Bollore is a holding company. Through its subsidiaries, Co. conducts business in international logistics, transportation and logistics in Africa (port management, stevedoring, logistics), fuel distribution, batteries and supercapacitors, electric vehicles, plastic films for capacitors and packaging, dedicated terminals and systems, plantations, communicationa and the media (television and free press, advertising and market research) and the management of portfolio shareholdings. Co.'s activities can be divided into four segments: Transportation and logistics, Industry, Fuel distribution, and Other activities.
  • TickerBOL
  • ISINFR0000039299
  • ExchangeEuronext Paris
  • SectorIndustrial Transportation
  • CountryFrance

Analysts

Jerôme Bodin

ODDO : Acheter Bolloré plutôt que Vivendi

Nous dégradons Vivendi à Neutre vs Achat (OC inchangé de 26,2 €) et conseillons de se positionner sur Bolloré (Achat ; OC de 5 € vs 4.8 €). Le cours de Vivendi valorise implicitement UMG à plus de 23 Md€ offrant un potentiel limité de bonne surprise lors de la cession d’une partie du capital de cette filiale. Au contraire, le titre Bolloré nous semble recéler un potentiel plus important : 1/ les perspectives de Bolloré Transport & Logistics nous paraissent particulièrement porteu...

Jerôme Bodin

ODDO : Buy Bolloré rather than Vivendi

We are downgrading Vivendi to Neutral vs Buy (target price unchanged at € 26.2) and we recommend taking positions on Bolloré (Buy, target price of € 5 vs € 4.8). Vivendi’s share price implicitly values UMG at more than € 23bn, offering limited potential for a pleasant surprise at the time of the sale of part of the subsidiary’s capital. In contrast, Bolloré seems to offer greater upside: 1/ the outlook for Bolloré Transport & Logistics looks particularly bright out to 2021, buoye...

BOLLORE NV sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of BOLLORE NV (FR), a company active in the Transportation Services industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date March 19, 2019, the closing price was EUR 3.98 and its potential was estimated at EUR 4.18.

Alexandre Iatrides ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe Chaput
  • Fehmi Ben Naamane
  • Geoffroy Michalet
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Philippe Ourpatian
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/15/2019

The group is in the midst of a challenging reorganisation phase which will likely continue to hurt profitability and visibility. The “fleet of ships” strategy is gradually evolving, but the failure of the MO + Alstom deal represents a sizeable setback. We also think that the underlying issues, such as ROCE levels, have not been addressed: we are still at Neutral, and are lowering our target price from € 110 to € 100. See report published last evening. - ...

Jerôme Bodin

Bollore : 2018 results in line with forecasts. Good momentum in Africa

>2018 EBIT in line with forecasts - Bolloré yesterday evening reported its 2018 results, with EBIT of € 1.301bn (€ 1.314bn expected). The group then held an analysts’ meeting which was an opportunity to confirm the solid momentum for the transport segment, particularly for ports in Africa. The group also confirmed its intention to take an opportunist approach to the transport commission segment, with an interest in North America / Asia. This could be a trigger on the ...

Carole Braudeau

Bollore : Still some interest

Publication date 28/09/2017 15:49 - Writing date 28/09/2017 15:48 - - Bolloré bonds - - cpon - maturity - amount - ASW spd - Z spd - YTM - 4.32 - 25/10/19 - 170 - 113 - 109 - 0.9 - 2.875 - 29/07/21 - 450 - 108 - 105 - 1.2 - 2.00 - 25/01/22 - 500 - 126 - 126 - 1.4 - Source : Bloomberg - - Equity data - Reco : Buy - Target : 5.00 EUR - Equity Analyst : Bruno Hareng - - - - - / - - - - - - - - - - - - - - - - - - - - - Bolloré boasts strong competitive position in its core markets and a solid track record (average annual growth rate of 4% for sales, 17% for EBITDA and...

Carole Braudeau

Bolloré : Toujours de l’intérêt

Bolloré occupe un fort positionnement concurrentiel sur ses principaux marchés et affiche un solide ‘track record’ (taux de croissance annuel moyen de 4% pour le CA, 17% pour l’EBITDA et 19% pour le résultat opérationnel au cours des 5 dernières années, marge d’EBITDA qui s’est renforcée de 7.4% en 2012 à 10.7% au S1 2017). L’intégration globale de Vivendi dans ses comptes consolidés depuis le 26/04/17 a permis une amélioration ‘mécanique’ des ratios de crédit qui pourrait se poursuivre si le groupe affecte la majeure partie du cash issu de la cession de ses 59,69% dans Havas (finalisée le 03/...

