reports
- Marc Lavaud
- Pierre Tegner
- Robert Jan Vos
AI AIR LIQUIDE SA
BN DANONE SA
RNO RENAULT SA
ADS ADIDAS AG
LI KLEPIERRE SA
RI PERNOD RICARD SA
HOT HOCHTIEF AG
AIR AIRBUS SE
CAP CAPGEMINI SE
REP REPSOL SA
TEC TECHNIPFMC PLC
MOL MOL HUNGARIAN OIL & GAS PLC CLASS A
SIK SIKA AG
KBX KNORR-BREMSE AG
FDJ LA FRANCAISE DES JEUX SA
TEN TENARIS S.A.
MICC MAGNUM ICE CREAM COMPANY N.V. (THE)
- Marc Lavaud
- Pierre Tegner
- Robert Jan Vos
AI AIR LIQUIDE SA
BN DANONE SA
RNO RENAULT SA
ADS ADIDAS AG
LI KLEPIERRE SA
RI PERNOD RICARD SA
HOT HOCHTIEF AG
AIR AIRBUS SE
CAP CAPGEMINI SE
REP REPSOL SA
TEC TECHNIPFMC PLC
MOL MOL HUNGARIAN OIL & GAS PLC CLASS A
SIK SIKA AG
KBX KNORR-BREMSE AG
FDJ LA FRANCAISE DES JEUX SA
TEN TENARIS S.A.
MICC MAGNUM ICE CREAM COMPANY N.V. (THE)
- Ana Arjona-Martinez
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Si Yong Ng
- Tanvi Arora
- Louis Boujard
- CFA
- Philippe Ourpatian
REL RELX PLC
CA CARREFOUR SA
BVI BUREAU VERITAS SA
ZURN ZURICH INSURANCE GROUP LTD
MF WENDEL SE
ALV ALLIANZ SE
KBC KBC GROUP N.V.
G ASSICURAZIONI GENERALI S.P.A.
BAYN BAYER AG
BA. BAE SYSTEMS PLC
GAS NATURGY ENERGY GROUP S.A.
ELI ELIA GROUP SA/NV
ASRNL ASR NEDERLAND NV
REC RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA S.P.A.
INX IMCD N.V.
AD KONINKLIJKE AHOLD DELHAIZE N.V.
IHG INTERCONTINENTAL HOTELS GROUP PLC
STMN STRAUMANN HOLDING AG
PUIG PUIG BRANDS
AMRZ AMRIZE AG
AENA AENA S.M.E. SA
- Louis Boujard
- CFA
- Philippe Ourpatian
REL RELX PLC
CA CARREFOUR SA
BVI BUREAU VERITAS SA
ZURN ZURICH INSURANCE GROUP LTD
MF WENDEL SE
ALV ALLIANZ SE
KBC KBC GROUP N.V.
G ASSICURAZIONI GENERALI S.P.A.
BAYN BAYER AG
BA. BAE SYSTEMS PLC
GAS NATURGY ENERGY GROUP S.A.
ELI ELIA GROUP SA/NV
ASRNL ASR NEDERLAND NV
REC RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA S.P.A.
INX IMCD N.V.
AD KONINKLIJKE AHOLD DELHAIZE N.V.
IHG INTERCONTINENTAL HOTELS GROUP PLC
STMN STRAUMANN HOLDING AG
PUIG PUIG BRANDS
AMRZ AMRIZE AG
AENA AENA S.M.E. SA
- Martial Descoutures
- Oussema Denguir
- Martial Descoutures
- Oussema Denguir
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Si Yong Ng
- Tanvi Arora
RECORDATI REPORTS STRONG PRELIMINARY FULL YEAR 2025 RESULTS: REVENUE ...
RECORDATI REPORTS STRONG PRELIMINARY FULL YEAR 2025 RESULTS: REVENUE +11.8%, EBITDA(1) +14.5%, ADJUSTED NET INCOME(2) +14.5% Consolidated net revenue of € 2,618.4 million for full year 2025, +11.8% or +8.3% on a like-for-like basis(3) at constant exchange rates (CER)EBITDA(1) of € 991.1 million, +14.5%, margin on net revenue of 37.8% Adjusted net income(2) of € 651.1 million, +14.5%, margin on net revenue of 24.9%Net income of € 443.6 million, +6.5% Free cash flow(4) of € 558.8 million, +€ 23.7 million reflecting strong EBITDA partially offset by U.S. inventory build-up, higher intere...
RECORDATI ANNUNCIA SOLIDI RISULTATI PRELIMINARI PER L’ESERCIZIO 2025: ...
RECORDATI ANNUNCIA SOLIDI RISULTATI PRELIMINARI PER L’ESERCIZIO 2025: RICAVI +11,8%, EBITDA(1) +14,5%, UTILE NETTO RETTIFICATO(2) +14,5%; Ricavi netti consolidati per l’esercizio 2025 pari a € 2.618,4 milioni, +11,8% o +8,3% a perimetro omogeneo(3) e a cambi costantiEBITDA(1) pari a € 991,1 milioni, +14,5%, con un’incidenza sui ricavi netti del 37,8%Utile netto rettificato(2) pari a € 651,1 milioni, +14,5% con un’incidenza sui ricavi netti del 24,9%Utile netto pari a € 443,6 milioni, +6,5%Free cash flow(4) pari a € 558,8 milioni, +€ 23,7 milioni, grazie a un solido EBITDA, compensato in pa...
