reports
Acerinox SA: 1 director
A director at Acerinox SA bought 11,111 shares at 8.870EUR and the significance rating of the trade was 60/100. 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 sh...
- Jean-François Granjon
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 10/30/2024
The outcome of the US presidential election hangs in the balance, but the momentum seems to be with Donald Trump since the beginning of October: the candidate is now in the lead in six of the seven swing states, has just overtaken Kamala Harris in the national vote while 63% of punters are tipping him to win. We recap in the present note on the European stocks to play or avoid in the event of Donald Trump's victory and have also listed European stocks with a production base in the US,...
ETL EUTELSAT COMMUNICATIONS SA
OUT1V OUTOKUMPU OYJ
ALCLA CLASQUIN SA
TYRES NOKIAN RENKAAT OYJ
ACX ACERINOX SA
TRI TRIGANO SA
NEX NEXANS SA
ROYAL VOPAK NV
MMT METROPOLE TELEVISION SA
CIE CIE AUTOMOTIVE S.A.
AED AEDIFICA SA
MCPHY MCPHY ENERGY SA
SHOT SCANDIC HOTELS GROUP
MELE MELEXIS NV
ENC ENCE ENERGIA Y CELULOSA SA
CSM CORBION NV
LFDE LA FRANCAISE DE L'ENERGIE SA
IBG IBERPAPEL GESTION S.A.
IDR INDRA SISTEMAS S.A. CLASS A
MVC METROVACESA SA
ANTIN ANTIN INFRASTRUCTURE PARTNERS
FPE3 FUCHS PETROLUB SE
ORP ORPEA
- Jean-François Granjon
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 30/10/2024
Le scrutin présidentiel US reste incertain, mais le momentum semble être du côté de Donald Trump depuis début octobre : le candidat est désormais en tête dans 6 des 7 swing states, vient de dépasser Kamala Harris dans le vote national et est donné gagnant à 63% chez les parieurs. Nous rappelons les valeurs européennes à privilégier ou à éviter en cas de victoire de Donald Trump, et avons également listé les valeurs européennes ayant une base de production aux US, par nature moins expo...
ETL EUTELSAT COMMUNICATIONS SA
OUT1V OUTOKUMPU OYJ
ALCLA CLASQUIN SA
TYRES NOKIAN RENKAAT OYJ
ACX ACERINOX SA
TRI TRIGANO SA
NEX NEXANS SA
ROYAL VOPAK NV
MMT METROPOLE TELEVISION SA
CIE CIE AUTOMOTIVE S.A.
AED AEDIFICA SA
MCPHY MCPHY ENERGY SA
SHOT SCANDIC HOTELS GROUP
MELE MELEXIS NV
ENC ENCE ENERGIA Y CELULOSA SA
CSM CORBION NV
LFDE LA FRANCAISE DE L'ENERGIE SA
IBG IBERPAPEL GESTION S.A.
IDR INDRA SISTEMAS S.A. CLASS A
MVC METROVACESA SA
ANTIN ANTIN INFRASTRUCTURE PARTNERS
FPE3 FUCHS PETROLUB SE
ORP ORPEA
- Emna Ben Bdira
- Maxime Kogge
Acerinox : Longer transition phase than planned but medium-term driver...
>Q3 results below expectations - Acerinox reported mixed Q3 results yesterday, including EBITDA of € 114m, down 10% vs Q2 while they had been initially guided to be stable. They were also 6% < consensus and 5% < ODDO BHF. This underperformance was shared by the two group divisions:Stainless Steel reported a 7% drop in EBITDA in € 86m, with a slide in shipments due to the weakening industrial environment in the US and Europe, compounded in the US by electoral unc...
- Emna Ben Bdira
- Maxime Kogge
Acerinox : Phase de transition plus longue que prévu mais les moteurs ...
>T3 globalement inférieur aux attentes - Acerinox a publié hier des résultats T3 mitigés avec un EBITDA de 114 M€ en repli de 10% vs T2 au lieu de la stabilité guidée à l’issue du T2 et 6% < consensus et 5% < ODDO BHF. Cette contreperformance est imputable aux deux divisions du groupe :Stainless Steel affiche un recul de 7% à 86 M€ avec la chute de ses volumes due à la dégradation de la conjoncture industrielle aux US et en Europe, aggravée aux US par l’incertit...
