Unilever N.V. CVA

Unilever is engaged in the supply of consumer goods in foods, household care and personal products. Co.'s activities are carried out through four categories: Personal Care, sales of skin care and hair care products, deodorants and oral care products; Home Care, sales of home care products, such as powders, liquids and capsules, soap bars and a range of cleaning products; Foods, sales of soups, bouillons, sauces, snacks, mayonnaise, salad dressings, margarines and spreads; and Refreshment, sales of ice cream and tea-based beverages. Co.'s products are sold in over 190 countries around the world.
  • TickerUNA
  • ISINNL0000009355
  • ExchangeEuronext Amsterdam
  • SectorPersonal Goods
  • CountryNetherlands

Analysts

Research Department

EUROSTOXX50: INFORME ANUAL OCTUBRE 2019 (ANÁLISIS BANCO SABADELL)

Informe Anual Euro Stoxx 50 Publicamos nuestro informe anual del EuroStoxx50, donde revisamos estimaciones y P.O. de todas las compañías de nuestro universo de cobertura. Hemos realizado 2 cambios de recomendación en este informe pasando a VENDER: Safran y a COMPRAR: ING. Además, iniciamos cobertura de Philips, con recomendación de COMPRAR y P.O. 48,50 euros/acc. (potencial +21%). Del total de los valores cubiertos (43) hay un 74% en COMPRAR (vs 79% en nuestro anterior informe) y 26% en VENDER (vs 21% anterior). Desde el punto de vista Top down, nuestro P.O. del ES50 es 3.130 puntos para dicie...

1 director sold

A director at Unilever NV sold 5,580 shares at 56.730EUR and the significance rating of the trade was 75/100. 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 mem...

Arancha Pineiro

UNILEVER: MENSAJES DE LA CONFERENCE CALL RDOS. 1S19 (ANÁLISIS BANCO SABADELL)

UNILEVER: MENSAJES DE LA CONFERENCE CALL RDOS. 1S19 (ANÁLISIS BANCO SABADELL)

Arancha Pineiro

UNILEVER: RDOS. 1S19 (ANÁLISIS BANCO SABADELL)

UNILEVER: RDOS. 1S19 (ANÁLISIS BANCO SABADELL)

Loic Morvan ...
  • Virginie Roumage

HPC | Vers une beauté digitalisée, naturelle et personnalisée

SECTOR | HPC | Vers une beauté digitalisée, naturelle et personnalisée Le marché mondial de la beauté continue à être particulièrement bien orienté. Nous pensons qu’il devrait progresser de 5% en 2019 (+5.5% en 2018), ce qui se compare à un TCAM de 4% depuis 2007. Les principaux relais de croissance demeurent la premiumisation, la montée en puissance des classes moyennes dans les pays émergeants, l’urbanisation grandissante (en particulier dans les nouveaux marchés) et le vieillissement de la population mondiale (spécialement dans les pays développés)

Research Department

EUROSTOXX50: INFORME ANUAL OCTUBRE 2019 (ANÁLISIS BANCO SABADELL)

Informe Anual Euro Stoxx 50 Publicamos nuestro informe anual del EuroStoxx50, donde revisamos estimaciones y P.O. de todas las compañías de nuestro universo de cobertura. Hemos realizado 2 cambios de recomendación en este informe pasando a VENDER: Safran y a COMPRAR: ING. Además, iniciamos cobertura de Philips, con recomendación de COMPRAR y P.O. 48,50 euros/acc. (potencial +21%). Del total de los valores cubiertos (43) hay un 74% en COMPRAR (vs 79% en nuestro anterior informe) y 26% en VENDER (vs 21% anterior). Desde el punto de vista Top down, nuestro P.O. del ES50 es 3.130 puntos para dicie...

Arancha Pineiro

UNILEVER: MENSAJES DE LA CONFERENCE CALL RDOS. 1S19 (ANÁLISIS BANCO SABADELL)

UNILEVER: MENSAJES DE LA CONFERENCE CALL RDOS. 1S19 (ANÁLISIS BANCO SABADELL)

Arancha Pineiro

UNILEVER: RDOS. 1S19 (ANÁLISIS BANCO SABADELL)

UNILEVER: RDOS. 1S19 (ANÁLISIS BANCO SABADELL)

Loic Morvan ...
  • Virginie Roumage

HPC-Food | No top pick for Q3; L’Oréal downgraded to Neutral

HPC-Food | No top pick for Q3; L’Oréal downgraded to Neutral Share performances proved strong in Q2 What to expect in Q3 Unilever: not in the top pick list in Q3 L'Oréal: not in our Q3 top pick list, downgraded to Neutral.

