reports
- Arancha Pineiro
INDITEX: 3Q’25 RESULTS (ANÁLISIS BANCO SABADELL)
3Q'25 vs. 3Q'24 Results Sales: € 9.814 Bn (+4.9% vs. +3.8% BS(e) and +3.8% consensus); EBIT: € 2.371 Bn (+11.2% vs. +4.1% BS(e) and +4.2% consensus); Net Profit: € 1.854 Bn (+9.6% vs. +3.2% BS(e) and +4.7% consensus); 9M'25 vs. 9M'24 Results Sales: € 28.171 Bn (+2.7% vs. +2.4% BS(e) and +2.4% consensus); EBIT: € 5.943 Bn (+4.8% vs. +2.1% BS(e) and +2.1% consensus); Net Profit: € 4.622 Bn (+3.9% vs. +1.4% BS(e) and +2.0% consensus);
- Research Department
INDITEX: RDOS. 3T’25 (ANÁLISIS BANCO SABADELL)
Rdos. 3T'25 vs 3T'24: Ventas: 9.814 M euros (+4,9% vs +3,8% BS(e) y +3,8% consenso); EBIT: 2.371 M euros (+11,2% vs +4,1% BS(e) y +4,2% consenso); BDI: 1.854 M euros (+9,6% vs +3,2% BS(e) y +4,7% consenso). Rdos. 9meses'25 vs 9meses'24: Ventas: 28.171 M euros (+2,7% vs +2,4% BS(e) y +2,4% consenso); EBIT: 5.943 M euros (+4,8% vs +2,1% BS(e) y +2,1% consenso); BDI: 4.622 M euros (+3,9% vs +1,4% BS(e) y +2,0% consenso).
- Research Department
IBERIAN DAILY 03 DECEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: INDITEX, INDRA. Calm returns to the markets European markets once again rose after Monday’s losses. In the STOXX 600, Banks and Insurance were the sectors rising the most, with Media and Food posting the biggest losses. On the macro side, in the euro zone November’s general inflation rose unexpectedly by +0.1% to 2.2% YoY, with the core figure remaining at 2.4%. October’s unemployment rate was disappointing, remaining at the 6.4% registered in September (raised from 6.3%). In Braz...
- Research Department
INFORME DIARIO 03 DICIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: INDITEX, INDRA. EUROPA: AIRBUS. Regresa la calma Los mercados europeos se volvieron a girar al alza después del retroceso del lunes. En el STOXX 600, Bancos y Seguros fueron los que más subieron frente a las mayores caídas de Media y Alimentación. Por el lado macro, en la Eurozona la inflación general de noviembre repuntó inesperadamente una décima hasta el 2,2% interanual con la subyacente reteniendo el 2,4% anterior. La tasa de desempleo de octub...
- Research Department
IBERIAN DAILY 02 DECEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: INDITEX, REPSOL, SANTANDER. December kicks off with losses Stock markets on both sides of the Atlantic started the week off with drops in a cautious session. The IBEX 35 ended its streak of five straight sessions of gains, while the geopolitical risk continues to rise after Trump ordered Venezuelan airspace be closed. In the STOXX 600, Household Goods and Basic Materials rose the most, with the biggest drops coming in Industrials and Financial Services. On the macro side, in Spain...
- Research Department
INFORME DIARIO 02 DICIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: INDITEX, REPSOL, SANTANDER. EUROPA: BAYER, L’ORÉAL. Diciembre arranca con caídas Las bolsas a ambos lados del Atlántico comenzaron la semana con descensos, en una jornada marcada por la cautela. El Ibex 35 interrumpió su racha de cinco sesiones consecutivas al alza mientras que el riesgo geopolítico sigue en aumento después de que D. Trump ordenara cerrar el espacio aéreo de Venezuela. En el STOXX 600, Hogar y R. Básicos fueron los que más subieron...
- Research Department
IBERIAN DAILY 28 NOVEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACCIONA ENERGÍA, ARCELORMITTAL, CAIXABANK, IAG, INDITEX, OHLA, SANTANDER. Stability for now In the absence of references from the US due to Thanksgiving, European stock markets traded within a narrow sideways range. In the STOXX 600, Autos and Financial Services were the best performers whereas Pharma, Technology and Basic Resources were the only sectors that ended with drops. On the macro side, in the euro zone, October’s M3 remained at 2.8% YoY, in line with expectations, wherea...
