reports
- ING Helpdesk
Benelux Morning Notes
Ahold Delhaize: Walmart 1Q24/25 results. Azelis: Share placement by EQT and PSP. Belgian telcos: Digi mobile prices to be well below competition, targets 10% mkt share. EVS: Slow start, sales guidance held on strong pipeline, EBIT guidance below consensus. Exmar: Stable start to the year. Prosus: Fabricio Bloisi (CEO iFood) appointed as group CEO. Sif Group: 1Q24 pretty much in line, timing shifts a bit
Fabricio Bloisi Appointed CEO, Prosus and Naspers
AMSTERDAM, Netherlands--(BUSINESS WIRE)-- Prosus N.V. (AEX: PRX) today announced that the Boards of Prosus and Naspers have unanimously approved the appointment of Fabricio Bloisi as Chief Executive Officer (CEO), Prosus and Naspers Group (“the Group”). The appointment is effective as of 1 July 2024. Fabricio Bloisi assumes the role of Group CEO from his role as CEO, iFood. Fabricio acquired iFood in 2013 when it was a 20-person start-up. He has since grown it rapidly and profitably to become Brazil’s leading food delivery company. Fabricio is a proven entrepreneur and innovator with deep ro...
- Ahmed Ben Salem
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/16/2024
We have tactically downgraded the energy sector from Overweight to Neutral (excl. oil services on which we are maintaining our Overweight rating) and dropped Shell Plc from our Large Caps list. The IEA report has accelerated the downswing for the energy sector, which could continue in the days ahead. June will be a better month to come back to the sector. - ...
UBI UBISOFT ENTERTAINMENT SA
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
AAL ANGLO AMERICAN PLC
GBF BILFINGER SE
ALV ALLIANZ SE
KBC KBC GROUP N.V.
CPG COMPASS GROUP PLC
BRBY BURBERRY GROUP PLC
RF EURAZEO SA
VOE VOESTALPINE AG
EOAN E.ON SE
ENI ENI S.P.A.
RWE RWE AG
EZJ EASYJET PLC
DTE DEUTSCHE TELEKOM AG
TLX TALANX AG
REP REPSOL SA
HLAG HAPAG-LLOYD AG
AD KONINKLIJKE AHOLD DELHAIZE N.V.
SIE SIEMENS AG
BP. BP P.L.C.
SHEL SHELL PLC
AGN AEGON N.V.
SYENS SYENSQO
- Geoffroy Michalet
Eurazeo : ANR/Bilan stable, sans surprise. Décote totale de c.30% selo...
>Un T1 soft, sans surprise, pas nécessairement à l’image du reste de l’année. - Pour rappel, lors des publications trimestrielles, Eurazeo n’évalue pas son portefeuille non coté et ne détient pas de sociétés cotées. Ainsi, sans surprise, Eurazeo publie un ANR bilan de 109.9 €/action au titre de son T1 2024, très proche du niveau de fin 2023 à 109.6 €.Les AUM globaux ressortent à 34.8 Md€, en hausse de 8% sur 12 mois et stables sur le trimestre. Les AUM pour compt...
- Geoffroy Michalet
Eurazeo : NAV/balance sheet stable, unsurprisingly. Total discount of ...
>A soft first quarter, but not necessarily a reflection of the rest of the year - To recap, in quarterly releases, Eurazeo does not evaluate its unlisted portfolio and does not hold any listed firms. As such, unsurprisingly, Eurazeo reported a balance sheet NAV of € 109.9 a share for Q1 2024, very close to the level at end-2023 at € 109.6.Overall AuM came in at € 34.8bn, up 8% over 12 months and stable on the quarter. AuM for third parties thus came in 9% higher ...
- Ahmed Ben Salem
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 16/05/2024
Nous dégradons tactiquement à Neutre le secteur de l’énergie (hors Services Pétroliers sur lesquels nous conservons une opinion Surperformance) et faisons sortir Shell plc de notre liste Large Caps. Le rapport AIE a accéléré la baisse du secteur énergie, qui pourrait se poursuivre dans les jours qui viennent. Juin sera un meilleur mois pour revenir sur le secteur. - ...
UBI UBISOFT ENTERTAINMENT SA
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
AAL ANGLO AMERICAN PLC
GBF BILFINGER SE
ALV ALLIANZ SE
KBC KBC GROUP N.V.
CPG COMPASS GROUP PLC
BRBY BURBERRY GROUP PLC
RF EURAZEO SA
VOE VOESTALPINE AG
EOAN E.ON SE
ENI ENI S.P.A.
RWE RWE AG
EZJ EASYJET PLC
DTE DEUTSCHE TELEKOM AG
TLX TALANX AG
REP REPSOL SA
HLAG HAPAG-LLOYD AG
AD KONINKLIJKE AHOLD DELHAIZE N.V.
SIE SIEMENS AG
BP. BP P.L.C.
SHEL SHELL PLC
AGN AEGON N.V.
