reports
- Baptiste Lebacq
FP TOTAL SE
AMS AMS AG
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ENI ENI S.P.A.
REP REPSOL SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
GNFT GENFIT SA
SIGHT GENSIGHT BIOLOGICS SA
WAF SILTRONIC AG
XIL XILAM ANIMATION SA
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
BP. BP P.L.C.
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
WOLF SOCIETE LDC SOCIETE ANONYME
ALKAL KALRAY SA
JEN JENOPTIK AG
TMV TEAMVIEWER AG
INPST INPOST S.A.
HDF HYDROGENE DE FRANCE
SHEL SHELL PLC
FLOW FLOW TRADERS LTD
ARM ARM HOLDINGS PLC
R3NK RENK GROUP AG
- Baptiste Lebacq
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/05/2024
Several themes are set to drive the 2024 proxy season, among them the change of voting policy of ISS and a tipping point for climate resolutions. It will also be the last one before the first CSRD reports. Its long-term impact on Boards could also be underestimated. A wave of appointments of specialized sustainability profiles would upset their balance. We identify the AGMs likely to be play the most decisive role for the companies in the medium term: Alstom, Teleperformance, Worldlin...
FP TOTAL SE
AMS AMS AG
AI AIR LIQUIDE SA
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
RI PERNOD RICARD SA
EL ESSILORLUXOTTICA SA
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ENI ENI S.P.A.
SAF SAFRAN S.A.
REP REPSOL SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
BP. BP P.L.C.
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
UMG UNIVERSAL MUSIC GROUP NV
SHEL SHELL PLC
ARM ARM HOLDINGS PLC
- Baptiste Lebacq
- Emmanuel Matot
FP TOTAL SE
AMS AMS AG
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ENI ENI S.P.A.
REP REPSOL SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
GNFT GENFIT SA
SIGHT GENSIGHT BIOLOGICS SA
WAF SILTRONIC AG
XIL XILAM ANIMATION SA
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
BP. BP P.L.C.
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
WOLF SOCIETE LDC SOCIETE ANONYME
ALKAL KALRAY SA
JEN JENOPTIK AG
TMV TEAMVIEWER AG
INPST INPOST S.A.
HDF HYDROGENE DE FRANCE
SHEL SHELL PLC
FLOW FLOW TRADERS LTD
ARM ARM HOLDINGS PLC
R3NK RENK GROUP AG
- Baptiste Lebacq
- Emmanuel Matot
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 05/04/2024
Plusieurs éléments animeront les assemblées générales 2024 : changement de politique de vote d’ISS, résolutions climat à un tournant… alors que cette saison est la dernière avant les premiers rapports CSRD. Celle-ci pourrait d’ailleurs avoir un impact long terme sous-estimé sur les conseils. Une vague de nominations de profils spécialisés en durabilité bouleverserait leurs équilibres. Nous identifions les AG les plus déterminantes pour la gouvernance des sociétés à moyen terme : Alsto...
FP TOTAL SE
AMS AMS AG
AI AIR LIQUIDE SA
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
RI PERNOD RICARD SA
EL ESSILORLUXOTTICA SA
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ENI ENI S.P.A.
SAF SAFRAN S.A.
REP REPSOL SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
BP. BP P.L.C.
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
UMG UNIVERSAL MUSIC GROUP NV
SHEL SHELL PLC
ARM ARM HOLDINGS PLC
- Martin Marandon-Carlhian
- Stephane Houri
ODDO : It really is memory that is saving the semiconductors market
>Global sales for February 2024 up +16.4% y-o-y vs +15.5% in January - Worldwide semiconductor sales in February 2024 were published by the WSTS (World Semiconductor Trade Statistics), with the usual one-month lag. On a three-month moving average, sales came to $ 43.6bn, slightly ahead of our forecast of $ 43.2bn. This represents a sequential decline of 3% (usual seasonal effect in February), but a fresh improvement in full-year growth to +16.4%, after +15.5% in Janu...
AMS AMS AG
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
ARM ARM HOLDINGS PLC
- Martin Marandon-Carlhian
- Stephane Houri
ODDO : C’est vraiment la mémoire qui sauve le marché des semiconducteu...
