ODDO BHF Small & MIDCAP MORNING NEWS – 11/29/2024

ODDO BHF Small & MIDCAP MORNING NEWS – 29/11/2024

NORMA Group SE : Portfolio Management to trigger a re-rating of the sh...

Benelux Morning Notes

Ageas: Circling around Direct Line, Aviva edges ahead. D'Ieteren: TVH distribution footprint restructured in Belgium. Dutch insurance - Achmea Life JV with PE firm, aiming to take 20% of Dutch buyouts. Elia: FY24 guidance up. Prosus: 1H25 Preview. Renewi: Macquarie is back. Sif Group: First monopile rolls out of new factory

FlatexDEGIRO : Chairman of the supervisory board to leave in 2025

Laurent-Perrier : Largely unsurprising H1 2024-25 results, down in cha...

Solvay : Still not expensive despite no material market improvements

Laurent-Perrier : Sans grandes surprises les résultats S1 2024/25 sont...

Ence : Rebasing pulp price and cost expectations to a tougher reality,...

Renewi : New Macquarie offer of 870p certainly not a blow-out offer

Compagnie des Alpes : Conditions ripe for rerating

Ahead of the publication of CDA’s FY 2023-24 results on 3 December, we are maintaining our Outperform rating on the stock. CDA is expected to announce a new medium-term capex roadmap with a commitment to generate FCF in the future, as revenue and margin growth is set to remain buoyant in 2025. CDA should remain active on the M&A front to step up its transition to a business model less dependent on ski lifts (now a minority in the mix) and less capital-intensive. These factors combined could revi...

Hugo Boss : CEO communication led to preliminary examination

Compagnie des Alpes : Les conditions réunies pour enclencher un rerati...

En amont de la publication des résultats FY 2023/24, le 3 décembre, nous réitérons notre opinion Surperformance. Alors que la croissance du CA et des marges restera dynamique en 2025, CDA devrait annoncer une nouvelle feuille de route MT sur les Capex qui lui permettra de s’engager à générer du FCF, à l’avenir. CDA restera actif en matière de M&A afin d’accélérer son développement vers un modèle moins dépendant des remontées mécaniques (désormais minoritaires dans le mix) et moins intensif en ca...

Solvay/Post 3Q24 sell-off looks overdone/BUY

Solvay's 3Q24 results were ahead of expectations with the company raising its guidance towards the top end of the range, admittedly due to a beat on the corporate line. Perceived as a low-quality beat, Solvay's shares sold off by up to 20% post-event. As both the valuation and FY25F consensus now seem undemanding, we remain comfortable with our BUY recommendation and we slightly raise our target price to €35/share from €34/share previously, offering c.21% upside including a dividend yield of c.8...

Solvay SA: 1 director

A director at Solvay SA bought 1,000 shares at 30.610EUR and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly show...

CAF: 9M’24 RESULTS (ANÁLISIS BANCO SABADELL)

3Q'24 vs. 3Q'23 Results Sales: € 838.0 M (-2.3% vs. +9.7% BS(e) and +11.3% consensus); EBIT: € 35.0 M (-18.6% vs. +16.7% BS(e) and +16.3% consensus); Net Profit: € 9.0 M (-52.6% vs. +47.4% BS(e) and +36.8% consensus); 9M'24 vs. 9M'23 Results Sales: € 2.918 Bn (+6.7% vs. +10.5% BS(e) and +11.0% consensus); EBIT: € 137.0 M (+7.0% vs. +18.9% BS(e) and +18.8% consensus); Net Profit: € 61.0 M (+15.1% vs. +50.9% BS(e) and +47.2% consensus);