Eurazeo is a listed investment company in Europe. Co. invests in French or other European companies in which it can exercise influence. Co. divides its operaion in five divisions: Holding company, Eurazeo Capital, Eurazeo PME, Eurazeo Croissance, and Eurazeo Patrimoine. Holding company focuses on investment in non-consolidated fund business; Eurazeo Capital invests in companies valued over Euro150,000,000 to Euro200,000,000; Eurazeo PME invests in enterprises valued at less than Euro150,000,000 to Euro200,000,000; Eurazeo Croissance targets companies with high growth potential in promising markets; and Eurazeo Patrimoine groups Co.'s real estate asset management and investment activities.
  • TickerRF
  • ISINFR0000121121
  • ExchangeEuronext Paris
  • SectorFinancial Services
  • CountryFrance

Analysts

Expert Corporate Governance Service (ECGS)

Eurazéo SE - AGM 25 April 2019

ITEM 7: the 2019 remuneration policy of Members of the Management Board does not comprise any significant change compared to the previous one. Thus, concerns raised in previous years are still relevant: LTI could still vest in case of underperformance and amounts that could be granted are still excessive. Thus, overall, this new remuneration policy is not satisfactory and we do not support it. ITEM 9: the company’s disclosure of remunerations granted to the Members of the Management Board is satisfactory, as well as the structure of their remuneration; however, LTI could still vest in case of...

Jehanne Leroy

Eureazeo - Assemblée générale des actionnaires du 25 avril 2019

RémunérationsLa communication de la société sur les rémunérations attribuées à ses dirigeants est bonne, et permet une bonne compréhension des montants du bonus attribués. Cependant, les conditions de performance de la rémunération long-terme permettent l’acquisition en cas de sous-performance, ce qui n’est pas acceptable pour une société de l’envergure d’Eurazeo. Par ailleurs, les montants attribués à Mme Morgon (dont 22% sont une prime d’expatriation) sont excessifs. Aussi, nous ne soutenons pas la rémunération 9. Concernant les autres membres du Directoire, les montants qui leur ont été att...

1 director bought

A director at Eurazeo bought 462 shares at 69.100EUR and the significance rating of the trade was 69/100. 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...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Europe & the UK remain in focus The MSCI ACWI ex-U.S. is breaking topside its nearly 14-month downtrend and above key resistance. The move is being fueled by improvements throughout most of Europe and the UK, along with strength in China over the past 2-3 months. We believe these positive developments are supportive of higher equity prices moving forward. As a result of these and several other observations highlighted below, our outlook on global equities is positive. • Europe & the UK. As has been the case over the last several weeks, a major focus of ours within global equities (ex-U.S.) h...

Antoine Boivin-Champeaux ...
  • Aurelien Sivignon
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jeremy Garnier
  • Jerôme Bodin
  • Laurence Hofmann
  • Nicolas David
  • Salma Bouraoui
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 03/15/2019

...

Christophe Chaput ...
  • Geoffroy Michalet

Eurazeo : Feedback roadshow : la transformation à marche forcée – Achat vs Neutre

>Feedback roadshow management Paris - A l’occasion d’un roadshow Eurazeo à Paris, nous avons fait le point avec le management sur sa stratégie et ses perspectives de développement à court/moyen terme. Réflexion sur l’investissement du bilan dans les fonds : aujourd’hui investisseur majoritaire des différents fonds lancés par les sociétés de gestion d’actifs et ouverts à des investisseurs tiers, Eurazeo prévoit un développement organique des nouvelles stratégies s...

Christophe Chaput ...
  • Geoffroy Michalet

Eurazeo : Brisk growth in 2018 earnings – 31 December: € 77.5 per share

>+4.2% rise in NAV - Eurazeo reported this morning NAV of € 77.5, i.e. a +4.2% increase (+5.7% dividend included). By division, value creations have had strong differences.Eurazeo Capital (56% of NAV): +3.0%, with three divestments (Accor x2, Asmodée x4, Desigual x0.5), either partial or total. The divestment of Neovia in 2019 will be undertaken at an exit multiple of x2.Eurazeo PME (6% of NAV): +15.8%, with two disposals (Odealim x2 / IRR 41%, Vignal Lighti...

