- Juan Ros-Padilla
NK IMERYS SA
NXI NEXITY SA CLASS A
NTG NETGEM SA
NRG NRJ GROUP SA
MRN MERSEN SA
MTU MANITOU BF SA
ALTA ALTAREA SCA
MBB MBB INDUSTRIES SE
BIG BIGBEN INTERACTIVE SA
FAE FAES FARMA S.A.
ECV ENCAVIS AG
VIS VISCOFAN S.A.
FCC FOMENTO DE CONSTRUCCIONES Y CONTRATAS S.A.
AED AEDIFICA SA
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
MELE MELEXIS NV
ENC ENCE ENERGIA Y CELULOSA SA
COL INMOBILIARIA COLONIAL SOCIMI SA
TLGO TALGO SA
IDR INDRA SISTEMAS S.A. CLASS A
PSG PROSEGUR COMPANIA DE SEGURIDAD SA
TKO TIKEHAU CAPITAL SCA
UNI UNICAJA BANCO S.A.
DUFN DUFRY AG
CGG CGG
TKWY JUST EAT TAKEAWAY.COM N.V.
TMV TEAMVIEWER AG
VRLA VERALLIA SAS
NACON NACON SASU
ZEL PHARMA MAR SA
AG1 AUTO1 GROUP
EBUS EBUSCO HLDG NV
AELIS AELIS FARMA SA
EAPI EUROAPI
BRE BREMBO S.P.A.
- Charlotte Vaisse
- Juan Ros-Padilla
NK IMERYS SA
NXI NEXITY SA CLASS A
NTG NETGEM SA
NRG NRJ GROUP SA
MRN MERSEN SA
MTU MANITOU BF SA
ALTA ALTAREA SCA
ATE ALTEN SA
MBB MBB INDUSTRIES SE
BIG BIGBEN INTERACTIVE SA
FAE FAES FARMA S.A.
ECV ENCAVIS AG
VIS VISCOFAN S.A.
FCC FOMENTO DE CONSTRUCCIONES Y CONTRATAS S.A.
AED AEDIFICA SA
MELE MELEXIS NV
ENC ENCE ENERGIA Y CELULOSA SA
COL INMOBILIARIA COLONIAL SOCIMI SA
TLGO TALGO SA
IDR INDRA SISTEMAS S.A. CLASS A
PSG PROSEGUR COMPANIA DE SEGURIDAD SA
TKO TIKEHAU CAPITAL SCA
UNI UNICAJA BANCO S.A.
DUFN DUFRY AG
CGG CGG
TKWY JUST EAT TAKEAWAY.COM N.V.
TMV TEAMVIEWER AG
VRLA VERALLIA SAS
NACON NACON SASU
ZEL PHARMA MAR SA
AG1 AUTO1 GROUP
EBUS EBUSCO HLDG NV
AELIS AELIS FARMA SA
EAPI EUROAPI
BRE BREMBO S.P.A.
- Luis de Toledo Heras
Ence : On track to profitability and cash flow normalisation
>Significant profitability improvement on record pulp prices, supporting volumes and lower operating costs - Good results (EBITDA Q2 2024 of € 65.5m, +1% vs ODDO BHFe and 5x Q2 2023 levels), largely in line with our estimates both at the group and segment level, driven by higher pulp prices (€ 728/t effective selling price: +26% y-o-y, +21% q-o-q; 42% implied commercial discount), higher pulp selling volumes (255kt: +4.5% y-o-y, +5.4% q-o-q, with a higher share of Enc...
- Andres Bolumburu
ENCE: RDOS. 1S'24 (ANÁLISIS BANCO SABADELL)
Rdos. 2T'24 vs 2T'23: Ventas: 244,8 M euros (+64,6% vs +57,4% BS(e) y +57,9% consenso); EBITDA: 65,5 M euros (12,4 M euros en 2T'23 vs 63,8 M euros BS(e) y 62,4 M euros consenso); EBIT: 35,7 M euros (-68,2 M euros en 2T'23 vs 38,8 M euros BS(e) y 41,0 M euros consenso); BDI: 23,1 M euros (-45,1 M euros en 2T'23 vs 18,2 M euros BS(e) y 20,1 M euros consenso). Rdos. 1S'24 vs 1S'23: Ventas: 448,5 M euros (-2,2% vs -2,4% BS(e) y -2,3% consenso); EBITDA: 100,9 M euros (+54,3% vs +66,2% BS(e) y +71,1%...
- Research Department
INFORME DIARIO 31 JULIO + RDOS. ESPAÑA Y EUROPA 2T’24. IDEAS DESTACADA...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAIXABANK, COLONIAL, ENCE, FERROVIAL, GRIFOLS, OHLA, RED ELÉCTRICA, ROVI, TALGO, TELEFÓNICA, VISCOFAN. EUROPA: ADIDAS, AIRBUS, DANONE, L'ORÉAL, SAFRAN, SCHNEIDER. 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. 2T’24 que se publicarán en España y Europa en los próximos días. Rebote entre resultados empresar...
