reports
Duerr AG : 1 director
A director at Duerr AG bought 2,500 shares at 20.100EUR and the significance rating of the trade was 55/100. 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 show...
- Manuel Martin
- CEFA
- CREA
- Manuel Martin
- CEFA
- CREA
- Fabian Semon
DÜRR AG : Reviewing strategic options for its CTS division (excl. batt...
>CTS division (excl. battery business) may yield an EV of ~€ 280m, helping to bring down net debt/EBITDA after BBS acquisition - Dürr is reviewing strategic options (including a sale) for the air pollution control technology and noise abatement systems business units, which are part of the Clean Technology Systems (CTS) division. These activities generated FY 23 sales of ~€ 430m. No strategic options are being reviewed for the battery production technology business, w...
- Nicolas David
BEKB BEKAERT SA
IPH INNATE PHARMA SA CLASS A
HOT HOCHTIEF AG
CFEB COMPAGNIE D'ENTREPRISES CFE SA
INH INDUS HOLDING AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
TEG TAG IMMOBILIEN AG
COK CANCOM SE
AALB AALBERTS N.V.
COL INMOBILIARIA COLONIAL SOCIMI SA
MEL MELIA HOTELS INTERNATIONAL S.A.
ALM ALMIRALL SA
DUE DURR AG
BSGR B&S GROUP S.A.
S30 SOLUTIONS 30 SE
NA9 NAGARRO
HGEA HGEARS AG
FORSE FORSEE POWER SA
DEME DEME GROUP NV
- Nicolas David
BEKB BEKAERT SA
IPH INNATE PHARMA SA CLASS A
HOT HOCHTIEF AG
CFEB COMPAGNIE D'ENTREPRISES CFE SA
INH INDUS HOLDING AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
TEG TAG IMMOBILIEN AG
COK CANCOM SE
AALB AALBERTS N.V.
COL INMOBILIARIA COLONIAL SOCIMI SA
MEL MELIA HOTELS INTERNATIONAL S.A.
ALM ALMIRALL SA
DUE DURR AG
BSGR B&S GROUP S.A.
S30 SOLUTIONS 30 SE
NA9 NAGARRO
HGEA HGEARS AG
FORSE FORSEE POWER SA
DEME DEME GROUP NV
- Fabian Semon
DÜRR AG : Good start to the year (adj. EBIT +15% vs cons), Homag margi...
>Homag weakness was compensated by other segments, first Mercedes-Benz order was placed as expected (~€ 450m order intake) - Order intake of Dürr increased by 2% y-o-y to € 1,489m in Q1 2024, which is 2% above (company collected-) consensus estimate of € 1,462m and primarily fuelled by the first paintshop deal with Mercedes-Benz (size of ~€ 450m o/w ~€ 100m in APT). Order intake at Homag continued the stable trend (+7% y-o-y to € 377m & b-t-b >1.0x), as the project bu...
- Steven Boumans
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 02/27/2024
The start of the earnings season has halted EPS erosion, which was marked in Europe and more limited in the US. In 2024, EPS should grow twice as fast on the S&P 500 (+10%) vs the Stoxx 600 (+5%). In Europe, the fastest-growing sectors are travel & leisure, banks and industrials. - ...
- Steven Boumans
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 27/02/2024
L’ouverture de la saison des résultats a mis fin à l’érosion des BPA, qui était forte en Europe et plus limitée aux Etats-Unis. Les BPA devraient ainsi croître en 2024 deux fois plus vite sur le S&P 500 (+10%) que le sur le Stoxx 600 (+5%). En Europe, les secteurs ayant la meilleure dynamique sont le Travel & Leisure, les Banques et l’Industrie. - ...
- Fabian Semon
DÜRR AG : Q4 adj. EBIT 7% below css due to PFS, Homag with strong orde...
>Rather soft Q4, strong Homag due to two large orders (were initially postponed), no typical provision relief in PFS in Q4 (adj. EBIT margin -3.4pp y-o-y) - Dürr released preliminary Q4 23 results this morning. Order intake increased by 2% y-o-y to € 1,106m in Q4 23, which is 2% below (company collected-) the consensus estimate of € 1,133m, as PFS disappointed with a contribution of only € 210m (down 36% y-o-y), while the pipeline was already well stocked in H1 23 (...
- Jean-Baptiste Rouphael
- Jean-François Granjon
- Thijs Berkelder
- Thijs Berkelder
- Fabian Semon
DÜRR AG : Feedback Analyst Day - Homag = no short-term fix, EBIT margi...
>Homag - Not that much to add after recent profit warning = no short-term fix - Management still targets 10% adj. EBIT margin in a 'normal market environment', also fuelled by catch-up potential on the service side (target: +4pp to 25% of sales) with 60% gross margin, i.e. 1pp higher service share = 25-30bp higher adj. EBIT margin. Why has the company waited so long to provide clarity? In general, customers are more reluctant to place orders ahead of the LIGNA (trade ...
- Baptiste Salaville
- Jean-Baptiste Rouphael
- Marc Lavaud
- Melek Laabidi
- Stephane Houri
VCT VICAT-CIMENTS VICAT SA
TNG TRANSGENE SA
ALCLA CLASQUIN SA
WHA WERELDHAVE N.V.
LNA LNA SANTE SA
JCQ JACQUET METALS SA
HOT HOCHTIEF AG
ALTA ALTAREA SCA
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
BON BONDUELLE SCA
BRE BREMBO S.P.A.
PAT PATRIZIA AG
TWEKA TKH GROUP N.V. CERT
ARG ARGAN SA
DIC DIC ASSET AG
ALVAL VALBIOTIS SA
RUI RUBIS SCA
DUE DURR AG
GEST GESTAMP AUTOMOCION S.A.
