EU BASIC INDUSTRIES: Saint-Gobain (SGOFP Baa1/BBB+/NR): 2H24 Results
Feb-28 07:03
Credit neutral.
- Saint-Gobain reported revenue in line with consensus; -2% organic growth with drag from Europe confirmed.
- Adj. EBITDA beat by 3% with margins helped by asset rotation.
- We see FY FCF at €2.8bn, close to consensus. Leverage was left at 1.4x, unchanged HoH.
- FY25 EBIT margin guidance aligns with expectations. It sees stabilising markets in Europe with a gradual 2H recovery expected.
- Webcast 07.30 GMT https://www.saint-gobain.com/en/finance/financial-results.
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EURJPY TECHS: Outlook Remains Bullish
Jan-29 07:01
- RES 4: 165.43 High Nov 8
- RES 3: 164.90 High Dec 30 and a key short-term resistance
- RES 2: 164.55 High Jan 7
- RES 1: 164.08 High Jan 24
- PRICE: 162.00 @ 07:00 GMT Jan 29
- SUP 1: 160.96/159.73 Low Jan 21 / 17 and key short-term support
- SUP 2: 159.51 61.8% retracement of the Dec 3 - 30 bull cycle
- SUP 3: 158.67 Low Dec 11
- SUP 4: 158.24 76.4% retracement of the Dec 3 - 30 bull cycle
Despite the latest pullback, EURJPY continues to trade closer to last week’s highs. Resistance at 162.89, the Jan 15 high, has been breached. This undermines a recent bearish theme and highlights scope for an extension higher near term, towards key resistance at 164.90, the Dec 30 high. Key short-term support lies at 159.73, the Jan 17 low. A reversal lower and a break of this level would reinstate the recent bearish threat.
MNI: SWEDEN FLASH Q4 GDP +1.1% Y/Y
Jan-29 07:00
- MNI: SWEDEN FLASH Q4 GDP +1.1% Y/Y
MNI: GERMAN GFK FEB CONSUMER CLIMATE -22.4
Jan-29 07:00
- MNI: GERMAN GFK FEB CONSUMER CLIMATE -22.4