- Oscar Rodriguez
- Oscar Rodriguez
ACERINOX: RDOS. 3T’24 (ANÁLISIS BANCO SABADELL)
Rdos. 3T'24 vs 3T'23: Ventas: 1.307 M euros (-16,1% vs -15,9% BS(e) y -0,2% consenso); EBITDA: 114 M euros (-21,9% vs -17,1% BS(e) y -15,8% consenso); EBIT: 77 M euros (-23,8% vs -20,8% BS(e) y -17,8% consenso); BDI: 48 M euros (-31,4% vs -17,1% BS(e) y -15,7% consenso); Rdos. 9meses'24 vs 9meses'23: Ventas: 1.357 M euros (-7,1% vs -6,8% BS(e) y +9,9% consenso); EBITDA: 350 M euros (-42,3% vs -41,2% BS(e) y -40,9% consenso); EBIT: 232 M euros (-51,6% vs -50,9% BS(e) y -50,3% consenso); BDI: 162 ...
- Research Department
INFORME DIARIO 11 0CTUBRE + RDOS. EUROPA 3T’24 (ANÁLISIS BANCO SABADEL...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACERINOX, IBERDROLA, NATURGY, SACYR, SECTOR ELÉCTRICO. EUROPA: AIRBUS, PREVIOS RESULTADOS 3T’24, SANOFI. 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’24 que se publicarán en España y Europa en los próximos días. El Ibex corta su racha Las ventas se impusieron en Europa, sobre todo en el Ibex, que acumu...
- Research Department
IBERIAN DAILY 11 OCTOBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACERINOX, ELECTRICITY SECTOR, IBERDROLA, NATURGY, SACYR. The IBEX ends its streak Stock markets in Europe fell, especially the IBEX, which had seen gains in five straight sessions and closed yesterday as the worst performer in Europe. In the STOXX 600, most sectors (15/20) closed with losses, led by Industrials and Technology, with Energy and Insurance posting the biggest gains. In the euro zone, the ECB’s last meeting minutes warned that despite the fact that inflation has fallen...
- Nicolas David
ODDO : Iberian Forum – Day 1
We host our 4th ODDO BHF Iberian Forum on the 1st and 2nd of October 2024 virtually. In total, 63 companies will be presenting. In the following note, we provide some initial feedback of the company on day 1. - >Acciona (=) : Confidence in Non-energy business steady, Acciona Energía stake sparks intense scrutiny - Acciona Energia (=/-) : A trajectory beyond 2024 to be explained at the 9 months results - Acerinox (=/-): Softness persists in Europe and US - Amadeus (=/+): sol...
ACX ACERINOX SA
REP REPSOL SA
COR CORTICEIRA AMORIM SGPS SA
BKT BANKINTER SA
ANA ACCIONA SA
FDR FLUIDRA S.A.
AMS AMADEUS IT GROUP SA CLASS A
ENG ENAGAS SA
GCO GRUPO CATALANA OCCIDENTE S.A.
CABK CAIXABANK SA
IDR INDRA SISTEMAS S.A. CLASS A
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
CAF CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES S.A.
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
ENER GRUPO ECOENER S.A.
- Jerôme Bodin
IPS IPSOS
SOP SOPRA STERIA GROUP SA
ROG ROCHE HOLDING LTD
EO FAURECIA SA
NOVN NOVARTIS AG
CEN GROUPE CRIT SA
SDG SYNERGIE SA
MERY MERCIALYS SA
VIV VIVENDI SE
AUB AUBAY SA
NRG NRJ GROUP SA
FNAC FNAC DARTY SA
HOT HOCHTIEF AG
ACX ACERINOX SA
BAMNB KONINKLIJKE BAM GROEP NV
SAN SANOFI
ELIS ELIS SA
MAREL MAREL HF.
VASTN VASTNED RETAIL NV
VID VIDRALA SA
AIXA AIXTRON SE
ARCAD ARCADIS NV
ALVIV VISIATIV SA
AALB AALBERTS N.V.
CARM CARMILA SAS
LOG COMPANIA DE DISTRIBUCION INTEGRAL LOGISTA HOLDINGS S.A.
WAF SILTRONIC AG
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
ARG ARGAN SA
SIFG SIF HOLDING NV
ASS APPLUS SERVICES S.A.
VLTSA VOLTALIA
AZN ASTRAZENECA PLC
ECONT ECONOCOM GROUP SE CLASS D
BFSA BEFESA SA
PWG PRODWAYS GROUP SA
VOS VOSSLOH AG
WAVE WAVESTONE SA
S30 SOLUTIONS 30 SE
VRLA VERALLIA SAS
TCH TECHNICOLOR SA
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
FUR FUGRO NV
FORSE FORSEE POWER SA
MTRK MOTORK LTD
ALVGO VOGO SA
IVG IVECO GROUP
SPM SAIPEM S.P.A.
