Mersen produces materials and electrical components intended for alternative energies, chemicals and pharmaceuticals, rail transportation, electronics and process industries. Co. divides its operations into two segments: Advanced Materials and Technologies (AMT - Materials), and Electrical Components and Technologies (ECT - Electrical). In addition, Co. produces four types of products: Electrical Applications, Electrical Protection, High-Temperature Applications, and Anticorrosion Equipment. Co. also caters to the process industries, supporting their transition towards greater energy efficiency and boasts an efficient manufacturing base with plants employing the very latest technologies.
  • TickerMRN
  • ISINFR0000039620
  • ExchangeEuronext Paris
  • SectorElectronic & Electrical Equipment
  • CountryFrance

Analysts

Charles Lepetitpas ...
  • Christophe Chaput
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas Thorez
  • Nicolas David
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 03/13/2019

Offshore and FPSO-type floating production systems will remain key for the future balance of the oil market. Between now and 2035, new offshore projects producing an additional 20 mb/d will have to be launched! We expect an acceleration in momentum in this segment after several years of underinvestment. SBM Offshore, on which we adopt a Buy recommendation (vs Neutral) with a target price of € 22, is the key player in this segment in our view. We remain more cautious on players with a ...

Charles Lepetitpas ...
  • Christophe Chaput
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas Thorez
  • Nicolas David
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 13/03/2019

...

Jean-François Granjon

Mersen : Results and outlook in line – Ongoing growth

>Excellent full-year results - Mersen’s reported full-year results are fully in line with our expectations and reflect a remarkable performance. The sales were already published (see our comment of 31 January 2019). Underlying operating profit came in at € 91.6m (€ 91.4m estimated – € 90.5m for the consensus) vs € 74.6m, up 23%, giving an underlying operating margin of 10.4%, up 120bp. These margins are fully in line with the guidance of around 10.4%. Bear in mind als...

Jean-François Granjon

Mersen : Résultats et perspectives en ligne. Poursuite de la croissance

>Publication des résultats annuels d’excellente facture - Mersen publie des résultats annuels totalement en ligne avec nos attentes et traduisent une performance remarquable. Alors que le CA a déjà été publié (cf. notre commentaire du 31 janvier 2019), le ROC ressort à 91,6 M€ (91,4 M€ estimé – 90,5 M€ pour le cs) vs 74,6 M€ en hausse de 23% traduisant une MopC de 10,4% en hausse de 120pb. Ce niveau de marge est totalement en ligne avec la guidance inscrite autour de ...

Alexandre Iatrides ...
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Emmanuel Matot
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Nicolas David
  • Rémi Adam
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 01/31/2019

...

Antoine Augier de Lajallet ...
  • Christophe Chaput
  • Fatma Agnès Hamdani
  • Jean-François Granjon
  • Nicolas David
  • Salma Bouraoui
  • Vincent Baron
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 05/31/2018

...

Antoine Augier de Lajallet ...
  • Christophe Chaput
  • Fatma Agnès Hamdani
  • Jean-François Granjon
  • Nicolas David
  • Salma Bouraoui
  • Vincent Baron
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 31/05/2018

...

Jean-François Granjon

Mersen : Acquisition in the field of power electronics – Stock in our list of Top Picks for H1 2018

>Acquisition of FTCap - Mersen has announced the signing of a contract with a view to acquiring FTCap, a developer and producer of capacitors. Our takeaways from contact with the company are as follows:FTCap is based in Germany and Switzerland and specialises in producing capacitors with a variety of applications in industry. The product range is wide, from film capacitors to electrolytic capacitors. The company employs around 200 staff and generated in 2017 sale...

Jean-François Granjon

Mersen : Acquisition dans le domaine de l’électronique de puissance – Titre dans notre Top Pick List H1 2018

>Acquisition de la société FTCap - Mersen annonce la signature d’un contrat en vue de l’acquisition de FTCap, concepteur et fabricant de condensateurs. Après un contact avec la société, nous retiendrons les quelques éléments suivants :Basé en Allemagne et en Suisse, FTCap est spécialisé dans la fabrication de condensateurs avec de nombreuses applications dans l’industrie. La gamme de produits est large, allant des condensateurs à film aux condensateurs électrolyt...

Jean-François Granjon

Mersen : Results and outlook in line – Ongoing growth

>Excellent full-year results - Mersen’s reported full-year results are fully in line with our expectations and reflect a remarkable performance. The sales were already published (see our comment of 31 January 2019). Underlying operating profit came in at € 91.6m (€ 91.4m estimated – € 90.5m for the consensus) vs € 74.6m, up 23%, giving an underlying operating margin of 10.4%, up 120bp. These margins are fully in line with the guidance of around 10.4%. Bear in mind als...

Jean-François Granjon

Mersen : Résultats et perspectives en ligne. Poursuite de la croissance

>Publication des résultats annuels d’excellente facture - Mersen publie des résultats annuels totalement en ligne avec nos attentes et traduisent une performance remarquable. Alors que le CA a déjà été publié (cf. notre commentaire du 31 janvier 2019), le ROC ressort à 91,6 M€ (91,4 M€ estimé – 90,5 M€ pour le cs) vs 74,6 M€ en hausse de 23% traduisant une MopC de 10,4% en hausse de 120pb. Ce niveau de marge est totalement en ligne avec la guidance inscrite autour de ...

