Whitbread PLC

Whitbread is a hospitality company. Co. serves its customers in the U.K. and beyond through its two businesses: Premier Inn and Restaurants; and Costa. Premier Inn is a hotel business, with over 760 hotels and more than 68,000 rooms as of Mar 2 2017. Co.'s hotel are located alongside its own restaurant brands. Co. also have hotels in the Middle East, and Germany, with more hotels in the pipeline. Costa is the coffee shop, with over 2,200 coffee shops in the U.K., over 1,300 stores in 29 international markets and over 6,800 Costa Express self-serve units as of Mar 2 2017.
  • TickerWTB
  • ISINGB00B1KJJ408
  • ExchangeLondon Stock Exchange
  • SectorTravel & Leisure
  • CountryUnited Kingdom

Analysts

Alain William ...
  • Azza Khalfallah
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Oussema Denguir

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/22/2019

A return to top-line growth at the fixed and mobile activities, normalisation of net-adds, value-creating infrastructure deals, Iliad has gone to great pains to reinvent itself, enabling the group to restore an intrinsic value (target price € 180) that far outstrips its current share price. - ...

Alain William ...
  • Azza Khalfallah
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Oussema Denguir

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 22/10/2019

Retour à la croissance topline fixe et mobiles, normalisation des net adds, transaction infrastructures créatrices de valeur, Iliad s’est réinventé dans la douleur, de quoi renouer avec une valeur intrinsèque (OC 180 €) plus riche que le cours actuel. - ...

Fehmi Ben Naamane ...
  • Matthias Desmarais

Whitbread : H1 results reflecting challenging momentum – Reduce maintained

>Weak H1 results overall - Whitbread’s H1 results (at end-August) were weak overall, but they are slightly ahead of expectations. The group reported H1 revenues of £ 1,078m, stable vs the same period of 2018 (vs -1.1% in Q1 compared with historic levels of around 10%). The group's organic growth came to -3.6% for Premier Inn (-2.7% in Q2 vs -4.6% in Q1) and -1.2% for F&B (-0.3% in Q3 vs -2.1% in Q1). The group's RevPAR showed a sharp contraction of 5% like-for-like (v...

Fehmi Ben Naamane ...
  • Matthias Desmarais

Whitbread : Des résultats S1 qui reflètent le momentum difficile – Alléger maintenu

>Des résultats S1 globalement faibles - Les résultats S1 (à fin août) de Whitbread ressortent globalement faibles, même s’ils sont légèrement au-dessus des attentes. Le groupe publie des revenus à 1 078 M£ sur le semestre, stables par rapport à la même période 2018 (vs -1.1% au T1 et comparé à des niveaux historiques aux alentours de 10%). La croissance organique groupe ressort à -3.6% pour Premier Inn (-2.7% au T2 vs -4.6% au T1) et -1.2% pour le F&B (-0.3% au T1 vs ...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Azza Khalfallah
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Fehmi Ben Naamane
  • Geoffroy Michalet
  • Jerôme Bodin
  • Johanna Jourdain
  • Sylvain Goyon, CFA
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/21/2019

Whilst we continue to think that the durable outperformance conditions (growth, rise in interest rates) of value are not present, we nonetheless acknowledge that the market is what it chooses to believe. At present, it is considering a rotation in favour of value. Our basic model for explaining the growth/value performance, provides a glimpse for the first time since 2011 (!) of a shift (H1 2020) in favour of value. Caution is the byword, but meanwhile we reiterate our advice of 16 Se...

Alain William ...
  • Azza Khalfallah
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Oussema Denguir

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/22/2019

A return to top-line growth at the fixed and mobile activities, normalisation of net-adds, value-creating infrastructure deals, Iliad has gone to great pains to reinvent itself, enabling the group to restore an intrinsic value (target price € 180) that far outstrips its current share price. - ...

Alain William ...
  • Azza Khalfallah
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Oussema Denguir

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 22/10/2019

Retour à la croissance topline fixe et mobiles, normalisation des net adds, transaction infrastructures créatrices de valeur, Iliad s’est réinventé dans la douleur, de quoi renouer avec une valeur intrinsèque (OC 180 €) plus riche que le cours actuel. - ...