GSK GSK PLC
AF AIR FRANCE - KLM
NOVO B NOVO NORDISK A/S
- Jerôme Bodin
IPS IPSOS
SOP SOPRA STERIA GROUP SA
ROG ROCHE HOLDING LTD
EO FAURECIA SA
NOVN NOVARTIS AG
CEN GROUPE CRIT SA
SDG SYNERGIE SA
MERY MERCIALYS SA
VIV VIVENDI SE
AUB AUBAY SA
NRG NRJ GROUP SA
FNAC FNAC DARTY SA
HOT HOCHTIEF AG
ACX ACERINOX SA
BAMNB KONINKLIJKE BAM GROEP NV
SAN SANOFI
ELIS ELIS SA
MAREL MAREL HF.
VASTN VASTNED RETAIL NV
VID VIDRALA SA
AIXA AIXTRON SE
ARCAD ARCADIS NV
ALVIV VISIATIV SA
AALB AALBERTS N.V.
CARM CARMILA SAS
LOG COMPANIA DE DISTRIBUCION INTEGRAL LOGISTA HOLDINGS S.A.
WAF SILTRONIC AG
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
ARG ARGAN SA
SIFG SIF HOLDING NV
ASS APPLUS SERVICES S.A.
VLTSA VOLTALIA
AZN ASTRAZENECA PLC
ECONT ECONOCOM GROUP SE CLASS D
BFSA BEFESA SA
PWG PRODWAYS GROUP SA
VOS VOSSLOH AG
WAVE WAVESTONE SA
S30 SOLUTIONS 30 SE
VRLA VERALLIA SAS
TCH TECHNICOLOR SA
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
FUR FUGRO NV
FORSE FORSEE POWER SA
MTRK MOTORK LTD
ALVGO VOGO SA
IVG IVECO GROUP
SPM SAIPEM S.P.A.
GSK GSK PLC
AF AIR FRANCE - KLM
NOVO B NOVO NORDISK A/S
- Emna Ben Bdira
- Maxime Kogge
Acerinox : After a good Q2, Q3 to be a transition quarter but mid-term...
>The results came out solid and in line thanks to high performance alloys - Acerinox reported solid Q2 results yesterday morning (after market opening). They came out in line, with EBITDA of € 126m, up € 15m on Q1, despite a higher impact from the strikes in Spain (€ 28m vs. € 15m), with three months of production lost vs just two in Q1. The improvement was driven by the group’s two drivers, US subsidiary NAS, and high performance alloys division HPM, together with co...
- Emna Ben Bdira
- Maxime Kogge
Acerinox : Après un bon T2, vers un T3 de transition mais les solides ...
>Résultats T2 solides et en ligne grâce aux USA et aux alliages haute performance - Acerinox a publié hier matin (après ouverture) des résultats T2 solides et en ligne avec un EBITDA de 126 M€ en hausse de 15 M€ vs T1, ceci malgré un impact des grèves en Espagne plus élevé (28 M€ vs 15 M€) puisque 3 mois de production ont été perdus vs 2 au T1. L’amélioration a été drivée par les deux moteurs du groupe la filiale US NAS et l’activité d’alliages haute performance (HPM)...
- Oscar Rodriguez
ACERINOX: 2Q’24 RESULTS (ANÁLISIS BANCO SABADELL)
2Q’24 vs. 2Q’23: Sales: € 1.299 Bn (-25.3% vs. -19.9% BS(e) and -14.0% consensus); EBITDA: € 125 M (-47.0% vs. -45.3% BS(e) and -47.9% consensus); EBIT: € 84 M (-57.1% vs. -54.6% BS(e) and -58.7% consensus); Net Profit: € 62 M (-56.3% vs. -56.3% BS(e) and -60.6% consensus); 1H’24 vs. 1H’23: Sales: € 2.781 Bn (-21.0% vs. -18.3% BS(e) and -15.4% consensus); EBITDA: € 236 M (-48.9% vs. -48.1% BS(e) and -49.4% consensus); EBIT: € 155 M (-59.0% vs. -57.7% BS(e) and -59.8% consensus); Net Profit: € 11...
- Oscar Rodriguez
ACERINOX: RDOS. 2T’24 (ANÁLISIS BANCO SABADELL)
Rdos. 2T’24 vs 2T’23: Ventas: 1.299 M euros (-25,3% vs -19,9% BS(e) y -14,0% consenso); EBITDA: 125 M euros (-47,0% vs -45,3% BS(e) y -47,9% consenso); EBIT: 84 M euros (-57,1% vs -54,6% BS(e) y -58,7% consenso); BDI: 62 M euros (-56,3% vs -56,3% BS(e) y -60,6% consenso); Rdos. 1S’24 vs 1S’23: Ventas: 2.781 M euros (-21,0% vs -18,3% BS(e) y -15,4% consenso); EBITDA: 236 M euros (-48,9% vs -48,1% BS(e) y -49,4% consenso); EBIT: 155 M euros (-59,0% vs -57,7% BS(e) y -59,8% consenso); BDI: 114 M eu...
