reports
- Bruno Cavalier
- Jerôme Bodin
MC LVMH MOET HENNESSY LOUIS VUITTON SE
RI PERNOD RICARD SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
AMUN AMUNDI SA
VIV VIVENDI SE
PHIA KONINKLIJKE PHILIPS N.V.
BRBY BURBERRY GROUP PLC
KER KERING SA
SAF SAFRAN S.A.
BOL BOLLORE SA
01913 PRADA S.P.A.
MONC MONCLER SPA
MAP MAPFRE SA
SKF B SKF AB CLASS B
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
LIVS AUTOLIV INC. SDR
DHER DELIVERY HERO SE
STM STMICROELECTRONICS NV
DWS DWS GROUP GMBH & CO. KGAA
UMI UMICORE
8TRA TRATON SE
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
SGSN SGS SA
TEN TENARIS S.A.
- Bruno Cavalier
- Jerôme Bodin
MC LVMH MOET HENNESSY LOUIS VUITTON SE
RI PERNOD RICARD SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
AMUN AMUNDI SA
VIV VIVENDI SE
PHIA KONINKLIJKE PHILIPS N.V.
BRBY BURBERRY GROUP PLC
KER KERING SA
SAF SAFRAN S.A.
BOL BOLLORE SA
01913 PRADA S.P.A.
MONC MONCLER SPA
MAP MAPFRE SA
SKF B SKF AB CLASS B
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
LIVS AUTOLIV INC. SDR
DHER DELIVERY HERO SE
STM STMICROELECTRONICS NV
DWS DWS GROUP GMBH & CO. KGAA
UMI UMICORE
8TRA TRATON SE
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
SGSN SGS SA
TEN TENARIS S.A.
- Roland Pfaender
- MBA
- CFA
- CCRA
- Steven Gould
DWS : AuM growth and performance fees overcompensate higher cost traje...
>Q1 2024 results came in below expectations - DWS reported Q1 2024 results below our and consensus expectations. Group adj. pre-tax profit came to € 231m and compares to € 237m consensus and our more optimistic € 272m estimate. The shortfall to consensus is linked to slightly lower revenues and modestly higher costs than expected. AuM at period end came to € 941bn, up 12% y-o-y and stood above consensus expectation of € 921bn and our € 938bn estimate. A surprisingly l...
- ING Helpdesk
Benelux Morning Notes
Azelis: Strong margin performance in weak trading results in 3% EBITA beat. BE Semiconductor Industries: 1Q24 results; prolonged downcycle. Coca-Cola Europacific Partners plc: Messy but good. DWS: Record breaking. Flow Traders: Crypto Kings. Fugro: Here we go again. Kinepolis: Weak start to the year, but a bit better than feared. UCB: Changes in the group executive committee. Unilever: Heading in the right direction. Vonovia: Disposal of 4,500 apartments for €700m. Wolters Kl...
EQS-News: Q1 2024: DWS generiert starke Nettomittelzuflüsse und erreic...
EQS-News: DWS Group GmbH & Co. KGaA / Schlagwort(e): Quartalsergebnis Q1 2024: DWS generiert starke Nettomittelzuflüsse und erreicht beim verwalteten Vermögen ein neues Allzeithoch 25.04.2024 / 06:59 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Nettomittelflüsse bei langfristig verwaltetem Vermögen (ohne Cash-Produkte und Advisory) in Q1 auf EUR 7,9 Mrd. gestiegen (Q4 2023: EUR 1,0 Mrd.). Einschließlich Advisory Services und volatiler Cash-Produkte mit geringen Margen belief sich das Nettomittelaufkommen insgesamt auf EUR 7,8 Mrd. ...
EQS-News: Q1 2024: DWS Generates Strong Net Inflows and Reaches New Al...
EQS-News: DWS Group GmbH & Co. KGaA / Key word(s): Quarter Results Q1 2024: DWS Generates Strong Net Inflows and Reaches New All-Time High for Assets under Management 25.04.2024 / 06:59 CET/CEST The issuer is solely responsible for the content of this announcement. Long-term net flows (ex Cash and Advisory) increased to EUR 7.9bn in Q1 (Q4 2023: EUR 1.0bn). Including volatile low-margin Cash products and Advisory Services total net flows were EUR 7.8bn (Q4 2023: EUR 11.0bn). ESG funds attracted net inflows of EUR 1.7bn in Q1 Assets under Management up by EUR 45bn to n...
