ODDO BHF Small & MIDCAP MORNING NEWS – 25/11/2024

Lar España : Q3 2024: wait and see

LAR ESPAÑA: RDOS. 9MESES’24 (ANÁLISIS BANCO SABADELL)

Rdos. 9meses'24 vs 9meses'23: Ingresos comparables recurrentes: 74 M euros (+4%); BDI recurrente: 56,8 M euros (+17%). Publicó un escueto Trading Update de los 9meses’24 donde muestra unas cifras de ingresos comparables recurrentes y BDI totalmente alineados con lo que esperamos para todo el ejercicio. Los ingresos comparables recurrentes crecieron un +4%, entendemos que por indexación, mejora de ocupación y subida de precios en las renovaciones. La ocupación al cierre de septiembre aumentó +8...

IBERIAN DAILY 18 NOVEMBER + 3Q’24 RESULTS. PREVIEWS (ANÁLISIS BANCO SA...

NEWS SUMMARY: ACCIONA, ACCIONA ENERGÍA, ENDESA, GRIFOLS, MERLIN PROPERTIES, ROVI. 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. Post-electoral phase in the US After the confirmation that the Republican Party obtained majority in the two parliamentary chambers and following some announcements or possible appointments...

INFORME DIARIO 18 NOVIEMBRE + RDOS. ESPAÑA 3T’24. PREVIEWS (ANÁLISIS B...

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, ACCIONA ENERGÍA, ENDESA, GRIFOLS, MERLIN PROPERTIES, ROVI. EUROPA: 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. Mercados en fase post-electoral Durante la semana pasada los índices mundiales entraron en la fase post elect...

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/13/2024

We maintain our Outperform rating on CaixaBank, one of our Top Picks in the sector, with a higher target of € 7.2 vs € 6.7 and ahead of the CMD on 19 November. We are lifting our net income estimates by 7% for 2025-2026, to 7% above the consensus. The strategic update is set to highlight the wisdom of the business model diversification (long-term savings) to address the current transition phase on rates. Despite a solid market performance, the profile does not look to be fully reflec...

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 13/11/2024

Nous réitérons notre opinion Surperformance sur CaixaBank, l’un de nos top picks du secteur, avec un OC porté à 7.2 € vs 6.7 € et en amont du CMD du 19/11. Nous relevons nos anticipations de RN de 7% sur 2025/2026 qui ressortent 7% supérieures au consensus. L’update stratégique devrait mettre en avant la pertinence de la diversification du business model (épargne LT) face à la transition actuelle sur les taux. Malgré un solide parcours boursier, cela n’est pas pleinement reflété dans ...

ODDO : Spain: the PSOE and SUMAR looking to abolish the SOCIMI regime

>PSOE and Sumar spring a surprise in seeking to suddenly abolish the SOCIMI regime - On Monday 11 November, the PSOE reached a tax agreement with its Spanish government ally, “Sumar”, whereby the two parties want to abolish the SOCIMI REIT regime or at least part of its tax advantages. This sudden stance, which surprised Spanish property professionals, is thus different from the position that was presented just last week, namely to “encourage the construction of affor...

ODDO : Espagne : le PSOE et SUMAR souhaiteraient abolir le régime SOCI...

>PSOE et Sumar créent la surprise en voulant supprimer soudainement le régime SOCIMI - Ce lundi 11 novembre, le PSOE sont parvenus à un accord fiscal avec son allié au gouvernement espagnol, « Sumar », par lequel les deux partis veulent supprimer le régime SOCIMI ou au moins une partie de ses avantages fiscaux. Cette prise de position soudaine qui a crée la surprise auprès des professionnels de l’immobilier espagnol, diffère ainsi de la position qui était encore mise ...

ODDO BHF Small & MIDCAP MORNING NEWS - 11/08/2024

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ODDO BHF Small & MIDCAP MORNING NEWS - 08/11/2024

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Laboratorios Rovi : Risvan’s US launch aborted. Dull FY25 guidance off...