SYENS SYENSQO
Pernod Ricard’s Net-zero Science-based Targets in Line with a 1.5°C Tr...
PARIS--(BUSINESS WIRE)-- Regulatory News: Pernod Ricard (Paris:RI): Press release – Paris, May 16th 2024 Pernod Ricard announces today that its near- and long-term science-based GHG emissions reduction targets in line with a 1.5°C trajectory have been approved by the Science Based Targets initiative (SBTi) with the following timeline: - In the near-term, Pernod Ricard commits to reducing absolute scope 1 & 2 emissions by 54% by FY30 from a FY22 baseline. The Group also commits to reducing absolute scope 3 FLAG (forest, land and agriculture) emissions by 30.3% and non-FLAG emissions (pu...
Les objectifs zéro émission nette de Pernod Ricard, en ligne avec la t...
PARIS--(BUSINESS WIRE)-- Regulatory News: Pernod Ricard (Paris:RI): Communiqué de presse – Paris, le 16 mai 2024 Pernod Ricard annonce aujourd’hui que ses objectifs à court et long terme de réduction d’émissions de gaz à effet de serre (GES), fondés sur des données scientifiques et conformes à la trajectoire de + 1,5°C, ont été approuvés par l’initiative Science Based Targets (SBTi) selon le calendrier suivant : - A court terme, Pernod Ricard s’engage à réduire les émissions absolues des scopes 1 et 2 de 54 % d’ici à 2030 par rapport à 2022 (exercice de référence). Le Groupe s’engage...
- Joren Van Aken
Eurazeo - Q1 24: Slow start to the year
• Q1 24 AuM at EUR 34.8bn, slightly down QoQ• No significant fundraising closings and an uptick in distributions resulting in subdued growth which should accelerate during the rest of year (calendar effect)• Nonetheless, some investors may be surprised by this temporary hiccup especially as there is no quarterly valuation for the portfolio• Our investment case still stands, which is based on an expected recovery in exits in the latter part of the year which should be at decent prices and should ...
- ING Helpdesk
Benelux Morning Notes
ABN AMRO: 1Q24 Preview. ABN AMRO: Press reports on sale of French Life Neuflize JV with AXA. Agfa-Geveart: A miss on every line. ASR: Dutch residential rental income risk insignificant. B&S Group: Solid start to the year, costs under control. DEME Group: 1Q solidifies FY24 revenue outlook. GBL: Accelerating its share buybacks. Just Eat Takeaway.com: M&A appetite. OCI: Improving 1Q24 performance at RemainCo assets, strategic update due on 2Q24
ABB et le Groupe Niedax forment une coentreprise pour répondre à la de...
ABB et le Groupe Niedax forment une coentreprise pour répondre à la demande grandissante de systèmes de chemins de câbles en Amérique du Nord Intègre les forces d'ABB et du Groupe Niedax pour offrir une gamme de solutions exhaustive et améliorer la valeur pour le clientAccroît les capacités de fabrication de chemins de câbles en Amérique du Nord pour répondre aux besoins des clients en évolution constanteSe fonde sur des décennies d'innovation pour accélérer la collaboration et le développement de produits ZURICH, Suisse, 08 mai 2024 (GLOBE NEWSWIRE) -- ABB, chef de file en électrificati...
ABB and Niedax Group to create joint venture to meet growing demand fo...
ABB and Niedax Group to create joint venture to meet growing demand for cable tray systems in North America Integrates strengths of ABB and Niedax Group to deliver a complete solution offering and enhanced customer valueExpands North American cable tray manufacturing capabilities to serve evolving customer needsBuilds on decades of innovation to accelerate collaboration and product development ZÜRICH, Switzerland, May 08, 2024 (GLOBE NEWSWIRE) -- Electrification and automation leader ABB and Niedax Group, a leading global supplier of cable management systems, have entered into an agreeme...
- Jerôme Bodin
INFINEON INFINEON TECHNOLOGIES AG
BMW BAYERISCHE MOTOREN WERKE AG
G1A GEA GROUP AG
PUM PUMA SE
AFX CARL ZEISS MEDITEC AG
UTDI UNITED INTERNET AG
ALO ALSTOM SA
ELE ENDESA S.A.
GEBN GEBERIT AG
RWE RWE AG
FRE FRESENIUS SE & CO. KGAA
HEI HEIDELBERGCEMENT AG
VER VERBUND AG CLASS A
RY4C RYANAIR HOLDINGS PLC
RTLL RTL GROUP S.A.
SIX2 SIXT SE
BC8 BECHTLE AG
AMS AMADEUS IT GROUP SA CLASS A
EVK EVONIK INDUSTRIES AG
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
RACE FERRARI NV
ABI ANHEUSER-BUSCH INBEV SA/NV
LDO LEONARDO SPA
AD KONINKLIJKE AHOLD DELHAIZE N.V.
AZN ASTRAZENECA PLC
BP. BP P.L.C.
KBX KNORR-BREMSE AG
CPR DAVIDE CAMPARI-MILANO N.V.