- ING Helpdesk
Benelux Morning Notes
Ahold Delhaize: Release of 1Q24 company-compiled consensus. AkzoNobel: Decent 1Q24 with 4% beat, FY guidance reiterated. Allfunds Group plc: On the verge. Barco: Weak 1Q24, more conservative wording on guidance. DWS: 1Q24 preview. Flow Traders: No respite in March. IMCD: Last hurdle before growth. Randstad: 1Q24 slight miss vs consensus, 2Q24 outlook below due to weak gross margin. TKH Group: Preview – a weak 1Q expected Vår Energi: Nice start to the year
- Anthony Dick
- Michael Foundoukidis
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/02/2024
Sodexo boasts a defensive profile and significant potential for operational improvement, with progress increasingly visible since Sophie Bellon’s arrival as CEO. These factors are set to endure, narrowing the gap with Compass, and its transformation into a catering pure player following Pluxee’s spin-off in early 2024 should facilitate the group’s rerating. Outperform rating reiterated and a target price € 98 following Pluxee’s spin-off (combined Sodexo + Pluxee target price of € 12...
- Anthony Dick
- Michael Foundoukidis
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 02/02/2024
Sodexo bénéficie d’un profil défensif et d’un fort potentiel d’amélioration opérationnelle, avec des progrès de plus en plus visibles depuis l’arrivée de Sophie Bellon comme CEO. Ceux-ci devraient se poursuivre, réduisant l’écart avec Compass, et sa transformation en un pure player, à la suite du spin-off de Pluxee début 2024, devrait faciliter son rerating boursier. Surperformance réitérée et OC à 98 € à la suite du spin-off de Pluxee (OC combinés Sodexo + Pluxee à 129 € vs OC de 118...
- Roland Pfaender
- MBA
- CFA
- CCRA
- Steven Gould
DWS : Raising estimates on improved outlook and downgrade to Neutral
>Q4 2023 results below expectations - DWS reported Q4 2023 results below our and consensus expectations. Group adj. pre-tax profit came to € 226m and thus below the € 232m consensus and our € 239m estimate. The negative deviation was predominantly triggered by a lower-than-expected management fee margin of 26.0bp vs 27.2bp consensus estimate. DWS reiterated its proposal for DPS of € 2.1 and a special dividend of € 4.0 per share helping to reduce excess capital. We be...
- ING Helpdesk
Benelux Morning Notes
ASR: Sale of KNAB to Austrian BAWAG for €510m opens up capital options. BE Semiconductor Industries: Peer K&S provides weak 1Q24 guidance. Corbion: Plus ça change, plus c'est la même chose. DWS: Solid. Euronav: Solid year-end ahead of transformation. Philips: Peer Healthineers reports 1Q24 update. Shell plc: Strong end to FY23
EQS-News: DWS Returned to Net Inflows in 2023 Supported by all Three P...
EQS-News: DWS Group GmbH & Co. KGaA / Key word(s): Quarter Results/Annual Results DWS Returned to Net Inflows in 2023 Supported by all Three Pillars – Passive including Xtrackers, Active and Alternatives 01.02.2024 / 06:59 CET/CEST The issuer is solely responsible for the content of this announcement. Net flows ex Cash of EUR 1.8bn in Q4 resulting in EUR 22.6bn in FY 2023 (including Cash EUR 11.0bn in Q4 2023, EUR 28.3bn in FY 2023), supported by all three pillars – Passive including Xtrackers, Active and Alternatives. ESG funds with net inflows of EUR 4.9bn in FY 2023 A...
EQS-News: DWS 2023: Rückkehr zu Nettomittelzuflüssen, gestützt durch a...
EQS-News: DWS Group GmbH & Co. KGaA / Schlagwort(e): Quartalsergebnis/Jahresergebnis DWS 2023: Rückkehr zu Nettomittelzuflüssen, gestützt durch alle drei Säulen – Passive einschließlich Xtrackers, Active und Alternatives 01.02.2024 / 06:59 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Nettomittelzuflüsse ohne Cash-Produkte von EUR 1,8 Mrd. in Q4 führen zu EUR 22,6 Mrd. im GJ 2023 (mit Cash-Produkten: EUR 11,0 Mrd. in Q4 2023, EUR 28,3 Mrd. im GJ 2023), gestützt durch alle drei Säulen – Passive einschließlich Xtrackers, Active und Al...