- Nicolas David
ODDO BHF Small & MIDCAP MORNING NEWS - 06/26/2024
Our conviction on the long-term growth potential and opportunities of generative AI is renewed. The enabler sectors (semiconductors, software and IT services) and those that provide the infrastructure (utilities, metals, capital goods and real estate) will be the primary beneficiaries, leading us to make certain target price changes. Among AI ‘user’ sectors (media, healthcare, automotive, banking and insurance, oil services, defence, aerospace and airlines), the effects will doubtless...
ATO ATOS SE
ACN ACCENTURE PLC CLASS A
INF INFOTEL SA
ASY ASSYSTEM SA
SQI SQLI SA
SWP SWORD GROUP SE
AUB AUBAY SA
ATE ALTEN SA
ACX ACERINOX SA
CAP CAPGEMINI SE
VRNL VERNEUIL PARTICIPATIONS
CTAC CTAC N.V.
TIETO TIETOEVRY OYJ
COK CANCOM SE
BC8 BECHTLE AG
ADN1 ADESSO AG
TWEKA TKH GROUP N.V. CERT
HBH HORNBACH HOLDING AG & CO. KGAA
IDR INDRA SISTEMAS S.A. CLASS A
ECONT ECONOCOM GROUP SE CLASS D
REY REPLY S.P.A.
ALFEN ALFEN NV
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
FQT FREQUENTIS AG WIENER
NA9 NAGARRO
EXN EXCLUSIVE NETWORKS SA
OVH OVH GROUPE
EBUS EBUSCO HLDG NV
IOS IONOS GROUP SE
- Baptiste Salaville
- Marc Lavaud
- Nicolas David
- Philippe Ourpatian
ODDO BHF Small & MIDCAP MORNING NEWS - 26/06/2024
Notre conviction sur le potentiel de croissance LT et d’opportunités de l’IA générative est renforcée. Les secteurs 'enablers' (semiconducteurs, software et IT services) et fournisseurs d’infrastructures (utilities, métaux, biens d'équipements et immobilier) en seront les premiers bénéficiaires, conduisant à certains changements d’OC. Parmi les secteurs ‘utilisateurs’ de l’IA (média, santé, automobile, banque et assurance, services pétroliers, défense, aéronautique et compagnies aérie...
ATO ATOS SE
ACN ACCENTURE PLC CLASS A
INF INFOTEL SA
ASY ASSYSTEM SA
SQI SQLI SA
SWP SWORD GROUP SE
AUB AUBAY SA
ATE ALTEN SA
ACX ACERINOX SA
CAP CAPGEMINI SE
VRNL VERNEUIL PARTICIPATIONS
CTAC CTAC N.V.
TIETO TIETOEVRY OYJ
COK CANCOM SE
BC8 BECHTLE AG
ADN1 ADESSO AG
TWEKA TKH GROUP N.V. CERT
HBH HORNBACH HOLDING AG & CO. KGAA
IDR INDRA SISTEMAS S.A. CLASS A
ECONT ECONOCOM GROUP SE CLASS D
REY REPLY S.P.A.
ALFEN ALFEN NV
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
FQT FREQUENTIS AG WIENER
NA9 NAGARRO
EXN EXCLUSIVE NETWORKS SA
OVH OVH GROUPE
EBUS EBUSCO HLDG NV
IOS IONOS GROUP SE
- Emna Ben Bdira
- Maxime Kogge
Acerinox : Q2 preview: guidance should be reached despite longer-than-...
>We slightly adjust our Q2 estimates due to the strike - We got an update from the company after the announcement on Friday of an end to the strike at its main Algesiras site in Spain. The strike, which began in February, seemed to be dragging on but the final negotiations overcame the reluctance of the last union in favour of continuing industrial action, which led employees to vote to go back to work. We understand that production could restart as of Friday even tho...
- Emna Ben Bdira
- Maxime Kogge
Acerinox : Preview T2 : la guidance devrait être atteinte malgré la gr...
>Nous ajustons légèrement nos prévisions T2 en raison de la grève - Nous avons fait le point avec la société après l’annonce vendredi de la fin de la grève sur le site principal d’Algesiras en Espagne. La grève qui avait démarré en février semblait enlisée mais les ultimes négociations ont permis de vaincre les réticences du dernier syndicat favorable à la poursuite du mouvement, ce qui a conduit les salariés à voter la reprise de l’activité. Nous comprenons que la pr...
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