reports
- Martial Descoutures
- Oussema Denguir
MC LVMH MOET HENNESSY LOUIS VUITTON SE
DKSH DKSH HOLDING AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
F3C SFC ENERGY AG
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
01913 PRADA S.P.A.
GREEN GREENYARD NV
MONC MONCLER SPA
EDR EDREAMS ODIGEO SA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
SLR SOLARIA ENERGIA Y MEDIO AMBIENTE S.A.
VOS VOSSLOH AG
EFIC1 EUROPEAN FINTECH IPO CO 1 BV
AELIS AELIS FARMA SA
NCH2 THYSSENKRUPP NUCERA AG & CO.
SPG SPRINGER NATURE AG & CO. KGAA
- Martial Descoutures
- Oussema Denguir
MC LVMH MOET HENNESSY LOUIS VUITTON SE
DKSH DKSH HOLDING AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
F3C SFC ENERGY AG
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
01913 PRADA S.P.A.
GREEN GREENYARD NV
MONC MONCLER SPA
EDR EDREAMS ODIGEO SA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
SLR SOLARIA ENERGIA Y MEDIO AMBIENTE S.A.
VOS VOSSLOH AG
EFIC1 EUROPEAN FINTECH IPO CO 1 BV
AELIS AELIS FARMA SA
NCH2 THYSSENKRUPP NUCERA AG & CO.
SPG SPRINGER NATURE AG & CO. KGAA
- Hela Zarrouk
DKSH : Well-defined midterm strategy focused on growth, margin improve...
>Midterm strategy based on growth, margin improvement and M&A - At the CMD held in London yesterday, DKSH’s management provided an update on its midterm growth opportunities with a focus on continuing growth, margin improvement and accelerating M&A. Growth: it is looking to continue regular top line growth (2019-2023 CAGR: +3.3% cc), fuelled by: 1/ structural market growth (economic outlook, favourable demographic trends, increasing outsourcing and digitalisation, gre...
- Hela Zarrouk
DKSH : Stratégie MT bien définie axée sur la croissance, l’amélioratio...
>Une stratégie MT basée sur la croissance, l’amélioration de la marge et le M&A - Lors d’un CMD organisé hier à Londres, le management du groupe DKSH est revenu sur les opportunités de croissance à MT avec un focus sur la poursuite de la croissance, l’amélioration de la marge et l’accélération du M&A. Croissance : le groupe ambitionne de poursuivre une croissance régulière de son CA (TMVA 19-23 : +3.3% à tcc) alimentée par : 1/ la croissance structurelle des marchés (...
DKSH Sets Strategic Priorities of Growth, Margin Expansion, and Accele...
DKSH Management Ltd. / Key word(s): Conference DKSH Sets Strategic Priorities of Growth, Margin Expansion, and Accelerated M&A at Its Capital Markets Day 2024 18.11.2024 / 07:00 CET/CEST Media release At today’s Capital Markets Day in London, DKSH outlines its mid-term roadmap based on the strategic priorities of growth, margin expansion, and accelerated M&A. The company presents updated Business Unit strategies and at the same time drives sustainability by committing to set a science based target. DKSH reconfirms its outlook for 2024. London, United Kingdom, November 18, 2...
DKSH Holding AG: 1 director
A director at DKSH Holding AG bought 1,500 shares at 63.800CHF and the significance rating of the trade was 60/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearl...
DKSH Performance Materials Extends its Life Science Business in Portug...
DKSH Management Ltd. / Key word(s): Takeover DKSH Performance Materials Extends its Life Science Business in Portugal by Acquiring Euroingredientes 06.08.2024 / 07:00 CET/CEST Media releaseDKSH has announced today that it signed an agreement to acquire Euroingredientes in Portugal. The acquisition enables DKSH Performance Materials Portugal to establish a strategic footprint in the food market with a unique product portfolio of food ingredients and nutraceuticals. Zurich, Switzerland, August 6, 2024 – Through the acquisition of Euroingredientes, DKSH Performance Materials secures a...