AEIN ALLGEIER HOLDING AG
VRLA VERALLIA SAS
KTA KNAUS TABBERT
AG1 AUTO1 GROUP
SYAB SYNLAB AG
HGEA HGEARS AG
- Baptiste Salaville
- Jean-Baptiste Rouphael
- Marc Lavaud
- Melek Laabidi
- Stephane Houri
VCT VICAT-CIMENTS VICAT SA
TNG TRANSGENE SA
ALCLA CLASQUIN SA
WHA WERELDHAVE N.V.
LNA LNA SANTE SA
JCQ JACQUET METALS SA
HOT HOCHTIEF AG
ALTA ALTAREA SCA
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
BON BONDUELLE SCA
BRE BREMBO S.P.A.
PAT PATRIZIA AG
TWEKA TKH GROUP N.V. CERT
ARG ARGAN SA
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
DIC DIC ASSET AG
ALVAL VALBIOTIS SA
RUI RUBIS SCA
DUE DURR AG
GEST GESTAMP AUTOMOCION S.A.
WOLF SOCIETE LDC SOCIETE ANONYME
AEIN ALLGEIER HOLDING AG
VRLA VERALLIA SAS
KTA KNAUS TABBERT
AG1 AUTO1 GROUP
SYAB SYNLAB AG
HGEA HGEARS AG
- Fabian Semon
DÜRR AG : Mixed Q3 results (adj. EBIT +6%/ order intake -6% vs cons.),...
>Announced restructuring plan for Homag shaves off 13%-19% of 2023 EPS - Dürr released final Q3 2023 results encompassing adj. EBIT margin of 7.1% (+140bp y-o-y/adj. EBIT 6% above consensus) and order intake decline of 30% y-o-y to € 922m (-6% vs. css), primarily fuelled by PFS with -46% y-o-y (timing effect after € 150m order was already booked in Q2) and Homag: -23% y-o-y in Q3 23. Adj. EBIT margin in PFS increased further to 6.2% (up 2.1pp y-o-y). Restructuring cos...
- Juan Ros-Padilla
TKA THYSSENKRUPP AG
MT ARCELORMITTAL SA
BEKB BEKAERT SA
AAL ANGLO AMERICAN PLC
APAML APERAM SA
OUT1V OUTOKUMPU OYJ
EO FAURECIA SA
SSAB A SSAB AB CLASS A
SZG SALZGITTER AG
ABVX ABIVAX SA
VOE VOESTALPINE AG
ACX ACERINOX SA
ERA ERAMET SA
ICAD ICADE SA
SAVE SAVENCIA SA
NDA AURUBIS AG
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
CARM CARMILA SAS
ONTEX ONTEX GROUP N.V.
PSG PROSEGUR COMPANIA DE SEGURIDAD SA
RIO RIO TINTO PLC
FTG111 FLATEXDEGIRO AG
ECONT ECONOCOM GROUP SE CLASS D
BHP BHP GROUP LTD
CASH PROSEGUR CASH SA
DUE DURR AG
JST JOST WERKE AG
- Juan Ros-Padilla
TKA THYSSENKRUPP AG
MT ARCELORMITTAL SA
BEKB BEKAERT SA
AAL ANGLO AMERICAN PLC
APAML APERAM SA
OUT1V OUTOKUMPU OYJ
EO FAURECIA SA
SSAB A SSAB AB CLASS A
SZG SALZGITTER AG
ABVX ABIVAX SA
VOE VOESTALPINE AG
ACX ACERINOX SA
ERA ERAMET SA
ICAD ICADE SA
SAVE SAVENCIA SA
NDA AURUBIS AG
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
CARM CARMILA SAS
ONTEX ONTEX GROUP N.V.
PSG PROSEGUR COMPANIA DE SEGURIDAD SA
RIO RIO TINTO PLC
FTG111 FLATEXDEGIRO AG
ECONT ECONOCOM GROUP SE CLASS D
BHP BHP GROUP LTD
CASH PROSEGUR CASH SA
DUE DURR AG
JST JOST WERKE AG
- Fabian Semon
DÜRR AG : Homag = no short-term fix & even lower margins for longer? U...
>Homag with muted FY24 prospects (same heard from Biesse), slowing down Homag from ‘Hero to Zero’ might become difficult in the current set-up - After we attended the management call on Dürr’s FY 2024 warning, we derived the conclusion that the Homag issues will not be a short-term fix. What we have learned so far: 1/ Order intake at Homag declined by >30% y-o-y in 9M 2023 (i.e.
- Emmanuel Matot
- Fehmi Ben Naamane
- Marc Lavaud
ALFOC FOCUS HOME INTERACTIVE SA
BFIT BASIC-FIT NV
VAC PIERRE & VACANCES SA
WTB WHITBREAD PLC
FLY SOCIETE FONCIERE LYONNAISE SA
BIO BB BIOTECH AG
STF STEF
BLC BASTIDE LE CONFORT MEDICAL SA
SRP SRP GROUPE SA
SAVE SAVENCIA SA
ROYAL VOPAK NV
SHOT SCANDIC HOTELS GROUP
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
LFDE LA FRANCAISE DE L'ENERGIE SA
MEL MELIA HOTELS INTERNATIONAL S.A.
NHH NH HOTEL GROUP SA
TKO TIKEHAU CAPITAL SCA
DUE DURR AG
B4B METRO AG
IHG INTERCONTINENTAL HOTELS GROUP PLC
VRLA VERALLIA SAS
TE TECHNIP ENERGIES NV
ALLFG ALLFUNDS (UK) LTD
STM STABILUS SE
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