reports
- Nicolas David
BVI BUREAU VERITAS SA
SOP SOPRA STERIA GROUP SA
ATO ATOS SE
INF INFOTEL SA
ASY ASSYSTEM SA
SQI SQLI SA
SWP SWORD GROUP SE
ATE ALTEN SA
GRF GRIFOLS S.A. CLASS A
AIR AIRBUS SE
CAP CAPGEMINI SE
ENEL ENEL SPA
VRNL VERNEUIL PARTICIPATIONS
ORDI ORDINA N.V.
CTAC CTAC N.V.
TIETO TIETOEVRY OYJ
NEM NEMETSCHEK SE
COK CANCOM SE
BC8 BECHTLE AG
IBE IBERDROLA SA
SAN BANCO SANTANDER S.A.
IDR INDRA SISTEMAS S.A. CLASS A
GRF.P GRIFOLS S.A. PREF CLASS B
ECONT ECONOCOM GROUP SE CLASS D
REY REPLY S.P.A.
CCEP COCA-COLA EUROPEAN PARTNERS PLC
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
FQT FREQUENTIS AG WIENER
NA9 NAGARRO
EXN EXCLUSIVE NETWORKS SA
OVH OVH GROUPE
IOS IONOS GROUP SE
AGN AEGON N.V.
- Nicolas David
SOP SOPRA STERIA GROUP SA
ATO ATOS SE
BFIT BASIC-FIT NV
ALCLA CLASQUIN SA
INF INFOTEL SA
ASY ASSYSTEM SA
SQI SQLI SA
ALTR ALTRI SGPS SA
SWP SWORD GROUP SE
NRG NRJ GROUP SA
GBT GUERBET SA
ATE ALTEN SA
ERA ERAMET SA
CAP CAPGEMINI SE
FAE FAES FARMA S.A.
VRNL VERNEUIL PARTICIPATIONS
ORDI ORDINA N.V.
CTAC CTAC N.V.
TIETO TIETOEVRY OYJ
COK CANCOM SE
BC8 BECHTLE AG
PAT PATRIZIA AG
LFDE LA FRANCAISE DE L'ENERGIE SA
IDR INDRA SISTEMAS S.A. CLASS A
ECONT ECONOCOM GROUP SE CLASS D
REY REPLY S.P.A.
VOS VOSSLOH AG
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
FQT FREQUENTIS AG WIENER
NA9 NAGARRO
ECMPA EUROCOMMERCIAL PROPERTIES NV
EXN EXCLUSIVE NETWORKS SA
OVH OVH GROUPE
IOS IONOS GROUP SE
- Nicolas David
- Nicolas Thorez
ODDO : Accenture voit une reprise plus limitée qu’attendu pour son T3 ...
>Croissance T2 flat à cc, légèrement inférieure aux attentes - Accenture a publié hier avant l’ouverture de la Bourse US, ses résultats T2 2024 (trimestre clos à fin février). La croissance ressort flat y/y à cc, en ligne avec le milieu de fourchette de sa guidance (-2% à 2% y/y à cc) mais légèrement en-dessous des attentes (+0.7% y/y à cc). Il s'agit d'un nouveau ralentissement par rapport au T1 2024 (+1% à cc). Ce ralentissement est notamment lié au déclin des acti...
ATO ATOS SE
INF INFOTEL SA
ASY ASSYSTEM SA
SQI SQLI SA
SWP SWORD GROUP SE
ATE ALTEN SA
CAP CAPGEMINI SE
VRNL VERNEUIL PARTICIPATIONS
ORDI ORDINA N.V.
CTAC CTAC N.V.
TIETO TIETOEVRY OYJ
COK CANCOM SE
BC8 BECHTLE AG
IDR INDRA SISTEMAS S.A. CLASS A
ECONT ECONOCOM GROUP SE CLASS D
REY REPLY S.P.A.
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
FQT FREQUENTIS AG WIENER
NA9 NAGARRO
EXN EXCLUSIVE NETWORKS SA
OVH OVH GROUPE
IOS IONOS GROUP SE
- Nicolas David
BVI BUREAU VERITAS SA
SOP SOPRA STERIA GROUP SA
ATO ATOS SE
INF INFOTEL SA
ASY ASSYSTEM SA
SQI SQLI SA
SWP SWORD GROUP SE
ATE ALTEN SA
GRF GRIFOLS S.A. CLASS A
AIR AIRBUS SE
CAP CAPGEMINI SE
ENEL ENEL SPA
VRNL VERNEUIL PARTICIPATIONS
ORDI ORDINA N.V.
