AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: High production at Z&G. Low risk exploration drilling in Austria to start in 4Q25/1Q26 – 2Q25 net production of 303 boe/d was higher than our expectations of ~270 boe/d following a 5 well intervention programme at the Zisterdorf and Gaiselberg fields in the Vienna Basin. The programme included (1) repair of subsurface equipment, (2) clean out of a down hole sand control (3) perfor...
Revisamos al alza de P.O. por mejores perspectivas sectoriales y AEDAS. SOBREPONDERAR. Hemos revisado un +15% nuestro P.O. hasta 19,3 euros/acc (potencial +14%) tras ajustar la valoración por (i) las buenas perspectivas sectoriales y su impacto en NEINOR en solitario, (ii) el impacto de la compra de AEDAS, donde a su vez también mejoramos su valor por las mejores perspectivas sectoriales y la ampliación de capital.
NEWS SUMMARY: ARCELOR MITTAL, ELECTRICITY SECTOR, FLUIDRA, MELIA, MERLIN PROPERTIES, NEINOR HOMES, REDEIA, VISCOFAN. 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 2Q’25 results to be released over the coming days in Spain. Growth resisting for now European stock markets ended with slight gains in view of the signs of resistance in the 2Q’25 GDP and ahead of the Fed meeting, w...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ARCELOR MITTAL, FLUIDRA, MELIA, MERLIN PROPERTIES, NEINOR HOMES, REDEIA, SECTOR ELÉCTRICO, VISCOFAN. EUROPA: AB INBEV, AIRBUS, BMW, ING GROEP, SANOFI, SAFRAN, SOCIETE GENERALE, VINCI. 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. 2T’25 que se publicarán en España y Europa en los próximos días. El crecimien...
2Q'25 vs. 2Q'24 Results Sales: € 2.41 Bn (+0.9% vs. +3.3% BS(e) and +3.8% consensus); EBITDA: € 346.0 M (-0.9% vs. +7.9% BS(e) and +9.2% consensus); EBIT: € 232.0 M (-41.9% vs. -34.3% BS(e) and -32.8% consensus); 1H'25 vs. 1H'24 Results Sales: € 4.469 Bn (+4.7% vs. +6.1% BS(e) and +6.3% consensus); EBITDA: € 655.0 M (+8.6% vs. +13.7% BS(e) and +14.4% consensus); EBIT: € 431.0 M (-21.8% vs. -16.3% BS(e) and -15.2% consensus); Net Profit: € 540.0 M;
Rdos. 2T'25 vs 2T'24: Ventas: 2.410 M euros (+0,9% vs +3,3% BS(e) y +3,8% consenso); EBITDA: 346,0 M euros (-0,9% vs +7,9% BS(e) y +9,2% consenso); EBIT: 232,0 M euros (-41,9% vs -34,3% BS(e) y -32,8% consenso). Rdos. 1S'25 vs 1S'24: Ventas: 4.469 M euros (+4,7% vs +6,1% BS(e) y +6,3% consenso); EBITDA: 655,0 M euros (+8,6% vs +13,7% BS(e) y +14,4% consenso); EBIT: 431,0 M euros (-21,8% vs -16,3% BS(e) y -15,2% consenso); BDI: 540,0 M euros (n/a vs n/a BS(e) y n/a consenso).
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAIXABANK, FERROVIAL, GRIFOLS, REDEIA, SACYR, SANTANDER, TALGO, TELEFÓNICA. EUROPA: ADIDAS, DANONE, KERING, L’ORÉAL, MERCEDES BENZ GROUP. 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. 2T’25 que se publicarán en España y Europa en los próximos días. Los resultados toman el relevo Recuperación marcada por el...
NEWS SUMMARY: CAIXABANK, FERROVIAL, GRIFOLS, REDEIA, SACYR, SANTANDER, TALGO, TELEFÓNICA. 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 2Q’25 results to be released over the coming days in Spain. Results take centre stage Recovery in Europe in a session marked by the results calendar and news on the trade negotiations of the US with China and the EU. In the STOXX 600, the ral...
Neinor Homes accelerates growth in 1H25 with 1,701# pre-sold (+45%), while reaffirms its FY25 targets Neinor reiterates its FY25 EBITDA target of €100-110mn, supported by enhanced visibility on yearly deliveries and best-in-class profitabilityCommercialization environment remains highly dynamic with 1,701# pre-sold in 1H25 (€579mn), a +45% year-on-year Successfully crystallized value of BTR portfolio as part of a broader asset rotation program with +€400mn in disposals since 2023Neinor’s disciplined investment strategy has combined scale and returns, deploying €1.8bn since 2023 while target...
AUCTUS PUBLICATIONS ________________________________________ New Zealand Energy (NZE CN)C; Target price of C$1.70 per share: Equity raise to progress Tariki gas storage – New Zealand Energy (NZE) has raised C$3 mm of new equity priced at C$0.18 per share. The proceeds of the raise will fund the desktop studies required to prepare the field development plan, derisking the gas storage project ahead of expected monetization within the next 12 months. It will also fund the repayment of the convertib...
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