Christophe Chaput ...
  • Geoffroy Michalet

Eurazeo : Croissance soutenue des résultats 2018 – ANR : 77.5 € par action

>Progression de l’ANR +4.2% - Eurazeo publie ce matin son ANR à 77.5 €, une progression de 4.2% (+5.7% dividende inclus). Par division, les créations de valeur ont des différences marquées.Eurazeo Capital (56% de l’ANR) : +3.0%, avec 3 cessions totales (Accor x2, Asmodée x4, Desigual x0.5) ou partielles. La cession en 2019 de Neovia se fera sur un multiple de sortie de x2.Eurazeo PME (6% de l’ANR) : +15.8%, avec 2 cessions (Odealim x2 / TRI 41%, Vignal Light...

Christophe Chaput ...
  • Hela Zarrouk

Eurazeo : Q3 release confirms quality of assets in portfolio and robust momentum in AuM

>Q3 economic revenue remained very brisk: +9.9% on constant scope and exchange rates - For Q3, Eurazeo group reported economic revenue of € 1.373bn after restatement of disposals in progress, i.e. growth of 11.5% at constant Eurazeo scope and 9.9% on constant Eurazeo scope and exchange rates. This represents a good performance after a particularly sound first half (respectively +13% and +17.5%) and takes growth in 9m 2018 to respectively 12.5% and 14.8%. On constant s...

Christophe Chaput ...
  • Hela Zarrouk

Eurazeo : Une publication T3 qui confirme la qualité des actifs en portefeuille et le dynamisme de la gestion pour compte de tiers.

>Un chiffre d’affaires T3 qui reste très soutenu : +9.9% à ptcc - Au titre de son T3, le groupe Eurazeo publie un chiffre d’affaires de 1 373 M€ après retraitement des cessions en cours soit une progression de 11.5% à périmètre Eurazeo constant et de 9.9% à périmètre Eurazeo et taux de change constants. Cette évolution est une bonne performance après un premier semestre particulièrement soutenu (respectivement +13% et +17.5%) et porte la progression sur 9m à respectiv...

1 director bought

A director at Eurazeo bought 462 shares at 69.100EUR and the significance rating of the trade was 69/100. 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...

Antoine Boivin-Champeaux ...
  • Aurelien Sivignon
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jeremy Garnier
  • Jerôme Bodin
  • Laurence Hofmann
  • Nicolas David
  • Salma Bouraoui
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 03/15/2019

...

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. - ...

Antoine Boivin-Champeaux ...
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jeremy Garnier
  • Jerôme Bodin
  • Laurence Hofmann
  • Nicolas David
  • Salma Bouraoui
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 15/03/2019

...

Christophe Chaput ...
  • Christophe-Raphaël Ganet
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Oussema Denguir
  • Pierre Corby

ODDO BHF Small & MIDCAP MORNING NEWS - 03/08/2019 Date Performance since listing Date Performance since listing

Sixt Leasing, an independent player in the German vehicle leasing and fleet management market, stands out for its strong momentum in the online retail and fleet management segments and its capacity to handle the diesel risk effectively. These strengths should pave the way for buoyant growth over the coming years (2018-2021e CAGR of +8% for revenue and 15% for pre-tax profit) and a rerating of the stock (target price € 18.1, i.e. 34% upside). We are initiating coverage of the stock wit...

Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/08/2019

An objective examination of the growth drivers of indices (macroeconomic growth expectations, EPS momentum, monetary conditions and the cost of capital) leads us to believe that the momentum observed since the start of the year cannot be maintained in the short term. In short, the market (Stoxx 600) is ahead of its transition times and should enter a fluctuation band that we estimate at between 355 and 384 points. Consequently, the most rational attitude consists in a total or partial...