Carole Braudeau

Bollore : An attractive risk-yield trade-off

Publication date 22/06/2017 18:00 - Writing date 22/06/2017 17:22 - - - - - - - - - Bolloré bonds - - cpon - maturity - outstanding - ASW spd - Z spd - YTM - 4.32 - 25/10/19 - 170 - 100 - 96 - 0.80 - 2.875 - 29/07/2021 - 450 - 151 - 149 - 1.49 - 2.00 - 25/01/2022 - 500 - 159 - 161 - 1.67 - Source: Bloomberg - Equity data - Reco : Buy - Target : 5.00 EUR - Equity analyst: Bruno Hareng - - - - - / - - - - - - The deterioration in 2016 credit metrics is likely to prove short-lived as the group’s balance sheet is set to improve significantly pro forma the ongoing sale of a 59.69...

Carole Braudeau

Bolloré : An attractive risk-yield trade-off

Publication date: 21/06/2017 17:40 - Writing Date: 21/06/2017 17:39 - - - - - - - - - Bolloré bonds - - cpon - maturity - outstanding - ASW spd - Z spd - YTM - 4.32 - 25/10/19 - 170 - 100 - 96 - 0.80 - 2.875 - 29/07/2021 - 450 - 151 - 149 - 1.49 - 2.00 - 25/01/2022 - 500 - 159 - 161 - 1.67 - Source: Bloomberg - Equity data - Recommendation: Buy - TP: € 5.00 - Equity analyst: Bruno Hareng - - - - - / - - - - - - The deterioration in 2016 credit metrics is likely to prove short-lived as the group’s balance sheet is set to improve significantly pro forma the ongoing sale of a 5...

Carole Braudeau

Bolloré : Un couple rendement/risque intéressant.

La dégradation des ratios de crédit en 2016 ne devrait être que temporaire car la situation bilancielle va nettement s’améliorer pro forma de la cession en cours de sa participation de 59.69% dans Havas. - Nous recommandons d’acheter la signature qui offre un surcroit de rendement intéressant par rapport aux papiers notés BBB- et ceux non notés mais estimés au même niveau de rating. - >Facteurs de soutien - - Bolloré occupe un solide positionnement concurrentiel sur ses principaux marchés.- Sur les 5 dernières années, le groupe a enregistré de solides performances opérationnelles avec un taux ...

Jerôme Bodin

ODDO : Acheter Bolloré plutôt que Vivendi

Nous dégradons Vivendi à Neutre vs Achat (OC inchangé de 26,2 €) et conseillons de se positionner sur Bolloré (Achat ; OC de 5 € vs 4.8 €). Le cours de Vivendi valorise implicitement UMG à plus de 23 Md€ offrant un potentiel limité de bonne surprise lors de la cession d’une partie du capital de cette filiale. Au contraire, le titre Bolloré nous semble recéler un potentiel plus important : 1/ les perspectives de Bolloré Transport & Logistics nous paraissent particulièrement porteu...

Jerôme Bodin

ODDO : Buy Bolloré rather than Vivendi

We are downgrading Vivendi to Neutral vs Buy (target price unchanged at € 26.2) and we recommend taking positions on Bolloré (Buy, target price of € 5 vs € 4.8). Vivendi’s share price implicitly values UMG at more than € 23bn, offering limited potential for a pleasant surprise at the time of the sale of part of the subsidiary’s capital. In contrast, Bolloré seems to offer greater upside: 1/ the outlook for Bolloré Transport & Logistics looks particularly bright out to 2021, buoye...

Jerôme Bodin

Bollore : 2018 results in line with forecasts. Good momentum in Africa

>2018 EBIT in line with forecasts - Bolloré yesterday evening reported its 2018 results, with EBIT of € 1.301bn (€ 1.314bn expected). The group then held an analysts’ meeting which was an opportunity to confirm the solid momentum for the transport segment, particularly for ports in Africa. The group also confirmed its intention to take an opportunist approach to the transport commission segment, with an interest in North America / Asia. This could be a trigger on the ...

