Casino Group: Disposal of 121 stores to ITM, Auchan, Carrefour Disposal of 121 stores to Groupement Les Mousquetaires, Auchan Retail France and Carrefour Paris, 30 April 2024 Following the agreements reached on 24 January 2024, with Auchan Retail France and Groupement Les Mousquetaires as well as on 8 February 2024, with Carrefour to sell a combined total of 287 stores, Casino Group announces today the sale of 121 stores1. The disposals of the remaining 166 stores will occur in two steps, on 31 May 2024 and 1 July 2024, respectively. This transaction is based on an enterprise value of t...
L’offre de BHP sur Anglo American a confirmé l’intérêt des minières pour le cuivre dans un contexte de tensions croissantes sur la production et de difficultés à faire aboutir les projets. Les perspectives d’Anglo (Neutre) dans le cuivre sont désormais mieux valorisées, c’est aussi le cas de BHP (Neutre vs Sous-performance) mais pas encore assez, selon nous, sur Rio Tinto (Surperformance vs Neutre). En aval, Nexans et Montana Aerospace sont nos valeurs préférées (Surperformance) vs Au...
BHP's bid for Anglo American has confirmed interest from miners in copper in the context of increasingly challenged production and difficulties in fully completing projects. Anglo’s (Neutral) prospects in copper are now better valued and this is also the case for BHP (Neutral vs Underperform) although not so for Rio Tinto (Outperform vs Neutral). Downstream, Nexans and Montana Aerospace are our Top Picks (Outperform) vs Aurubis, Rexel and Prysmian (Neutral). - ...
>Q1 2024 earnings: -7.8% - Q1 sales came to € 133.7m i.e. down 7.8% with sales of essentials at € 83.4m (-4%) and sales of complementary products at € 50.3m (-13%).Pets were down 9%, as was livestock by 6%. By region, we see growth in Asia-Pacific sales (+1.8% in reported data) while Europe dropped by -5% (including overstocking) and the Americas were down 14% in reported data.In its announcement, the group also stated (as almost always) that its cash gener...
>Résultats CA T1 2024 : -7,8% - Le CA T1 ressort à 133,7 M€ ie. une baisse de 7,8% avec un CA Essentiels à 83,4 M€ (-4%) et CA Produits complémentaires à 50,3 M€ (-13%).Les Animaux de Compagnie sont en baisse de 9% et les Animaux de Production baissent de 6%. Par zone, on observe une progression du CA Asie-Pacifique (+1,8% en données publiées) alors que l’Europe baisse de -5% (en incluant le surstockage) et que les Amériques reculent de 14% en données publiées.§r...
LYON, France--(BUSINESS WIRE)-- Regulatory News: POXEL SA (Euronext : POXEL - FR0012432516) (Paris:POXEL), société biopharmaceutique au stade clinique développant des traitements innovants pour les maladies chroniques graves à physiopathologie métabolique, dont la stéatohépatite non alcoolique (NASH) et les maladies métaboliques rares, publie aujourd'hui sa position de trésorerie, fait le point sur sa situation financière au premier trimestre clos le 31 mars 2024, dresse un bilan de ses activités et annonce le report de la publication de ses résultats annuels 2023, compte tenu de la conclusi...
LYON, France--(BUSINESS WIRE)-- Regulatory News: (Euronext: POXEL - FR0012432516) (Paris:POXEL), a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare metabolic disorders, today reported its cash position, provided a financial and business update for the first quarter ended March 31, 2024, and announced the postponement of its 2023 full-year results release, in view of the expected closing of a transaction. Thomas Kuhn, Chief Executive Officer of Poxel...
LURE, France--(BUSINESS WIRE)-- Regulatory News: Matthieu Frechin, Président-directeur général du laboratoire Vetoquinol (Paris:VETO), a déclaré : « Les bonnes performances dans la durée de nos deux axes stratégiques, les Essentiels et les États-Unis, continuent de démontrer la solidité de notre modèle économique et sa capacité à délivrer au-delà des effets de base, un bon niveau de rentabilité et une solide génération de cash ». Le laboratoire Vetoquinol enregistre un chiffre d’affaires de 133,7 M€ au 1er trimestre de l’exercice 2024 dont 83,4 M€ pour les produits Essentiels. L’activité...
