We hosted our 29th ODDO BHF Forum in Lyon on 8 and 9 January 2026. In total, 220 companies presented over the two days. In the following note, we provide some initial feedback from the companies on Day 2, in addition to Day 1 feedback (Link to Day 1 feedback). Key positive companies were Corbion, DEME, Elia Group, Knorr Bremse, Sulzer, Séché Environnement, Fraport, Vallourec and TUI. More cautious companies were Arkema, Fastned, INWIT, Manitou, Roche Bobois, Téléperformance, and Colonial SFL. T...
Following the first autumn trade shows, Trigano's order book for 2026 looks promising, with double-digit growth. This would suggest 16% growth in the underlying operating profit in 2026 after a return to normalised dealer inventories in 2025, with revenue (published on 24/09/2025) down 6.8% and the operating margin (to be published on 26/11/2025) set to be down 330bp. 2025 is nonetheless set to benefit from excellent FCF generation (>€ 450m), which should beef up an already enviable balance shee...
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