>Ventes mondiales de février 2024 à +16.4% yoy vs +15.5% en janvier - Les ventes mondiales de semiconducteurs de février 2024 viennent d’être publiés par le WSTS (World Semiconductor Trade Statistics), avec comme toujours, un mois de décalage. En données lissées (moyenne 3 mois), elles ressortent à 43.6 Md$, légèrement au-dessus de notre prévision de 43.2 Md$. Il s’agit d’une baisse en séquentiel de 3% (saisonnalité normale de février), mais d’une nouvelle améliorati...
AMS AMS AG
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
ARM ARM HOLDINGS PLC
- Research Team
WOOD Daily: EME Macro/Strategy – TL; PGE PW; THYAO TI; GPP PW; EU Oil ...
HEADLINES: • EME Macro/Strategy: Türkiye – unprecedented CHP victory in local elections • PGE: 4Q23 fully in line with prelims NEUTRAL • Turkish Airlines: 4Q24 conference call takeaways POSITIVE • Grupa Pracuj: key takeaways from the 4Q23 earnings call NEUTRAL • European oil and gas monthly: March 2024 – winter was survived, as expected • Poland macro: MPC keeps rates on hold, as expected • Romania macro: rates on hold, with a word of caution • Arabian Drilling: may have three offshore contracts...
- Charlotte Vaisse
FP TOTAL SE
AMS AMS AG
O2D TELEFONICA DEUTSCHLAND HOLDING AG
EQNR EQUINOR ASA
PROX PROXIMUS SA DE DROIT PUBLIC
GALP GALP ENERGIA SGPS SA CLASS B
KPN ROYAL KPN NV
ORA ORANGE SA
EN BOUYGUES SA
UTDI UNITED INTERNET AG
TNET TELENET GROUP HOLDING NV
GAMA GAMMA COMMUNICATIONS
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ENI ENI S.P.A.
BON BONDUELLE SCA
DTE DEUTSCHE TELEKOM AG
REP REPSOL SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
CTAC CTAC N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
TIT TELECOM ITALIA S.P.A.
GCO GRUPO CATALANA OCCIDENTE S.A.
SMHN SUESS MICROTEC AG
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
BP. BP P.L.C.
VOD VODAFONE GROUP PLC
STM STMICROELECTRONICS NV
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
NFN NFON AG
DRI 1&1 DRILLISCH AG
ALKAL KALRAY SA
JEN JENOPTIK AG
VK VALLOUREC SA
RWI RENEWI PLC
SHEL SHELL PLC
ARM ARM HOLDINGS PLC
- Charlotte Vaisse
FP TOTAL SE
AMS AMS AG
O2D TELEFONICA DEUTSCHLAND HOLDING AG
EQNR EQUINOR ASA
PROX PROXIMUS SA DE DROIT PUBLIC
GALP GALP ENERGIA SGPS SA CLASS B
KPN ROYAL KPN NV
ORA ORANGE SA
EN BOUYGUES SA
UTDI UNITED INTERNET AG
TNET TELENET GROUP HOLDING NV
GAMA GAMMA COMMUNICATIONS
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ENI ENI S.P.A.
BON BONDUELLE SCA
DTE DEUTSCHE TELEKOM AG
REP REPSOL SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
CTAC CTAC N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
TIT TELECOM ITALIA S.P.A.
GCO GRUPO CATALANA OCCIDENTE S.A.
SMHN SUESS MICROTEC AG
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
BP. BP P.L.C.
VOD VODAFONE GROUP PLC
STM STMICROELECTRONICS NV
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
NFN NFON AG
DRI 1&1 DRILLISCH AG
ALKAL KALRAY SA
JEN JENOPTIK AG
VK VALLOUREC SA
RWI RENEWI PLC
SHEL SHELL PLC
ARM ARM HOLDINGS PLC
- Bruno Cavalier
- Charlotte Vaisse
FP TOTAL SE
AC ACCOR SA
AMS AMS AG
SGO COMPAGNIE DE SAINT-GOBAIN SA
O2D TELEFONICA DEUTSCHLAND HOLDING AG
EQNR EQUINOR ASA
PROX PROXIMUS SA DE DROIT PUBLIC
GALP GALP ENERGIA SGPS SA CLASS B
MC LVMH MOET HENNESSY LOUIS VUITTON SE
KPN ROYAL KPN NV
ORA ORANGE SA
SK SEB SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EN BOUYGUES SA
MUV2 MUNICH REINSURANCE COMPANY
UTDI UNITED INTERNET AG
TNET TELENET GROUP HOLDING NV
EL ESSILORLUXOTTICA SA
GAMA GAMMA COMMUNICATIONS
BRBY BURBERRY GROUP PLC
KER KERING SA
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ENI ENI S.P.A.
