Key takeaways from this week are: 1) BlueNord’s Q1 figures were in line with our estimates, and due to technical issues, the Tyra plateau ramp-up was prolonged to mid-Q4 (2024 production guidance reduced from >40kboed to ~35kboed); 2) DNO’s Q1 report showed net production slightly above consensus, and it announced it has acquired stakes in five fields in the Norne area from Vår Energi, adding ~3kboed of net production near-term; and 3) Panoro Energy’s Q1 trading update showed net production of 9...
AUCTUS PUBLICATIONS ________________________________________ GeoPark (GPRK US)C; target price of US$26 per share: More favourable offtake contract in Colombia – GeoPark has signe da new offtake contract with Vitol for a minimum of 20 mbbl/d. The agreement improves GeoPark’s price realizations by US$0.15/bbl vs the current agreement. As part of this transaction, GeoPark will obtain immediate access to committed funding from Vitol for up to US$300 mm, with an option to increase by another US$200 m...
We expect limited share price-moving news, and financial targets to be unchanged (10% sales growth and 16–17% EBIT margin) at Assa Abloy’s CMD, which is set for 14–15 May in Prague. However, as it is on track to reach its 2026 ambition of SEK150bn in sales and SEK25bn in EBIT two years early, we believe it could launch new ambitions for 2028, 2029 or 2030 of cSEK223bn–269bn in sales and cSEK37bn–45bn in EBIT, implying a possible double-digit EBIT CAGR from 2024e. We have made small changes to ou...
>T2 2023/24 : un très bon trimestre, grâce à Grid Technologies - Siemens Energy a publié hier matin des résultats T2 supérieurs aux attentes, principalement grâce à la division Grid Technologies. Les commandes s’établissent à 9.5 Md€, -22% en comparable (dont -76% pour Siemens Gamesa, -21% pour Gas Services, +27% pour Grid Technologies). Le CA atteint 8.3 Md€, +3.7% en comparable (-6% pour GS, +25% pour GT, -4.6% pour Siemens Gamesa). L’EBITA ajusté (avant SI – specia...
>Q2 2023-24: a very good quarter thanks to Grid Technologies - Yesterday morning, Siemens Energy published Q2 results that beat expectations, primarily thanks to the Grid Technologies division. Order intake was € 9.5bn, -22% l-f-l (of which -76% for Siemens Gamesa, -21% for Gas Services, +27% for Grid Technologies). Sales were € 8.3bn, +3.7% l-f-l (-6% for GS, +25% for GT, -4.6% for Siemens Gamesa). Adjusted EBITA (before SI – special items) was € 170m, well above for...
>We reduce our target price from € 56.0 to € 54.0 - Considering the continued weak macroenvironment, weak demand from SMB businesses in Germany, and the lack of public client business due to delayed approval of government budgets, Q1 was decent at best. However, it was below Bechtle’s own ambitions. The company expects business to successively pick up in upcoming quarters, with a strong focus on H2. Bechtle is confirming its guidance but now targets the low to mid-ra...
PARIS--(BUSINESS WIRE)-- Regulatory News: TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) annonce le démarrage de la production du projet Eldfisk North situé dans la zone d’Ekofisk en mer du Nord. Le projet Eldfisk est situé sur le permis PL018, dont les partenaires sont TotalEnergies EP Norge AS (39,896%), ConocoPhillips Skandinavia AS (35,112% - Opérateur), Vår Energi ASA (12,388%), Sval Energi AS (7,604%) et Petoro AS (5,000%). En décembre 2022, les autorités norvégiennes ont approuvé le Plan de Développement et d’Exploitation du projet Eldfisk North avec un démarrage des productions p...
>Q2 2023-24: much better operational profit and FCF - Siemens Energy this morning reported its Q2 results, with operational profit and FCF better than expected. At the consolidated level, orders came in at € 9.5bn, down 22% in comparable terms (with -76% for Siemens Gamesa, -21% for Gas Services, and +27% for Grid Technologies). Revenues came to € 8.3bn, +3.7% on a comparable basis (-6% for GS, +25% for GT, -4.6% for Siemens Gamesa). Adjusted EBITA (before SI – speci...