- Maxime Kogge
ADP AEROPORTS DE PARIS SA
DGE DIAGEO PLC
RI PERNOD RICARD SA
RCO REMY COINTREAU SA
FHZN FLUGHAFEN ZURICH AG
ISP INTESA SANPAOLO S.P.A.
UCG UNICREDIT S.P.A.
NN NN GROUP N.V.
CLNX CELLNEX TELECOM S.A.
HLAG HAPAG-LLOYD AG
BHP BHP GROUP LTD
CCEP COCA-COLA EUROPEAN PARTNERS PLC
IHG INTERCONTINENTAL HOTELS GROUP PLC
CPR DAVIDE CAMPARI-MILANO N.V.
- Luis de Toledo Heras
VCT VICAT-CIMENTS VICAT SA
DKSH DKSH HOLDING AG
INEA FONCIERE INEA
NOEJ NORMA GROUP SE
ISP INTESA SANPAOLO S.P.A.
BON BONDUELLE SCA
SOLB SOLVAY SA
HEIJM HEIJMANS N.V. CERT
NDA
UCG AURUBIS AG
CON UNICREDIT S.P.A.
ENG CONZZETA AG
ALSN ENAGAS SA
TLV ALSO HOLDING AG
SANT BANCA TRANSILVANIA S.A.
ALFEN S&T AG
ALFEN NV
- Luis de Toledo Heras
DKSH DKSH HOLDING AG
INEA FONCIERE INEA
NOEJ NORMA GROUP SE
ISP INTESA SANPAOLO S.P.A.
BON BONDUELLE SCA
SOLB SOLVAY SA
HEIJM HEIJMANS N.V. CERT
NDA
UCG AURUBIS AG
CON UNICREDIT S.P.A.
ENG CONZZETA AG
ALSN ENAGAS SA
TLV ALSO HOLDING AG
SANT BANCA TRANSILVANIA S.A.
ALFEN S&T AG
ALFEN NV
- Maxime Kogge
ADP AEROPORTS DE PARIS SA
DGE DIAGEO PLC
RI PERNOD RICARD SA
RCO REMY COINTREAU SA
FHZN FLUGHAFEN ZURICH AG
ISP INTESA SANPAOLO S.P.A.
UCG UNICREDIT S.P.A.
NN NN GROUP N.V.
CLNX CELLNEX TELECOM S.A.
HLAG HAPAG-LLOYD AG
BHP BHP GROUP LTD
IHG INTERCONTINENTAL HOTELS GROUP PLC
CPR DAVIDE CAMPARI-MILANO N.V.
- Benoit Valleaux
- Steven Gould
- Benoit Valleaux
- Steven Gould
- Benoit Valleaux
- Steven Gould
Intesa Sanpaolo : New medium-term strategic plan: when 'continuity' ma...
The announcement in early February of the new medium-term strategic plan (2026-2029) bolstered our Outperform rating on ISP (TP raised to € 7.0 from € 6.4), one of our sector top picks. In short, when the strategy is right, continuity has its virtues! Although ISP is lagging behind the sector in terms of re-rating, its valuation remains attractive given its fundamentals and outlook (RoE +4pp to 18% by 2029e, total return of 12% vs 6% for the sector).
- Benoit Valleaux
- Steven Gould
Intesa Sanpaolo : Nouveau plan stratégique MT : quand la ‘continuité’ ...
L’annonce, début février, du nouveau plan stratégique MT (2026-29) a renforcé notre opinion Surperformance sur ISP (OC porté à 7.0 € vs 6.4 €), l’un de nos top picks sectoriels. En un mot, quand une stratégie est bonne, la continuité a des vertus ! Alors qu’ISP est à la traîne en termes de rerating vs secteur, la valorisation reste intéressante au regard des fondamentaux et des perspectives (RoE +4pp à 18% d’ici 2029e, total return de 12% vs 6% pour secteur).
- Johanna Jourdain
LUFTHANSA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
EDEN EDENRED SA
IPN IPSEN SA
PEO BANK POLSKA KASA OPIEKI SA
ADP AEROPORTS DE PARIS SA
RMS HERMES INTERNATIONAL SCA
DAI DAIMLER AG
OR L'OREAL SA
HAL HAL TRUST
EOAN E.ON SE
RWE RWE AG
SAF SAFRAN S.A.
CAP CAPGEMINI SE
HM B H&M HENNES & MAURITZ AB CLASS B
MOCORP METSO OUTOTEC OYJ
MAP MAPFRE SA
SIE SIEMENS AG
SHL SIEMENS HEALTHINEERS AG
NLBR NOVA LJUBLJANSKA BANKA DD LJUBLJANA
UN0 UNIPER SE
PLX PLUXEE NV
ULVR UNILEVER PLC
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