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Carole Braudeau
  • Carole Braudeau

Credit Morning 10/21/2025

SoftBank Group plans to issue hybrid bonds in EUR and in USD|Holcim signs an agreement to acquire German company Xella for € 1.85bn|OVHcloud: 2024/25 results in line, the revenue growth target for 2025/26 is disappointing|Convicted of complicity in abuses in Sudan, BNP Paribas will appeal|

Carole Braudeau
  • Carole Braudeau

Morning Crédit 21/10/2025

SoftBank Group compte émettre des obligations hybrides en EUR et en USD|Holcim signe un accord en vue d’acquérir la société allemande Xella pour 1.85 md EUR|OVH : résultats 2024/25 en ligne, l’objectif de croissance du CA en 2025/26 déçoit|Condamnée pour complicité dans des exactions au Soudan, BNP Paribas va faire appel|

Luis de Toledo Heras
  • Luis de Toledo Heras
Virginia Romero
  • Virginia Romero

ENAGÁS: 9M’25 RESULTS (ANÁLISIS BANCO SABADELL)

9M'25 vs. 9M'24 Results EBITDA: € 505.9 M (-11.7% vs. -12.0% BS(e) and -12.7% consensus); Net Profit: € 206.9 M (-11.4% vs. -13.5% BS(e) and -13.5% consensus);

Jan Frederik Slijkerman ... (+5)
  • Jan Frederik Slijkerman
  • Jeroen van den Broek
  • Jesse Norcross
  • Nadège Tillier
  • Timothy Rahill

Coffee, Croissants & Credit/Segro, Enagas

Utilities - Enagas' 9M25 results miss estimates – we are neutral

Virginia Romero
  • Virginia Romero

ENAGÁS: RDOS. 9MESES’25 (ANÁLISIS BANCO SABADELL)

Rdos. 9meses'25 vs 9meses'24: EBITDA: 505,9 M euros (-11,7% vs -12,0% BS(e) y -12,7% consenso); BDI: 206,9 M euros (-11,4% vs -13,5% BS(e) y -13,5% consenso);

Research Department
  • Research Department

IBERIAN DAILY 21 OCTOBER + 3Q’25 RESULTS. PREVIEWS (ANÁLISIS BANCO SAB...

NEWS SUMMARY: ENAGÁS, TELEFÓNICA, VIDRALA. 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’25 results to be released over the coming days in Spain. IBEX looking up at 16,000 points Following the strong session in Asia (Japan hit a new record high), the euphoria continued in Europe, which rose more than +1.3% thanks to the German DAX and the IBEX. In the STOXX 600, all the se...

Research Department
  • Research Department

INFORME DIARIO 21 OCTUBRE + RDOS. ESPAÑA Y EUROPA 3T’25. PREVIEWS (ANÁ...

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ENAGÁS, TELEFÓNICA, VIDRALA. EUROPA: BNP PARIBAS. 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’25 que se publicarán en España y Europa en los próximos días. El Ibex mira a los 16.000 puntos Tras la buena jornada asiática (Japón renovó sus máximos históricos), la euforia continuó en Europa, que subió ...

 PRESS RELEASE

Group BNP Paribas: FURTHER INFORMATION REGARDING SUDAN LITIGATION

Group BNP Paribas: FURTHER INFORMATION REGARDING SUDAN LITIGATION   FURTHER INFORMATION REGARDING SUDAN LITIGATION PRESS RELEASE Paris, 20 October 2025 BNP Paribas has very clearly stated its unwavering intention to appeal. There is no doubt whatsoever that the Bank will fight this case and use all recourses available to it.  We strongly believe this verdict should be overturned on appeal. We would like to also state that during the years the Bank operated, it did so in providing essential financial services to people and businesses in processing normal civil banking transactions. Ther...

 PRESS RELEASE

BNP Paribas SA : PRECISIONS SUR LE LITIGE SOUDAN

BNP Paribas SA : PRECISIONS SUR LE LITIGE SOUDAN   PRECISIONS SUR LE LITIGE SOUDAN COMMUNIQUE DE PRESSE Paris, le 20 octobre 2025 BNP Paribas a très clairement exprimé sa ferme intention de faire appel. Il ne fait aucun doute que la Banque défendra ce dossier et utilisera tous les recours à sa disposition. Nous croyons fermement que ce verdict doit être annulé en appel. Nous tenons également à préciser que, pendant les années où la Banque a exercé ces activités, elle l’a fait en fournissant des services financiers essentiels aux particuliers et aux entreprises dans le cadre d’opér...

 PRESS RELEASE

BNP Paribas Group: Statement on Sudan litigation

BNP Paribas Group: Statement on Sudan litigation BNP PARIBAS STATEMENT ON SUDAN LITIGATION PRESS RELEASE Paris, 20 October 2025 BNP Paribas has very clearly stated its unwavering intention to appeal. There is no doubt whatsoever that the Bank will fight this case and use all recourses available to it.   We strongly believe this verdict should be overturned on appeal. Once again, BNP Paribas reaffirms that this result is clearly wrong and ignores important evidence the bank was not permitted to introduce. We are going to pursue all available avenues to contest this judg...

 PRESS RELEASE

Groupe BNP Paribas : Déclaration sur le litige au Soudan

Groupe BNP Paribas : Déclaration sur le litige au Soudan   DECLARATION DE BNP PARIBAS SUR LE LITIGE AU SOUDAN COMMUNIQUE DE PRESSE Paris, le 20 octobre 2025 BNP Paribas a très clairement exprimé sa ferme intention de faire appel. Il ne fait aucun doute que la Banque défendra cette affaire et utilisera tous les recours à sa disposition. Nous croyons fermement que ce verdict doit être annulé en appel. Une fois de plus, BNP Paribas réaffirme que ce résultat est manifestement erroné et ignore des éléments de preuve importants que la banque n’a pas été autorisée à présen...

Javier Esteban
  • Javier Esteban

BNP PARIBAS: RESPONSABLE DE DELITOS EN SUDAN (ANÁLISIS BANCO SABADELL)

Según prensa, BNP habría sido declarado civilmente responsable por su papel en facilitar entre 2002-2008 infraestructura financiera clave

Carole Braudeau
  • Carole Braudeau

Credit Morning 10/20/2025

Kering announces the sale of Kering Beauté to L'Oréal for € 4bn. Coty is expected to lose the Gucci licence when it expires.|Iliad: upgrade still a possibility at S&P despite the joint offer on Altice France|

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