HALISTER: Eni 3Q Adj. Net Loss Deeper vs Ests.; Sees 2016 Output Flat Y/y

Eni 3Q Adj. Net Loss Deeper vs Ests.; Sees 2016 Output Flat Y/y

(Bloomberg) -- 3Q adj. net loss EU484m vs est. for loss EU72.7m; adj. operating income EU258m vs est. EU278.6m.
  • 3Q total production 1.71mboe/d vs est. 172mboe/d
  • Sees 2016 production broadly in line with 2015
  • Sees ~20% spending cut for FY 2016
  • Says production plateau at Goliat field in Barents Sea stabilized
    • Kashagan field currently producing 100kboe/d; initial plateau to be at 180kboe/d with output from field rising to 370kboe/d by end-2017
    • Has restarted Val D’Agri production
  • Call, webcast 10:30am U.K.; link here
  • NOTE: See Eni 3Q preview here
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
ENI IM (Eni SpA)

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UUID: 7947283

HALISTER: Sanofi Lifts FY16 View, Launches Buyback as 3Q Beats Estimates

Sanofi Lifts FY16 View, Launches Buyback as 3Q Beats Estimates

(Bloomberg) -- Sanofi now expects FY16 Business EPS to grow between 3%-5% at constant FX vs broadly stable previously, barring unforeseen major adverse events.
  • Starting a EU3.5b share repurchase program to be completed by end of 2017
  • Co. to divest EU generics business within 12-24 months
  • Cost savings now to be at least EU1.5b by 2018
  • 3Q Global Business Unit Net Sales (at constant FX):
    • Genzyme: EU1.27b, up 17%
    • Diabetes and CV: EU1.59b, down 2.5%
    • General Medicines and Emerging Markets: EU4.37b, down 2.4%
    • Vaccines: EU1.8b, up 14%
    • Merial: EU624m, up 4%
  • 3Q Net sales (aggregate): EU9.65b vs est. EU9.58b
  • 3Q Business EPS: EU1.79 vs est. EU1.55
  • 3Q Business net income: EU2.3b vs est. EU1.99b
  • 3Q worldwide drug sales (Total Franchises):
    • Lantus: EU1.39b vs est. EU1.41b
    • Plavix: EU401m vs est. EU392m
    • Lovenox: EU404m vs est. EU416.9m
    • Fabrazyme: EU176m vs est. EU169.4m
    • Cerezyme: EU183m vs est. EU200.2m
    • Toujeo: EU167m vs est. EU164.1m
    • Aubagio: EU334m vs est. EU332.7m
    • Lemtrada: EU112m vs est. EU117.7m
    • Aprovel: EU174m vs est. EU152.7m
  • NOTE: Yesterday, PREVIEW SANOFI 3Q: Limited Sales Growth, Forecast Likely Kept
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
SAN FP (Sanofi)

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UUID: 7947283

HALISTER1: INDIA RATINGS: Magnifico Minerals Cut, Tanu Motors Raised

INDIA RATINGS: Magnifico Minerals Cut, Tanu Motors Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
  • To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery
DOWNGRADES
  • IREO
    • Term loans cut to BBB- from BBB at ICRA
    • Cites significant slowdown in sales velocity
  • Magnifico Minerals
    • Long-term bank facilities cut to BBB from A- at Crisil
    • Cites significant, sustained pressure on the group’s profitability
  • Pushpak Bullions
    • LT fund-based facilities cut to D from B+ at ICRA
    • Cites ongoing delays in debt servicing
UPGRADES
  • Saveera Hospital
    • LT bank facilities raised to BB from BB- at CARE
    • Cites project completion
  • Tanu Motors
    • LT bank facilities raised to BB- from B at Crisil
    • Cites increasing accrual, funding support from founders
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0989820D IN (Magnifico Minerals Pvt Ltd)
0689848D IN (Pushpak Bullions Pvt Ltd)

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UUID: 7947283