VOW3 VOLKSWAGEN AG PREF
HEN3 HENKEL AG & CO. KGAA PREF
UCB UCB S.A.
DTE DEUTSCHE TELEKOM AG
01913 PRADA S.P.A.
REP REPSOL SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
EVK EVONIK INDUSTRIES AG
MONC MONCLER SPA
WAF SILTRONIC AG
MELE MELEXIS NV
TIT TELECOM ITALIA S.P.A.
PRY PRYSMIAN S.P.A.
SMHN SUESS MICROTEC AG
CFR COMPAGNIE FINANCIERE RICHEMONT SA
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
BP. BP P.L.C.
VOD VODAFONE GROUP PLC
STM STMICROELECTRONICS NV
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
NFN NFON AG
DRI 1&1 DRILLISCH AG
RMV RIGHTMOVE PLC
ALKAL KALRAY SA
JEN JENOPTIK AG
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
DTG DAIMLER TRUCK
SHEL SHELL PLC
ARM ARM HOLDINGS PLC
- Bruno Cavalier
- Charlotte Vaisse
FP TOTAL SE
AC ACCOR SA
AMS AMS AG
SGO COMPAGNIE DE SAINT-GOBAIN SA
O2D TELEFONICA DEUTSCHLAND HOLDING AG
EQNR EQUINOR ASA
PROX PROXIMUS SA DE DROIT PUBLIC
GALP GALP ENERGIA SGPS SA CLASS B
MC LVMH MOET HENNESSY LOUIS VUITTON SE
KPN ROYAL KPN NV
ORA ORANGE SA
SK SEB SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EN BOUYGUES SA
MUV2 MUNICH REINSURANCE COMPANY
UTDI UNITED INTERNET AG
TNET TELENET GROUP HOLDING NV
EL ESSILORLUXOTTICA SA
GAMA GAMMA COMMUNICATIONS
BRBY BURBERRY GROUP PLC
KER KERING SA
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ENI ENI S.P.A.
VOW3 VOLKSWAGEN AG PREF
HEN3 HENKEL AG & CO. KGAA PREF
UCB UCB S.A.
DTE DEUTSCHE TELEKOM AG
01913 PRADA S.P.A.
REP REPSOL SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
EVK EVONIK INDUSTRIES AG
MONC MONCLER SPA
WAF SILTRONIC AG
MELE MELEXIS NV
TIT TELECOM ITALIA S.P.A.
PRY PRYSMIAN S.P.A.
SMHN SUESS MICROTEC AG
CFR COMPAGNIE FINANCIERE RICHEMONT SA
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
BP. BP P.L.C.
VOD VODAFONE GROUP PLC
STM STMICROELECTRONICS NV
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
NFN NFON AG
DRI 1&1 DRILLISCH AG
RMV RIGHTMOVE PLC
ALKAL KALRAY SA
JEN JENOPTIK AG
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
DTG DAIMLER TRUCK
SHEL SHELL PLC
ARM ARM HOLDINGS PLC
- Martin Marandon-Carlhian
- Stephane Houri
ODDO : Continuing upturn in January, again driven by memory
>Worldwide sales in January 24 at +15.5% y-o-y vs +12.5% in December 23 - Worldwide semiconductor sales for January 2024 were published this weekend by WSTS (World Semiconductor Trade Statistics), with a month’s lag, as usual. As a three-month moving average, they came in at $ 47.6bn (in line with our forecast), or +15.5% y-o-y after 12.5% y-o-y in December. This gives a sequential decline of 2.1%. Continuing sharp improvement in memory segment, automotiv...
AMS AMS AG
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
ARM ARM HOLDINGS PLC
- Martin Marandon-Carlhian
- Stephane Houri
ODDO : Poursuite de la reprise en janvier, tiré de nouveau par la mémo...
>Ventes mondiales de janvier 24 à +15,5% yoy vs +12,5% en décembre 23 - Les ventes mondiales de semis de janvier 2024 ont été publiées ce week-end par la WSTS (World Semiconductor Trade Statistics), avec, comme toujours, un mois de décalage. En donnée lissées (moyenne mobile 3 mois), elles ressortent à 47.6 Md$ (en ligne avec notre prévision), soit +15,5% yoy après 12,5% yoy en décembre. Il s’agit aussi d’une baisse en séquentiel de 2,1%. Poursuite de la ...