Virginie Roumage

UNILEVER: Ice creams to be very weak in Q2 | BUY - Top Picks | EUR57(+6%)

UNILEVER - BUY - Top Picks | EUR57(+6%) Ice creams to be very weak in Q2 Bad weather conditions in Europe in Q2 Slight revision of your full-year forecasts Buy maintained

1 director sold

A director at Unilever NV sold 5,580 shares at 56.730EUR and the significance rating of the trade was 75/100. 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 mem...

Alexandre Iatrides ...
  • Alfred Glaser
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Louis Boujard
  • Martial Descoutures
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Rémi Adam
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/31/2019

This report assesses the consequences for BMW and Daimler of a “possible” scenario: an increase in US tariffs on imports from Europe (from 2.5% to 15%) and a decline in Chinese tariffs (from 25% to 15% irrespective of the origin). We estimate: i) the impact on EBIT at -€ 1.2bn for both, i.e. respectively 15% and 10%, and ii) the impact on the valuation at -€ 13.9bn and -€ 14.9bn, which are impressive figures but not realistic. Any increase in US tariffs would result in the relocation ...

Alfred Glaser ...
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Olivier Lebrun
  • Pierre Tegner
  • Samantha Jeary
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/29/2019

The stock has significantly underperformed the sector since the end of 2017, following the acquisition of XL Group. We believe that the current discount to the sector (over 25%) is unjustified. The prospect of favourable 2019 results and the group’s deleveraging should support its re-rating. AXA is part of our Oddo BHF Large Cap Convictions List; we revised our target price up to € 28 at the end of 2019. - See report published this morning. - ...

Alfred Glaser ...
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Olivier Lebrun
  • Pierre Tegner
  • Samantha Jeary
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 29/01/2019

Le titre a fortement sous-performé le secteur depuis fin 2017, du fait de l’acquisition de XL Group. La décote actuelle par rapport au secteur (de plus de 25%) nous semble injustifiée. Les perspectives de résultats 2019 favorables et le désendettement du groupe devraient favoriser le re-rating du titre. AXA fait partie de notre liste de Convictions Oddo BHF large cap et nous avons un objectif de cours à fin 2019 revu à 28 €. Cf étude publiée ce matin. - ...

Antoine Boivin-Champeaux ...
  • Christophe Chaput
  • Pierre Tegner
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/30/2018

...

Antoine Boivin-Champeaux ...
  • Christophe Chaput
  • Pierre Tegner
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 30/11/2018

...

Unilever NV

Unilever NV

Unilever NV

UNILEVER DUTCH CERT. loses on its star level and is downgraded to Slightly Positive

The independent financial analyst theScreener just slightly lowered the general evaluation of UNILEVER DUTCH CERT. (NL), active in the Personal Products industry. The title has lost a star(s) at the fundamental level and now shows 2 out of 4 stars. Its exposure to market risk remains nonetheless the same and can be still described as defensive. theScreener slightly downgrades the general evaluation to Slightly Positive for the title on account of the lost star(s). As of the analysis date April 16, 2019, the closing price was EUR 50.85 and its potential was estimated at EUR 53.58.

Unilever NV

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/CSPP2, Swedbank, Unilever and Telecom Italia

Strategy: Emperor Draghi's not naked, the ECB has corporates (and banks) in CSPP2

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Unilever, T-Mobile & Sprint, and Uniper

Unilever looking at further acquisitions

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Unilever and E.ON

Unilever (UNANA) is reported to be considering a US$1bn bid for US skincare brand Drunk Elephant, which we believe will have a neutral effect on spreads. Drunk Elephant generated sales of US$150m last year, according to an article on Bloomberg. Assuming Drunk Elephant runs the same EBITDA margin as Unilever, the transaction would add less than 0.1x to net adjusted leverage, which stood at 2.3x at end-FY18 by our calculations. The transaction would fit in Unilever's trend of snapping up smaller high-growth businesses. Unilever's Beauty & Personal Care segment recorded the highest underlying ope...

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Nestle, Unilever, Pernod, Deutsche Bank

Nestlé (NESNVX) reported sales that beat estimates this morning. Revenue for the group came in at CHF22,183m (consensus: CHF22.1bn) Organic growth was 3.4% against consensus of 2.8% and FY18 growth of 3.0%. Real internal growth (RIG), i.e. volumes, were up 2.2% (cons.: 1.7%), while pricing added 1.2% on the back of increases in Brazil and the US. Guidance for the year ahead was confirmed with a continued improvement in organic sales growth. The underlying trading operating margin is expected to grow towards the 2020 target of 17.5-18.5% (FY18: 17.0%). We view today's announcement as neutral fo...

ING
Hendrik Wiersma ...
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Benelux Credit Digest/Issuer Profiles

Once again, it is with great pleasure that we present the eleventh edition of our Benelux Credit Digest, our annual overview of the key fundamentals and credit metric developments of the most important corporate and financial credits in Belgium, the Netherlands and Luxembourg.