- Baptiste Salaville
- Fehmi Ben Naamane
- Jean-Baptiste Rouphael
- Marc Lavaud
- Oddo Sustainability Team
ODDO BHF Small & MIDCAP MORNING NEWS - 23/07/2024
Oerlikon, leader in attractive niche markets with technology entry barriers, is about to enter the final chapter of its group transition into a Surface Solutions pure play via the planned separation of Polymer Processing Solutions (OPP) in the next 12-36 months. After the strong performance YTD, we are seeing no further significant upside from here for now. We are rating Oerlikon’s shares Neutral with a TP of CHF 5.2. - ...
DKSH DKSH HOLDING AG
WTB WHITBREAD PLC
IDL ID LOGISTICS GROUP
EXE EXEL INDUSTRIES SA
POM PLASTIC OMNIUM SE
ITP INTERPARFUMS
BEN BENETEAU SA
WHA WERELDHAVE N.V.
SHA SCHAEFFLER AG
DLG DE'LONGHI S.P.A.
CIE CIE AUTOMOTIVE S.A.
SHOT SCANDIC HOTELS GROUP
NVG NAVIGATOR COMPANY SA
MEL MELIA HOTELS INTERNATIONAL S.A.
NHH NH HOTEL GROUP SA
ALM ALMIRALL SA
IHG INTERCONTINENTAL HOTELS GROUP PLC
DSC1 DUTCH STAR C SHAR
VTSC VITESCO TECHNOLOGIES GRP AG
- Baptiste Salaville
- Fehmi Ben Naamane
- Jean-Baptiste Rouphael
- Marc Lavaud
- Oddo Sustainability Team
ODDO BHF Small & MIDCAP MORNING NEWS - 07/23/2024
Oerlikon, leader in attractive niche markets with technology entry barriers, is about to enter the final chapter of its group transition into a Surface Solutions pure play via the planned separation of Polymer Processing Solutions (OPP) in the next 12-36 months. After the strong performance YTD, we are seeing no further significant upside from here for now. We are rating Oerlikon’s shares Neutral with a TP of CHF 5.2. - ...
DKSH DKSH HOLDING AG
WTB WHITBREAD PLC
IDL ID LOGISTICS GROUP
EXE EXEL INDUSTRIES SA
POM PLASTIC OMNIUM SE
ITP INTERPARFUMS
BEN BENETEAU SA
WHA WERELDHAVE N.V.
SHA SCHAEFFLER AG
DLG DE'LONGHI S.P.A.
CIE CIE AUTOMOTIVE S.A.
SHOT SCANDIC HOTELS GROUP
NVG NAVIGATOR COMPANY SA
MEL MELIA HOTELS INTERNATIONAL S.A.
NHH NH HOTEL GROUP SA
ALM ALMIRALL SA
IHG INTERCONTINENTAL HOTELS GROUP PLC
DSC1 DUTCH STAR C SHAR
VTSC VITESCO TECHNOLOGIES GRP AG
- Hela Zarrouk
DKSH : Feedback roadshow: a reassuring message for the short and mediu...
>Assets identified to support growth and improve profitability - During a roadshow organised with the management of the DKSH group with its CEO, CFO, and Head of IR, we took stock of the latest business trends for H1 and growth opportunities for the short and medium. Overall, we found management confident in its ability to continue its dynamic sales growth at cc (growth > the average GDP of its main markets), to gradually improve its profitability thanks to a favourab...
- Hela Zarrouk
DKSH : Feedback roadshow : des propos rassurants sur le court et moyen...
>Des atouts identifiés pour soutenir la croissance et améliorer la profitabilité - Lors d’un roadshow organisé avec le management du groupe DKSH avec son CEO, son CFO, et son Head of IR, nous avons fait le point sur les dernières tendances d’activité relatives au S1 et les opportunités de croissance à CT/MT. Globalement, nous avons trouvé le management confiant quant à sa capacité à poursuivre une croissance dynamique de son CA à tcc (> croissance du PIB moyen de ses ...
- Anthony Dick
- Hela Zarrouk
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 07/17/2024
After a disappointing performance (down 21% since the IPO), we have decided to take our losses on Daimler Truck following its Q2 2024 results release, in which the company decided to write down the value of its Chinese joint venture by € 120m in a ‘persistently weak market environment’. - ...
- Anthony Dick
- Hela Zarrouk
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 17/07/2024
Après un parcours décevant (-21% depuis son entrée), nous décidons de prendre nos pertes sur Daimler Truck à l’occasion de la publication des résultats T2 où la société a décidé de passer une dépréciation de 120 M€ sur sa JV chinoise dans un « environnement de marché durablement faible » - ...
