Orpea S.A.

ORPEA is a dependency, physical and psychiatric care group based in France. Co. operates long-term and short-term care facilities, including medical care facilities, medical and social care facilities and residential facilities for the elderly. Co. provides short, medium and long-term global physical and mental dependency care. Co. also operates residential facilities for disabled people of any age, hotels, and hotel-related, as well as leisure accommodation facilities. Co. operates in France and abroad (Belgium, Italy, Spain and Switzerland) in three business segments: Long-term care facilities (nursing homes); Post-acute and Rehabilitation care facilities; and Psychiatric care facilities.
  • TickerORP
  • ISINFR0000184798
  • ExchangeEuronext Paris
  • SectorHealth Care Equipment & Services
  • CountryFrance

Analysts

Bruno de La Rochebrochard

ORPEA: Q3 revenue ahead consensus with FY guidance adjusted upwards. New acquisition in Germany to expand high-end nursing homes | BUY | EUR125

ORPEA - BUY | EUR125(+16%) Q3 revenue ahead consensus with FY guidance adjusted upwards. New acquisition in Germany to expand high-end nursing homes Solid Q3 organic revenue growth FY guidance upgraded but already acted by consensus New acquisition in Germany to build up an offer in the premium nursing home segment in that geography

Charles Lepetitpas ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Jean-François Granjon
  • Jeremy Garnier
  • Nicolas David
  • Oussema Denguir
  • Pierre Corby

ODDO BHF Small & MIDCAP MORNING NEWS - 11/06/2018

...

Alexandre Iatrides ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Philippe Ourpatian
  • Stephane Houri
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/06/2018

...

Charles Lepetitpas ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Jean-François Granjon
  • Jeremy Garnier
  • Nicolas David
  • Oussema Denguir
  • Pierre Corby

ODDO BHF Small & MIDCAP MORNING NEWS - 06/11/2018

...

Remi Ramadou

ORPEA- Rating Report

Founded in 1989 and based in Puteaux, France, Orpea is one of the largest operators of nursing homes in France and Europe (#1-2), competing head-to-head with Korian. Orpea has 73,270 beds opened in 819 facilities, 57% of which are outside France. In 2017, the company had annual sales of €3.1bn and an EBITDA of €550m. While nursing homes are the main activity (about two-thirds of sales), the company also has a strong foothold in post-acute & rehabilitation care facilities as well as in psychiatric clinics, which together account for one-third of sales.

Remi Ramadou

Orpea- 2H17 - Strong sales dynamics; lower real estate spending should help deleveraging

Orpea, the French nursing home operator, held a conference call today to comment on satisfactory 2H17 results. Once again, the group outperformed its main competitor Korian in terms of sales dynamics and profitability. Orpea had previously published solid 2H17 sales figures, which showed a rise of 10.4% yoy to €1.59bn, including 5.4% of organic growth (vs. 2.3% for Korian) and 5.1% from bolt-on acquisitions.

Christophe-Raphaël Ganet

Orpea : Issuance Focus

Orpea, the European leader in retirement homes, is poised to launch its first public non-convertible bond issue. Traditionally financed by banks, the group has gradually diversified its debt by issuing its first convertible bond in 2010 and launching private bond placements in the Schuldschein and Euro PP formats from 2012. Orpea wants to raise at least € 300m from this new bond issue, with a maturity of 5-7 years. This operation will extend the average maturity of debt and generate funds for future acquisitions.The group has an excellent image in the equity and debt markets thanks to a very c...

Christophe-Raphaël Ganet

Orpea : Focus Emission

Orpea, le leader européen des maisons de retraite, s’apprête à réaliser sa première émission obligataire publique non convertible. Traditionnellement financé par les banques, le groupe a peu à peu diversifié son endettement en émettant sa première obligation convertible en 2010 et des placements privés obligataires au format Schuldschein et Euro PP à partir de 2012. Le groupe souhaite lever à travers cette nouvelle opération au moins 300 m EUR pour une durée comprise entre 5 et 7 ans. L’opération permettra de financer le développement soutenu du groupe (construction de nouveaux établissements ...

Bruno de La Rochebrochard

ORPEA: Q3 revenue ahead consensus with FY guidance adjusted upwards. New acquisition in Germany to expand high-end nursing homes | BUY | EUR125

ORPEA - BUY | EUR125(+16%) Q3 revenue ahead consensus with FY guidance adjusted upwards. New acquisition in Germany to expand high-end nursing homes Solid Q3 organic revenue growth FY guidance upgraded but already acted by consensus New acquisition in Germany to build up an offer in the premium nursing home segment in that geography

Alexandre Iatrides ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Philippe Ourpatian
  • Stephane Houri
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/06/2018

...

Christophe-Raphaël Ganet

Orpea : Q3 2018 sales: organic growth still at 5% and small acquisition in premium segment

>Q3 in line with our estimates: +8.5% - Q3 sales totalled € 865m, up 8.5% or 5% organic.For the first nine months, sales came to € 2,545m, up 9.6% (organic: +5.1% / 2,100 opened YTD).In parallel, Orpéa announced the takeover of Axion. This company was created in 2001 by Nikolaos Tavridis, its current CEO. It specialises in retirement homes with a premium model. It has seven facilities totalling 985 beds, including two with 275 top-of-the-range beds in Hambur...

Alexandre Iatrides ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Philippe Ourpatian
  • Stephane Houri
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/11/2018

...

