reports
- Martin Marandon-Carlhian
- Stephane Houri
- Eya Drira
- Geoffroy Michalet
SGS : A credible CMD but with no major revelations
>A very marked focus on North America and near-shoring in Asia... - At the CMD, the group issued an update on its performance by region and reiterated its growth ambitions, notably in North America (c.10% of sales), driven by bolt-on acquisitions in environmental tests and connectivity, followed by pharma and cosmetics. In ASIA-Pacific (34% of sales), the group confirmed that it was maintaining strong momentum in China, a key market. The group is capitalising on an ad...
- Andreas Riemann
CTS Eventim AG & Co. KGaA : Q3 earnings: top line above, profits below...
>Double-digit top line growth in Q3, but sharp decline in EBITDA - In Q3 2024, revenue increased 13% y-o-y to € 825m (consensus: € 765m, ODDO BHFe: € 763m) 8% above the consensus despite a very tough base. The Ticketing business was up 19% and Live Entertainment sales grew 11%. Adjusted EBITDA decreased 30% y-o-y to € 121m (consensus: € 144m, ODDO BHFe: € 143m), 16% below consensus. Last year’s payment from autoticket (€ 38m) inflated adjusted EBITDA in Q3 2023. Bu...
- Martin Marandon-Carlhian
- Stephane Houri
- Eya Drira
- Geoffroy Michalet
SGS : CMD crédible mais sans révélations majeures
>Un focus très prononcé sur l’Amérique du Nord et le near shoring en Asie … - Lors du CMD, le groupe est revenu sur sa performance par région et réaffirmé ses ambitions de croissance, notamment en Amérique du Nord (c. 10 % du CA) portée par des acquisitions bolt-on dans les tests environnementaux et la connectivité, suivis de la pharma et des cosmétiques. En Asie-Pacifique (34 % du CA), le groupe confirme maintenir une bonne dynamique en Chine, un marché clé. Le group...
- Pierre Tegner
Unilever PLC : Ice cream IPO more likely according to the FT
>According to a FT article, an IPO is the most likely exit option - According to the Financial Times, Unilever has put an end to discussions with private equity funds on the disposal of the ice cream business. The plan is still an exit by the end of 2025 and a spin-off through an IPO is reportedly the most likely option. Last but not least, the FT article says that a € 10bn to € 15bn valuation for this business remains a credible range according to people close to th...
- Pierre Tegner
Unilever PLC : Ice cream IPO more likely according to the FT
>According to a FT article, an IPO is the most likely exit option - According to the Financial Times, Unilever has put an end to discussions with private equity funds on the disposal of the ice cream business. The plan is still an exit by the end of 2025 and a spin-off through an IPO is reportedly the most likely option. Last but not least, the FT article says that a € 10bn to € 15bn valuation for this business remains a credible range according to people close to th...
- Michael B. Schäfer
Symrise : CMD feedback - Evolutionary strategy update, slightly raised...
>Evolutionary strategy update, no dedicated efficiency programme beyond 2024 - Symrise hosted a CMD 7 months after Jean-Yves Parisot took over as CEO, providing a rather evolutionary strategy update compared to the CMD in October 2023 where 'growth' remains the key driver of the new 'One Symrise Strategy'. However, leveraging its global scale by implementing best practices across segments and active portfolio management (both ways) doubled its weight (40% vs 20%) in t...
EQS-News: CTS EVENTIM: Umsatz durchbricht 2-Milliarden-Euro-Schallmaue...
EQS-News: CTS Eventim AG & Co. KGaA / Schlagwort(e): Quartals-/Zwischenmitteilung/9-Monatszahlen CTS EVENTIM: Umsatz durchbricht 2-Milliarden-Euro-Schallmauer erstmals nach neun Monaten (News mit Zusatzmaterial) 21.11.2024 / 08:00 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Pressemitteilung CTS EVENTIM: Umsatz durchbricht 2-Milliarden-Euro-Schallmauer erstmals nach neun Monaten Starkes Wachstum in den ersten neun Monaten: Konzernumsatz +15,8 Prozent auf 2,027 Milliarden Euro, Adjusted EBITDA +12,1 Prozent auf 322,7 Millionen Euro...
EQS-News: CTS EVENTIM: revenue breaks through the EUR 2 billion barrie...
EQS-News: CTS Eventim AG & Co. KGaA / Key word(s): Quarterly / Interim Statement/9 Month figures CTS EVENTIM: revenue breaks through the EUR 2 billion barrier for the first time in a nine-month period (news with additional features) 21.11.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. Press Release CTS EVENTIM: revenue breaks through the EUR 2 billion barrier for the first time in a nine-month period Strong growth in the first three quarters of 2024: consolidated revenue rises by 15.8% to EUR 2.027 billion and adjusted EBITD...
- Martin Marandon-Carlhian
- Stephane Houri
STMicroelectronics N.V. : Wait and see…
>We remain at Neutral on STM after the CMD - Following yesterday’s CMD held in Paris, at which STM officially pushed out its 2025-2027 guidance to 2030 and unveiled its intermediate targets for 2027-2028, we remain at Neutral. We are leaving our forecasts unchanged. To summarise, the 2027-2028 targets are 9% above the consensus, but do not look unrealistic in 2028. That said, for the group to deliver on this outlook, there are some conditions: 1/ a significant market ...
