>Q1 2024 trading update slightly below expectations - IHG has just released its Q1 2024 trading update with RevPAR up 2.6% y-o-y, slightly below expectations at +3.1% (ODDO BHF +3.2%e). This is driven by price, at +2.3% while the occupancy rate was broadly flat (+0.2pt). In detail, Q1 2024 RevPAR by region: 1/ Americas: -0.3% (ODDO BHF at +1.0%) was affected by an adverse calendar timing due to the Easter break (leading to lower demand in late March but followed by hi...
>Q1 2024 trading update slightly below expectations - IHG has just released its Q1 2024 trading update with RevPAR up 2.6% y-o-y, slightly below expectations at +3.1% (ODDO BHF +3.2%e). This is driven by price, at +2.3% while the occupancy rate was broadly flat (+0.2pt). In detail, Q1 2024 RevPAR by region: 1/ Americas: -0.3% (ODDO BHF at +1.0%) was affected by an adverse calendar timing due to the Easter break (leading to lower demand in late March but followed by hi...
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.75 per share: Raising new equity to fund a high impact activity programme – ADX has raised A$13.5 mm of new equity priced at A$0.105 per share. One free-attaching option will be issued for evert two placement shares with an exercise price of A$0.15 per share and an expiry date of 08/05/2026. The proceeds from the raise will fund (1) the production testing of the 450 m gas column encountered at ...
We are removing GALP from our ODDO BHF European Large Caps list. The stock has chalked up a performance of +31.3% since its inclusion in the list on 20 March. Our analyst is adopting today a Neutral recommendation (vs Outperform) on the stock. - ...
>Upstream: solid growth profile underpinned by discoveries in Namibia - Adjusted EBITDA for upstream activities totalled € 591m in Q1, 9% above expectations. The group is guiding for divisional EBITDA of € 2.1bn for 2024, which seems fairly conservative, in our view, and output >115 kboe/d, in line with our expectations. This output should increase by over 30% (+40 kboe/d) with the start-up of Bacalhau in Brazil at end-2025 and which should reach its plateau in 202...
>Upstream : un profil de croissance solide renforcé par les découvertes en Namibie - L’EBITDA T1 2024 ajusté de l’Upstream est ressorti à 591 M€ et 9% au-dessus des attentes. Le groupe guide sur un EBITDA 2024 de la division à 2.1 Md€ qui nous parait assez conservateur et une production >115 kbep/j en ligne avec nos attentes. Cette production devrait croitre de de plus de 30% (+40 kbep/j) avec le démarrage de Bacalhau au Brésil fin 2025 qui devrait atteindre son pl...
>Q1 2024: 12% beat on EBITDA, 23% for EBIT and 28% for NI - GALP has just released its Q1 2024 results with EBITDA of € 974m, 12% above the consensus and 14% above our estimates. EBIT came in at € 776m (up 88.8% q-o-q), 23.4% above the consensus. Adjusted net income was € 337m (+18.7% q-o-q) and 28.6% above the consensus. Robust results supported by refining - Upstream: adjusted EBITDA was € 591m (vs € 599m in Q4), 9% above the consensus with lower ...
Latest Kantar French market share data highlight a continued and surprising outperformance by Leclerc (+80bp) despite very tough comps vs. other independents and Lidl (slightly up) and vs. integrated groups (down 100bp). The wide gap between Leclerc and Intermarché, Systeme U and Lidl in a fast-dec
BHP's bid for Anglo American has confirmed interest from miners in copper in the context of increasingly challenged production and difficulties in fully completing projects. Anglo’s (Neutral) prospects in copper are now better valued and this is also the case for BHP (Neutral vs Underperform) although not so for Rio Tinto (Outperform vs Neutral). Downstream, Nexans and Montana Aerospace are our Top Picks (Outperform) vs Aurubis, Rexel and Prysmian (Neutral). - ...
L’offre de BHP sur Anglo American a confirmé l’intérêt des minières pour le cuivre dans un contexte de tensions croissantes sur la production et de difficultés à faire aboutir les projets. Les perspectives d’Anglo (Neutre) dans le cuivre sont désormais mieux valorisées, c’est aussi le cas de BHP (Neutre vs Sous-performance) mais pas encore assez, selon nous, sur Rio Tinto (Surperformance vs Neutre). En aval, Nexans et Montana Aerospace sont nos valeurs préférées (Surperformance) vs Au...
>Q1 2024: 12% beat on EBITDA, 23% for EBIT and 28% for NI - GALP has just released its Q1 2024 results with EBITDA of € 974m, 12% above the consensus and 14% above our estimates. EBIT came in at € 776m (up 88.8% q-o-q), 23.4% above the consensus. Adjusted net income was € 337m (+18.7% q-o-q) and 28.6% above the consensus. Robust results supported by refining - Upstream: adjusted EBITDA was € 591m (vs € 599m in Q4), 9% above the consensus with lower ...
FORVIA: Share Buyback Transaction Statement from 22 April 2024 to 26 April 2024 Nanterre, 29 April 2024 Share Buyback Transaction Statement From 22 April 2024 to 26 April 2024(article 241-4, I of the Règlement Général of the Autorité des Marchés Financiers and position-recommendation of the Autorité des Marchés Financiers DOC-2017-04) Aggregated presentation by day and market Issuer’s nameIssuer’s identifying codeTransaction dateIdentifying code of financial instrumentDaily total volume (in number of shares)Daily weighted average price of shares acquiresMarket (MIC code)FORVIA969500F0VMZ...
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