Hi,

today I'd like to introduce you to Alzchem Group AG.

A brief introduction:

$ACT (+3,2%) Headquartered in Trostberg (Bavaria), it’s one of the more low-key players in the German chemical industry. It’s a company that has undergone a clear strategic realignment in recent years.

Alzchem has its roots in traditional chemicals but has increasingly shifted its focus to higher-value specialty products. It is precisely this transformation that makes the company exciting from an investor’s perspective.

The business model is broadly diversified. Alzchem supplies various end markets, ranging from food and pharmaceuticals to industrial applications and highly specialized niches. In some areas, the company is among the few suppliers
OUTSIDE OF CHINA—a factor that should not be underestimated in times of fragile supply chains.

Financial Perspective:

From a financial perspective, it is notable that the company’s revenue growth is rather moderate, while earnings and cash flow are growing at a faster pace. This points to an improved product mix and greater efficiency. In the chemical industry in particular, this is often more important than pure volume growth.

Earnings per share are rising significantly faster than revenue—an indication that Alzchem is growing through margins rather than volume.

Future:

Alzchem faces the challenge of consistently continuing on its current path. The increasing focus on higher-margin specialty products, the improved cost structure, and the recent solid cash flow performance generally provide good conditions for further profitable growth. At the same time, external factors such as the economy, energy prices, and raw material costs remain critical to future performance.

This company is more of a long-term investment with many opportunities. In addition, it pays a dividend of €2.42 per share (once a year).

Sources:

https://www.alzchem.com/de/

https://de.tradingview.com/

https://www.chartmill.com/stock/quote/ACT.DE/profile

Analyst Updates, Nov. 29

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- BOFA raises its price target for SIEMENS ENERGY from 48 EUR to 52 EUR. Neutral. $ENR (+0,36%)

- GOLDMAN raises the price target for DEUTSCHE TELEKOM from 37 EUR to 39 EUR. Buy. $DTE (-4%)

- BERENBERG raises the price target for PFIZER from 27 USD to 29 USD. Hold. $PFE (-0,37%)

- JPMORGAN raises the price target for JUST EAT TAKEAWAY from 14.15 GBP to 16.02 GBP. Overweight. $TKWY

- WARBURG RESEARCH raises the price target for RATIONAL from 800 EUR to 810 EUR. Hold. $RAA (-1,66%)

- BOFA upgrades SCHNEIDER ELECTRIC from Underperform to Neutral and raises the price target from 175 EUR to 255 EUR. $SU (+0,51%)

- BOFA raises the price target for NORDEX from 17.90 EUR to 19.30 EUR. Buy. $NDX1 (-2,06%)

- BERENBERG raises the price target for ZALANDO from 29.70 EUR to 38 EUR. Buy. $ZAL (-1,31%)

- WARBURG RESEARCH upgrades WACKER NEUSON from Hold to Buy. Price target: 17 EUR. $WAC (-4,03%)

- WARBURG RESEARCH raises the price target for ALZCHEM from 75 EUR to 77.50 EUR. Buy. $ACT (+3,2%)

- ODDO BHF upgrades NORMA GROUP from Neutral to Outperform. Price target: 18.10 EUR. $NOEJ (+1,53%)

- BOFA raises the price target for KNORR-BREMSE from 68 EUR to 70 EUR. Underperform. $KBX (+0,28%)

- BOFA upgrades ABB to Buy. $ABBNY (+1,31%)

- BOFA upgrades KION from Neutral to Buy and raises the price target from 39.50 EUR to 48.50 EUR. $KGX (-2,01%)

- BOFA upgrades JUNGHEINRICH from “Underperform” to “Neutral” and raises the price target from 24 EUR to 26 EUR. $JUN3 (-1,19%)

- BERENBERG raises the price target for GLOBAL FASHION GROUP from 0.23 EUR to 0.27 EUR. Hold. $GFG (-2,26%)

- HSBC raises the price target for DEUTSCHE BÖRSE from 230 EUR to 236 EUR. Buy. $DB1 (-0,5%)

