reports
- Carole Braudeau
- Carole Braudeau
- Emira Sagaama
- Michael B. Schäfer
SOP SOPRA STERIA GROUP SA
TFI TELEVISION FRANCAISE 1 SA
VETO VETOQUINOL SA
LSS LECTRA SA
EBRO EBRO FOODS SA
MBB MBB INDUSTRIES SE
G24 SCOUT24 AG
ELIS ELIS SA
MAREL MAREL HF.
AIXA AIXTRON SE
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
ROYAL VOPAK NV
DLG DE'LONGHI S.P.A.
FDR FLUIDRA S.A.
MELE MELEXIS NV
SPIE SPIE SA
GLPG GALAPAGOS NV
IDR INDRA SISTEMAS S.A. CLASS A
UNI UNICAJA BANCO S.A.
DUFN DUFRY AG
RUI RUBIS SCA
ALD ALD SA
BFSA BEFESA SA
VOS VOSSLOH AG
WAVE WAVESTONE SA
CLA CLARANOVA SE
ZEL PHARMA MAR SA
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
TE TECHNIP ENERGIES NV
FPE3 FUCHS PETROLUB SE
STM STABILUS SE
FLOW FLOW TRADERS LTD
PLX PLUXEE NV
- Emira Sagaama
- Michael B. Schäfer
SOP SOPRA STERIA GROUP SA
TFI TELEVISION FRANCAISE 1 SA
VETO VETOQUINOL SA
LSS LECTRA SA
EBRO EBRO FOODS SA
MBB MBB INDUSTRIES SE
G24 SCOUT24 AG
ELIS ELIS SA
MAREL MAREL HF.
AIXA AIXTRON SE
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
ROYAL VOPAK NV
DLG DE'LONGHI S.P.A.
FDR FLUIDRA S.A.
MELE MELEXIS NV
SPIE SPIE SA
GLPG GALAPAGOS NV
IDR INDRA SISTEMAS S.A. CLASS A
UNI UNICAJA BANCO S.A.
DUFN DUFRY AG
RUI RUBIS SCA
ALD ALD SA
BFSA BEFESA SA
VOS VOSSLOH AG
WAVE WAVESTONE SA
CLA CLARANOVA SE
ZEL PHARMA MAR SA
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
TE TECHNIP ENERGIES NV
FPE3 FUCHS PETROLUB SE
STM STABILUS SE
FLOW FLOW TRADERS LTD
PLX PLUXEE NV
- Carole Braudeau
- Carole Braudeau
- Chaima Ferrandon
- Sven Edelfelt
Imerys : Countdown to the end of asbestos litigation finally begins
>Q3 EBITDA 6% higher than we expected - Imerys reported Q3 2024 EBITDA of € 148m (-13.9%) vs ODDO BHF estimate: € 140m (a 6% beat). TQC’s contribution came to € 5m in Q3, whereas we had expected zero. Q3 EBITDA was affected by the deconsolidation of paper (-€ 17m), a lower contribution from quartz (-€ 17m), and an increase in fixed costs (€ 21m) which were not offset by price effects (€ 4m), volumes (€ 15m) or the decrease in variable costs (€ 20m). The Q3 EBITDA marg...
- Chaima Ferrandon
- Sven Edelfelt
Imerys : Le compte à rebours de l’épilogue du litige amiante (enfin) l...
>EBITDA 6% supérieur à nos attentes au T3 - Imerys a publié un EBITDA T3 2024 à 148 M€ (-13.9%) vs ODDO BHF à 140 M€ (6% au-dessus). La contribution de TQC ressort à 5 M€ au T3, nous attendions zéro. Au T3, l’EBITDA a été impacté par la déconsolidation du papier (-17 M€), la moindre contribution du quartz (-17 M€), la hausse des coûts fixes (-21 M€), non compensé par les effets prix (4 M€), les effets volumes (15 M€) et la baisse des coûts variables (20 M€). La marge...
- Chaima Ferrandon
- Sven Edelfelt
Imerys : Towards an epilogue of asbestos litigation and get back to th...
28 October could mark a crucial step forward in the resolution of the asbestos litigation. The hearing set on this date at the Delaware court could lead to the launch of the plaintiffs’ vote on the reorganisation plan (agreement if 75% of plaintiffs vote in favour of the plan). We think that this vote is highly likely to materialise, notably with the integration of J&J into the plan (hearing of 8 October). The intrinsic valuation of the group’s assets (TQC, the Beauvoir/Saint-Aus...