>Clarifying foreword - Please note that the company filed a first English version of its Q3 results release with the Spanish market watchdog (CNMV) in which it stated the following: ‘Finally, having obtained marketing authorisation for Risvan® from the FDA (Food and Drug Administration), ROVI expects to start marketing the product on the United States market, probably through a partner. Although the potential sales that this product will reach in 2025 were taken into ...

ROVI: MENSAJES DE LA CONFERENCE CALL RDOS. 3T’24 (ANÁLISIS BANCO SABAD...

De la conference call de Rdos. 3T’24 destacamos:

ROVI: 3Q’24 RESULTS (ANÁLISIS BANCO SABADELL)

3Q'24 vs. 3Q'23 Results Sales: € 235.26 M (+9.9% vs. +6.6% BS(e) and +6.9% consensus); EBITDA: € 97.3 M (+31.3% vs. +13.9% BS(e) and +13.9% consensus); EBIT: € 90.12 M (+32.1% vs. +13.8% BS(e) and +12.6% consensus); Net Profit: € 69.16 M (+32.5% vs. +16.0% BS(e) and +15.6% consensus); 9M'24 vs. 9M'23 Results Sales: € 564.6 M (-5.1% vs. -6.3% BS(e) and -6.2% consensus); EBITDA: € 167.2 M (-2.3% vs. -9.9% BS(e) and -9.9% consensus); EBIT: € 146.6 M (-4.4% vs. -12.6% BS(e) and -13.1% consensus); Ne...

ROVI: RDOS. 3T’24 (ANÁLISIS BANCO SABADELL)

Rdos. 3T'24 vs 3T'23: Ventas: 235,26 M euros (+9,9% vs +6,6% BS(e) y +6,9% consenso); EBITDA: 97,3 M euros (+31,3% vs +13,9% BS(e) y +13,9% consenso); EBIT: 90,12 M euros (+32,1% vs +13,8% BS(e) y +12,6% consenso); BDI: 69,16 M euros (+32,5% vs +16,0% BS(e) y +15,6% consenso); Rdos. 9meses'24 vs 9meses'23: Ventas: 564,6 M euros (-5,1% vs -6,3% BS(e) y -6,2% consenso); EBITDA: 167,2 M euros (-2,3% vs -9,9% BS(e) y -9,9% consenso); EBIT: 146,6 M euros (-4,4% vs -12,6% BS(e) y -13,1% consenso); BDI...

IBERIAN DAILY 07 NOVEMBER + 3Q’24 RESULTS. HIGHLIGHTS AND REST OF PREV...

NEWS SUMMARY: ACCIONA, ACCIONA ENERGÍA, AEDAS, AMADEUS, ARCELORMITTAL, INDRA, INMOBILIARIA COLONIAL, ROVI, TELEFÓNICA. 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. European stock markets do not welcome Trump European stock markets saw strong corrections, particularly the Ibex after D. Trump’s victory. On the contra...

INFORME DIARIO 07 NOVIEMBRE + RDOS. ESPAÑA Y EUROPA 3T’24. IDEAS DESTA...

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, ACCIONA ENERGÍA, AEDAS HOMES, AMADEUS, ARCELORMITTAL, COLONIAL, INDRA, ROVI, TELEFÓNICA. EUROPA: MUNICH RE. 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. A la bolsa europea no le sienta bien Trump Jornada de fuertes caídas en Europ...

ODDO BHF Small & MIDCAP MORNING NEWS - 10/24/2024

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ODDO BHF Small & MIDCAP MORNING NEWS - 24/10/2024

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Laboratorios Rovi : Rules out entry of PE investors in its CDMO busine...

>Management wants to continue its CDMO business on its own - The company has just unveiled, via a regulatory filing, that they discard the option of selling/sharing its CDMO business with a third-party investor after assessing the non-binding offers received that, apparently, were pointing to a >€ 3bn valuation. Earlier this year, the company has been evaluating strategic options for its assets including a potential sale of a stake in its third-party contract develop...