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- KEPLER CHEUVREUX lowers the price target for HUGO BOSS from 59 EUR to 41 EUR. Buy. $BOSS (+0,17%)

- BOFA downgrades GENERALI from Neutral to Underperform and raises the price target from 26 EUR to 27 EUR. $G (-1,95%)

- DEUTSCHE BANK RESEARCH lowers the price target for L'OREAL from EUR 335 to EUR 280. Sell. $OR (-0,03%)

- BOFA lowers the price target for BAE SYSTEMS from 13.75 GBP to 12.40 GBP. Underperform. $BA. (-0,02%)

- BERENBERG lowers the price target for ALLGEIER from 22 EUR to 19 EUR. Buy. $0RQZ

Analyst Updates, Nov. 19

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- JEFFERIES raises the price target for NETFLIX from $800 to $1,000. Buy. $NFLX (-4,54%)

- DEUTSCHE BANK RESEARCH raises its price target for SIEMENS from 200 EUR to 210 EUR. Buy. $SIE (-0,71%)

- DZ BANK raises its price target for WALT DISNEY from $115 to $130. Buy. $DIS (-2,7%)

- KEPLER CHEUVREUX raises its price target for ALZCHEM from 69 EUR to 73 EUR. Buy. $ACT (+3,2%)

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- BOFA downgrades SIEMENS from Buy to Neutral and raises the price target from 196 EUR to 200 EUR. $SIE (-0,71%)

- BERENBERG lowers the price target for BAYER from 28 EUR to 22 EUR. Hold. $BAYN (-2,14%)

- BERENBERG lowers the price target for SMA SOLAR from 21 EUR to 14 EUR. Hold. $S92 (+1,25%)

- DZ BANK downgrades SHOPIFY from Hold to Sell and raises the price target from 68 USD to 91 USD. $SHOP (-0,33%)

- STIFEL lowers the price target for BECHTLE from 50 EUR to 45 EUR. Buy. $BC8 (+0,51%)

- WARBURG RESEARCH lowers the price target for JUNGHEINRICH from 49 EUR to 47 EUR. Buy. $JUN3 (-1,19%)

- HAUCK AUFHÄUSER IB lowers the price target for KNAUS TABBERT from 16 EUR to 8 EUR. Sell. $KTA (-3,93%)

- DEUTSCHE BANK RESEARCH lowers the price target for JOST WERKE from 70 EUR to 60 EUR. Buy. $JST (-2,5%)

- GOLDMAN lowers the price target for TEAMVIEWER from 18 EUR to 17 EUR. Buy. $TMV (-1,74%)

Earnings Summary, Nov. 7

$MUV2 (-0,51%)
| Munich Re Q3 24 Earnings

EPS: 7.02 (est. 6.67)

Forecasts FY insurance revenue of approximately 61B, compared to 59B

Forecasts FY profit above 5B, compared to 5B

$RHM (-0,24%) | Rheinmetall AG Q3 24 Earnings

Sales: 2.45B (est. 2.42B)

Still expects FY sales of about 10B (est. 9.99B)

Expects FY operating margin at the upper end of guidance

Nissan Motor Q2 2024 Earnings $7201 (-1,92%)

Q2 Operating Income 31.91B Yen (est. 65.25B Yen)

Q2 Net Loss 9.34B Yen (est. Profit 49.07B Yen)

Expects FY Operating Income of 150.00B Yen, Previously Forecast 500.00B Yen

To Cut 9,000 Jobs Globally

To Reduce Global Production Capacity By 20%

To Sell Back Up To 10.02% Of Mitsubishi Motors Shares

Air France KLM Q3 2024 Earnings $AF

EBITDA: 1.90B EU (est. 1.9B EU)

Revenue: 8.98B EU (est. 8.88B EU)

Net Income: 780M EU (est. 874.3M EU)

Forecasts FY Capex at 3B EU, Saw Below 3B EU

$TEF (-3,58%) | Telefónica Q3 24 Earnings

Revenue: EU10.02B (est. EU10B)

