reports
- Benoit Valleaux
- Roland Pfaender
- MBA
- CFA
- CCRA
AXA : Significant price increases in P&C personal lines
>Group revenues up 6% l-f-l in Q1 - AXA reported its Q1 activity indicators after trading yesterday evening and will hold its investor conference this morning. Total group revenues came in at € 33.972bn (+6.8% reported, +6% l-f-l), slightly below our forecast (€ 34.345bn), but just ahead of the consensus (€ 33.776bn). In P&C, revenues amounted to € 19.8bn (+7% l-f-l), with growth for both commercial lines (+7% l-f-l) and personal lines (+6% l-f-l), as well as an in...
- Benoit Valleaux
- Roland Pfaender
- MBA
- CFA
- CCRA
AXA : Fortes augmentations tarifaires en assurance dommages de particu...
>Les revenus du groupe sont en hausse de 6% en comparable au T1 - AXA a publié hier soir après Bourse ses indicateurs d’activité du T1 et tiendra ce matin sa conférence téléphonique investisseurs. Les revenus totaux du groupe se sont élevés à 33 972 M€ (+6.8% en publié, +6% à données comparables), légèrement inférieurs à notre attente (34 345 M€), mais légèrement supérieurs au consensus (33 776 M€). En assurance dommages, les revenus ont été de 19.8 Md€ (+7% à donnée...
SES : MODIFICATION DU PROGRAMME DE RACHAT DE TITRES
LUXEMBOURG--(BUSINESS WIRE)-- Regulatory News: Société anonyme de droit luxembourgeois ayant son siège social Château de Betzdorf, L-6815 Betzdorf immatriculée au registre de commerce et des sociétés de Luxembourg B 81.267 MODIFICATION DU PROGRAMME DE RACHAT DE TITRES Descriptif de ce programme établi en application des dispositions de l'article 241-2 du règlement général de l'Autorité des marchés financiers Ce communiqué modifie le programme publié le 2 novembre 2023. 2 mai 2024 - Le présent communiqué a pour objet, conformément aux dispositions de l'article 241-2 du règlement gé...
- Carole Braudeau
- Konrad Zomer
- Thomas Zlowodzki
LHA DEUTSCHE LUFTHANSA AG
MT ARCELORMITTAL SA
GALP GALP ENERGIA SGPS SA CLASS B
DBK DEUTSCHE BANK AG
FORTUM FORTUM OYJ
DAI DAIMLER AG
RXL REXEL SA
TEP TELEPERFORMANCE SE
WKL WOLTERS KLUWER NV
REE RED ELECTRICA CORP. SA
ORSTED ORSTED
GN GN STORE NORD A/S
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
NEM NEMETSCHEK SE
RAA RATIONAL AG
AENA AENA SME SA
CABK CAIXABANK SA
WLN WORLDLINE SA
INGA ING GROEP NV
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
STLA STELLANTIS N.V.
SHEL SHELL PLC
GSK GSK PLC
DSFIR KONINKLIJKE DSM N.V.
NOVO B NOVO NORDISK A/S
- Konrad Zomer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/02/2024
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. - ...
LHA DEUTSCHE LUFTHANSA AG
MT ARCELORMITTAL SA
GALP GALP ENERGIA SGPS SA CLASS B
DBK DEUTSCHE BANK AG
FORTUM FORTUM OYJ
DAI DAIMLER AG
RXL REXEL SA
TEP TELEPERFORMANCE SE
WKL WOLTERS KLUWER NV
REE RED ELECTRICA CORP. SA
ORSTED ORSTED
GN GN STORE NORD A/S
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
NEM NEMETSCHEK SE
RAA RATIONAL AG
AENA AENA SME SA
CABK CAIXABANK SA
WLN WORLDLINE SA
INGA ING GROEP NV
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
STLA STELLANTIS N.V.
SHEL SHELL PLC
GSK GSK PLC
DSFIR KONINKLIJKE DSM N.V.
NOVO B NOVO NORDISK A/S
- Carole Braudeau
- Emmanuel Matot
- Martin Marandon-Carlhian
Worldline : Start of the year lends credence to 2024 targets
>Organic growth low but ahead of expectations - Worldline reported its Q1 2024 revenues. Organic growth was weak at +2.5%, but above expectations (ODDO BHF / consensus = +1.2/+0.7%) and marks an improvement on the low point of Q4 2023 (+1.3%).Merchant Services turned out to be stronger than expected (+3.9%, of which +6.5% excluding planned merchant termination- Q4 2023 reminder = +3.2%) thanks to good results in new markets (such as Italy). Unsurprisingly, Financ...
