reports
- Ahmed Ben Salem
- Baptiste Lebacq
SCHP SECHE ENVIRONNEMENT
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
TKA THYSSENKRUPP AG
MT ARCELORMITTAL SA
BEKB BEKAERT SA
AAL ANGLO AMERICAN PLC
RNO RENAULT SA
APAML APERAM SA
OUT1V OUTOKUMPU OYJ
EO FAURECIA SA
SSAB A SSAB AB CLASS A
DAI DAIMLER AG
POM PLASTIC OMNIUM SE
SCR SCOR SE
SZG SALZGITTER AG
TYRES NOKIAN RENKAAT OYJ
EKI EKINOPS SA
MTU MANITOU BF SA
GLO GL EVENTS SA
VOE VOESTALPINE AG
ACX ACERINOX SA
FR VALEO SE
BON BONDUELLE SCA
SOLB SOLVAY SA
VOW3 VOLKSWAGEN AG PREF
ERA ERAMET SA
ELIS ELIS SA
TUB TUBACEX S.A.
NDA AURUBIS AG
PAL PALFINGER AG
CIE CIE AUTOMOTIVE S.A.
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
CPINV CARE PROPERTY INVEST SA
WAF SILTRONIC AG
ZAG ZUMTOBEL GROUP AG
ALR ALIOR BANK SA
SPIE SPIE SA
RACE FERRARI NV
COPN COSMO PHARMACEUTICALS NV
RIO RIO TINTO PLC
MAU ETABLISSEMENTS MAUREL & PROM SA
BHP BHP GROUP LTD
DUE DURR AG
PIRC PIRELLI & C. S.P.A.
AMAG AMAG AUSTRIA METALL AG
GEST GESTAMP AUTOMOCION S.A.
FQT FREQUENTIS AG WIENER
GRP GREENCOAT RENEWABLES
COP COMPUGROUP MEDICAL SE & CO. KGAA
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
STLA STELLANTIS N.V.
FUR FUGRO NV
EAPI EUROAPI
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
AF AIR FRANCE - KLM
ALIV SDB AUTOLIV INC.
BRE BREMBO S.P.A.
HAVAS HAVAS N.V
- Ahmed Ben Salem
- Baptiste Lebacq
SCHP SECHE ENVIRONNEMENT
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
TKA THYSSENKRUPP AG
MT ARCELORMITTAL SA
BEKB BEKAERT SA
AAL ANGLO AMERICAN PLC
RNO RENAULT SA
APAML APERAM SA
OUT1V OUTOKUMPU OYJ
EO FAURECIA SA
SSAB A SSAB AB CLASS A
DAI DAIMLER AG
POM PLASTIC OMNIUM SE
SCR SCOR SE
SZG SALZGITTER AG
TYRES NOKIAN RENKAAT OYJ
EKI EKINOPS SA
MTU MANITOU BF SA
GLO GL EVENTS SA
VOE VOESTALPINE AG
ACX ACERINOX SA
FR VALEO SE
BON BONDUELLE SCA
SOLB SOLVAY SA
VOW3 VOLKSWAGEN AG PREF
ERA ERAMET SA
ELIS ELIS SA
TUB TUBACEX S.A.
NDA AURUBIS AG
PAL PALFINGER AG
CIE CIE AUTOMOTIVE S.A.
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
CPINV CARE PROPERTY INVEST SA
WAF SILTRONIC AG
ZAG ZUMTOBEL GROUP AG
ALR ALIOR BANK SA
SPIE SPIE SA
RACE FERRARI NV
COPN COSMO PHARMACEUTICALS NV
RIO RIO TINTO PLC
MAU ETABLISSEMENTS MAUREL & PROM SA
BHP BHP GROUP LTD
DUE DURR AG
PIRC PIRELLI & C. S.P.A.
AMAG AMAG AUSTRIA METALL AG
GEST GESTAMP AUTOMOCION S.A.
FQT FREQUENTIS AG WIENER
GRP GREENCOAT RENEWABLES
COP COMPUGROUP MEDICAL SE & CO. KGAA
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
STLA STELLANTIS N.V.
FUR FUGRO NV
EAPI EUROAPI
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
AF AIR FRANCE - KLM
ALIV SDB AUTOLIV INC.
BRE BREMBO S.P.A.
HAVAS HAVAS N.V
- Amira Manai
- Gautier Le Bihan
- Antoine Lebourgeois
Ekinops: Cost discipline shields margins as growth recovery takes shap...