SU SCHNEIDER ELECTRIC SE
ADS ADIDAS AG
OR L'OREAL SA
SAF SAFRAN S.A.
AIR AIRBUS SE
OHL OBRASCON HUARTE LAIN SA
VIS VISCOFAN S.A.
ENC ENCE ENERGIA Y CELULOSA SA
CABK CAIXABANK SA
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
TLGO TALGO SA
FER FERROVIAL S.A.
TEF TELEFONICA SA
RE21 RED ELECTRICA CORP. S.A.
COL SM INMOBILIARIA COLONIAL (COL SM)
GRF SM GRIFOLS (GRF SM)
LUND-B L E LUNDBERGFORETAGEN AB
- Research Department
IBERIAN DAILY 31 JULY + 2Q’24 RESULTS. HIGHLIGHTS AND REST OF PREVIEWS...
NEWS SUMMARY: CAIXABANK, COLONIAL, ENCE, FERROVIAL, GRIFOLS, OHLA, REDEIA, ROVI, TALGO, TELEFÓNICA, VISCOFAN. 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 2Q’24 results to be released over the coming days in Spain. Rally amid business results There was a slight rally on the marked, marked more by the results presentations than by the cycle. In the STOXX 600, the best-perform...
- Jerôme Bodin
PROX PROXIMUS SA DE DROIT PUBLIC
BEKB BEKAERT SA
VCT VICAT-CIMENTS VICAT SA
BFIT BASIC-FIT NV
GTT GAZTRANSPORT & TECHNIGAZ SA
NXI NEXITY SA CLASS A
TFI TELEVISION FRANCAISE 1 SA
BIO BB BIOTECH AG
ALCLA CLASQUIN SA
DEC JCDECAUX SA
ASY ASSYSTEM SA
BLC BASTIDE LE CONFORT MEDICAL SA
ALTR ALTRI SGPS SA
CGM CEGEDIM SA
SRP SRP GROUPE SA
FII LISI SA
LSS LECTRA SA
LNA LNA SANTE SA
GBT GUERBET SA
GOE GROUPE GORGE SA
ATE ALTEN SA
FR VALEO SE
ERA ERAMET SA
COFB COFINIMMO SA
MBWS MARIE BRIZARD WINE & SPIRITS SA
SOC SUBSEA 7 S.A.
ROYAL VOPAK NV
SESL SES-IMAGOTAG SA
SEFER SERGEFERRARI GROUP SA
WAF SILTRONIC AG
WBD WEBUILD S.P.A.
INSD VERIMATRIX SA
SPIE SPIE SA
TEC TECHNIPFMC PLC
XFAB X-FAB SILICON FOUNDRIES SE
HOME NEINOR HOMES SA
SMCP SMCP SA
BFSA BEFESA SA
VOS VOSSLOH AG
2CRSI 2CRSI SA
NEOEN NEOEN S.A.
HAG HENSOLDT AG
VK VALLOUREC SA
ALHRS HYDROGEN REFUELING SOLUTIONS
FORSE FORSEE POWER SA
SPM SAIPEM S.P.A.
FLOW FLOW TRADERS LTD
AF AIR FRANCE - KLM
- Jerôme Bodin
PROX PROXIMUS SA DE DROIT PUBLIC
BEKB BEKAERT SA
VCT VICAT-CIMENTS VICAT SA
BFIT BASIC-FIT NV
GTT GAZTRANSPORT & TECHNIGAZ SA
NXI NEXITY SA CLASS A
TFI TELEVISION FRANCAISE 1 SA
BIO BB BIOTECH AG
ALCLA CLASQUIN SA
DEC JCDECAUX SA
ASY ASSYSTEM SA
BLC BASTIDE LE CONFORT MEDICAL SA
ALTR ALTRI SGPS SA
CGM CEGEDIM SA
SRP SRP GROUPE SA
FII LISI SA
LSS LECTRA SA
LNA LNA SANTE SA
GBT GUERBET SA
GOE GROUPE GORGE SA
ATE ALTEN SA
FR VALEO SE
ERA ERAMET SA
ELIS ELIS SA
COFB COFINIMMO SA
MBWS MARIE BRIZARD WINE & SPIRITS SA
SOC SUBSEA 7 S.A.
ROYAL VOPAK NV
SESL SES-IMAGOTAG SA
SEFER SERGEFERRARI GROUP SA
WAF SILTRONIC AG
WBD WEBUILD S.P.A.
INSD VERIMATRIX SA
SPIE SPIE SA
TEC TECHNIPFMC PLC
XFAB X-FAB SILICON FOUNDRIES SE
HOME NEINOR HOMES SA
SMCP SMCP SA
BFSA BEFESA SA
VOS VOSSLOH AG
2CRSI 2CRSI SA
NEOEN NEOEN S.A.
S30 SOLUTIONS 30 SE
HAG HENSOLDT AG
VK VALLOUREC SA
ALHRS HYDROGEN REFUELING SOLUTIONS
FORSE FORSEE POWER SA
SPM SAIPEM S.P.A.
FLOW FLOW TRADERS LTD
AF AIR FRANCE - KLM
- Ignacio Romero
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