Christophe-Raphaël Ganet

Orpea : CA T3 2018 : organique toujours à 5% et petite acquisition sur le segment premium

>T3 conforme à notre attente : +8,5% - Les revenus du T3 ont atteint 865 M€, soit une croissance de 8,5% dont 5% en organique.Sur 9 mois, le CA atteint 2 545 M€, en hausse de 9,6% (organique : +5,1% / 2100 ouverts YTD).Parallèlement, Orpéa annonce le rachat d'Axion (créé en 2001 par M.Tavridis, son dirigeant actuel et spécialisé dans les maisons de retraite sur un modèle premium / 7 établissements regroupant 985 lits dont 2 établissements totalisant 275 lits...

1 director sold

A director at Orpea sold 550,000 shares at 116.000EUR and the significance rating of the trade was 71/100. 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 ...

Charles Lepetitpas ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Jean-François Granjon
  • Jeremy Garnier
  • Nicolas David
  • Oussema Denguir
  • Pierre Corby

ODDO BHF Small & MIDCAP MORNING NEWS - 11/06/2018

...

Charles Lepetitpas ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Jean-François Granjon
  • Jeremy Garnier
  • Nicolas David
  • Oussema Denguir
  • Pierre Corby

ODDO BHF Small & MIDCAP MORNING NEWS - 06/11/2018

...

Ahmed Ben Salem ...
  • Alex Koagne
  • Alexandre Iatrides
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Olfa Taamallah
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Tegner
  • Pierre Corby
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/31/2018

...

Ahmed Ben Salem ...
  • Alex Koagne
  • Alexandre Iatrides
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Olfa Taamallah
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Tegner
  • Pierre Corby
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 31/10/2018

...

Alex Koagne ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Jean Sassus
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 10/15/2018

...

ORPEA SA sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of ORPEA SA (FR), active in the Health Care Providers industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date September 28, 2018, the closing price was EUR 111.40 and its target price was estimated at EUR 105.14.

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...

Jehanne Leroy

proxy report 28/06/2018

Cette année encore, la société améliore sa communication sur les rémunérations attribuées aux dirigeants en communiquant désormais les performances réalisées pour chacun des critères du bonus annuel 2017. Cependant, elle ne communique pas le poids de chacun de ces critères. Par ailleurs, le plan d'actions gratuites mis en place en 2017 comprend une condition de performance mesurée sur 2 ans seulement, ce qui ne respecte ni nos préconisations, ni les pratiques de place. Ainsi, nous ne pouvons pas soutenir les résolutions 8 et 9. Cependant, à compter de 2018, la société porte à 3 ans la durée d...

Jehanne Leroy

Etude de l'AG du 22/06/2017

Le 28 mars 2017, Jean-Claude Marian, fondateur de la société en 1989, et Président du Groupe a démissionné de ses fonctions de Président. Celles-ci ont alors été confiées à Philippe Charrier. La société améliore la composition de son conseil puisque le taux d'indépendance selon Proxinvest passe de 20% à 45%. Cependant, le conseil n'étant pas majoritairement indépendant, nous ne pouvons pas soutenir les candidatures de M. Coirbay et Mme Verlé. Par ailleurs, la société améliore aussi sa communication sur les rémunération de ses dirigeants, cependant, celle-ci demeure bien en deçà des standards...

Etude de l'AG du 14/12/2016

La présente assemblée générale est convoquée afin de nommer deux nouvelles administratrices. Ces nominations porteront le taux de féminisation du conseil de 30% à 41,7%, ce qui est en ligne avec la Loi Copé-Zimmerman préconisant qu'à l'issue de l'assemblée générale 2017, le taux de diversité des genres au sein des conseils soit au minimum de 40%.Par ailleurs, ces deux administratrices sont libres de tout conflit d'intérêts, ce qui améliore le taux d'indépendance du conseil (qui passe ainsi de 20% à 33,33%).

SRI Quantitative KPIs

Les analyses Gaïa sont des analyses ESG (Environnement, Social, Gouvernance) dediees aux entreprises de tailles intermediaires (PME, ETI) françaises. Elles presentent 120 indicateurs quantitatifs sur les trois derniers exercices.

Jérôme VINERIER

Analyse court terme - ORPEA : La tendance est incertaine.

La tendance est incertaine. Les cours se sont repris, mais la tendance manque de puissance pour le moment. Les Stochastiques sont en zone de surachat. Les cours pourraient se replier jusqu'à 96,93 €.

Jérôme VINERIER

Short term view - ORPEA : The trend is uncertain.

The trend is uncertain. Prices have recovered but the trend lacks power for the time being. Stochastics are at the overbought level. prices could fall again to €96.93.

Jérôme VINERIER

Short term view - ORPEA : Overbought stochastics

The trend is bearish. The recovery is a consolidation. Stochastics are at the overbought level. The fall can soon resume toward €96.93. The background trend would be questioned should prices rise above €118.50.

Jérôme VINERIER

Analyse court terme - ORPEA : Stochastiques en zone de surachat.

La tendance est baissière. La reprise est une consolidation. Les Stochastiques sont en zone de surachat. La baisse peut bientôt reprendre vers 96,93 €. La tendance de fond serait remise en cause en cas de franchissement de 118,50 €.

Jérôme VINERIER

Medium term view - ORPEA : The recent fall is getting more vigorous.

The trend is bullish. The recent fall is getting more vigorous. The next support is at €86.70. A break below €86.70 would challenge the trend.

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