- Hela Zarrouk
DKSH : A good start to the year confirming the full-year targets
>The healthcare and consumer goods activities underpinned growth in H1 - At the conference call, DKSH's management reviewed the H1 2024 results as well as the outlook for H2. We note the following points:Consolidated sales were CHF 5,441.1m in H1, down 3.2% on a reported basis, but up 2.3% organic and +3.3% at constant currency (cc). M&A contributed +1% of growth, whilst the currency effect was strongly negative (-6.5%) due to the marked appreciation of the Swiss...
- Hela Zarrouk
DKSH : Un bon début d’exercice confirmant les objectifs annuels
>Les BU Healthcare et Consumer Goods ont porté la croissance au S1 - Lors d’une conférence téléphonique, le management de DKSH est revenu sur les résultats du S1 2024 ainsi que les perspectives sur le S2. Nous retenons essentiellement les points suivants :Le CA consolidé au S1 ressort à 5 441.1 MCHF en baisse de 3.2% en publié, mais en hausse de 2.3% en organique et +3.3% à tcc. Le M&A a contribué à hauteur de +1%, alors que l’impact changes était fortement négat...
- Aurelien Sivignon
ODDO BHF Small & MIDCAP MORNING NEWS - 07/16/2024
The new roadmap, unveiled at the CMD held on 19 June, reveals a potential for value creation based on growth of at least 10% per year in the digital and locker businesses and a sharp upswing in their profitability, enabling these two units to turn in EBITDA margins estimated at 20-30%, close to the margins delivered by the core business (20-25%). We expect the 2023-30 EBIT CAGR to work out at +7.2%, i.e. nearly a 500bp upsurge in the current operating margin, with the digital and lock...
- Aurelien Sivignon
ODDO BHF Small & MIDCAP MORNING NEWS - 16/07/2024
La nouvelle feuille de route, dévoilée lors du CMD du 19 juin, révèle un potentiel de création de valeur à l’appui d’une croissance d’au moins 10% par an des activités Digital et Lockers et d’un net redressement de leur profitabilité pour atteindre des marges d’EBITDA (20/30%) voisines de celle de l’activité historique (20/25%). Nous tablons sur un TMVA 2023/30e de l’EBIT de +7.2%, soit une MOPC en amélioration de près de 500 pb avec une contribution de Digital + Lockers de près de 50...
- Hela Zarrouk
DKSH : H1 results broadly in line with expectations - FY 2024 outlook ...
>H1 organic growth at 2.3% (3.1% e); core EBIT at CHF 163.6m (ODDO BHF: CHF 157m; css: CHF 159.6m); margin up 10bp to 3.0% - DKSH just published its HY 2024 results which came in slightly above expectations (~+3% at the core EBIT level). In detail, we note: 1/ H1 consolidated sales totalled CHF 5441.1m (ODDO BHF: CHF 5476.7m; css: CHF 5465.4m), down 3.2% on a reported basis, but +2.3% organically (ODDO BHF: +3.1%e; css: +3.0%e). M&A contributed by +1.0%, while the cur...
- Hela Zarrouk
DKSH : H1 results broadly in line with expectations - FY 2024 outlook ...
>H1 organic growth at 2.3% (3.1% e); core EBIT at CHF 163.6m (ODDO BHF: CHF 157m; css: CHF 159.6m); margin up 10bp to 3.0% - DKSH just published its HY 2024 results which came in slightly above expectations (~+3% at the core EBIT level). In detail, we note: 1/ H1 consolidated sales totalled CHF 5441.1m (ODDO BHF: CHF 5476.7m; css: CHF 5465.4m), down 3.2% on a reported basis, but +2.3% organically (ODDO BHF: +3.1%e; css: +3.0%e). M&A contributed by +1.0%, while the cur...
- Hela Zarrouk
DKSH : A first-class partner in market expansion across Asia
We are initiating coverage of DKSH with an Outperform rating and a target price of CHF 76. The group boasts a leading position in market expansion services (MES) in Asia-Pacific, operating in growth segments, mainly Healthcare, Technology, Performance Materials, and Consumer Goods with potential for more favourable trends in its business mix (higher margins for Performance Materials and Technology) and a healthy balance sheet shored up by solid FCF generation, with the FCF yield ...
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