>Disposal of Spain, ahead of the upcoming divestment of Italy - We have downgraded our forecasts to reflect the disposal of Spain (but our forecasts do not include the divestment of Italy pending the regulatory agreement): we have reduced our sales estimates by 15% from FY 2025 (to € 40bn), by 5% for EBITDAal (to € 12.2bn) and by 12% for FCFaL (to € 2.6bn). The EPS impact is, however, not significant, as the Spanish unit is not profitable.Pro-forma FY 202...
BAM: Preview - stable performance in difficult markets. Belgian telecoms: Telenet 3.5% price increase. Econocom: 1Q24 modest growth in line, sales guidance maintained. Philips: Preview 1Q24. Proximus: Acquires additional 5G spectrum from NRB. Signify: Preview 1Q24 - Slow start to the year. Staffing: Manpower - 1Q24 beats, 2Q24 outlook a touch above and trends stabilizing. WDP: No surprise
>Cession de l’Espagne, avant celle à venir de l’Italie - Nous révisons à la baisse nos prévisions pour intégrer la cession de l’Espagne (nos prévisions n’intègrent toutefois pas encore la cession de l’Italie dans l’attente de l’accord réglementaire) : nous abaissons de 15% nos estimations de CA à partir de FY 2025 (à 40 Md€), de 5% en EBITDAal (à 12,2 Md€) et de 12% en FCFaL (à 2,6 Md€). L’impact BPA est toutefois non significatif, l’activité espagnole n’étant pas pro...
>Earnings more evenly spread than initially anticipated - KPN is set to report its Q1 results on Wednesday 24 April. Although at the FY results management said that earnings growth in H1 was likely to be stronger than in H2, we now believe earnings growth will be more evenly spread across the year. Somewhat higher investments partly offset the yoy benefit from last July’s 5.4% price increase, which would have caused the higher earnings growth in the first half versus ...
PARIS--(BUSINESS WIRE)-- Regulatory News: Maurel & Prom (Paris:MAU): Production en part M&P au T1 2024 : 38 305 bep/j, en hausse de 13% par rapport au T4 2023 Production d’huile en part M&P de 15 499 b/j au Gabon, en augmentation de 8% par rapport au T4 2023 Production d’huile en part M&P de 4 634 b/j en Angola, en hausse de 2% par rapport au T4 2023 Production de gaz en part M&P de 76,9 Mpc/j en Tanzanie, en augmentation de 34% par rapport au T4 2023 Production d’huile en part M&P de 5 353 b/j au Venezuela, stable par rapport au T4 2023 Chiffre d’affaires de 212 M$ au T...
KPN AGM approves all agenda items Today, Royal KPN N.V.'s ("KPN") Annual General Meeting of Shareholders ("AGM") granted the requested approvals on all items on the agenda. The agenda included a resolution to declare a total dividend over the fiscal year 2023 of € 15.0 cents per ordinary share. As a result, a final dividend of € 9.8 cents per ordinary share will be paid in cash, net of 15% dividend withholding tax, on 25 April 2024. As of 19 April 2024, the shares trade ex-dividend. Furthermore, the AGM decided to adopt the Remuneration policy for the Board of Management and Supervisory B...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: NATURGY, SECTOR BANCOS, TALGO, TELEFONICA. EUROPA: ENI, KERING. 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. Con Oriente Medio en el punto de mira Inicio de la semana positivo en los mercados europeos a pesar del ataque sin consecuencias...
NEWS SUMMARY: BANKING SECTOR, NATURGY, TALGO, TELEFÓNICA. 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. All eyes on the Middle East European stock markets saw a good start to the week despite Iran’s attack without consequences against Israel last weekend and with sovereign yields widening significantly (US yield abov...
KPN reports on progress of € 200m share buyback KPN has repurchased 2,000,000 KPN ordinary shares in the period from 8 April to 12 April 2024. The shares were repurchased at an average price of € 3.43 per share for a total consideration of € 6.9m. 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 45,981,404 for a total consideration of € 152.3m. Transaction details of the share buyback are avail...
The logistics market is our preferred real estate segment, where the coming growth remains undervalued. We prefer the high growth stock within this segment, CTP. We also have Outperform recommendations on Argan, Montea and VGP. We believe WDP is fully valued, though. - ...
The logistics market is our preferred real estate segment, where the coming growth remains undervalued. We prefer the high growth stock within this segment, CTP. We also have Outperform recommendations on Argan, Montea and VGP. We believe WDP is fully valued, though. - ...
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