EURAZEO SE sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of EURAZEO SE (FR), active in the Specialty Finance industry. As regards its fundamental valuation, the title now shows 1 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 October 23, 2018, the closing price was EUR 62.50 and its target price was estimated at EUR 59.38.

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...

MarketLine Department

Groupe Bruxelles Lambert SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Groupe Bruxelles Lambert SA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Groupe Bruxelles Lambert SA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its compet...

Expert Corporate Governance Service (ECGS)

Eurazéo SE - AGM 25 April 2019

ITEM 7: the 2019 remuneration policy of Members of the Management Board does not comprise any significant change compared to the previous one. Thus, concerns raised in previous years are still relevant: LTI could still vest in case of underperformance and amounts that could be granted are still excessive. Thus, overall, this new remuneration policy is not satisfactory and we do not support it. ITEM 9: the company’s disclosure of remunerations granted to the Members of the Management Board is satisfactory, as well as the structure of their remuneration; however, LTI could still vest in case of...

Jehanne Leroy

Eureazeo - Assemblée générale des actionnaires du 25 avril 2019

RémunérationsLa communication de la société sur les rémunérations attribuées à ses dirigeants est bonne, et permet une bonne compréhension des montants du bonus attribués. Cependant, les conditions de performance de la rémunération long-terme permettent l’acquisition en cas de sous-performance, ce qui n’est pas acceptable pour une société de l’envergure d’Eurazeo. Par ailleurs, les montants attribués à Mme Morgon (dont 22% sont une prime d’expatriation) sont excessifs. Aussi, nous ne soutenons pas la rémunération 9. Concernant les autres membres du Directoire, les montants qui leur ont été att...

Eurazéo – Proxinvest Corporate Governance Rating ® : C

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 - 25/04/2018

On June, 5th 2017, JCDecaux Holding acquired 16.36% of Eurazeo’s capital. This happened 1 month after Tikehau disclosed holding 7.6% of the company’s capital (including 5.1% from Sofina) The Chairman of the Management Board’s mandate was not renewed; hence, on March, 19th 2018, Patrick Sayer quit his functions and was replaced by Virginie Morgon. His termination package comprises a severance payment (amounting to more than €4 M). He also keeps the benefit of his options and performance shares not yet vested (€5.1 M) as well as the benefit of his pension plan. His termination package (pension ...

Jehanne Leroy

Proxy Report - 25/04/2018

Le 5 juin 2017, JCDecaux Holding est entré au capital d’Eurazéo à hauteur de 16,36% du capital, reprenant la participation de Crédit Agricole. Cette entrée au capital a eu lieu 1 mois après que Tikehau n’ait déclaré à l’AMF détenir 7,6% du capital d’Eurazeo (dont 5,1% acquis auprès de Sofina).   Le mandat de Président du Directoire de Patrick Sayer n’a pas été renouvelé ; ainsi, le 19 mars 2018, il a quitté ses fonctions et a été remplacé par Virginie Morgon. Son package de départ comprend une indemnité de départ de plus de 4 M€, ainsi que le maintien de ses options et actions de performance...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Europe & the UK remain in focus The MSCI ACWI ex-U.S. is breaking topside its nearly 14-month downtrend and above key resistance. The move is being fueled by improvements throughout most of Europe and the UK, along with strength in China over the past 2-3 months. We believe these positive developments are supportive of higher equity prices moving forward. As a result of these and several other observations highlighted below, our outlook on global equities is positive. • Europe & the UK. As has been the case over the last several weeks, a major focus of ours within global equities (ex-U.S.) h...

Jérôme VINERIER

Short term view - EURAZEO : 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 €65.20. The next target is at €60.99, then €59.00. Passing €69.20 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - EURAZEO : 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 65,20 € prochainement. Le prochain objectif est à 60,99 €, puis 59,00 €. Le franchissement de 69,20 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - EURAZEO : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €60.99. The background trend would be questioned should prices rise above €69.20.

Jérôme VINERIER

Analyse court terme - EURAZEO : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 60,99 €. La tendance de fond serait remise en cause en cas de franchissement de 69,20 €.

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