AMS AMS AG
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
ARM ARM HOLDINGS PLC
- Research Team
The Rear-View Mirror – EME markets: February mostly green, despite det...
EME Equity Market – February 2024 Market performance – a positive February, with the Polish WIG20 outperforming. The MSCI EM Europe Index added 4.2% mom in EUR terms and 3.7% mom in USD in February. The Polish WIG20 saw the strongest performance, adding 6.4% mom in EUR terms, followed by the Greek ASE (+4.2% mom), the Turkish ISE30 (+4.0% mom) and the Romanian BET (+2.6% mom) (all in EUR terms). There was a relatively muted performance in Hungary (+0.6% mom in EUR terms) and a decline in the Cze...
PEO BANK POLSKA KASA OPIEKI SA
JMT JERONIMO MARTINS SGPS S.A.
KRU KRUK S.A.
MOL MOL NYRT
EBS ERSTE GROUP BANK AG
CEZ CEZ AS
HTO HELLENIC TELECOMMUNICATIONS ORGANIZATION SA
YKBNK YAPI VE KREDI BANKASI A.S.
OMV OMV AG
PKO PKO BANK POLSKI S.A.
ISCTR TURKIYE IS BANKASI ANONIM SIRKETI CLASS C
KOMB KOMERCNI BANKA A.S.
BHW BANK HANDLOWY W WARSZAWIE S.A.
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
VER VERBUND AG CLASS A
SPL SANTANDER BANK POLSKA SA
BSK ING BANK SLASKI S.A.
BDX BUDIMEX S.A.
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
TPS ORANGE POLSKA S.A.
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
LPP LPP S.A.
AKBNK AKBANK TAS
AKCNS AKCANSA CIMENTO
CIMSA CIMENTO SANYAI VE TICARET A.S.
LOGO LOGO YAZILIM SANAYI VE TICARET A.S.
CCC CCC SA
CCOLA COCA-COLA ICECEK A.S.
AUG1L AGROWILL GROUP AB
MGROS MIGROS TICARET A.S
APR AUTO PARTNER SA
LVC LIVECHAT SOFTWARE SA
TBCB TBC BANK JOINT STOCK CO
TPEIR PIRAEUS BANK SA
PPC PUBLIC POWER CORPORATION S.A.
CAR INTER CARS S.A.
ARCLK ARCELIK A.S.
EUR EUROCASH S.A.
GSPARK GRAPHISOFT PARK SE
GPW WARSAW STOCK EXCHANGE
11B 11 BIT STUDIOS S.A.
ALR ALIOR BANK SA
VGO VIGO SYSTEM SA
BANK OF CYPRUS PCL
WPL WIRTUALNA POLSKA HOLDING SA
BRD BRD-GROUPE SOCIETE GENERALE
TLV BANCA TRANSILVANIA S.A.
MONET MONETA MONEY BANK AS
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
SNP PETROM S.A.
PBK PATRIA BANK SA
TOFAS TOFAS TURK OTOMOBIL FABRIKASI A.S.
DIGI DIGI COMMUNICATIONS NV
SNN SOCIETATEA NATIONALA NUCLEARELECTRICA SA
TEL C.N.T.E.E. TRANSELECTRICA
ELSA SOCIETATEA ENERGETICA ELECTRICA
FP. FONDUL PROPRIETATEA S.A. GDR (REG S)
BVB S.C. BURSA DE VALORI BUCURESTI S.A.
GEB BANK OF GEORGIA
TGN SOCIETATEA NATIONALA DE TRANSPORT GAZE NATURALE TRANSGAZ S.A.