Judgment on FRH request for grace period extension Judgment on FRH request for grace period extension Paris, 29 April 2024 Casino Guichard-Perrachon S.A. (Euronext Paris: CO; ISIN: FR0000125585) hereby informs as follows: On behalf of France Retail Holdings S.à.r.l. (an entity ultimately controlled by Mr. Daniel Křetínský) (“FRH”), it is hereby announced that FRH has received on 25 April 2024 a judgment of the Enterprise Chamber of the Amsterdam Court of Appeal, the Netherlands, granting a thirty-day extension pursuant to Article 5:72(2) of the Dutch Financial Supervision Act (Wet op het...
Deutz is a leading non-captive engine manufacturer for a wide range of customer industries with a strong and very well-known brand. The company will enter a profitable growth period soon (CAGR 2023-26e sales 8%, EPS 18%). We initiate coverage with an Outperform rating and a target price of € 7.9, reflecting >40% upside from here. - ...
Deutz is a leading non-captive engine manufacturer for a wide range of customer industries with a strong and very well-known brand. The company will enter a profitable growth period soon (CAGR 2023-26e sales 8%, EPS 18%). We initiate coverage with an Outperform rating and a target price of € 7.9, reflecting >40% upside from here. - ...
>Q1 2024 sales down 9.4% to € 94.2m (vs € 104m est.) - Roche Bobois published yesterday evening its Q1 2024 sales, which came in slightly below our expectations at € 94.2m (vs. € 100m est.), down 9.4% (-9.5% cc). Slowdown across regions in Q1, upturn expected in H2 - Given the very high rate of deliveries in Q4 2023 and a slowdown in order intake at the end of the year, the group's business logically slowed down in Q1 2024 in all regions: France (-9...
>CA T1 en baisse de 9.4% à 94.2 M€ (vs 104 M€e) - Roche Bobois a publié hier soir son CA T1 qui ressort légèrement inférieur à notre attente à 94.2 M€ (vs 100 M€e) soit une baisse de 9.4% (-9.5% à taux de change constant). Un ralentissement sur toutes les zones au T1 - Rebond attendu au S2 - Compte tenu d’un rythme de livraisons très élevé au T4 2023 et d’un ralentissement des prises de commandes en fin d’année, l’activité du groupe a logiquement m...
Post-Q1 shaped by a sharper-than-expected decline. We understand that Q2 should show a sequential improvement, thanks to order backlog rising again; Q3 should return to growth with no cut to FY sales estimate. We continue to like the equity story with Chinese deal in July and better trends from Q3
Atos: weak Q1 2024 results, need for fresh funds has already increasedVerisure launches a new term loan; new bonds to followVerallia: Q1 2024 logically weak but the recovery in demand is confirmedAngloAmerican Plc: Takeover offer from BHP Group for the entire share capital>...
Atos : faibles résultats au T1 2024, les besoins de nouveaux fonds a augmentéVerisure lance un nouveau term loan ; des nouvelles obligations suivrontVerallia : T1 2024 logiquement faible mais la reprise de la demande se confirmeAngloAmerican PLC : Offre de rachat sur la totalité du capital par BHP>...
Having flirted with the 495-point mark on Friday, which could have triggered an extension of the correction, the market has rebounded well since then. Our technical analysis highlights a configuration in which we are only at the start of a powerful rally. Target of 622 points for Stoxx 600 index (+11%) by the end of the year confirmed. Prefer banks to insurance companies in the short term. - ...
Après avoir frôlé vendredi la barre des 495 points qui aurait pu déclencher la poursuite de la correction, le marché a ensuite bien rebondi. Notre analyse technique met en lumière une configuration où nous ne serions qu’au début d’un rallye puissant. Objectif 622 points (+11%) d’ici à la fin de l’année confirmé sur le Stoxx 600. Préférer les banques aux assurances à court terme. - ...
>Satisfactory sales but margins and FCF are too low - Casino reported Q1 sales of € 2.1bn, down 4.6% of which -3.8% LFL. The key standouts to us were the respectable performances of Monoprix (+0.7% LFL) and Franprix (+0.6% LFL). These figures were not so bad in light of Carrefour’s performance (+0.2% LFL for convenience brands this quarter). Stores under the Casino banner were down 2.4%, bringing the overall convenience brand performance to +0.1%.On the other han...
>Un CA correct, mais des marges et FCF trop faibles… - Au titre de son T1, Casino publie un CA de 2.1 Md€ en repli de 4.6% dont -3.8% en LFL. Nous retiendrons particulièrement la performance honorable de Monoprix (LFL +0.7%) et de Franprix (LFL +0.6%). Une performance pas si mauvaise au regard des chiffres de Carrefour (LFL +0.2% sur la proximité ce trimestre). Les magasins à enseigne Casino sont eux en retrait de 2.4%, amenant les enseignes de proximité à une perfor...
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