(Boursier.com) — THE TREND
The decline in the CAC 40 is limited to 0.40% at 7,990 points this midday, despite an international context that remains as explosive as ever after the Israeli response to the Iranian counterattack last weekend. However, said response seems to be taking a less worrying turn than expected at this stage…
The fact remains that these multiple geopolitical tensions add to an already low mood on the markets during the week at a time when the Fed seems to want to delay the prospect of a rate reduction in the face of resistance in prices and the economy. US.
The session in Paris was marked by significant differences on certain securities, following quarterly publications. Sodexo and L’Oréal are doing very well, unlike IPSOS…
The euro returns to 1.0650/$. Oil rises to $87.54 per Brent.
RISING VALUES
Pluxee (+7.7%): the former employee benefits division of Sodexo, raised its organic sales growth and Ebitda margin targets for 2024, helped by the group’s solid performance in the first half of its exercise. Pluxee is now targeting organic revenue growth of around 15% to 17% for this year, after announcing a growth target of around 10% in January. “This is the result of very good commercial performance. We have seen very good momentum over the last two years, but it is a momentum that continues, both from the point of view of signing new customers, from the point of view of development and annual volume”, explained CEO Aurélien Sonnet in an interview with the Reuters agency. Recurring Ebitda for the period from September to February stood at 201 million euros, an increase of 28% year-on-year in organic growth. “It is a performance which is ‘across the board’, therefore which is really in all the regions in which we operate”, clarified Aurélien Sonnet.
L’Oreal (+4.5% to 445 Euros): Q1 2024 revenue is 11.24 billion euros, or +9.4% on a comparable basis. 1st quarter sales include a favorable phasing impact in North America of 130 ME linked to the implementation of new IT systems. Adjusted growth on a comparable basis is strong at +8.1%. This attests to continued outperformance in a global beauty market that remains dynamic.
Nokia : +3% followed by Mercialys
Sodexo (+2.5%) forecasts organic growth in its turnover for 2024 “at the top of the range of 6% to 8%”, supported by the next Olympic Games which will take place in France and higher prices. students. The Sodexo Live! was chosen to prepare meals for athletes during the Olympic and Paralympic Games in Paris. This will lead to higher revenue in Sodexo’s fourth fiscal quarter. The restaurant group, which spun off its Pluxee voucher business at the start of last February, estimated that prices would also rise by 4% in the financial year which ends on 31 august. For the first half, Sodexo published internal growth in its turnover of 8.5% to 12.1 billion euros, slightly higher than the forecast of 12 billion euros which emerged from the market consensus. Operating profit for the first half was up 16.9% at constant exchange rates, to 612 million euros, slightly above analysts’ expectations of 600 million euros.
Orange : +1.5% with Elior, Vetoquinol, Sanofi
Veolia (+1%) has unveiled strong growth ambitions in the booming environmental services market in the United States, drawing on its unique experience and capabilities to expand its activities in a country that represents approximately 25% of the global market. The strong growth in demand is due to reindustrialization, water scarcity and pollution problems, as well as public health issues. It is supported by ambitious regulations and investment policies. With $5.4 billion in turnover in 2023, or 11% of the group’s total turnover ($49 billion) and 12,000 employees, Veolia plans to further expand its footprint in the United States. Veolia, which has already multiplied its growth by 2.6 between 2019 and 2023, aims to increase its turnover by 50% by 2027 and to double its size by 2030. Value creation would be approximately 200 bps of ROCE by 2027.
Michelin : +0.5% with Argan, Ubisoft, Atos
FALLING VALUES
Ipsos (-7.5% to 62 Euros): achieved a solid first quarter, with a turnover of 557.5 ME. This level of income confirms the Group’s continued development at a sustained pace. Growth for the first quarter stood at 4.8%, including 4.5% organic, 2.7% scope effect and -2.4% unfavorable currency effects.
Exail falls again by 6% after the bad news from Australia, followed by Worldline, Sartorius Stedim (-5%) with Rallye (-4%)
Nexity : -4% followed by Manitou, Renault (-3%) and Séché
SoiTec down 2.5% with Voltalia, Forvia, Edenred, Clariane
Eramet : -2% followed by LFE, Alsten, Bigben
Schneider Electric fell by 2% to 211 euros at the end of this negative week on the Parisian market. The leader in the digital transformation of energy management and automation has confirmed that it has initiated discussions with Bentley Systems with a view to a potential strategic transaction. These discussions remain at an early stage, and there is no certainty that a transaction will be approved or consummated.
EssilorLuxottica (-1%) announced consolidated revenue for the first quarter of 2024 of 6,335 million euros, up 5.5% at constant exchange rates compared to revenue for the first quarter of 2023 (+3 % at current exchange rates). All regions showed growth, both in the ‘Professional Solutions’ and ‘Direct to Consumer’ channels. North America is growing at a more moderate pace, while strong growth is confirmed in the EMEA region, across all distribution channels and categories. The Varilux, Stellest and Ray-Ban Meta brands continue to accelerate.