RICHT RICHTER
19XX NEPI ROCKCASTLE PLC
M MED LIFE
SFG SPHERA FRANCHISE GROUP SA
ADNOCDIST ADNOC DISTRIBUTION PJSC
EAT AMREST HOLDINGS SE
NLBR NLB GROUP
KAP NATIONAL ATOMIC COMPANY KAZATOMPROM
TEN TEN SQUARE GAMES
KSPI KASPI KZ
HUGE HUUUGE
4IG 4IG NYRT
IGN1L IGNITIS GRUPE
WPS W.A.G PAYMENT SOLUTIONS PLC
PCO PEPCO GROUP NV
ONE KAZMUNAYGAS NC JSC
KLKIM ONE UNITED PROPERTIES SA
ADNOCDRILL KALEKIM KIMYEVI MADDELER SANAYI VE TICARET AS
AROBS ADNOC DRILLING CO
7202 AROBS TRANSILVANIA SOFTWARE SA
ELPE ARABIAN INTERNET & COMMUNICATIONS SERVICES CO
SHO HELLENIQ ENERGY
4071 SHOPER SA
BOROUGE ARABIAN CONTRACTING SERVICES CO
H2O BOROUGE
AQ HIDROELECTRICA S.A.
AQUILA PART PROD COM
- Research Team
WOOD Daily: PBK RO; TL Macro; 4IG HB; AUG1L LH; ELPE GA; SFG RO; EAT P...
HEADLINES: • Patria Bank: strong bottom-line beat, but lacking quality • Turkey macro: 4Q GDP expands by 4% • 4iG: 4Q23 results review – solid results, with 19% yoy pro-forma EBITDA growth NEUTRAL • AUGA Group: 4Q23 – positive gross profit in all segments, but liquidity risk on the horizon • HELLENiQ Energy: 4Q23 results – dividend proposal NEUTRAL • Sphera Group: 4Q23 above our expectations POSITIVE • AmRest: key takeaways from the 4Q23 call POSITIVE • Richter: takeaways from the 4Q23 earnings ...
- Research Team
WOOD Daily: EBS AV; EAT PW; TXT PW; EL RO; WINE RO; AQ RO; SNN RO; TGN...
HEADLINES • Erste Bank: 4Q23 results • AmRest: 4Q23 EBITDA in line, but earnings affected by EUR 29m goodwill write-down for Sushi Shop NEGATIVE • Text: 3Q23-24 (calendar 4Q23) results – EBITDA down 4% yoy, 10% above the consensus POSITIVE • Electrica: 4Q23 results in line with expectations NEGATIVE • Purcari Wineries: 4Q23 results and 2024E outlook in line with expectations POSITIVE • Aquila Part Prod Com: earnings beat, on lower credit losses, interest income and tax rate POSITIVE • Nuclearel...
AKCNS AKCANSA CIMENTO
LVC LIVECHAT SOFTWARE SA
TLV BANCA TRANSILVANIA S.A.
SNN SOCIETATEA NATIONALA NUCLEARELECTRICA SA
ELSA SOCIETATEA ENERGETICA ELECTRICA
TGN SOCIETATEA NATIONALA DE TRANSPORT GAZE NATURALE TRANSGAZ S.A.
RICHT RICHTER
M MED LIFE
EAT AMREST HOLDINGS SE
IGN1L IGNITIS GRUPE
AROBS AROBS TRANSILVANIA SOFTWARE SA
4071 ARABIAN CONTRACTING SERVICES CO
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- Anthony Dick
- Michael Foundoukidis
- Anthony Dick
- Michael Foundoukidis
- Martin Marandon-Carlhian
- Stephane Houri
AT&S AG : Q3 2023-24 results in line, FY outlook reiterated, no mentio...
>Q3 2023-24 in line with previous communication on sales and EBITDA - This morning, AT&S reported its Q3 2023-24 results which were in line with previous communication (19 January profit warning). Sales were € 391m, slightly above the Visible Alpha consensus at € 381m and in line with previous communication of revenue of ~€ 1.2bn in 9M 2023-24 (i.e. €386m in Q3). Sales are thus down 7% y-o-y and 14% q-o-q. By business unit: 1/ in electronics solutions (which covers th...
- Martin Marandon-Carlhian
- Stephane Houri
AT&S AG : Q3 2023-24 results in line, FY outlook reiterated, no mentio...
>Q3 2023-24 in line with previous communication on sales and EBITDA - This morning, AT&S reported its Q3 2023-24 results which were in line with previous communication (19 January profit warning). Sales were € 391m, slightly above the Visible Alpha consensus at € 381m and in line with previous communication of revenue of ~€ 1.2bn in 9M 2023-24 (i.e. €386m in Q3). Sales are thus down 7% y-o-y and 14% q-o-q. By business unit: 1/ in electronics solutions (which covers th...
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