INVEST SECURITIES - VALBIOTIS : Résultats 2023 conformes, un newsflow ...

ODDO BHF Small & MIDCAP MORNING NEWS - 04/17/2024 Date Performance sin...

NEXT can claim the leading position in the UK fashion category. Moreover, the company managed the transition from offline to online comparatively well. However, top-line growth should remain at 4% a year until 2026 as the business outside the UK is too small. The operating margin should decrease 40bp to 17.6% on higher wages and general Opex inflation. We initiate coverage with a Neutral rating and a TP of 8,900p (based on a peer group and DCF). - ...

ODDO BHF Small & MIDCAP MORNING NEWS - 17/04/2024 Date Performance dep...

NEXT can claim the leading position in the UK fashion category. Moreover, the company managed the transition from offline to online comparatively well. However, top-line growth should remain at 4% a year until 2026 as the business outside the UK is too small. The operating margin should decrease 40bp to 17.6% on higher wages and general Opex inflation. We initiate coverage with a Neutral rating and a TP of 8,900p (based on a peer group and DCF). - ...

Thermador Groupe : Q1 sales below expectations. A difficult start to t...

>Q1 2024 sales down 17.2% to € 141.2m (vs € 155m est.) - Yesterday evening, Thermador Groupe published Q1 sales below our forecasts. After a 9.7% l-f-l decline in Q4 2023, the group's activity accentuated this trend in Q1 2024 with sales of € 141.2m (vs € 155m est.) down 17.2%. This fully organic decline (plus the effect linked to DPI) was largely due to volumes (-15.2%) but also a negative price effect (-2%) despite the significant price increases introduced in H1 20...

Thermador Groupe : CA T1 en dessous des attentes. Un début d’année dif...

>CA T1 2023 en baisse de 17.2% à 141.2 M€ (vs 155 M€e) - Thermador Groupe a publié hier soir un CA T1 inférieur à notre attente. Après un T4 2023 en retrait de 9.7% lfl, l’activité du groupe a finalement accentué son recul au T1 2024 avec un CA de 141.2 M€ (vs 155 M€e) en baisse de 17.2%. La baisse totalement organique (plus d’effet lié à DPI) est essentiellement liée aux volumes (-15.2%) mais également à un effet prix négatif (-2%) malgré les hausses conséquentes pas...

Valbiotis : Commercialisation of “Valbiotis®PRO Cholesterol” in France...

>Totum-070 arrives on the French market in May 2024...as planned - In line with the previously announced targets, the group is to launch, on the French market, its first food supplement “Valbiotis®PRO Cholesterol”, composed entirely of Lipidrive® (ex-TOTUM 070), for the treatment of light to moderate hypercholesterolemia in May 2024. The drug will be promoted through in-house medical promotion officers (MPO) and will be available in pharmacies as well as on the compan...

Valbiotis : Commercialisation de « Valbiotis®PRO Cholestérol » en Fran...

>Totum-070 arrive sur le marché français en mai 2024… comme prévu - Conformément à ses objectifs préalablement annoncés, la société mettra sur le marché français son premier complément alimentaire « Valbiotis®PRO Cholestérol » composé exclusivement de Lipidrive® (ex-TOTUM 070), pour la prise en charge de l’hypercholestérolémie légère à modérée en mai 2024. Le médicament sera promu à travers des attachés à la promotion médicale (APM) internes et sera disponible en phar...

ODDO BHF Small & MIDCAP MORNING NEWS - 02/29/2024

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ODDO BHF Small & MIDCAP MORNING NEWS - 29/02/2024

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Thermador Groupe : FY 2023 results in line with our expectations

>FY 2023 underlying operating profit stable at € 80.8m, i.e. an underlying operating margin of 13.9% (vs 13.8% e) - Thermador reported yesterday evening FY 2023 results in line with our forecasts. With € 581m in previously published revenues, up 4.9% (-1.8% LfL), the underlying operating profit remained stable at € 80.8m (vs. € 80m est.), implying an underlying operating margin of 13.9% (vs. 13.8%e), down slightly by 50bp. Attributable net profit totalled € 58.3m (vs ...

Thermador Groupe : Résultats 2023 en ligne avec nos attentes

>ROC 2023 stable à 80.8 M€, soit une MOC de 13.9% (vs13.8%e) - Au titre de son exercice 2023, Thermador Groupe a publié hier soir des résultats en ligne avec nos attentes. Pour un CA déjà publié de 581 M€ en croissance de 4.9% (-1.8% lfl), le ROC reste stable à 80.8 M€ (vs 80 M€e) impliquant une MOC de 13.9% (vs 13.8%e) en légère baisse de 50 pb. Le RNpg s’établit à 58.3 M€ (vs 58.5 M€e). Le groupe proposera le versement d’un dividende de 2.08 € (vs 2.08 € en 2022) l...

INVEST SECURITIES - TOP PICKS MEDTECH : Dans la continuité de 2023

INVEST SECURITIES - TOP PICKS MEDTECH : Dans la continuité de 2023

Top picks Biotech : La prudence devra être de mise

Top picks Biotech : La prudence devra être de mise

ODDO BHF Small & MIDCAP MORNING NEWS - 01/16/2024

We host our 27th ODDO BHF Forum in Lyon in 11th and 12th January 2024 and virtually 15th and 16th January 2024. In total, 335 companies will be presenting. In the following note, we provide some initial feedback of the company on day 2. - ...

ODDO BHF Small & MIDCAP MORNING NEWS - 16/01/2024

We host our 27th ODDO BHF Forum in Lyon in 11th and 12th January 2024 and virtually 15th and 16th January 2024. In total, 335 companies will be presenting. In the following note, we provide some initial feedback of the company on day 2. - ...

Thermador Groupe : CA 2023 en légère baisse organique comme attendu – ...

>CA de 581 M€ (vs 583 M€e) en hausse de 4.9% (-1.8% lfl) - Le groupe a publié hier soir un CA 2023 de 581 M€ en croissance de 4.9% (-1.8% lfl) très légèrement en dessous de notre attente de 583 M€. Le T4 est ainsi ressorti à 126.7 M€ soit une décroissance de 6.9% (-9.7% lfl).Accélération de la baisse au T4 en raison de la morosité du logement neuf et des décalages de projets de rénovation (financements Maprimerenov) - L’accélération de la baisse d’ac...

Thermador Groupe : A slight organic decline in sales in 2023, as expec...

>Sales of € 581m (vs € 583m est.) up 4.9% (-1.8% l-f-l) - Yesterday evening, the group published 2023 sales of € 581m, up 4.9% (-1.8% l-f-l) a shade below our forecast of € 583m. Q4 sales therefore came in at € 126.7m, i.e. a decline of 6.9% (-9.7% l-f-l).Decline accelerates in Q4 due to the gloom in the new housing market and the delay to renovation projects (Maprimerenov financing) - The acceleration of the decline that was observed in Q4 is relati...

Valbiotis : Update following the capital increase

>Target price automatically adjusted to € 9.2 vs € 11.2 - This morning, we are integrating the capital increase made on 22 December 2023 for a gross amount of € 15m and a net amount of € 13m. As a reminder, the subscription price stood at € 4.46, which represented 20% vs the closing price for the pre-announcement (8 December). The transaction significantly strengthened the group’s cash position but automatically triggered the creation of 3.4m additional shares; leadin...