CTAC CTAC N.V.
TIETO TIETOEVRY OYJ
NEM NEMETSCHEK SE
COK CANCOM SE
BC8 BECHTLE AG
IBE IBERDROLA SA
SAN BANCO SANTANDER S.A.
IDR INDRA SISTEMAS S.A. CLASS A
GRF.P GRIFOLS S.A. PREF CLASS B
ECONT ECONOCOM GROUP SE CLASS D
REY REPLY S.P.A.
CCEP COCA-COLA EUROPEAN PARTNERS PLC
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
FQT FREQUENTIS AG WIENER
NA9 NAGARRO
EXN EXCLUSIVE NETWORKS SA
OVH OVH GROUPE
IOS IONOS GROUP SE
AGN AEGON N.V.
- Nicolas David
SOP SOPRA STERIA GROUP SA
ATO ATOS SE
BFIT BASIC-FIT NV
ALCLA CLASQUIN SA
INF INFOTEL SA
ASY ASSYSTEM SA
SQI SQLI SA
ALTR ALTRI SGPS SA
SWP SWORD GROUP SE
NRG NRJ GROUP SA
GBT GUERBET SA
ATE ALTEN SA
ERA ERAMET SA
CAP CAPGEMINI SE
FAE FAES FARMA S.A.
VRNL VERNEUIL PARTICIPATIONS
ORDI ORDINA N.V.
CTAC CTAC N.V.
TIETO TIETOEVRY OYJ
COK CANCOM SE
BC8 BECHTLE AG
PAT PATRIZIA AG
LFDE LA FRANCAISE DE L'ENERGIE SA
IDR INDRA SISTEMAS S.A. CLASS A
ECONT ECONOCOM GROUP SE CLASS D
REY REPLY S.P.A.
VOS VOSSLOH AG
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
FQT FREQUENTIS AG WIENER
NA9 NAGARRO
ECMPA EUROCOMMERCIAL PROPERTIES NV
EXN EXCLUSIVE NETWORKS SA
OVH OVH GROUPE
IOS IONOS GROUP SE
- Nicolas David
- Nicolas Thorez
ODDO : Accenture sees a more limited recovery than expected for its FY...
>Q2 growth flat at cc, a shade below forecasts - Yesterday before trading started on the US market, Accenture reported its Q2 2024 earnings (quarter to end-February). Growth was flat y-o-y at constant currency, in line with the middle of the guidance range (-2% to 2% y-o-y at cc) but a shade below forecasts (+0.7% y-o-y at cc). This was a fresh slowdown relative to Q1 2024 (+1% at cc). This slowdown is due notably to the downturn in the operations activities, with a ...
ATO ATOS SE
INF INFOTEL SA
ASY ASSYSTEM SA
SQI SQLI SA
SWP SWORD GROUP SE
ATE ALTEN SA
CAP CAPGEMINI SE
VRNL VERNEUIL PARTICIPATIONS
ORDI ORDINA N.V.
CTAC CTAC N.V.
TIETO TIETOEVRY OYJ
COK CANCOM SE
BC8 BECHTLE AG
IDR INDRA SISTEMAS S.A. CLASS A
ECONT ECONOCOM GROUP SE CLASS D
REY REPLY S.P.A.
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
FQT FREQUENTIS AG WIENER
NA9 NAGARRO
EXN EXCLUSIVE NETWORKS SA
OVH OVH GROUPE
IOS IONOS GROUP SE
Indra Sistemas S.A.: 1 director
A director at Indra Sistemas S.A. sold 2,378 shares at 18.250EUR 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 clea...
- Baptiste Lebacq
VIRP VIRBAC SA
MTU MANITOU BF SA
GLO GL EVENTS SA
BOSS HUGO BOSS AG
EBRO EBRO FOODS SA
BAYN BAYER AG
ELIS ELIS SA
CPINV CARE PROPERTY INVEST SA
SPIE SPIE SA
IDR INDRA SISTEMAS S.A. CLASS A
MAU ETABLISSEMENTS MAUREL & PROM SA
DUFN DUFRY AG
CGG CGG
NFN NFON AG
ANTIN ANTIN INFRASTRUCTURE PARTNERS
ALLFG ALLFUNDS (UK) LTD
CTPNV CTP NV
- Baptiste Lebacq
VIRP VIRBAC SA
MTU MANITOU BF SA
GLO GL EVENTS SA
BOSS HUGO BOSS AG
EBRO EBRO FOODS SA
BAYN BAYER AG
ELIS ELIS SA
CPINV CARE PROPERTY INVEST SA
SPIE SPIE SA
IDR INDRA SISTEMAS S.A. CLASS A
MAU ETABLISSEMENTS MAUREL & PROM SA
DUFN DUFRY AG
CGG CGG
NFN NFON AG
ANTIN ANTIN INFRASTRUCTURE PARTNERS
ALLFG ALLFUNDS (UK) LTD
CTPNV CTP NV
- Nicolas David
Indra Sistemas : A plan that promises strong upside… assuming proper p...
