Having flirted with the 495-point mark on Friday, which could have triggered an extension of the correction, the market has rebounded well since then. Our technical analysis highlights a configuration in which we are only at the start of a powerful rally. Target of 622 points for Stoxx 600 index (+11%) by the end of the year confirmed. Prefer banks to insurance companies in the short term. - ...
Après avoir frôlé vendredi la barre des 495 points qui aurait pu déclencher la poursuite de la correction, le marché a ensuite bien rebondi. Notre analyse technique met en lumière une configuration où nous ne serions qu’au début d’un rallye puissant. Objectif 622 points (+11%) d’ici à la fin de l’année confirmé sur le Stoxx 600. Préférer les banques aux assurances à court terme. - ...
>Q1 sales at -5.9% with organic growth of just +1.4% - Nestlé posted very poor Q1 results well below expectations which had been already lowered during the last 4 weeks. Reported net sales came in at CHF 22,092m at -5.9% (VA consensus at -3.8% and ODDO BHF at -3.2%) with FX at -6.7%, a scope effect of -0.6% and organic growth at a very low level of +1.4% (VA css at +3.1% and ODDO BHF at +2.6%). Q1 organic growth of just +1.4% was driven by a negative volume mix ...
>Q1 sales at -5.9% with organic growth of just +1.4% - Nestlé posted very poor Q1 results well below expectations which had been already lowered during the last 4 weeks. Reported net sales came in at CHF 22,092m at -5.9% (VA consensus at -3.8% and ODDO BHF at -3.2%) with FX at -6.7%, a scope effect of -0.6% and organic growth at a very low level of +1.4% (VA css at +3.1% and ODDO BHF at +2.6%). Q1 organic growth of just +1.4% was driven by a negative volume mix ...
Nestlé reports three-month sales for 2024 [Ad hoc announcement pursuant to Art. 53 LR] This press release is also available in and Follow today's event live 14:00 CEST Full details on our ............. Vevey, April 25, 2024 Nestlé reports three-month sales for 2024 Organic growth of 1.4%, with pricing of 3.4% and real internal growth (RIG) of -2.0%.Total reported sales were CHF 22.1 billion, a decrease of 5.9% (3M-2023: CHF 23.5 billion). Foreign exchange decreased sales by 6.7%. Net divestitures had a negative impact of 0.6%.Overall, organic sales growth for the Group was dr...
In the run-up to the 2024 Summer Olympic Games and Euro 2024 football tournament, we have identified six stocks to favour: JCDecaux, Accor, Sodexo, adidas, Unibail-Rodamco-Westfield and easyJet. While these two major sporting events are not expected to have a significant impact on the host economies in the medium term, the microeconomic and sectoral impacts should be more marked. The tourism, transport, beverages and consumer goods sectors are expected to be the main winners. Som...
En amont des Jeux Olympiques d’été et de l’Euro de football 2024, nous identifions 6 valeurs à privilégier : JCDecaux, Accor, Sodexo, adidas, Unibail-Rodamco-Westfield et easyJet. Alors que ces deux évènements sportifs majeurs ne devraient pas avoir d’impact significatif sur les économies hôtes à moyen terme, les impacts microéconomiques et sectoriels devraient être plus marqués. Les secteurs du tourisme, des transports, des boissons et des biens de consommation devraient être l...
Nestlé announces retirement of Marco Settembri, appointment of Guillaume Le Cunff as CEO Zone Europe [Ad hoc announcement pursuant to Art. 53 LR] This press release is also available in and ............. Nestlé announces retirement of Marco Settembri, appointment of Guillaume Le Cunff as CEO Zone Europe Vevey, April 18, 2024 Marco Settembri, Executive Vice President and Chief Executive Officer Zone Europe, will take a well-deserved retirement after a distinguished career of over 36 years at Nestlé. He will step down from the Group Executive Board on June 30, 2024. Since joining ...