- ING Helpdesk
- ING Helpdesk
Benelux Morning Notes
Belgian telecoms: Wyre reached 44k homes passed at end 2023, below 100k ambition. Corbion: A long time coming. DWS: Promises, promises. PostNL: Preliminary 4Q23 - profit warning on weaker parcel volumes and fixed capacity. Signify: 4Q23 Results - weak top line, margins protected. WDP: 2024-27 ambitions revealed
- Ahmed Ben Salem
HEIA HEINEKEN NV
IPN IPSEN SA
WCH WACKER CHEMIE AG
JMT JERONIMO MARTINS SGPS S.A.
CA CARREFOUR SA
BVI BUREAU VERITAS SA
ADP AEROPORTS DE PARIS SA
BN DANONE SA
SU SCHNEIDER ELECTRIC SE
KNEBV KONE OYJ CLASS B
SSAB A SSAB AB CLASS A
ULVR UNILEVER PLC
DAI DAIMLER AG
SW SODEXO SA
GLE SOCIETE GENERALE S.A. CLASS A
RHM RHEINMETALL AG
REP REPSOL SA
FDR FLUIDRA S.A.
ASSA B ASSA ABLOY AB CLASS B
WLN WORLDLINE SA
SAN BANCO SANTANDER S.A.
BIM BIOMERIEUX SA
STM STMICROELECTRONICS NV
DWS DWS GROUP GMBH & CO. KGAA
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
HFG HELLOFRESH SE
8TRA TRATON SE
DSY DASSAULT SYSTEMES SA
ATCO A ATLAS COPCO AB
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
- Ahmed Ben Salem
HEIA HEINEKEN NV
IPN IPSEN SA
WCH WACKER CHEMIE AG
JMT JERONIMO MARTINS SGPS S.A.
CA CARREFOUR SA
BVI BUREAU VERITAS SA
ADP AEROPORTS DE PARIS SA
BN DANONE SA
SU SCHNEIDER ELECTRIC SE
KNEBV KONE OYJ CLASS B
SSAB A SSAB AB CLASS A
ULVR UNILEVER PLC
DAI DAIMLER AG
SW SODEXO SA
GLE SOCIETE GENERALE S.A. CLASS A
RHM RHEINMETALL AG
REP REPSOL SA
FDR FLUIDRA S.A.
ASSA B ASSA ABLOY AB CLASS B
WLN WORLDLINE SA
SAN BANCO SANTANDER S.A.
BIM BIOMERIEUX SA
STM STMICROELECTRONICS NV
DWS DWS GROUP GMBH & CO. KGAA
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
HFG HELLOFRESH SE
8TRA TRATON SE
DSY DASSAULT SYSTEMES SA
ATCO A ATLAS COPCO AB
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
- Roland Pfaender
- MBA
- CFA
- CCRA
- Steven Gould
DWS : Headwind from capital markets environment & rising IT transforma...
>Q3 2023 results ahead of expectations; mixed bag of key KPIs - DWS reported Q3 2023 adj. pre-tax profit of € 246m (down by 2.4% yoy) and thus ahead of our € 238m and € 234m consensus estimates. Key performance indicators came in weaker than expected with net flows at € 2.3bn vs € 6.0bn consensus expectation. The group’s management fee margin stood at 27.2bs slightly shy of 27.4bp consensus estimate. DWS indicated to incur elevated IT integration costs also in 2024 b...
- ING Helpdesk
Benelux Morning Notes
AkzoNobel: 3Q23 and FY guidance in-line, €250m self-help by 2027F. ASM International: 3Q23 results, solid order intake to support 2024. BAM: Preview - eyes on outlook and Danish projects. Belgian telecoms: Orange/MasMovil reported to consider Digi as remedy taker. DWS: Resilient AuM despite challenging markets. Flow Traders: 3Q23 Preview. Heijmans: Preview - home sales the key number. Heineken: Promising a Miracle? KPN: Slightly better EBITDAal, commercial momentum, guidance reit...
EQS-News: Q3 2023: DWS kommt in schwierigem Marktumfeld weiter voran u...
EQS-News: DWS Group GmbH & Co. KGaA / Schlagwort(e): 9-Monatszahlen/Quartalsergebnis Q3 2023: DWS kommt in schwierigem Marktumfeld weiter voran und erzielt anhaltende Nettomittelzuflüsse sowie stabile Erträge 25.10.2023 / 06:58 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Kontinuierliche Fortschritte bei der Umsetzung der Strategie trotz geringerer Risikoneigung der Kunden und schwieriger Kapitalmärkte Nettomittelzuflüsse ohne Cash-Produkte von EUR 1,6 Mrd. in Q3 führen zu EUR 20,8 Mrd. in den ersten 9 Monaten 2023 (mit Cash-Produ...
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