reports
- Gerardo Ibanez
- Steven Boumans
- Gerardo Ibanez
- Steven Boumans
- Andreas Riemann
Metro AG : Q1 profits slightly below, FY outlook confirmed
>Price investments in Germany hurt earnings - Metro released results for Q1 2023-24 which ended in December. Q1 sales increased 6% organically y-o-y to € 8.1bn (consensus: € 8.1bn, ODDO BHFe: € 8.1bn) and were thus 1-2% above the consensus. Regions: Germany and West grew 4%, Russia was up 11% and East rose 9%. The delivery business increased 24% organically. Adjusted EBITDA amounted to € 404m (consensus: € 418m, ODDO BHFe: € 412m), i.e. was 3% below the consensus. Thi...
- Nicolas David
SOP SOPRA STERIA GROUP SA
ATO ATOS SE
INF INFOTEL SA
ASY ASSYSTEM SA
SQI SQLI SA
SWP SWORD GROUP SE
VIRP VIRBAC SA
ATE ALTEN SA
CAP CAPGEMINI SE
VRNL VERNEUIL PARTICIPATIONS
ORDI ORDINA N.V.
CTAC CTAC N.V.
TIETO TIETOEVRY OYJ
NDA AURUBIS AG
COK CANCOM SE
BC8 BECHTLE AG
IDR INDRA SISTEMAS S.A. CLASS A
ECONT ECONOCOM GROUP SE CLASS D
REY REPLY S.P.A.
B4B METRO AG
DRI 1&1 DRILLISCH AG
2CRSI 2CRSI SA
MEDCL MEDINCELL SA
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
SOP SOPRA STERIA GROUP SA
ATO ATOS SE
INF INFOTEL SA
ASY ASSYSTEM SA
SQI SQLI SA
SWP SWORD GROUP SE
VIRP VIRBAC SA
ATE ALTEN SA
CAP CAPGEMINI SE
VRNL VERNEUIL PARTICIPATIONS
ORDI ORDINA N.V.
CTAC CTAC N.V.
TIETO TIETOEVRY OYJ
NDA AURUBIS AG
COK CANCOM SE
BC8 BECHTLE AG
IDR INDRA SISTEMAS S.A. CLASS A
ECONT ECONOCOM GROUP SE CLASS D
REY REPLY S.P.A.
B4B METRO AG
DRI 1&1 DRILLISCH AG
2CRSI 2CRSI SA
MEDCL MEDINCELL SA
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
FQT FREQUENTIS AG WIENER
NA9 NAGARRO
EXN EXCLUSIVE NETWORKS SA
OVH OVH GROUPE
IOS IONOS GROUP SE
- Andreas Riemann
Metro AG : FY 2023-24 profit outlook lower than expected, further cost...
>Final FY 2022-23 results in line, lower operating profitability - Metro Last week released its final numbers for FY 2022-23 to end-September. FY sales (already announced in October) increased 6% organically y-o-y to € 30.6bn. Last week, it announced adjusted EBITDA of € 1,174m (the consensus was distorted due to one-offs, ODDO BHFe: € 1,178m), implying a margin of 3.8% down 80bp y-o-y, mainly on a lower gross margin. It also mentioned the delivery business grew 11%...
- Nicolas David
ODDO BHF Small & MIDCAP MORNING NEWS - 14/12/2023 Date Performance dep...
We reiterate our Neutral rating, price target to €0.80 per share. The material additional investment requirements for Accoya USA caught us by surprise. The proceeds of the share issue and the convertible loan plus the amendment of the RCF and term loan ensure that the Accoya USA plant can be completed (>80% done) and that sufficient sales and marketing power can be applied to develop demand in the US to ensure that sales match the envisaged output. In a scenario where demand in Europe...
ATO ATOS SE
INF INFOTEL SA
FGA FIGEAC AERO SA
ASY ASSYSTEM SA
SQI SQLI SA
SWP SWORD GROUP SE
ATE ALTEN SA
TRI TRIGANO 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.
B4B METRO AG
AVTX AVANTIUM NV
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
FQT FREQUENTIS AG WIENER
S30 SOLUTIONS 30 SE
NA9 NAGARRO
EXN EXCLUSIVE NETWORKS SA
OVH OVH GROUPE
IOS IONOS GROUP SE
- Nicolas David
ODDO BHF Small & MIDCAP MORNING NEWS - 12/14/2023 Date Performance sin...
We reiterate our Neutral rating, price target to €0.80 per share. The material additional investment requirements for Accoya USA caught us by surprise. The proceeds of the share issue and the convertible loan plus the amendment of the RCF and term loan ensure that the Accoya USA plant can be completed (>80% done) and that sufficient sales and marketing power can be applied to develop demand in the US to ensure that sales match the envisaged output. In a scenario where demand in Europe...
ATO ATOS SE
INF INFOTEL SA
FGA FIGEAC AERO SA
ASY ASSYSTEM SA
SQI SQLI SA
SWP SWORD GROUP SE
ATE ALTEN SA
TRI TRIGANO SA
CAP CAPGEMINI SE
VRNL VERNEUIL PARTICIPATIONS
MAREL MAREL HF.
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.