ENR SIEMENS ENERGY AG
UN0 UNIPER SE
- Jerôme Bodin
INFINEON INFINEON TECHNOLOGIES AG
BMW BAYERISCHE MOTOREN WERKE AG
G1A GEA GROUP AG
PUM PUMA SE
AFX CARL ZEISS MEDITEC AG
UTDI UNITED INTERNET AG
ALO ALSTOM SA
ELE ENDESA S.A.
GEBN GEBERIT AG
RWE RWE AG
FRE FRESENIUS SE & CO. KGAA
HEI HEIDELBERGCEMENT AG
VER VERBUND AG CLASS A
RY4C RYANAIR HOLDINGS PLC
RTLL RTL GROUP S.A.
SIX2 SIXT SE
BC8 BECHTLE AG
AMS AMADEUS IT GROUP SA CLASS A
UCG UNICREDIT S.P.A.
EVK EVONIK INDUSTRIES AG
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
RACE FERRARI NV
ABI ANHEUSER-BUSCH INBEV SA/NV
LDO LEONARDO SPA
AD KONINKLIJKE AHOLD DELHAIZE N.V.
AZN ASTRAZENECA PLC
BP. BP P.L.C.
KBX KNORR-BREMSE AG
CPR DAVIDE CAMPARI-MILANO N.V.
ENR SIEMENS ENERGY AG
UN0 UNIPER SE
- Arnaud Autier
- Pierre Tegner
Campari : Q1 2024 results in line and FY 2024 guidance maintained
>Underperform rating maintain with the target price unchanged at € 8.6 - We are sticking with our Underperform rating and our target price of € 8.6. The valuation at 27x P/E NTM faithfully reflects the group’s fundamentals with a profile that is increasingly approaching that of a diversified pure-player in the spirits sector, like Diageo and Pernod Ricard. Moreover, in the short term, uncertainties on the trajectory of the 2024 operating margin, which has yet to retur...
- Arnaud Autier
- Pierre Tegner
Campari : Résultats T1 24e en ligne et maintien de la guidance FY 24e
>Sous-performance maintenue avec un OC inchangé à 8.6 € - Nous maintenons notre opinion à Sous-performance sur le titre et notre OC à 8.6 €. La valorisation à 27x de PE NTM reflète fidèlement les fondamentaux du groupe dont le profil se rapproche de plus en plus de celui d’un pure-player diversifié du secteur des spiritueux à l’instar de Diageo et Pernod Ricard. En outre, à court terme, les incertitudes sur la trajectoire de la MOP 24e, dont le niveau n’a toujours pas...
Pernod Ricard : déclaration des droits de vote - avril 2024
PARIS--(BUSINESS WIRE)-- Regulatory News: Pernod Ricard (Paris:RI): En application des articles 221-1 et 223-16 du Règlement Général de l'AMF, les émetteurs publient par communiqué et sur leur site Internet, le nombre total de droits de vote et le nombre d'actions composant le capital de la société s'ils ont varié par rapport à ceux publiés antérieurement : Situation au 30.04.2024 1) Nombre total d'actions en circulation composant le capital de la société 255 631 733 2) Nombre total de droits de vote hors droits de vote suspendus 302 588 940 ...
- Martin Marandon-Carlhian
- Stephane Houri
FME FRESENIUS MEDICAL CARE AG & CO. KGAA
RCO REMY COINTREAU SA
LONN LONZA GROUP AG
EN BOUYGUES SA
ADEN ADECCO GROUP AG
SCR SCOR SE
ZAL ZALANDO SE
GEBN GEBERIT AG
HEI HEIDELBERGCEMENT AG
SOLB SOLVAY SA
COLO B COLOPLAST A/S CLASS B
BP. BP P.L.C.
SHL SIEMENS HEALTHINEERS AG
UN0 UNIPER SE
- Martin Marandon-Carlhian
- Stephane Houri
INFINEON INFINEON TECHNOLOGIES AG
FME FRESENIUS MEDICAL CARE AG & CO. KGAA
RCO REMY COINTREAU SA
LONN LONZA GROUP AG
EN BOUYGUES SA
ADEN ADECCO GROUP AG
SCR SCOR SE
ZAL ZALANDO SE
GEBN GEBERIT AG
HEI HEIDELBERGCEMENT AG
SOLB SOLVAY SA
COLO B COLOPLAST A/S CLASS B
BP. BP P.L.C.
SHL SIEMENS HEALTHINEERS AG
UN0 UNIPER SE
- Arnaud Autier
- Pierre Tegner
Remy Cointreau : Meeting between Emmanuel Macron and Xi Jinping: const...
>Outperform rating maintained with unchanged target price of € 125 - We are maintaining our Outperform rating, with an unchanged target price of € 125. The valuation remains attractive at 24x for NTM P/E, in absolute and relative terms, for a stock with high-quality fundamentals and which should return to growth in FY 2024-25e.The French business daily Les Echos yesterday published an article concerning Xi Jinping’s pledge to Emmanuel Macron to spare the French c...
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