- Martin Marandon-Carlhian
- Stephane Houri
STMicroelectronics N.V. : Wait and see…
>Nous restons Neutre sur STM après le CMD - Suite au CMD organisé hier à Paris, au cours duquel STM a officiellement repoussé son objectif 25/27 à 2030 et a dévoilé des objectifs intermédiaires 2027/28, nous réitérons notre opinion Neutre. Nous laissons nos prévisions inchangées. En résumé, les objectifs 27/28 sont supérieurs de 9% au consensus, mais ne nous paraissent pas inatteignable en 2028. Leur atteinte nécessitera néanmoins quelques conditions : 1/ une reprise ...
EQS-News: Symrise Capital Market Day: Unleashing the full beauty of O...
EQS-News: Symrise AG / Key word(s): Capital Markets Day Symrise Capital Market Day: Unleashing the full beauty of ONE Symrise, being and staying unique 20.11.2024 / 15:30 CET/CEST The issuer is solely responsible for the content of this announcement. Press release — Holzminden, 20 November 2024 ONE Symrise strategy to sustain continuous growth and increased focus on profitability Outlook upgraded for 2024: organic growth is now expected above 7% and EBITDA margin above 20% Long-term targets for 2028: organic sales growth at 5-7% CAGR (unchanged), EBITDA margin rang...
EQS-News: Kapitalmarkttag von Symrise: Unleashing the full beauty of O...
EQS-News: Symrise AG / Schlagwort(e): Kapitalmarkttag Kapitalmarkttag von Symrise: Unleashing the full beauty of ONE Symrise, das Motto des Strategie-Updates 20.11.2024 / 15:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Pressemitteilung — Holzminden, 20. November 2024 ONE Symrise Strategie zur Sicherung des kontinuierlichen Wachstums mit verstärktem Fokus auf Profitabilität Ausblick für 2024 angehoben: Organisches Wachstum über 7 % und EBITDA-Marge über 20 % Langfristziele für 2028: Organisches Umsatzwachstum von 5-7 % CA...
- Eya Drira
- Geoffroy Michalet
SGS : CMD: realistic update on 2027 targets – guidance confirmed
>Digital and sustainability at the heart of growth initiatives with a focus on North America. More reasonable M&A ambitions than anticipated - For its Investor Day in Rotterdam and Antwerp, SGS this morning issued an update on its 2027 targets. Key points to highlight: The group confirmed its 2027 guidance, with: i/ mid-single digit organic growth (5-7%), ii/ EBITA margin improvement of at least +150bp out to end-2027 (target of 16.2% for AOI margin) and iii...
- Damien Choplain
- Martial Descoutures
RHM RHEINMETALL AG
BLND BRITISH LAND COMPANY PLC
GRF GRIFOLS S.A. CLASS A
ELE ENDESA S.A.
ISP INTESA SANPAOLO S.P.A.
TLX TALANX AG
UCG UNICREDIT S.P.A.
CABK CAIXABANK SA
GRF.P GRIFOLS S.A. PREF CLASS B
ARGX ARGEN-X SE
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
SGSN SGS SA
- Eya Drira
- Geoffroy Michalet
SGS : CMD : un point sur les objectifs 2027 – Guidance réitérée – réal...
>Le digital et la durabilité au cœur des initiatives de croissance avec un focus sur l’Amérique du Nord. Ambition M&A plus raisonnable qu’anticipé. - À l'occasion de son Investor Day tenu à Rotterdam et Anvers, SGS publie ce matin un update sur ses objectifs 2027 Nous retenons les principaux points suivants : Le groupe réitéré ses objectifs 2027 à savoir : i/ une croissance organique mid-single digit (5-7%) ii/ une amélioration de la marge d’EBITA d’au moins...
STMicroelectronics Outlines 2027-2028 Financial Model and Path Toward...
STMicroelectronics Outlines 2027-2028 Financial Model and Path Towards 2030 Ambition PR No: C3296C STMicroelectronics Outlines 2027-2028 Financial Model and Path Towards 2030 Ambition Setting an intermediate financial model: ~$18B revenues and 22-24% operating margin in 2027-2028 Reiterating $20B+ revenue ambition and associated financial model, now expected to be reached by 2030 Geneva, November 20, 2024 - STMicroelectronics (NYSE:STM), a global semiconductor leader serving customers across the spectrum of electronics applications, is hosting today its Capital Markets Day in Paris, Fra...
STMicroelectronics présente son modèle financier pour 2027-2028 et sa...
STMicroelectronics présente son modèle financier pour 2027-2028 et sa trajectoire vers son ambition 2030 PR No: C3296C STMicroelectronics présente son modèle financier pour 2027-2028 et sa trajectoire vers son ambition 2030 Définition d’un modèle financier intermédiaire : chiffre d’affaires d’environ 18 milliards de dollars et marge d’exploitation de 22-24 % en 2027-2028Réitération de l’ambition d’un chiffre d’affaires à 20+ milliards de dollars et du modèle financier associé, dont l’atteinte est désormais prévue d’ici 2030 Genève, le 20 novembre 2024 - STMicroelectronics (NYSE : STM), ...
STMicroelectronics Announces Status of Common Share Repurchase Program
STMicroelectronics Announces Status of Common Share Repurchase Program STMicroelectronics Announces Status ofCommon Share Repurchase Program Disclosure of Transactions in Own Shares – Period from Nov 11, 2024 to Nov 15, 2024 AMSTERDAM – November 18, 2024 -- STMicroelectronics N.V. (the “Company” or “STMicroelectronics”), a global semiconductor leader serving customers across the spectrum of electronics applications, announces full details of its common share repurchase program (the “Program”) disclosed via a press release dated June 21, 2024. The Program was approved by a shareholder reso...
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