Despite topline softness (FY24 revenue down 9% yoy), Ekinops delivered an FY24 EBITDA margin of 15.3% (+90bps yoy), driven as expected by a favourable business mix effect on gross margin (54.8%, +270bps yoy) and stricter-than-expected cost discipline, with opex down 7% yoy. Looking ahead, 2025 is s
- Amira Manai
- Gautier Le Bihan
- Farid Bitari
- Nicolas David
- Sinan Doganli
FME FRESENIUS MEDICAL CARE AG
LHA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
TEMN TEMENOS AG
TKA THYSSENKRUPP AG
CBK COMMERZBANK AG
BIO BB BIOTECH AG
EKI EKINOPS SA
MRK MERCK KGAA
BAS BASF SE
BAYN BAYER AG
DTE DEUTSCHE TELEKOM AG
SY1 SYMRISE AG
KGX KION GROUP AG
ALFEN ALFEN NV
ALCUR ARCURE SA
SHA SCHAEFFLER AG
- Farid Bitari
- Nicolas David
- Sinan Doganli
FME FRESENIUS MEDICAL CARE AG
LHA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
TEMN TEMENOS AG
TKA THYSSENKRUPP AG
CBK COMMERZBANK AG
BIO BB BIOTECH AG
EKI EKINOPS SA
MRK MERCK KGAA
BAS BASF SE
BAYN BAYER AG
DTE DEUTSCHE TELEKOM AG
SY1 SYMRISE AG
KGX KION GROUP AG
ALFEN ALFEN NV
ALCUR ARCURE SA
SHA SCHAEFFLER AG
- Gautier Le Bihan
- Antoine Lebourgeois
Ekinops: pivotal 2025 in sight for recovery
Ekinops reported Q4 2024 revenues of EUR29.8m, down 2% yoy and down 2% qoq, missing expectations (EUR32.8m BGe, EUR32.9m css) as sequential softness continued within the EUR28–30m range persisting since Q3 2023. The 2025 outlook remains "cautiously optimistic", with anticipated growth in both the A
- Gautier Le Bihan
- Emmanuel Matot
- Marc Lavaud
- Emmanuel Matot
- Marc Lavaud
- Gautier Le Bihan
Ekinops : Ekinops turns in further growth sequentially
>Q3 revenues at € 30.4m, up 9% YoY and up 4% sequentially - Ekinops reported yesterday after market close Q3 revenues of € 30.4m, up 9% on a reported basis and 10% cc, slightly ahead of our expectations (ODDO BHF € 30.0m). Revenues were up 4% vs Q2 2024. Ekinops delivered further sequential growth in 2024. The company reported 9m revenues of € 87.9m, down 11% YoY. This was mainly due to a 34% YoY decline in Transport. In addition to a tough comparison base (Q3 2024 +...
- Gautier Le Bihan
Ekinops : Ekinops continue sa croissance en séquentiel
>CA T3 de 30.4 M€ en hausse de 9% y-o-y et en progression de 4% en séquentiel - Ekinops a publié hier après Bourse un CA T3 de 30.4 M€, en hausse de 9% en données publiées et de 10% à cc, légèrement supérieur à nos attentes (ODDO BHF 30.0 M€). Le CA est en progression de 4% par rapport au T2 2024. Ekinops continue donc sa croissance en séquentiel sur l’année 2024. La société affiche un CA sur 9 mois de 87.9 M€ en baisse de 11% y-o-y. Cela provient principalement de la...
- Antoine Lebourgeois
Ekinops: Cautious start to recovery in Optical Transport
Yesterday, Ekinops published Q3 revenues in line with our expectations, up +9% yoy and +4% qoq. The recovery continues in Access, notably supported by the French market, and is now coupled with tangible recovery in Optical Transport (+16% qoq). However, management comments suggest more caution rega
- Michael B. Schäfer
- Sinan Doganli
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 07/30/2024
With regard to our list of recommended stocks, i) we are adding: adidas, Merck KGaA, Santander, Technip FMC, Unilever and Vivendi , ii) we are maintaining ASMi, Atlas Copco, AXA, Deutsche Boerse, GSK, Holcim, Inditex, Lonza, Sodexo, RELX and Rolls-Royce, iii) we are removing: BASF, Nemetschek, Nestlé and TUI AG. - ...
- Michael B. Schäfer
- Sinan Doganli
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 30/07/2024
Au sein de notre liste de valeurs recommandées, i) nous faisons entrer : adidas, Merck KGaA, Santander, Technip FMC, Unilever et Vivendi, ii) nous maintenons ASMi, Atlas Copco, Axa, Deutsche Boerse, GSK, Holicm, Inditex, Lonza, Sodexo, RELX et Rolls-Royce, iii) nous faisons sortir : BASF, Nemetschek, Nestlé, TUI AG. - ...
NK IMERYS SA
ALDEL DELFINGEN INDUSTRY SA
EKI EKINOPS SA
MRN MERSEN SA
EBRO EBRO FOODS SA
COR CORTICEIRA AMORIM SGPS SA
IDR INDRA SISTEMAS S.A. CLASS A
SAE SHOP APOTHEKE EUROPE NV
DUFN DUFRY AG
GEST GESTAMP AUTOMOCION S.A.
THEP THERMADOR HOLDING SA
FPE3 FUCHS PETROLUB SE
ALLFG ALLFUNDS (UK) LTD
- Gautier Le Bihan
Ekinops : Excellent cost control in a challenging environment
>EBITDA margin at 14.3%, beating our expectations thanks to tight control over costs - Ekinops reported yesterday evening solid results, ahead of our expectations. Despite € 57.5m in revenues (previously published), down 19%, gross margin hit an all-time record at 56.1% (vs. 53.1% in the previously year). This is attributable mainly to a favourable business mix, with Access accounting for a larger share of revenues and Software and Services playing a growing role. Wh...
- Gautier Le Bihan
Ekinops : Une très bonne maitrise des couts dans un environnement comp...
>Une marge d’EBITDA de 14.3%, supérieure à nos attentes grâce à une très bonne maitrise des couts - Hier soir, Ekinops a publié des résultats solides supérieurs à nos attentes. Malgré un CA (déjà publié) de 57.5 M€, en baisse de 19%, le groupe affiche une marge brute à un niveau historique de 56.1% (vs. 53.1% en N-1). Cela principalement grâce à un mix activités favorable avec une participation plus importante de l’Accès dans le CA et un poids croissant de l’activité ...
- Antoine Lebourgeois
Ekinops: resilient profitability comes to the rescue in H1
Despite low revenues in Q1 and Q2 (already published), Ekinops delivered relatively resilient margins in H1 2024 with gross margin increasing by 300bps to 56.1%, and EBITDA margin, albeit down by 590bps to 14.3%, demonstrating controlled opex growth (+2.6% yoy, and -6% including D&A). The outlo
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