- Research Department
INFORME DIARIO 28 NOVIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA ENERGÍA, ARCELORMITTAL, CAIXABANK, IAG, INDITEX, OHLA, SANTANDER. Por el momento, estabilidad En una sesión sin referencias desde EE.UU., por la festividad de Acción de Gracias, las bolsas europeas se movieron en un rango lateral estrecho. En el STOXX 600, las ganancias fueron dirigidas por Autos, S. Financieros e Inmobiliario. En el lado contrario, sólo Farma, Tecnología y R. Básicos terminaron con caídas. Por el lado macro, en la Eurozo...
- Nadège Tillier
Enagas/Lower results but strong credit metrics
Enagás's financial results for the first nine months disappointed the equity market. The Spanish utility's EBITDA was down 12% but Enagás reiterated its year-end 2025 financial guidance. On the credit side, the company's credit ratios remained robust. Capital expenditure will increase substantially over the period 2025-30F, driven by hydrogen projects, in particular. At the same time, cash flow generation is expected to climb significantly as well. We changed our stance on Enagás from negative t...
- Louis Boujard
- CFA
- Philippe Ourpatian
- Roy Külter
LHA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
FP TOTAL SE
EDEN EDENRED SA
PEO BANK POLSKA KASA OPIEKI SA
EQNR EQUINOR ASA
MT ARCELORMITTAL SA
JMT JERONIMO MARTINS SGPS S.A.
BEKB BEKAERT SA
SU SCHNEIDER ELECTRIC SE
KNEBV KONE OYJ CLASS B
ADS ADIDAS AG
APAML APERAM SA
PUM PUMA SE
OUT1V OUTOKUMPU OYJ
SSAB A SSAB AB CLASS A
DAI DAIMLER AG
SZG SALZGITTER AG
WHA WERELDHAVE N.V.
KOMB KOMERCNI BANKA A.S.
VOE VOESTALPINE AG
ACX ACERINOX SA
REE RED ELECTRICA CORP. SA
ELE ENDESA S.A.
XIOR XIOR STUDENT HOUSING N.V.
CARL B CARLSBERG A/S CLASS B
AIR AIRBUS SE
VOW3 VOLKSWAGEN AG PREF
ERA ERAMET SA
AMP AMPLIFON S.P.A.
REP REPSOL SA
COFB COFINIMMO SA
NDA AURUBIS AG
ANA ACCIONA SA
GAS NATURGY ENERGY GROUP S.A.
ARCAD ARCADIS NV
VASTB VASTNED RETAIL BELGIUM NV
MONT MONTEA SCA
AED AEDIFICA SA
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
KGX KION GROUP AG
CPINV CARE PROPERTY INVEST SA
PRY PRYSMIAN S.P.A.
ANDR ANDRITZ AG
VGP VGP NV
CFR COMPAGNIE FINANCIERE RICHEMONT SA
INGA ING GROEP NV
SAN BANCO SANTANDER S.A.
ABI ANHEUSER-BUSCH INBEV SA/NV
RIO RIO TINTO PLC
BHP BHP GROUP LTD
ARGX ARGEN-X SE
AMAG AMAG AUSTRIA METALL AG
DWS DWS GROUP GMBH & CO. KGAA
CCEP COCA-COLA EUROPEAN PARTNERS PLC
NSI NSI N.V.
ADYEN ADYEN NV
SIGN SIG COMBIBLOC GROUP LTD
KBX KNORR-BREMSE AG
8TRA TRATON SE
CPR DAVIDE CAMPARI-MILANO N.V.
WDP WAREHOUSES DE PAUW SCA
VUL VULCAN ENERGY RESOURCES
STLA STELLANTIS N.V.
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
ECMPA EUROCOMMERCIAL PROPERTIES NV
CTPNV CTP NV
SHEL SHELL PLC
GSK GSK PLC
DSFIR KONINKLIJKE DSM N.V.