- ING Helpdesk
Benelux Morning Notes
Aedifica: First sign of portfolio valuation stabilization. ArcelorMittal: Solid 1Q24 EBITDA beat, softer FCF reflects WC and CAPEX phasing. Belgian telcos: Peer Telenet 1Q24 results, still weak commercial performance. dsm-firmenich AG: Vita-still not-min. IBA: Contract to install a P1 system in Connecticut. KPN: VodafoneZiggo 1Q24 results confirm fixed losses, mobile weaker QoQ. Shell plc: Good start to the year
- Emmanuel Matot
- Martin Marandon-Carlhian
Worldline : Début d’année apportant du crédit aux objectifs 2024
>Croissance organique faible au T1 mais au-dessus des attentes - Worldline vient de publier son CA au titre du T1 2024. Il fait ressortir une croissance organique faible à +2.5% mais au-dessus des attentes (ODDO BHF / consensus = +1.2/+0.7%) et en amélioration par rapport au point bas du T4 2023 (+1.3%).Les Services aux Commerçants s’avèrent plus dynamique que prévu (+3.9% dont +6.5% hors arrêt planifié de commerçants – rappel T4 2023 = +3.2%) grâce à de bons rés...
WORLDLINE : Q1 2024 revenue
WORLDLINE : Q1 2024 revenue Q1 2024 revenueQ1 2024 Group revenue: € 1,097 million +2.5% organically +3.9% in Merchant Services Transformation initiatives on trackRedesign of Merchant Services operating model with two new go-to-market channelsPower24 transformation plan in motion and rolled-out in targeted countries Launch of Crédit Agricole and Worldline joint-venture Unconditional approval received from the European Commission in MarchJV to operate under new brand CAWL, providing innovative payment services to all merchants in France Governance updateWilfried Verstraete coopted as futu...
- David Vagman
- CFA
SES Share Buy Back - Repurchase Report
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...
- Jan Frederik Slijkerman
- Jeroen van den Broek
- Jesse Norcross
- Nadège Tillier
- Timothy Rahill
WORLDLINE: 2023 Universal Registration Document available
WORLDLINE: 2023 Universal Registration Document available 2023 Universal Registration Document available Paris La Défense, April 30, 2024 – Worldline [Euronext: WLN], a global leader in payments services, today announces the filing of its 2023 Universal Registration Document with the French Financial Markets Authority (AMF) in ESEF format (European Single Electronic Format) in French version on Tuesday, April 30, 2024, under number D.24-0377. The Universal Registration Document is available to the public in accordance with the applicable regulations and may be consulted on the Company’s w...
WORLDLINE : Mise à disposition du Document d’Enregistrement Universel ...
WORLDLINE : Mise à disposition du Document d’Enregistrement Universel 2023 Mise à disposition duDocument d’Enregistrement Universel 2023 Paris La Défense, le 30 avril 2024 – Worldline [Euronext : WLN], un leader mondial des paiements, annonce que son Document d’Enregistrement Universel 2023 a été déposé auprès de l’Autorité des marchés financiers (AMF) au format ESEF (European Single Electronic Format) le mardi 30 avril 2024, sous le numéro D.24-0377. Le Document d’Enregistrement Universel est tenu à la disposition du public dans les conditions prévues par la réglementation en vigueur et ...
Nicklaus Children’s Health System, Philips to provide innovative patie...
Nicklaus Children’s Health System, Philips to provide innovative patient and staff experience, helping to enhance outcomes for the smallest of patients April 30, 2024 Philips AI-enabled diagnostic and experiential technologies help put patients at ease while empowering staff with faster, high-quality scans and increased diagnostic confidence Amsterdam, the Netherlands, and Miami, US – (NYSE: PHG, AEX: PHIA), a global leader in health technology, and Nicklaus Children’s Health System, a nationally recognized leader in pediatric care, today announced a 10-year long-term strategic collabora...
SES to Acquire Intelsat in Compelling Transaction Focused on the Futur...
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...
SES Q1 2024 Results
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...
- Marc Hesselink
- CFA
- Thymen Rundberg
Philips/Very welcome clearing event/HOLD
At its 1Q24 update Philips surprised the market with a personal injury settlement which has been made much sooner than expected and, at €1bn, is a much lower cost than the €3bn we had in our model. We believe this is a major positive for the investment case. We increase our target price from €19 to €25. We stick to our HOLD rating as: (1) current trading conditions are mixed; and (2) valuation is now fair compared to peers.
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