- Chaima Ferrandon
- Sven Edelfelt
Imerys : Vers l’épilogue de l’amiante et le retour à l’essentiel
Le 28 octobre prochain pourrait marquer une avancée cruciale dans la résolution des litiges amiante. L’audience prévue pour cette date dans l’agenda du tribunal du Delaware pourrait conduire au lancement du vote des plaignants sur le plan de réorganisation (accord si 75% des plaignants votent le plan). Nous pensons que ce vote a de grandes chances d’aboutir avec l’intégration de J&J dans le plan (décision du 8 octobre dernier). La valorisation intrinsèque des actifs du groupe rev...
- Luis de Toledo Heras
ODDO BHF Small & MIDCAP MORNING NEWS - 10/10/2024
Burckhardt Compression is a leading global supplier of compression solutions with a unique product offering (full range of reciprocating compressor technologies and services). It targets profitable growth with a 2022-2027e sales CAGR of 7.7% and a 2022-2027e EBIT CAGR of 12.1%. These prospects seem adequately discounted at our TP of CHF 612 reflecting historical and peer multiples. We initiate the coverage with a Neutral rating. - ...
- Luis de Toledo Heras
ODDO BHF Small & MIDCAP MORNING NEWS - 10/10/2024
Burckhardt Compression is a leading global supplier of compression solutions with a unique product offering (full range of reciprocating compressor technologies and services). It targets profitable growth with a 2022-2027e sales CAGR of 7.7% and a 2022-2027e EBIT CAGR of 12.1%. These prospects seem adequately discounted at our TP of CHF 612 reflecting historical and peer multiples. We initiate the coverage with a Neutral rating. - ...
- Chaima Ferrandon
- Sven Edelfelt
Imerys : What is the light for if your eyes are closed
>Set for healthy Q3 2024 figures despite negative TQC impact - Q3 release on 30 October after trading. The group is set to report a fresh improvement in its sales volumes, in line with Q2. This improvement should be driven by a gradual recovery in end markets in Europe and market share gains in the US. We forecast volume sales growth of 2% in Q3 after 2.7% in Q2 and -3.4% in Q1 and a stable price effect after -0.6% in Q2 and -1.9% in Q1. The price/ cost differential i...
- Chaima Ferrandon
- Sven Edelfelt
Imerys : A quoi sert la lumière si on a les yeux fermés
>Un T3 2024 bien orienté malgré un TQC dépressif - Publication du T3 le 30 octobre prochain après Bourse. Le groupe devrait publier une nouvelle amélioration de ses volumes de ventes dans la continuité du T2. Cette amélioration s’explique par la reprise progressive des marchés finaux en Europe et des gains de parts de marché aux Etats-Unis. Nous tablons sur une hausse de l’activité en volume de 2% sur le T3 après 2.7% sur le T2 et -3.4% au T1 et un effet prix stable...
- Baptiste Salaville
- Charlotte Vaisse
- Olfa Taamallah
- Thomas Zlowodzki
- Yan Derocles
- Baptiste Salaville
- Charlotte Vaisse
- Olfa Taamallah
- Thomas Zlowodzki
- Yan Derocles
- Chaima Ferrandon
- Sven Edelfelt
Imerys : TQC is now front and centre, but for how long?
>Quartz mines ravaged by Hurricane Helene - TQC, a 50% subsidiary of Imerys, made an announcement yesterday to update on the situation in the aftermath of Hurricane Helene. The town of Spruce Pine is currently facing multiple issues of flooding, power cuts and communications. The region is in a dire situation. At this time, TQC has no visibility on starting back up again and is focusing its efforts on the health and safety of its employees and their families. Lik...
- Chaima Ferrandon
- Sven Edelfelt
Imerys : TQC désormais au centre du jeu mais pour combien de temps ?
>Les mines de quartz ravagés par l’ouragan Hélène - TQC filiale à 50% d’Imerys a publié un communiqué hier pour rendre compte de la situation après le passage de l’ouragan Hélène. La ville de Spruce Pine est actuellement confrontée à de multiples problèmes d'inondations, de coupures d'électricité et de communication. La situation est dramatique pour la région. TQC n’a aucune visibilité sur la date de leur redémarrage et concentre ses efforts sur la santé et la sé...
- 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.
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.