reports
- Pierre FerraguÊ
- Konrad Zomer
- Marc Lavaud
- Youssef Besbes
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
REL RELX PLC
BT.A BT GROUP PLC
KNEBV KONE OYJ CLASS B
RNO RENAULT SA
KPN ROYAL KPN NV
PUM PUMA SE
VOLV B VOLVO AB CLASS B
EO FAURECIA SA
DAI DAIMLER AG
ABB ABB LTD.
LONN LONZA GROUP AG
POM PLASTIC OMNIUM SE
GLE SOCIETE GENERALE S.A. CLASS A
NOKIA NOKIA OYJ
TYRES NOKIAN RENKAAT OYJ
WKL WOLTERS KLUWER NV
FR VALEO SE
SAN SANOFI
VOW3 VOLKSWAGEN AG PREF
SY1 SYMRISE AG
HM B H&M HENNES & MAURITZ AB CLASS B
CIE CIE AUTOMOTIVE S.A.
RACE FERRARI NV
ASML ASML HOLDING NV
PIRC PIRELLI & C. S.P.A.
VOD VODAFONE GROUP PLC
STM STMICROELECTRONICS NV
GEST GESTAMP AUTOMOCION S.A.
CPR DAVIDE CAMPARI-MILANO N.V.
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
STLA STELLANTIS N.V.
SHEL SHELL PLC
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
ALIV SDB AUTOLIV INC.
BRE BREMBO S.P.A.
- Konrad Zomer
- Marc Lavaud
- Youssef Besbes
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
REL RELX PLC
TKA THYSSENKRUPP AG
BT.A BT GROUP PLC
MT ARCELORMITTAL SA
BEKB BEKAERT SA
AAL ANGLO AMERICAN PLC
KNEBV KONE OYJ CLASS B
RNO RENAULT SA
APAML APERAM SA
KPN ROYAL KPN NV
PUM PUMA SE
ROG ROCHE HOLDING LTD
VOLV B VOLVO AB CLASS B
OUT1V OUTOKUMPU OYJ
EO FAURECIA SA
SSAB A SSAB AB CLASS A
DAI DAIMLER AG
ABB ABB LTD.
LONN LONZA GROUP AG
POM PLASTIC OMNIUM SE
GLE SOCIETE GENERALE S.A. CLASS A
SZG SALZGITTER AG
NOKIA NOKIA OYJ
TYRES NOKIAN RENKAAT OYJ
WKL WOLTERS KLUWER NV
VOE VOESTALPINE AG
ACX ACERINOX SA
FR VALEO SE
SAN SANOFI
VOW3 VOLKSWAGEN AG PREF
ERA ERAMET SA
SY1 SYMRISE AG
NDA AURUBIS AG
HM B H&M HENNES & MAURITZ AB CLASS B
CIE CIE AUTOMOTIVE S.A.
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
RACE FERRARI NV
RIO RIO TINTO PLC
BHP BHP GROUP LTD
ASML ASML HOLDING NV
PIRC PIRELLI & C. S.P.A.
VOD VODAFONE GROUP PLC
STM STMICROELECTRONICS NV
GEST GESTAMP AUTOMOCION S.A.
CPR DAVIDE CAMPARI-MILANO N.V.
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
STLA STELLANTIS N.V.
SHEL SHELL PLC
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
ALIV SDB AUTOLIV INC.
BRE BREMBO S.P.A.
- Martin Marandon-Carlhian
- Stephane Houri
- Martin Marandon-Carlhian
- Stephane Houri
- Wim Hoste
Akzo Nobel Feedback 4Q results conference call
Below are the highlights from the conference call. We remind that Akzo's 4Q adjusted EBITDA increased by 3% and came in c. 2% below our forecast and c. 1% below consensus, with a better than expected result of Performance Coatings offset by a weaker result of Deco Paints. Net debt/EBITDA came in weaker than expected at 3x on the back of incidentals and higher than expected working capital. FY25 adj EBITDA guidance calls for at least 5% growth which is in line with our forecast with consensus at ...
- Julian Dobrovolschi
- Julian Dobrovolschi
- Jan Frederik Slijkerman
- Jeroen van den Broek
- Jesse Norcross
- Nadège Tillier
- Timothy Rahill
- ING Helpdesk
- Alvaro del Pozo
ASML HOLDING NV: RDOS. 4T’24 (ANÁLISIS BANCO SABADELL)
Rdos. 4T'24 vs 4T'23: Ventas: 9.263 M euros (+28,0% vs +24,0% BS(e) y +24,8% consenso); EBIT: 3.355 M euros (+40,3% vs +27,6% BS(e) y +28,6% consenso); BDI: 2.693 M euros (+31,5% vs +27,3% BS(e) y +28,2% consenso). Rdos. 2024 vs 2023: Ventas: 28.263 M euros (+2,6% vs +1,5% BS(e) y +1,7% consenso); EBIT: 9.022 M euros (-0,2% vs -3,6% BS(e) y -3,3% consenso); BDI: 7.572 M euros (-3,4% vs -4,5% BS(e) y -4,3% consenso).
- Martin Marandon-Carlhian
- Stephane Houri
- Martin Marandon-Carlhian
- Stephane Houri
- Guy Sips
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Hoste
Akzo Nobel FIRST LOOK: 4Q EBITDA +3%, guiding for >5% growth on self-h...
Akzo's 4Q adjusted EBITDA increased by 3% and came in c. 2% below our forecast and c. 1% below consensus, with a better than expected result of Performance Coatings offset by a weaker result of Deco Paints. FY25 adj EBITDA guidance calls for at least 5% growth which is in line with our forecast with consensus at +7%, whilst most of the predicted growth comes from self-help measures. Taking into account the volatile track record and low structural growth, we maintain our Hold rating and € 70 TP.
- Thibault Leneeuw
ASML Higher IBM sales, lower costs, strong order intake
ASML's 4Q24 results exceed expectations. Order intake was € 7.1bn, twice the street's expectations of € 3.5bn. ASML reported €9.3bn in revenues for 4Q24, surpassing both guidance and expectations (KBCS & CSS: € 9.0bn) due to a strong performance of IBM. Higher IBM revenues combined with lower than expected costs, related to the sale of two high NA tools, resulted in better than expected margins. Consequently, EPS of € 6.85 exceeded the street's expectations of € 6.68 (KBCS: € 6.61). The outlook ...
- Thomas Vranken
Onward Medical FIRST LOOK: ARC-EX becomes available on VA procurement ...
Onward's ARC-EX system is now available on two federal procurement platforms, including the US Veterans Affairs (VA) and General Services Administration (GSA) Advantage, allowing US government clinics to purchase the system. The inclusion was facilitated by Onward's existing partnership with Lovell. The company remains on track in its commercial launch for the ARC-EX device, hence we reiterate our € 10.4 TP and Buy rating.
- Pierre FerraguÊ
- Research Department
INFORME DIARIO 29 ENERO + RDOS. ESPAÑA Y EUROPA 4T’24. PREVIEWS (ANÁLI...
COMPAÑÍAS QUE APARECEN EN EL INFORME: EUROPA: ASML, LVMH. 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. 4T’24 que se publicarán en España y Europa en los próximos días. Recuperación del mercado Rebote en Europa ayudado por la recuperación de las grandes empresas estadounidenses (las FANGS subían un +5,1% al cierre de Europa). En el STOXX 600 lideraron...
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