>Q1 results -7.7% below consensus on top line and -4.2% on bottom line - Bechtle released Q1 results that were below our and the consensus expectations. Revenue declined by -2.3% y-o-y to € 1,503.4m, driven by a -3.8% decline y-o-y in the IT System House segment to € 932.3m. The IT E-Commerce segment was flat y-o-y at € 571.1m. EBT increased by +2.9% y-o-y to € 82.0m below our and the consensus expectations of € 85.9m and € 84.8m respectively and implying a margin of ...
>Outperform reiterated, target price raised to € 45 vs € 40 despite the warning - Following the publication of Q2 2024 results that came in a shade above of expectations yesterday and despite the downward revision to the guidance for 2024 (the weakness of demand in automobile and the deepening of the correction in industry) the stock rebounded strongly (+13%). Despite this revision, the market above all retained that 1/ Infineon has indicated that it has de-risked its...
>T2 2023/24 : résultat opérationnel et FCF bien meilleurs - Siemens Energy a publié ce matin ses résultats T2, avec un résultat opérationnel et un FCF meilleurs que prévu. Au niveau consolidé, les commandes s’établissent à 9.5 Md€, en baisse de 22% en comparable (dont -76% pour Siemens Gamesa, -21% pour Gas Services, +27% pour Grid Technologies). Le chiffre d’affaires atteint 8.3 Md€, +3.7% en comparable (-6% pour GS, +25% pour GT, -4.6% pour Siemens Gamesa). L’EBITA...
>Q1 EBIT ahead of our expectations but net earnings below - EBIT was 2.1% higher than the consensus estimate and down 2.9% q-o-q. In contrast, net profit came in 5.1% below expectations due to the impact of a higher tax effect. In contrast, net profit for the OP&O division undershot expectations given the fall in the prices of oil and gas and the group is guiding for lower production in Q2 albeit slightly higher over the full year vs 2023. The pleasant surprise for t...
>EBIT T1 supérieur aux attentes mais résultat net en dessous - L’EBIT ressort 2.1% supérieur au consensus et en baisse de 2.9% QoQ. Le résultat net par contre ressort 5.1% en dessous des attentes sous l’impact d’un effet taxe plus important. Le résultat de OP&O est ressorti inférieur aux attentes vu la baisse du prix du pétrole et du gaz et le groupe guide sur une production plus faible au T2 mais légèrement plus élevée sur l’année vs 2023. Sur ce trimestre, la bonne ...
EQS-News: Bechtle AG / Schlagwort(e): Quartals-/Zwischenmitteilung/Quartalsergebnis Bechtle bekräftigt Prognose für das Gesamtjahr 08.05.2024 / 07:29 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Bechtle bekräftigt Prognose für das Gesamtjahr Geschäftsvolumen steigt um 3,4 % Starkes Softwaregeschäft wesentlicher Treiber EBT erhöht sich um 2,8 % auf 82,0 Mio. € Operativer Cashflow mit 45,3 Mio. € sehr deutlich über Vorjahr Weiterhin optimistischer Ausblick für Gesamtjahr Neckarsulm, 8. Mai 2024 – Die Bechtle AG hat im ers...
EQS-News: Bechtle AG / Key word(s): Quarterly / Interim Statement/Quarter Results Bechtle Affirms Forecast for the Year As a Whole 08.05.2024 / 07:29 CET/CEST The issuer is solely responsible for the content of this announcement. Bechtle Affirms Forecast for the Year As a Whole Business volume up by 3.4 per cent Strong software business as a key driver EBT increases by 2.8 per cent to €82.0 million Operating cash flow of €45.3 million clearly above previous year Outlook for the year as a whole remains optimistic Neckarsulm, 8 May 2024 - Bechtle AG delivered s...
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