Loic Morvan ...
  • Virginie Roumage

HPC | Vers une beauté digitalisée, naturelle et personnalisée

SECTOR | HPC | Vers une beauté digitalisée, naturelle et personnalisée Le marché mondial de la beauté continue à être particulièrement bien orienté. Nous pensons qu’il devrait progresser de 5% en 2019 (+5.5% en 2018), ce qui se compare à un TCAM de 4% depuis 2007. Les principaux relais de croissance demeurent la premiumisation, la montée en puissance des classes moyennes dans les pays émergeants, l’urbanisation grandissante (en particulier dans les nouveaux marchés) et le vieillissement de la population mondiale (spécialement dans les pays développés)

Loic Morvan ...
  • Virginie Roumage

HPC | A more digitalized, natural and personalized beauty

SECTOR | HPC | A more digitalized, natural and personalized beauty The global beauty market remains particularly robust. We believe it should grow by 5% in 2019 (+5.5% in 2018), compared with a CAGR of 4% since 2007. The main sources of growth drivers are still premiumisation, the expanding middle classes in emerging markets, widespread urbanisation (especially in new markets) and the ageing global population (especially in western countries).

MarketLine Department

Kao Corporation - Strategy, SWOT and Corporate Finance Report

Summary Kao Corporation - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Kao Corporation (Kao or 'the company') is a Japanese cosmetic and chemical company that develops and distributes beauty care, healthcare and fabric, chemical and home care products. Kao offers products such as, cosmetics, conditioners, body and facial cleansers, shampoos, styling agents, soa...

MarketLine Department

Orkla ASA - Strategy, SWOT and Corporate Finance Report

Orkla ASA - Strategy, SWOT and Corporate Finance Report Summary Orkla ASA - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Orkla ASA (Orkla or ‘the company’) is a supplier of branded consumer goods and concept solutions to grocery, specialist retailers, bakery and out-of-home markets. The company’s products include margarine and butter blends, marzipan and ice c...

MarketLine Department

The Coca-Cola Co - Strategy, SWOT and Corporate Finance Report

The Coca-Cola Co - Strategy, SWOT and Corporate Finance Report Summary The Coca-Cola Co - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights The Coca-Cola Company (Coca-Cola) is a manufacturer, distributor and marketer of non-alcoholic beverages. The company offers sparkling beverages and a variety of still beverages including juices and juice drinks, waters, enhanc...

Expert Corporate Governance Service (ECGS)

Unilever NV, 26 June 2019

Shareholders should note that this is an EGM of depository receipt holders of Stichting Administratiekantoor Unilever N.V. ("the Trust Office"). Under ITEM 2, The board of directors of the Trust Office seeks approval to terminate the current depositary receipt (DR) structure. As a matter of principle, ECGS strongly supports the "one-share, one-vote" principle upholding the democratic notion that shareholder rights and voting power should be proportional to ownership risk. ECGS furthermore notes that holders of Bearer Certificates may exchange their Bearer Certificates for ordinary shares fre...

Expert Corporate Governance Service (ECGS)

Unilever NV - AGM 01 May 2019

In general, Unilever NV (Unilever) is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 3, approval is sought for the Company's remuneration report. As the maximum variable salary, in aggregate corresponding to 852% of annual base salary, substantially exceeds the threshold of 300% of annual base salary under its guidelines, ECGS recommends to vote OPPOSE. Under ITEMS 6-19, it is proposed to (re-)elect the board of directors. In view of concerns over aggregate time commitments, ECGS recommends to vote OPPOSE to the...

Unilever – Proxinvest Corporate Governance Rating ® : B

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...

Jérôme VINERIER

Short term view - UNILEVER NV : The trend is bullish.

The trend is bullish. The current fall looks like a consolidation. The support at €46.500 could cause a bullish reaction towards €48.600. The break of €44.778 would endanger the trend.

Jérôme VINERIER

Analyse court terme - UNILEVER NV : La tendance est haussière.

La tendance est haussière. La baisse en cours s'apparente à une consolidation. Le support à 46,500 € pourrait relancer le mouvement haussier vers 48,600 €. La rupture de 44,778 € mettrait la tendance en danger.

Matthieu DRIOL

Analyse court terme - UNILEVER NV : La tendance est incertaine.

La tendance est incertaine. Les cours baissent, mais la tendance manque de puissance pour le moment. Le prochain support est à 46,850 €.

Matthieu DRIOL

Short term view - UNILEVER NV : The trend is uncertain.

The trend is uncertain. Prices are falling, but the trend is lacking power for the time being. The next support is at €46.850.

Matthieu DRIOL

Analyse moyen terme - UNILEVER NV : La correction gagne en vigueur.

La tendance de fond est clairement orientée à la hausse. La correction en cours gagne en vigueur. Il est trop tôt pour parler de retournement baissier. La tendance serait invalidée sous le support à 41,483 €.

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