H2 was a better semester for the SA Telcos. Service revenue and EBITDA trends improved and capex – while still above historic levels – was contained. However, improvements were modest as the environment remains difficult and growth remains limited.
LUXEMBOURG--(BUSINESS WIRE)-- Regulatory News: Présentation agrégée par jour et par marché Nom de l'émetteur Code Identifiant de l'émetteur Jour de la transaction Code identifiant de l'instrument financier Volume total journalier (en nombre d'actions) Prix pondéré moyen journalier d'acquisition des actions Marché LEI de l'émetteur Code ISIN (ISO 6166) MIC code (ISO 10383) SES 5493008JPA4HYMH1HX51 22/04/2024 LU0088087324 100,000 5.676839 XPAR SES 5493008JPA4HYMH1HX51 23/04/2024 LU0088087324 100,000 5.6532 XPAR SES 5493008JPA4HYMH1...
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...
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). - ...
Iliad Holding plans to issue new bonds to fund the investment in Tele2 and a tender on Iliad Holding 2026 notesIsabel Marant: well preserved liquidity but further deep fall in the wholesale order bookVerisure markets new bonds with two special covenants linked to a potential IPOBUT/Mobilux: new bond offering with the inclusion of Conforama into the scope>...
Isabel Marant : liquidité supérieure aux attentes mais nouvelle chute du carnet de commandesBUT/Mobilux : Nouvelle émission obligataire avec intégration de Conforama dans le périmètreIliad Holding compte émettre des de nouvelles obligations pour financer l’investissement dans Tele2 et un tender sur la souche Iliad Holding 2026Verisure commercialise des nouvelles obligations avec deux covenants spéciaux liés à une potentielle IPO>...
LUXEMBOURG & MCLEAN, Va.--(BUSINESS WIRE)-- SES S.A. (“SES”) and Intelsat S.A. (“Intelsat”) announce an agreement for SES to acquire Intelsat through the purchase of 100% of the equity of Intelsat Holdings S.a.r.l. for a cash consideration of $3.1 billion (€2.8 billion) and certain contingent value rights. The combination will create a stronger multi-orbit operator with greater coverage, improved resiliency, expanded suite of solutions, enhanced resources to profitably invest in innovation, and benefit from the collective talent, expertise, and track record of both companies. The combination...
>In the race for size, SES-Intelsat set to retake the number one spot worldwide - According to Bloomberg, SES has reopened the merger discussions with Intelsat, that failed in 2023. The arrival of Starlink with the low-orbit constellation LEO at ~$ 10bn and other forthcoming projects (Kuiper by Amazon, Telesat) are forcing traditional players to consolidate. SES fell from the world’s largest to third-largest satellite capacity provider, after the Viasat’s merger with ...
>Dans la course à la taille, SES-Intelsat reprendrait la première place mondiale - Selon Bloomberg, SES aurait repris ses discussions de fusion avec Intelsat qui avaient échoué en 2023. L’arrivée de Starlink avec sa constellation de basse orbite LEO à ~10 Md$ et les autres projets à venir (Kuiper par Amazon, Telesat) forcent une consolidation des acteurs traditionnels. SES est passé de premier à troisième plus gros vendeur mondial de capacité satellitaire dans le mond...
LUXEMBOURG--(BUSINESS WIRE)-- SES S.A. announces financial results for the three months ended 31 March 2024 and a solid start to the 2024 financial year. Revenue of €498 million (+2.5% YOY(1)) and Adjusted EBITDA(2) of €275 million (+4.7% YOY) Networks up 9.6% YOY(1) including periodic revenue, with Video performance (-5.2% YOY(1)) in line with expectations More than €125 million of new business and contract renewals signed in Q1 2024 Adjusted Free Cash Flow of €38 million net inflow compared with €(41) million net outflow in Q1 2023 Net Leverage at 1.5x(3) including cash & cash...
KPN reports on progress of € 200m share buyback KPN has repurchased 2,000,000 KPN ordinary shares in the period from 22 April to 26 April 2024. The shares were repurchased at an average price of € 3.39 per share for a total consideration of € 6.8m. These repurchases were made as part of the € 200m share buyback started on 1 February 2024, and are part of KPN's commitment to structurally return additional capital to its shareholders. The total number of ordinary shares repurchased to date is 50,006,611 for a total consideration of € 165.8m. Transaction details of the share buyback are avai...
Atos : l’Etat souhaite acquérir les activités souveraines du groupe, les besoins de liquidités sont revus à 1,1 md EUR (vs. 0,6 md EUR)Picard : les discussions entre Moez Zouari et Lion Capital auraient reprisDeutsche Bank annonce une provision légale inattendue de 1.3 md EUR pour le T2>...
NEWS SUMMARY: BBVA, CAF, IAG, NATURGY, TELEFÓNICA, UNICAJA. 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’24 results to be released over the coming days in Spain. The Ibex hits new annual highs Friday’s gains, driven by the good earnings season on both sides of the Atlantic and some widening in sovereign yields led stock exchanges to end in positive territory, particul...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: BBVA, CAF, IAG, NATURGY, TELEFÓNICA, UNICAJA. EUROPA: PHILIPS. 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’24 que se publicarán en España y Europa en los próximos días. El Ibex logra nuevos máximos de 2024 Los avances del viernes, impulsados por la buena campaña de resultados a ambos lados del Atlánti...
Deutz is a leading non-captive engine manufacturer for a wide range of customer industries with a strong and very well-known brand. The company will enter a profitable growth period soon (CAGR 2023-26e sales 8%, EPS 18%). We initiate coverage with an Outperform rating and a target price of € 7.9, reflecting >40% upside from here. - ...
>Résultats T1 2024 : T-Mobile maintient sa surperformance - T-Mobile continue de surperformer avec l’ajout de 532 000 contrats mobile (vs AT&T 349 000 et Verizon -68,000), 4% de croissance de CA de service au T1 2024 (vs concurrents 3.3%), 8% de croissance EBITDA et 39% de croissance FCF. T-Mobile relève de 2-4% ses objectifs d’abonnés pour 2024, d’EBITDA et de FCF de ~100 M€ soit ~0.3%.T-Mobile, détenu à 51% par Deutsche Telekom et qui représente plus de 95% de ...
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