>Robust medium-term organic targets - At the presentation of the strategic plan, Indra’s management gave a detailed recap on the drivers supporting their 2024-2026 organic targets.- In terms of growth (average organic growth of 7% in the period), Indra’s management believe they have excellent visibility on the defence activities (average organic growth of 12% expected covered by the backlog and current pipeline) and ATM (11% average organic growth, 80% covered by...
- Nicolas David
Indra Sistemas : Un plan qui promet un fort upside… en cas de bon phas...
>Des objectifs moyen terme solides en organique - Lors de la présentation de son plan stratégique, le management d’Indra est revenu en détails sur les drivers soutenant ses objectifs 2024-26 organiques.- En termes de croissance (croissance org moyenne de 7% sur la période), le management d’Indra estime avoir une excellente visibilité sur ses activités Defense (croissance org moyenne de 12% attendue couverte par le backlog et le pipeline actuel) et ATM (11% de cro...
- Anis Zgaya
- Louis Boujard
- CFA
ODDO BHF Small & MIDCAP MORNING NEWS - 03/06/2024
We maintain our Outperform rating with an updated (DCF based) price target of €50.5 per share (was €46). The improved (and better than expected) EBITA margin in Building Technology in H2 versus H1 (despite a 3% volume decline) gives us confidence that even with the expected volume headwind in 2024, Aalberts will be able to maintain margins close to the 2023 level with upside if the recovery starts in the latter part of 2024. In Industrial Technology we think Aalberts is overly cautiou...
- Anis Zgaya
- Louis Boujard
- CFA
ODDO BHF Small & MIDCAP MORNING NEWS - 06/03/2024
We maintain our Outperform rating with an updated (DCF based) price target of €50.5 per share (was €46). The improved (and better than expected) EBITA margin in Building Technology in H2 versus H1 (despite a 3% volume decline) gives us confidence that even with the expected volume headwind in 2024, Aalberts will be able to maintain margins close to the 2023 level with upside if the recovery starts in the latter part of 2024. In Industrial Technology we think Aalberts is overly cautiou...
- Nicolas David
Indra Sistemas : A particularly comprehensive and ambitious 2024-2030 ...
>Consolidating the defence & aerospace ecosystem in Spain - This morning, Indra released a presentation ahead of its CMD to be held today at 10.00 a.m. The main strategic goal of this plan is to consolidate the Spanish defence & aerospace ecosystem in under 10 years around three main pillars: defence, ATM and space. The company will notably launch a newco dedicated to the space sector, with the aim of building an end-to-end offering (from manufacturing, to operat...
- Nicolas David
Indra Sistemas : A particularly comprehensive and ambitious 2024-2030 ...
>Consolidating the defence & aerospace ecosystem in Spain - This morning, Indra released a presentation ahead of its CMD to be held today at 10.00 a.m. The main strategic goal of this plan is to consolidate the Spanish defence & aerospace ecosystem in under 10 years around three main pillars: defence, ATM and space. The company will notably launch a newco dedicated to the space sector, with the aim of building an end-to-end offering (from manufacturing, to operat...
- Charlotte Vaisse
- Jean-Baptiste Rouphael
- Luis de Toledo Heras
AMS AMS AG
CO CASINO GUICHARD-PERRACHON SA
ATO ATOS SE
GTT GAZTRANSPORT & TECHNIGAZ SA
NXI NEXITY SA CLASS A
SBMO SBM OFFSHORE NV
MF WENDEL SE
KORI KORIAN SA
ITP INTERPARFUMS
G24 SCOUT24 AG
GLB GLANBIA PLC
VRNL VERNEUIL PARTICIPATIONS
SOC SUBSEA 7 S.A.