A director at Nestlé SA sold 7,500 shares at 95.860CHF 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 two years clearly showi...
Nestlé slightly missed expectations for FY23 numbers yesterday and provided disappointing FY24 guidance of c4% organic growth. On the back of the publication and call, we slightly adjust our numbers and continue to see limited positive catalysts in the mid-term, prompting us to remain Neutral, PT C
>Earnings a share below estimates - The 2023 earnings reported this morning are in line with the targets set but a shade below forecasts. The main takeaways from this publication are the following: Organic sales growth of 7.3% (vs VA css at 7.3% and ODDO BHF at 7.5%).A volume/mix effect of -0.3% (vs VA css and ODDO BHF at 0%).A price effect of 7.5% (vs VA css at 7.3% and ODDO BHF at 7.5%).An underlying operating margin of 17.3%, up 20bp (+40bp at c...
>Résultats légèrement en-deçà des attentes - Les résultats 2023 publiés ce matin sont en ligne avec les objectifs fixés mais légèrement en dessous des attentes. Les principaux éléments de cette publication sont les suivants : Une croissance organique du CA de 7.3% (vs css VA à 7.3% et ODDO BHF à 7.5%).Un effet volume/mix de -0.3% (vs css VA et ODDO BHF à 0%).Un effet prix de 7.5% (vs css VA à 7.3% et ODDO BHF à 7.5%).Une marge opérationnelle couran...
Nestlé proposes Geraldine Matchett as new independent member of its Board of Directors [Ad hoc announcement pursuant to Art. 53 LR] This press release is also available in and ............. Nestlé proposes Geraldine Matchett as new independent member of its Board of Directors Nestlé announced today that it proposes Geraldine Matchett, previously the Co-Chief Executive Officer and CFO at DSM-Firmenich AG, a nutrition, health and beauty company, for election to its Board of Directors. The election will take place at the company's Annual General Meeting (AGM) on April 18, 2024. A...
Nestlé reports full-year results for 2023 [Ad hoc announcement pursuant to Art. 53 LR] This press release is also available in and Follow today's events live 09:00 CET 14:00 CET Full details on our Reports published today | Other language versions available in ............. Vevey, February 22, 2024 Nestlé reports full-year results for 2023 Organic growth reached 7.2%, with pricing of 7.5% and real internal growth (RIG) of -0.3%. Growth was broad-based across geographies and categories.Total reported sales were CHF 93.0 billion, a decrease of 1.5% (FY-2022: CHF ...
On Tuesday, Nestlé reportedly invested USD100m in Wonder, a food-delivery platform combining meal kits, meal delivery and foodservice operations. Although the investment makes sense for Nestlé to increase its foodservice presence, we believe better options would have been possible and again questio
Les phénomènes climatiques extrêmes de cet été, conséquences du changement climatique, sont amenés à se multiplier. Encore plus fréquents et intenses à l’avenir, ceux-ci auront des impacts transverses sur le capital humain, la sécurité alimentaire et l’eau. Il en va de même des impacts directs sur les secteurs agroalimentaire, énergie, semiconducteurs, tourisme, aéroports et assurance. Ces risques ne nous semblent pas encore suffisamment reflétés dans les modèles économiques. - ...
The extreme climate events of this summer, a consequence of climate change, are only bound to multiply. Due to become even more frequent and intense in the future, they will have interrelated impacts on human capital and on food and water security. The same applies to direct impacts on the agri-food, energy, semiconductors, tourism, airport and insurance sectors. Our view is that these risks are not yet sufficiently reflected in economic models. - ...
>Outperform rating maintained - Outperform maintained with a target price of CHF 123. The stock’s recent de-rating, in the wake of that of the US Food HPC stocks, provides a long-term opportunity for the group to position itself on a quality safe-haven stock with more than reasonable multiples (P/E 24e of 18.5x). The stock’s reaction to the Q3 sales publication could be slightly negative due to the forex impact but, due to the recent decline, it should not be ruled ou...
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