H2O HIDROELECTRICA S.A.
TEN TENARIS S.A.
AAL ANGLO AMERICAN PLC
- Louis Boujard
- CFA
- Philippe Ourpatian
- Roy Külter
LHA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
FP TOTAL SE
EDEN EDENRED SA
PEO BANK POLSKA KASA OPIEKI SA
EQNR EQUINOR ASA
MT ARCELORMITTAL SA
JMT JERONIMO MARTINS SGPS S.A.
BEKB BEKAERT SA
SU SCHNEIDER ELECTRIC SE
KNEBV KONE OYJ CLASS B
ADS ADIDAS AG
APAML APERAM SA
PUM PUMA SE
OUT1V OUTOKUMPU OYJ
SSAB A SSAB AB CLASS A
DAI DAIMLER AG
SZG SALZGITTER AG
WHA WERELDHAVE N.V.
KOMB KOMERCNI BANKA A.S.
VOE VOESTALPINE AG
ACX ACERINOX SA
REE RED ELECTRICA CORP. SA
ELE ENDESA S.A.
XIOR XIOR STUDENT HOUSING N.V.
CARL B CARLSBERG A/S CLASS B
AIR AIRBUS SE
VOW3 VOLKSWAGEN AG PREF
ERA ERAMET SA
AMP AMPLIFON S.P.A.
REP REPSOL SA
COFB COFINIMMO SA
NDA AURUBIS AG
ANA ACCIONA SA
GAS NATURGY ENERGY GROUP S.A.
ARCAD ARCADIS NV
VASTB VASTNED RETAIL BELGIUM NV
MONT MONTEA SCA
AED AEDIFICA SA
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
KGX KION GROUP AG
CPINV CARE PROPERTY INVEST SA
PRY PRYSMIAN S.P.A.
ANDR ANDRITZ AG
VGP VGP NV
CFR COMPAGNIE FINANCIERE RICHEMONT SA
INGA ING GROEP NV
SAN BANCO SANTANDER S.A.
ABI ANHEUSER-BUSCH INBEV SA/NV
RIO RIO TINTO PLC
BHP BHP GROUP LTD
ARGX ARGEN-X SE
AMAG AMAG AUSTRIA METALL AG
DWS DWS GROUP GMBH & CO. KGAA
CCEP COCA-COLA EUROPEAN PARTNERS PLC
NSI NSI N.V.
ADYEN ADYEN NV
SIGN SIG COMBIBLOC GROUP LTD
KBX KNORR-BREMSE AG
8TRA TRATON SE
CPR DAVIDE CAMPARI-MILANO N.V.
WDP WAREHOUSES DE PAUW SCA
VUL VULCAN ENERGY RESOURCES
STLA STELLANTIS N.V.
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
ECMPA EUROCOMMERCIAL PROPERTIES NV
CTPNV CTP NV
SHEL SHELL PLC
GSK GSK PLC
DSFIR KONINKLIJKE DSM N.V.
H2O HIDROELECTRICA S.A.
TEN TENARIS S.A.
AAL ANGLO AMERICAN PLC
- Andreas Riemann
Safran S.A.: 1 director
A director at Safran S.A. sold 456 shares at 305.000EUR and the significance rating of the trade was 61/100. 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 showi...
- Margaux van Oerle
- Oliver Metzger
- Wim Gille
DB1 DEUTSCHE BOERSE AG
BN DANONE SA
BNP BNP PARIBAS SA CLASS A
ADS ADIDAS AG
FORTUM FORTUM OYJ
DAI DAIMLER AG
OMV OMV AG
AMUN AMUNDI SA
PHIA KONINKLIJKE PHILIPS N.V.
ELE ENDESA S.A.
NXT NEXT PLC
BAS BASF SE
CAP CAPGEMINI SE
SY1 SYMRISE AG
SPL SANTANDER BANK POLSKA SA
ASM ASM INTERNATIONAL N.V.
MONC MONCLER SPA
IBE IBERDROLA SA
SNP PETROM S.A.