Fehmi Ben Naamane ...
  • Matthias Desmarais

Whitbread : H1 results reflecting challenging momentum – Reduce maintained

>Weak H1 results overall - Whitbread’s H1 results (at end-August) were weak overall, but they are slightly ahead of expectations. The group reported H1 revenues of £ 1,078m, stable vs the same period of 2018 (vs -1.1% in Q1 compared with historic levels of around 10%). The group's organic growth came to -3.6% for Premier Inn (-2.7% in Q2 vs -4.6% in Q1) and -1.2% for F&B (-0.3% in Q3 vs -2.1% in Q1). The group's RevPAR showed a sharp contraction of 5% like-for-like (v...

Fehmi Ben Naamane ...
  • Matthias Desmarais

Whitbread : Des résultats S1 qui reflètent le momentum difficile – Alléger maintenu

>Des résultats S1 globalement faibles - Les résultats S1 (à fin août) de Whitbread ressortent globalement faibles, même s’ils sont légèrement au-dessus des attentes. Le groupe publie des revenus à 1 078 M£ sur le semestre, stables par rapport à la même période 2018 (vs -1.1% au T1 et comparé à des niveaux historiques aux alentours de 10%). La croissance organique groupe ressort à -3.6% pour Premier Inn (-2.7% au T2 vs -4.6% au T1) et -1.2% pour le F&B (-0.3% au T1 vs ...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Azza Khalfallah
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Fehmi Ben Naamane
  • Geoffroy Michalet
  • Jerôme Bodin
  • Johanna Jourdain
  • Sylvain Goyon, CFA
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/21/2019

Whilst we continue to think that the durable outperformance conditions (growth, rise in interest rates) of value are not present, we nonetheless acknowledge that the market is what it chooses to believe. At present, it is considering a rotation in favour of value. Our basic model for explaining the growth/value performance, provides a glimpse for the first time since 2011 (!) of a shift (H1 2020) in favour of value. Caution is the byword, but meanwhile we reiterate our advice of 16 Se...

1 director sold

A director at Whitbread sold 7,800 shares at 4,501p and the significance rating of the trade was 59/100. 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 ...

WHITBREAD PLC. increases its risk exposure and slightly lowers to Neutral

WHITBREAD PLC. (GB), a company active in the Restaurants & Bars industry, now shows a lower overall rating. The independent financial analyst theScreener confirms the fundamental rating of 2 out of 4 stars. However, the market behaviour deterioration triggered a risk requalification, which can be thus described as moderately risky. theScreener believes that increased risk justifies the general evaluation downgrade to Neutral. As of the analysis date September 6, 2019, the closing price was GBp 4,453.00 and its expected value was estimated at GBp 4,405.90.

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

Snoozebox Holdings plc - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Snoozebox Holdings plc 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 Snoozebox Holdings plc 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 competitive advan...

Expert Corporate Governance Service (ECGS)

Whitbread 19 June 2019

Item 2: Approve the Remuneration ReportAlthough the remuneration structure was previously considered satisfactory, the changed situation for long-term incentive pay means that it is no longer considered acceptable. The new LTI awards exceed guidelines, are transaction-based and are overly dependent on the discretion of the remuneration committee. Furthermore, there will be no long-term incentive pay in 2019. Actual incentive pay for the year was excessive. We recommend shareholders oppose.EGM Items 1 - 4: Return of Value to Shareholders The Company is seeking to return value to shareholders. ...

Whitbread – 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...

Expert Corporate Governance Service (ECGS)

proxy report 27/06/2018

Demerger of Costa Following pressure from activist shareholders, the Company has announced that it is planning to spin off its Costa Coffee chain form the rest of the business. The Company

Jérôme VINERIER

Short term view - WHITBREAD PLC : Prices are still making progress

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at 4,802.00 p. Breaking below the support at 3,882.00 p would invalidate the trend.

Jérôme VINERIER

Analyse court terme - WHITBREAD PLC : Les cours progressent encore.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 4 802,00 p. La rupture du support à 3 882,00 p invaliderait cette tendance.

Jérôme VINERIER

Short term view - WHITBREAD PLC : The recent fall is getting more vigorous.

The trend is bullish. The recent fall is getting more vigorous. The next support is at 4,284.00 p. A break below 3,882.00 p would challenge the trend.

Jérôme VINERIER

Analyse court terme - WHITBREAD PLC : La baisse récente gagne en vigueur.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 4 284,00 p. La tendance serait remise en cause par la rupture de 3 882,00 p.

Valérie GASTALDY

Medium term view - WHITBREAD PLC : Prices are still making progress.

The background trend is clearly bullish. Prices are still making progress. The following targets are at 4,595.00 p and 5,049.00 p. The trend would be invalidated below the support at 3,124.00 p.

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