reports
- Carole Braudeau
- Carole Braudeau
- Anthony Dick
- Michael Foundoukidis
- Thomas Zlowodzki
- Anthony Dick
- Michael Foundoukidis
- Thomas Zlowodzki
- Benoit Valleaux
- Steven Gould
- Benoit Valleaux
- Steven Gould
- Suvi Platerink Kosonen
Bank Capital/It's getting hot in here
We take a look at the broad developments in euro-denominated AT1 markets. So far this year the tight trading levels have reflected as banks continuing to remain very active in primary markets. With the uncertain geopolitical landscape, we would remain selective on issuers and in terms of bonds.
- Carole Braudeau
Credit Morning 05/28/2025
Tereos : -29% decline in EBITDA for 2024/25 and very cautious guidance for 2025/26, with leverage that could reach 5x.|IHO roadshow feedback: ContiTech monetisation could help IHO to de-lever… but earliest 2026|Emeria: Q1 2025 results reassuring despite ongoing liquidity concerns|Isabel Marant: despite a further improvement in the topline, EBITDA fell again in Q1|Tough 2025 results, withdrawal of 2026 targets, Q1 2026 revenue expected to drop by 20%, and new CFO|
- Carole Braudeau
Morning Crédit 28/05/2025
Tereos : publication d’une baisse de -29% de l’EBITDA en 2024/25 et guidance très prudente pour 2025/26, avec un levier qui pourrait aller jusqu’à 5x.|IHO roadshow feedback: ContiTech monetisation could help IHO to de-lever… but earliest 2026|Emeria : un T1 2025 rassurant même si la liquidité reste critique|Isabel Marant : malgré une nouvelle amélioration de la topline, l’Ebitda est à nouveau en baisse au T1|Résultats 2025 difficiles, retrait des objectifs 2026, CA T1 2026 attendu en baisse org....
- Roy Külter
- Steven Boumans
- Thomas Zlowodzki
PROX PROXIMUS SA DE DROIT PUBLIC
ZIL2 ELRINGKLINGER AG
LXS LANXESS AG
ACX ACERINOX SA
COFB COFINIMMO SA
INH INDUS HOLDING AG
KRN KRONES AG
MONT MONTEA SCA
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
SAX STROEER SE & CO. KGAA
BPOST BPOST SA
BRNL BRUNEL INTERNATIONAL N.V.
SSO SCATEC ASA
NVG NAVIGATOR COMPANY SA
RENE REDES ENERGETICAS NACIONAIS SA
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
VGP VGP NV
COL INMOBILIARIA COLONIAL SOCIMI SA
SIFG SIF HOLDING NV
FACC FACC AG
WLN WORLDLINE SA
MEL MELIA HOTELS INTERNATIONAL S.A.
NKT NKT A/S
GEST GESTAMP AUTOMOCION S.A.
SAB BANCO DE SABADELL SA
CAF CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES S.A.
S92 SMA SOLAR TECHNOLOGY AG
EAT AMREST HOLDINGS SE
NEXI NEXI S.P.A.
NLBR NOVA LJUBLJANSKA BANKA DD LJUBLJANA
AG1 AUTO1 GROUP
MRX MISTER SPEX SE
ECMPA EUROCOMMERCIAL PROPERTIES NV
BRE BREMBO S.P.A.
- Roy Külter
- Steven Boumans
- Thomas Zlowodzki
PROX PROXIMUS SA DE DROIT PUBLIC
ZIL2 ELRINGKLINGER AG
LXS LANXESS AG
ACX ACERINOX SA
COFB COFINIMMO SA
INH INDUS HOLDING AG
KRN KRONES AG
MONT MONTEA SCA
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
SAX STROEER SE & CO. KGAA
BPOST BPOST SA
BRNL BRUNEL INTERNATIONAL N.V.
SSO SCATEC ASA
NVG NAVIGATOR COMPANY SA
RENE REDES ENERGETICAS NACIONAIS SA
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
VGP VGP NV
COL INMOBILIARIA COLONIAL SOCIMI SA
SIFG SIF HOLDING NV
FACC FACC AG
WLN WORLDLINE SA
MEL MELIA HOTELS INTERNATIONAL S.A.
NKT NKT A/S
GEST GESTAMP AUTOMOCION S.A.
SAB BANCO DE SABADELL SA
CAF CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES S.A.