Adj. EBITDA: €3.26B (est. €3.26B)

Net Income: €10M (est. €357M)

To Book €314 Million Non-Cash Impairment for Peru

ArcelorMittal Q3 24 Earnings: $MT (-3,6%)

- Sales $15.20B (est. $15.23B)

- EBITDA $1.58B (est. $1.47B)

- Still Expects FY CAPEX of $4.5B to $5.0B

- Market Conditions Are ‘Unsustainable’

- Positive on Medium- and Long-Term Outlook

Daimler Truck Holdings Q3 2024 Earnings: $DTG (-1,37%)

- Revenue: €13.14B (est. €12.98B)

- Adjusted EBIT: €1.19B (est. €1.13B)

- Still Expects FY Revenue of €53B to €55B (est. €53.45B)

Adyen disappoints with lower-than-expected revenue growth and loses 13% of its value on the stock market. $ADYEN (-3,27%)

Lanxessshares rise 4.4% to 26.80 euros following a positive quarterly report, after having previously fallen 13%. The operating margin exceeds expectations, despite weak prices. $LXS (-1,97%)

National Grid increases adjusted operating profit by 14% to 2 billion pounds in the first half of the fiscal year and expects growth of around 10% for the full year. Higher fees in New York and higher revenues in the U.K. are driving growth. $NG. (-1,11%)

AMS-Osram increased profitability in the third quarter despite a decline in revenue, but expects subdued business performance for the fourth quarter and early 2025. To ensure profitability, the company plans further cost cuts of 225 million euros by the end of 2026. $AMS

Süss Microtec is more optimistic following a strong third quarter and now expects to achieve its annual targets in the upper half of the forecast range. Revenue is expected to total 380 to 410 million euros, with an EBIT margin of 14 to 16 percent. $SMHN (+1,29%)

The investment company Mutares slipped into the red operationally in the third quarter with an adjusted EBITDA loss of 16.5 million euros. Revenue, however, rose by 14% to 3.9 billion euros. $MUX (-0,96%)

Delivery Hero expects free cash flow of 50 to 100 million euros for 2024 and anticipates GMV growth at the upper end of the forecast range of 7 to 9 percent. However, the group expects adjusted EBITDA to be only at the lower end of the range of 725 to 775 million euros. $DHE

Deutz reported an 80% drop in profit to 7.2 million euros in the third quarter and slipped into the red with a net loss of 2 million euros. Revenue fell by 14.9% to 430.4 million euros due to sluggish demand. $DEZ (+0,62%)

Compugroup Medical reported a

12% decline in EBITDA to 54.9 million euros in the third quarter, but slightly exceeded

analysts’ expectations. Revenue fell by 1% to 283.4 million

euros, and the company confirmed its revised forecast for 2024. $COP (-0,54%)

Alzchem reports a jump in profits for the first nine months, with

EBITDA rising 36% to 76.8 million euros, and increases its

EBITDA margin to 18.5%. The group is sticking to its profit target for 2024

but, due to the decision to discontinue low-margin businesses,

is aiming for the lower end of the revenue forecast. $ACT (+3,2%)

Nordex has raised its forecast for the 2024 EBITDA margin and

now expects it to be closer to the upper end of the range of three to four

percent. In the first nine months, the company reported

a 14 percent increase in revenue to 5.1 billion euros and an

improved EBITDA margin of 3.7 percent. $NDX1 (-2,06%)

Nemetschek reported a 15.1% increase in revenue to 253 million euros in the third quarter thanks to the

GoCanvas acquisition,

but earnings remained slightly below expectations. The

operating costs associated with the acquisition are weighing on profits, resulting in an

EBITDA increase of 6.7%. $NEM (-0,9%)

Rational increased its earnings before interest and

taxes by 18% to just under 78 million euros in the third quarter, exceeding

analysts’ expectations, while revenue grew by 8% to 294 million

euros. The company confirmed its full-year forecast. $RAA (-1,66%)