STM STMICROELECTRONICS NV
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
ADYEN ADYEN NV
8TRA TRATON SE
STMN STRAUMANN HOLDING AG
FER FERROVIAL SA
AENA AENA S.M.E. SA
TKMS TKMS AG & CO. KGAA
- Margaux van Oerle
- Oliver Metzger
- Wim Gille
DB1 DEUTSCHE BOERSE AG
BN DANONE SA
BNP BNP PARIBAS SA CLASS A
ADS ADIDAS AG
FORTUM FORTUM OYJ
DAI DAIMLER AG
OMV OMV AG
AMUN AMUNDI SA
PHIA KONINKLIJKE PHILIPS N.V.
ELE ENDESA S.A.
NXT NEXT PLC
BAS BASF SE
CAP CAPGEMINI SE
SY1 SYMRISE AG
SPL SANTANDER BANK POLSKA SA
ASM ASM INTERNATIONAL N.V.
MONC MONCLER SPA
IBE IBERDROLA SA
SNP PETROM S.A.
STM STMICROELECTRONICS NV
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
ADYEN ADYEN NV
8TRA TRATON SE
STMN STRAUMANN HOLDING AG
GSK GSK PLC
FER FERROVIAL SA
AENA AENA S.M.E. SA
TKMS TKMS AG & CO. KGAA
- Andreas Riemann
- Arancha Pineiro
ADIDAS AG: RDOS. 3T’25 (ANÁLISIS BANCO SABADELL)
Rdos. 3T'25 vs 3T'24: Ventas: 6.630 M euros (+3,0% vs +5,2% BS(e) y +4,3% consenso); EBIT: 736,0 M euros (+23,1% vs +16,5% BS(e) y +16,1% consenso); BDI: 482,0 M euros (+2,8% vs +7,6% BS(e) y +7,2% consenso). Rdos. 9meses'25 vs 9meses'24: Ventas: 18.735 M euros (+5,7% vs +6,6% BS(e) y +6,2% consenso); EBIT: 1.892 M euros (+93,1% vs +89,0% BS(e) y +88,8% consenso); BDI: 1.279 M euros (+54,3% vs +57,0% BS(e) y +56,8% consenso).
- Research Department
IBERIAN DAILY 29 OCTOBER + 3Q’25 RESULTS. HIGHLIGHTS AND REST OF PREVI...
NEWS SUMMARY: COLONIAL, ENAGÁS, ENCE, ENDESA, FERROVIAL, REDEIA, SANTANDER. 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 3Q’25 results to be released over the coming days in Spain. Ibex 35 above 16,080 Mixed bag on European stock markets with the “periphery” and the FTSE in positive numbers, compared to the core indices and the Swiss SMI in the red. In the STOXX 600, the big...
- Research Department
INFORME DIARIO 29 OCTUBRE + RDOS. ESPAÑA Y EUROPA 3T’25. IDEAS DESTACA...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ENAGAS, ENCE, ENDESA, FERROVIAL, INMOBILIARIA COLONIAL, REDEIA, SANTANDER. EUROPA: ADIDAS, MERCEDES, NOKIA. 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. 3T’25 que se publicarán en España y Europa en los próximos días. El Ibex 35 supera los 16.080 puntos Cierre mixto en las bolsas europeas con la “perife...
- Emira Sagaama
- Maissa Keskes
- Stephane Houri
AC ACCOR SA
DG VINCI SA
BVI BUREAU VERITAS SA
ADP AEROPORTS DE PARIS SA
RNO RENAULT SA
MTX MTU AERO ENGINES AG
ORA ORANGE SA
SK SEB SA
SW SODEXO SA
ALV ALLIANZ SE
NOKIA NOKIA OYJ
BEI BEIERSDORF AG
ENI ENI S.P.A.
SCHP SCHINDLER HOLDING AG PREF
SAN SANOFI
SAF SAFRAN S.A.
01913 PRADA S.P.A.
BKT BANKINTER SA
ASSA B ASSA ABLOY AB CLASS B
TEC TECHNIPFMC PLC
DHER DELIVERY HERO SE
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
SIK SIKA AG
HAG HENSOLDT AG
DSY DASSAULT SYSTEMES SA
ATCO A ATLAS COPCO AB
SGSN SGS SA
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