S92 SMA SOLAR TECHNOLOGY AG
EAT AMREST HOLDINGS SE
NEXI NEXI S.P.A.
AG1 AUTO1 GROUP
MRX MISTER SPEX SE
ECMPA EUROCOMMERCIAL PROPERTIES NV
BRE BREMBO S.P.A.
- Juan Ros-Padilla
- Luis Arredondo
ROVI: 1Q’25 RESULTS (ANÁLISIS BANCO SABADELL)
1Q'25 vs. 1Q'24 Results Sales: € 154.9 M (+2.4% vs. +1.5% BS(e) and +0.2% consensus); EBITDA: € 30.3 M (+17.0% vs. -0.8% BS(e) and +2.3% consensus); EBIT: € 23.0 M (+19.2% vs. -5.2% BS(e) and -1.0% consensus); Net Profit: € 18.1 M (+20.7% vs. -4.8% BS(e) and -2.0% consensus);
- Luis Arredondo
ROVI: RDOS. 1T’25 (ANÁLISIS BANCO SABADELL)
Rdos. 1T'25 vs 1T'24: Ventas: 154,9 M euros (+2,4% vs +1,5% BS(e) y +0,2% consenso); EBITDA: 30,3 M euros (+17,0% vs -0,8% BS(e) y +2,3% consenso); EBIT: 23,0 M euros (+19,2% vs -5,2% BS(e) y -1,0% consenso); BDI: 18,1 M euros (+20,7% vs -4,8% BS(e) y -2,0% consenso).
- Research Department
IBERIAN DAILY 08 MAY + 1Q’25 RESULTS. HIGHLIGHTS AND REST OF PREVIEWS ...
NEWS SUMMARY: AMADEUS, ELECTRICITY SECTOR, INDRA, OHLA, ROVI. 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 1Q’25 results to be released over the coming days in Spain. The markets continue to digest the rally European stock markets fell ahead of the Fed meeting, which kept interest rates unchanged, as expected. In the STOXX 600, the day’s winners were Household Goods and Med...
- Research Department
INFORME DIARIO 08 MAYO + RDOS. ESPAÑA Y EUROPA 1T’25. IDEAS DESTACADAS...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: AMADEUS, INDRA, OHLA, ROVI, SECTOR ELÉCTRICO. EUROPA: AB INBEV, AIRBUS. 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. 1T’25 que se publicarán en España y Europa en los próximos días. Continúa la “digestión” del rebote Cesiones en las bolsas de Europa, antes de la reunión de la Fed que, como se esperaba, ...
- Bruno Cavalier
- Michael B. Schäfer
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
01913 PRADA S.P.A.
MONC MONCLER SPA
WAF SILTRONIC AG
LTA ALTAMIR ACT PORTEUR
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
ALM ALMIRALL SA
FPE3 FUCHS PETROLUB SE
STM STABILUS SE
- Bruno Cavalier
- Michael B. Schäfer
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
01913 PRADA S.P.A.
MONC MONCLER SPA
WAF SILTRONIC AG
LTA ALTAMIR ACT PORTEUR
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
ALM ALMIRALL SA
FPE3 FUCHS PETROLUB SE
STM STABILUS SE
- Juan Ros-Padilla
- Ahmed Ben Salem
DHLN DHL GROUP
FP TOTAL SE
EQNR EQUINOR ASA
MT ARCELORMITTAL SA
KNEBV KONE OYJ CLASS B
TKA TELEKOM AUSTRIA AG
FORTUM FORTUM OYJ
DAI DAIMLER AG
RXL REXEL SA
MMK MAYR-MELNHOF KARTON AG
OMV OMV AG
AMUN AMUNDI SA
SCHP SCHINDLER HOLDING AG PREF
SAN SANOFI
NEX NEXANS SA
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
REP REPSOL SA
ASM ASM INTERNATIONAL N.V.
NEM NEMETSCHEK SE
KGX KION GROUP AG
AENA AENA SME SA
ANDR ANDRITZ AG
SNP PETROM S.A.
AZN ASTRAZENECA PLC
BP. BP P.L.C.
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
ADYEN ADYEN NV
STLA STELLANTIS N.V.
UMG UNIVERSAL MUSIC GROUP NV
ATCO A ATLAS COPCO AB
STMN STRAUMANN HOLDING AG
GSK GSK PLC
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
DSFIR KONINKLIJKE DSM N.V.
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