Latest Content

Ipsen (IPN:EPA)Ipsen SA (IPN:PAR)
Strong Q3 prompts guidance upgrade

Ipsen reported a healthy set of Q3 sales numbers. The limited impact of generics coupled with strong uptake/recovery across all segments resulted in a FY21 guidance upgrade. Moreover, recent collaborations should result in the targeting of additional newer growth avenues. Overall, with the new strategy in place, it seems that this French small pharma is on course to regain its lost glory.

 View

  • 23 Oct 21
  • -
  • -
Sika AG
9M 21: persistent growth momentum demonstrated

Sika published a good set of 9m results with sales up by 18.1% in local currencies and 18.2% in CHF. The America region, China and India continue to show strong demand momentum but the same cannot be said for the EMEA region. The Global segment too is suffering from the semiconductor shortage but Sika was able to manage its top-line figures via frequent price increases and the EBIT by better cost management.

 View

  • 23 Oct 21
  • -
  • -
Covivio SA
Stable Q3 21 vacancy in French Offices but is Samsung a harbinger of worse to come?

Take-up was up in European Offices in Q3 21, however vacancy was stable sequentially and lfl growth was negative, especially in France (-4%). Residential Germany was the key driver of the consolidated 0% lfl

 View

  • 22 Oct 21
  • -
  • -
Aeroports de Paris (ADP:EPA)Aeroports de Paris SA (ADP:PAR)
9M 21: TAV-led revenue growth

ADP has released better-than-expected 9m revenue figures, mainly owing to higher revenues from the international business. Traffic at Paris airports is in line with our current assumptions but we will upgrade our revenue estimates for the international business. The impact on the target price will however be overshadowed by a downward revision to our margin expectations.

 View

  • 22 Oct 21
  • -
  • -
L'Oreal (OR:EPA)L'Oreal SA (OR:PAR)
Well-balanced growth

L’Oréal published a consensus-beating set of Q3 21 figures. All business divisions experienced qualitative growth, benefiting from the group’s faster digital adoption and innovative omnichannel distribution. Despite the resurgence of Covid-19 having affected the trading performance in several areas in Asia (i.e. Hainan), the group maintained double-digit growth in most of its major markets. With a well-balanced business portfolio and geographical presence, the group is on the new acceleration

 View

  • 22 Oct 21
  • -
  • -
Rexel (RXL:EPA)Rexel SA (RXL:PAR)
Sell-off creates a buy opportunity for this compelling value proposition

Rexel’s share price slumped >9% yesterday after the Q3 sales came in slightly short of market expectations. The sales momentum moderated in Q3 vs Q2, as a result of a relatively tougher base effect and some impact from supply chain constraints. While the Q3 update was underwhelming, we view yesterday’s stock price movement as a market overreaction. Although we will be trimming our estimates post the Q3 results, we remain optimistic on Rexel on the back of structural growth drivers and the cheap

 View

  • 22 Oct 21
  • -
  • -
 

AlphaValue Research and Daily Commentaries

Research Tree offers AlphaValue research, providing ongoing coverage of 1487 shares. We offer 12907 reports from AlphaValue on Research Tree.

  • Research reports provided by AlphaValue

  • Companies covered by AlphaValue

  • Sectors covered by AlphaValue


Related Content

View the latest research on other companies in the sector. 

Change makes L’Oréal better

The group has released a very strong year-end trading performance, especially in Asia Pacific. The better than expected revenue growth (9.6% lfl vs. consensus of 7.4%) in Q4 has led the group to finish the year with 8.0% lfl top-line growth and an improved operating margin of 18.6%. Following an annual lfl revenue growth of 25.5%, Asia Pacific (32.3%) has overtaken Europe in becoming the group’s biggest region in terms of sales contribution.

L'Oreal SA

  • 10 Feb 20
  • -