VID VIDRALA SA
AIXA AIXTRON SE
PAT PATRIZIA AG
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
FNTN FREENET AG
SLR SOLARIA ENERGIA Y MEDIO AMBIENTE S.A.
IDR INDRA SISTEMAS S.A. CLASS A
SMCP SMCP SA
BFSA BEFESA SA
S92 SMA SOLAR TECHNOLOGY AG
NEOEN NEOEN S.A.
GRE GRENERGY RENOVABLES
THEP THERMADOR HOLDING SA
DSC1 DUTCH STAR C SHAR
ZEL PHARMA MAR SA
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
SOL SOLTEC POWER HOLDINGS
TE TECHNIP ENERGIES NV
FUR FUGRO NV
EXN EXCLUSIVE NETWORKS SA
ALLFG ALLFUNDS (UK) LTD
EAPI EUROAPI
SPM SAIPEM S.P.A.
AF AIR FRANCE - KLM
SCHOTT PHARMA AG
- Charlotte Vaisse
- Jean-Baptiste Rouphael
- Luis de Toledo Heras
BMW BAYERISCHE MOTOREN WERKE AG
AMS AMS AG
CO CASINO GUICHARD-PERRACHON SA
RNO RENAULT SA
ATO ATOS SE
GTT GAZTRANSPORT & TECHNIGAZ SA
NXI NEXITY SA CLASS A
DAI DAIMLER AG
SBMO SBM OFFSHORE NV
MF WENDEL SE
KORI KORIAN SA
ITP INTERPARFUMS
G24 SCOUT24 AG
VOW3 VOLKSWAGEN AG PREF
GLB GLANBIA PLC
VRNL VERNEUIL PARTICIPATIONS
SOC SUBSEA 7 S.A.
VID VIDRALA SA
AIXA AIXTRON SE
PAT PATRIZIA AG
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
FNTN FREENET AG
SLR SOLARIA ENERGIA Y MEDIO AMBIENTE S.A.
IDR INDRA SISTEMAS S.A. CLASS A
SMCP SMCP SA
BFSA BEFESA SA
S92 SMA SOLAR TECHNOLOGY AG
NEOEN NEOEN S.A.
GRE GRENERGY RENOVABLES
THEP THERMADOR HOLDING SA
DSC1 DUTCH STAR C SHAR
ZEL PHARMA MAR SA
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
SOL SOLTEC POWER HOLDINGS
STLA STELLANTIS N.V.
TE TECHNIP ENERGIES NV
FUR FUGRO NV
EXN EXCLUSIVE NETWORKS SA
ALLFG ALLFUNDS (UK) LTD
EAPI EUROAPI
SPM SAIPEM S.P.A.
AF AIR FRANCE - KLM
SCHOTT PHARMA AG
- Nicolas David
Indra Sistemas : Excellent Q4 results. 2024 guidance well ahead of exp...
>Organic growth of 14% in Q4, well ahead of expectations - Indra’s Q4 sales, reported yesterday before trading, came to € 1.327bn, 8% ahead of the consensus and 3% better than our forecasts. Organic growth came in at +14%, 2pt ahead of our expectations (ODDO BHF: +11.6% org.), thanks to a much better than expected performance from Minsait ( +12% cc & org vs ODDO BHF: +5.5% org.), reflecting a marked acceleration vs Q3 (+6% org), driven notably by a recovery in outsou...
- Nicolas David
Indra Sistemas : Excellents résultats T4. Guidance 2024 très supérieur...
>Croissance org de 14% au T4, nettement supérieure aux attentes - Indra a publié hier avant Bourse un CA T4 de 1327 M€, 8% au-dessus du Css et 3% au-dessus denos attentes. La croissance org. ressort à +14%, 2pt au-dessus de nos attentes (ODDO BHF : +11.6% org.), grâce à une performance très supérieure aux attentes au niveau de Minsait ( +12% cc & org vs ODDO BHF : +5.5% org.) reflétant une nette accélération par rapport T3 (+6% org), notamment tirée par un rebon...
- Baptiste Salaville
- Nicolas David
Indra Sistemas : CMD to continue the positive sequence and re-rating
Indra should continue its positive sequence, with Q4 results and FY 2024 guidance set to be solid. The subsequent CMD will be an opportunity to set out new targets for 2024-2026 which we hope will beat the market’s cautious outlook. We also expect strategic announcements that could crystallise the value of some assets and/or reduce the factors underpinning the discount. We have raised our target price to € 21. Outperform rating reiterated. The stock joined our ODDO BHF European M...
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