Jerôme Bodin

Bolloré : Résultats 2018 en ligne avec les attentes. Bonne dynamique sur l’Afrique.

>EBIT 2018 en ligne avec les attentes - Bolloré a publié hier soir ses résultats 2018 ressortis, au niveau de l’EBIT, à 1 301 M€ (1 314 M€ attendus). Le groupe a tenu dans la foulée sa réunion d’analystes qui a été l’occasion de confirmer une bonne dynamique sur le transport, tout particulièrement dans le portuaire en Afrique. Le groupe a par ailleurs confirmé sa volonté d’être opportuniste sur le segment de la commission de transport, notamment avec un intérêt pour l...

Alexandre Iatrides ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Olfa Taamallah
  • Olivier Lebrun
  • Roland Pfaender
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/15/2019

...

A director sold 100,000 shares at 4.446EUR and

A director at Bollore sold 100,000 shares at 4.446EUR and the significance rating of the trade was 66/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board ...

Alexandre Iatrides ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe Chaput
  • Fehmi Ben Naamane
  • Geoffroy Michalet
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Philippe Ourpatian
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/15/2019

The group is in the midst of a challenging reorganisation phase which will likely continue to hurt profitability and visibility. The “fleet of ships” strategy is gradually evolving, but the failure of the MO + Alstom deal represents a sizeable setback. We also think that the underlying issues, such as ROCE levels, have not been addressed: we are still at Neutral, and are lowering our target price from € 110 to € 100. See report published last evening. - ...

Alfred Glaser ...
  • Bruno Cavalier
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Johanna Jourdain
  • Olivier Lebrun
  • Rémi Adam

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/22/2018

...

Alfred Glaser ...
  • Bruno Cavalier
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Johanna Jourdain
  • Olivier Lebrun
  • Rémi Adam

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 22/10/2018

...

BOLLORE NV sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of BOLLORE NV (FR), a company active in the Transportation Services industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date March 19, 2019, the closing price was EUR 3.98 and its potential was estimated at EUR 4.18.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Bolloré - Assemblée générale des actionnaires du 29 mai 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

Bolloré – Proxinvest Corporate Governance Rating ® : E

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Jehanne Leroy

Proxy Report - 01/06/2018

Despite concerns raised in 2017, the company did not improve its disclosure on 2017 amounts granted and 2018 amounts to be granted. It still not discloses performance criteria of Cyrille Bolloré's annual bonus. Likewise, it indicates that his fixed remuneration will be increased in 2018 (for at least the 5th year in a row), but still does not disclose its amount. The company keeps on being one of the less transparent companies within the SBF 120.

Jehanne Leroy

Proxy Report - 01/06/2018

Malgré les remarques faites en 2017, la société n'a pas amélioré sa communication concernant les rémunérations attribuées ou attribuables. Ainsi, aucune information n'est communiquée sur les critères de performance utilisés pour le calcul du bonus 2017 de Cyrille Bolloré. De la même façon, si la société indique clairement que son fixe pour 2018 sera augmenté "compte tenu de son expérience et de l’accroissement de ses responsabilités dans la stratégie du Groupe" (comme chaque année depuis au moins 5 ans), elle ne communique toutefois pas le montant qui lui sera attribué. Ainsi, la société cont...

Valérie GASTALDY

Analyse court terme - BOLLORE : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 3,636 €, puis 3,365 €. Le franchissement de 4,178 € remettrait en cause la suite de la baisse.

Valérie GASTALDY

Short term view - BOLLORE : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at €3.636, then €3.365. Passing €4.178 would question the continuation of the fall.

Valérie GASTALDY

Short term view - BOLLORE : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €3.636, then €3.365. Passing €4.178 would question the continuation of the fall.

Valérie GASTALDY

Analyse court terme - BOLLORE : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 3,636 €, puis 3,365 €. Le franchissement de 4,178 € remettrait en cause la suite de la baisse.

Valérie GASTALDY

Analyse moyen terme - BOLLORE : Le mouvement se poursuit.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 3,681 €, puis 3,298 €. Le franchissement de 5,091 € remettrait en cause la suite de la baisse.

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