B4B METRO AG
AVTX AVANTIUM NV
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
FQT FREQUENTIS AG WIENER
S30 SOLUTIONS 30 SE
NA9 NAGARRO
EXN EXCLUSIVE NETWORKS SA
OVH OVH GROUPE
EBUS EBUSCO HLDG NV
IOS IONOS GROUP SE
- Andreas Riemann
Metro AG : FY 2023 profits in line, FY 2024 outlook below
>Operating margin remains under pressure - Yesterday evening, Metro released final numbers for FY 2023 which ended in September. FY 2023 sales (already announced in October) increased 6% organically y-o-y to € 30.6bn. Today they announced adjusted EBITDA which amounted to € 1,174m (consensus is distorted due to one-offs, ODDO BHFe: € 1,178m), implying a margin of 3.8% down 80bp y-o-y. Metro also provided a FY 2024 outlook: Sales to grow 3% to 7% (consensus: 5%, O...
- 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
GBT GUERBET SA
SAVE SAVENCIA SA
ROYAL VOPAK NV
SHOT SCANDIC HOTELS GROUP
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
INSD VERIMATRIX 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
RBO ROCHE BOBOIS INTERNATIONAL SAS
IHG INTERCONTINENTAL HOTELS GROUP PLC
VRLA VERALLIA SAS
TE TECHNIP ENERGIES NV
ALLFG ALLFUNDS (UK) LTD
STM STABILUS SE
- 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
- Andreas Riemann
Metro AG : FY 2023 prelims, 6% organic growth in line, cautious on pro...
>Good organic growth but FX headwinds, profits in lower half of range - Yesterday evening, Metro released a trading statement for FY 2023 which ended in September. FY 2023 sales increased 6% organically (consensus: 6%, ODDO BHFe: 7%) to € 30.6bn (consensus: € 30.8bn, ODDO BHFe: € 31.1bn), i.e. organic growth was in line with the consensus while reported growth was negatively affected by FX headwinds (Russia and Turkey). For Q4 this implies 5% organic growth. FY sales...
- Anthony Dick
- Michael Foundoukidis
- Anthony Dick
- Michael Foundoukidis
- Andreas Riemann
Metro AG : Q3 below, FY 2023 guidance confirmed, cautious tone on Germ...
>Lower profits in Germany, HoReCa business weak in April and May - In Q3, which ended in June, Metro sales increased 6% y-o-y organically (consensus: 6%, ODDO BHFe: 7%) to € 7.6bn (consensus: € 8.1bn, ODDO BHFe: € 8.1bn), i.e. organic growth was in line but in reported terms it was 6% below the consensus (probably due to FX and portfolio effects). Regions: Germany and Western Europe both grew 2% in local FX owing to a weak HoReCa business in April and May. Russia was ...
- Luis de Toledo Heras
OLG OLYMPIQUE LYONNAIS GROUPE
DEQ DEUTSCHE EUROSHOP AG
ERG ERG S.P.A.
NDA AURUBIS AG
WIE WIENERBERGER AG
PAT PATRIZIA AG
AALB AALBERTS N.V.
SAX STROEER SE & CO. KGAA
LNSX SIXT LEASING AG
TLGO TALGO SA
DKG DEUTSCHE KONSUM REIT-AG
MEL MELIA HOTELS INTERNATIONAL S.A.
ALD ALD SA
B4B METRO AG
S92 SMA SOLAR TECHNOLOGY AG
AEIN ALLGEIER HOLDING AG
SOL SOLTEC POWER HOLDINGS
MRX MISTER SPEX SE
YOU ABOUT YOU HLDG AG
HGEA HGEARS AG
IVG IVECO GROUP
- Luis de Toledo Heras
OLG OLYMPIQUE LYONNAIS GROUPE
DEQ DEUTSCHE EUROSHOP AG
ERG ERG S.P.A.
NDA AURUBIS AG
WIE WIENERBERGER AG
PAT PATRIZIA AG
AALB AALBERTS N.V.
SAX STROEER SE & CO. KGAA
SIFG SIF HOLDING NV
LNSX SIXT LEASING AG
TLGO TALGO SA
DKG DEUTSCHE KONSUM REIT-AG
MEL MELIA HOTELS INTERNATIONAL S.A.
ALD ALD SA
B4B METRO AG
S92 SMA SOLAR TECHNOLOGY AG
AEIN ALLGEIER HOLDING AG
SOL SOLTEC POWER HOLDINGS
MRX MISTER SPEX SE
YOU ABOUT YOU HLDG AG
HGEA HGEARS AG
IVG IVECO GROUP
- Andreas Riemann
Metro AG : Q2 profits slightly above expectations, FY 2023 outlook con...
>Double-digit sales growth but lower profitability - In Q2 2023, which ended in March, Metro sales increased 10% y-o-y excluding FX to € 6.90bn (consensus: € 6.62bn, ODDO BHFe: € 6.59bn), i.e. was 4% above the consensus with Germany and Western Europe quite strong. Regions: Germany and West were up 9%, while Russia was down 14%. The segment East grew 21% supported by Turkey. The delivery business rose 21% in Q2 and the important HoReCa clients did also well according ...
Metro AG: 1 director
A director at Metro AG bought 13,157 shares at 7.470EUR 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 showi...
- Michael B. Schäfer
- Sinan Doganli
ASY ASSYSTEM SA
WHA WERELDHAVE N.V.
FAGR FAGRON SA
LSS LECTRA SA
KWS KWS SAAT SE & CO KGAA
MAREL MAREL HF.
ARCAD ARCADIS NV
COK CANCOM SE
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
EDR EDREAMS ODIGEO SA
ALD ALD SA
B4B METRO AG
CLA CLARANOVA SE
DSC1 DUTCH STAR C SHAR
ALVGO VOGO SA
FLOW FLOW TRADERS LTD
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