Jean-François Granjon

Mersen : A shade above expectations – Brisk momentum maintained

>Publication of full-year sales - Mersen has reported full-year 2018 sales ahead of our expectations. Sales came in at € 878.5m (€ 870.5m estimated– € 872.2m for the consensus) up 8.6% and 9.9% on an organic basis. This performance topped guidance which was targeting a level close to 9% (upper end of the previous guidance range). This reflects Q4 sales of € 225.2m, up 11.8% and 7.4% on an organic basis, whilst the base effect was particularly unfavourable (+12.7% for ...

Jean-François Granjon

Mersen : Légèrement au-dessus des attentes – Poursuite d’une bonne dynamique

>Publication du CA annuel - Mersen publie un CA annuel légèrement supérieur à nos attentes. Il ressort à 878,5 M€ (870,5 M€ estimés – 872,2 M€ pour le consensus) en hausse de 8,6%et 9,9% en organique. Cette performance s’inscrit au-delà de la guidance qui visait un niveau voisin de 9% (haut de fourchette de la guidance précédente). Cela traduit un CA T4 de 225,2 M€ en hausse de 11,8% et 7,4% en organique alors que l’effet de référence était particulièrement défavorabl...

Jean-François Granjon

Mersen : Feedback from capital markets day – high tech for sustainable development

>Growth drivers with strong value added - In the capital markets day, management focused its presentation on high-potential markets where Mersen is expected to grow its market share. The group currently derives over 50% of its business from markets related to sustainable development vs 40% five years ago. This proportion is set to increase given that the growth momentum of the underlying markets is well ahead of average GDP growth. In a very instructive presentation, ...

A director sold 7,650 shares at 40.000EUR and

A director at Mersen sold 7,650 shares at 40.000EUR and the significance rating of the trade was 74/100. 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 members ...

Charles Lepetitpas ...
  • Christophe Chaput
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas Thorez
  • Nicolas David
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 03/13/2019

Offshore and FPSO-type floating production systems will remain key for the future balance of the oil market. Between now and 2035, new offshore projects producing an additional 20 mb/d will have to be launched! We expect an acceleration in momentum in this segment after several years of underinvestment. SBM Offshore, on which we adopt a Buy recommendation (vs Neutral) with a target price of € 22, is the key player in this segment in our view. We remain more cautious on players with a ...

Charles Lepetitpas ...
  • Christophe Chaput
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Nicolas Thorez
  • Nicolas David
  • Oussema Denguir
  • Pierre Corby
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 13/03/2019

...

Alexandre Iatrides ...
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Emmanuel Matot
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Nicolas David
  • Rémi Adam
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 01/31/2019

...

Antoine Boivin-Champeaux ...
  • Charles Lepetitpas
  • Christophe Chaput
  • Emmanuel Matot
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Nicolas David
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 31/01/2019

...

Fehmi Ben Naamane ...
  • Hana Maalej
  • Jean-François Granjon
  • Johanna Jourdain

ODDO BHF Small & MIDCAP MORNING NEWS - 11/30/2018

...

Increased risk weighs on MERSEN (EX LCL), penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of MERSEN (EX LCL) (FR), active in the Electrical Components & Equipment industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date November 20, 2018, the closing price was EUR 25.10 and its target price was estimated at EUR 23.84.

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...

Proxy Report - 17/05/2018

L'exercice 2017 fût marqué par un changement dans la gouvernance de la société s'agissant du Président du Conseil : Olivier Legrain a succédé à Hervé Couffin dans l'exercice de ses fonctions. S'agissant de la rémunération des dirigeants, Proxinvest soutiendra la rémunération 2017 des dirigeants (Résolutions 6, 7 et 8), notamment en raison du caractère modéré des montants attribués et de la bonne communication de la société. Toutefois, Proxinvest s'opposera à la politique de rémunération pour 2018 (Résolutions 9 et 10) en raison du manque de transparence sur les montants attribuables (montant ...

Matthieu DRIOL

Short term view - MERSEN (EX. CARBONE LORRAINE) : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €28.65. The next target is at €24.59, then €22.91. Passing €31.96 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - MERSEN (EX. CARBONE LORRAINE) : La reprise est une consolidation.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 28,65 € prochainement. Le prochain objectif est à 24,59 €, puis 22,91 €. Le franchissement de 31,96 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - MERSEN (EX. CARBONE LORRAINE) : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €28.65. The next target is at €24.59, then €22.91. Passing €31.96 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - MERSEN (EX. CARBONE LORRAINE) : La reprise est une consolidation.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 28,65 € prochainement. Le prochain objectif est à 24,59 €, puis 22,91 €. Le franchissement de 31,96 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Medium term view - MERSEN (EX. CARBONE LORRAINE) : The trend is uncertain.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

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