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Banco Santander, S.A. (MA: SAN EUR3.20) ranks 2 in the Top 20 by earnings yield stocks in the IBEX 35 Index of 34 stocks.
Note: Earnings yield is the inverse of the P/E ratio.
Rank 2 by earnings yield in IBEX 35 Index. Rank 1 is highest.
Last price: EUR3.20;
FY 2021 EPS: 43.80c;
The earnings yield of 13.7% is 3.9 times the 10-year bond yield of 3.5%.
BANCO SANTANDER (SAN) Stock Dashboard [traded in Euro, EUR] End-of-Day
| Exchange | SPANISH [Madrid] | Ave Daily Volume | 39,860,849 shares |
| Currency | 1.000 EUR = 1.078 USD | 52-Week Price Range | 2.23 - 3.80 |
| Jun 09, 2023 | EUR3.20 | Sector | Banks company |
| EPS (FY2021) | 43.80c | Market Cap | EUR55 billion [US$59 billion] |
| SAN P/E | Stock 7.3; Sector 6.7 | Shares Outstanding | 17,080,711,000 |
| SAN Dividend Yield % (TTM) | Stock 3.7; Sector 6 | SAN in Indices | IBEX 35 |
| DPS (past 12 months) | 8c | PVEUR1000 (1 yr) PVUS$1000 (1 yr) | EUR1,192 US$1,197* |
*If You Invested $1,000 in Banco Santander a year ago, This is How Much You Would Have Today: $1,197. USD1000 would have bought EUR938 for 335.8 shares (@the then price of 2.79) worth EUR1,192 @3.2 today. Dividends reinvested are worth $47.
INDEX
SECTION 1 RECENT NEWS AND RESEARCH
SECTION 2 TODAY'S BEARISH SIGNALS
SECTION 3 ONGOING BEARISH PARAMETERS
SECTION 4 TODAY'S BULLISH SIGNALS
SECTION 5 ONGOING BULLISH PARAMETERS
SECTION 6 CORPORATE PROFILE AND INDEPENDENT RATINGS
APPENDIX I DATA & ARCHIVE DOWNLOAD CENTER
APPENDIX II OTHER LISTINGS AND STOCK IDENTIFIERS
GLOSSARY
SECTION 1 RECENT NEWS AND RESEARCH
Press Releases and Corporate Wire
June 01: Banco Santander Press Release: Sanofi launches 2023 global Employee Stock Purchase Plan
Sanofi launches 2023 global Employee Stock Purchase Plan
Paris, June 1 2023. Sanofi launches Action 2023, its global employee shareholder plan, open to around 86,000 employees in 56 countries. The program builds on plans carried out since 2013 and demonstrates the ongoing commitment of Sanofi and its Board of Directors to involve all employees, across all its territories, in the future development and results of the company.
Paul HudsonChief Executive Officer of Sanofi "This plan represents our desire to unite employees around a collective company performance, enabling them to feel truly invested in our growth story. Together with the Board of Directors, we believe the year over year increase in the plans participation clearly shows the commitment of our employees to the long-term success of Sanofi and our ambition to transform the practice of medicine.
Starting June 5th , the shares will be offered at a subscription price of 79,58, which is equal to a 20% discount on the average of the 20 opening prices of Sanofi shares from May 3 to May 30th, 2023. For every five shares subscribed, employees will be able to receive one free matching share (up to a maximum of four matching shares per employee). Each employee will be able to purchase up to 1,500 Sanofi shares within the legal limit of a maximum payment amount that does not exceed 25% of their gross annual salary, minus any voluntary deductions already made under employee savings schemes (Group Savings Plan and/or Group Retirement Savings Plan) during the year 2023.
In 2022, the employee share ownership plan was open to over 85,000 employees in 59 countries with a growing overall uptake rate of 38.5% (vs 37.5% in 2021). More than 32,800 Sanofi employees chose to invest in the company. Today, nearly 75,000 current or former employees of the company are shareholders of Sanofi, and hold approximately 2%1 of its capital.
Detailed conditionsAn eligibility condition of three months employment by the closing date of the offer period will apply.
May 17: Banco Santander Sanofi: Information concerning the total number of voting rights and shares April 2023
Information concerning the total number of voting rights and shares, provided pursuant to article L. 233-8 II of the Code de commerce (the French Commercial Code) and article 223-16 of the Reglement general de lAutorite des Marches Financiers (Regulation of the French stock market authority)
Sanofia French societe anonyme with a registered share capital of 2,521,494,572 Registered office : 46, avenue de la Grande Armee - 75017 Paris - FranceRegistered at the Paris Commercial and Companies Registry under number 395030844
Source: West Corporation
April 19: Banco Santander Sanofi: Information concerning the total number of voting rights and shares - March 2023
Information concerning the total number of voting rights and shares, provided pursuant to article L. 233-8 II of the Code de commerce (the French Commercial Code) and article 223-16 of the Reglement general de lAutorite des Marches Financiers (Regulation of the French stock market authority)
Sanofia French societe anonyme with a registered share capital of 2,521,494,572 Registered office : 46, avenue de la Grande Armee - 75017 Paris - FranceRegistered at the Paris Commercial and Companies Registry under number 395030844
Source: West Corporation
May 25: Banco Santander Press Release: Annual General Meeting of May 25, 2023 Frederic Oudea new Chairman of the Board of Directors
Annual General Meeting of May 25, 2023 Frederic Oudea new Chairman of the Board of Directors
Approval of the financial statements for the fiscal year 2022Distribution of a cash dividend of 3.56 per share, with payment as of June 1st, 2023Board composition: Frederic Oudea becomes Independent Director and Chairman of the Board Paris, May 25, 2023. The Combined General Shareholders Meeting of Sanofi was held on May25, 2023, under the chairmanship of Serge Weinberg.
The General Meeting approved the individual Company and consolidated financial statements for the fiscal year 2022. The General Meeting decided on the distribution of an ordinary annual dividend of 3.56 per share. The payment of the dividend will be made on June 1st, 2023.
The General Meeting also approved the appointment of Frederic Oudea as Independent Director.The Board of Directors, in its meeting held after the General Meeting, appointed Frederic Oudea as Chairman of the Board of Directors to succeed Serge Weinberg whose term of office expired at the end of the General Meeting. Serge Weinberg has been appointed as Honorary Chairman.
On the proposal of the Appointments, Governance and CSR Committee, Frederic Oudea has been appointed as the Chairman of the Strategy Committee, member of the Appointments, Governance and CSR Committee and of the Scientific Committee.
Frederic OudeaChairman of SanofiI am very pleased to join the board of Director and feel privileged to take on the role of Chairman. I would like to express Sanofis appreciation for Serge Weinbergs exceptional leadership during his thirteen years as Chairman, bringing the Company to an all-time high value and on a momentum to further transform itself on the back of leadership in immunology and inflammation. He carried his mission with upmost integrity and commitment, in the best interest of the company.
May 04: Banco Santander Sanofi: COMBINED GENERAL MEETING OF MAY 25, 2023 - AVAILABILITY OF PREPARATORY DOCUMENTS
COMBINED GENERAL MEETING OF MAY 25, 2023
AVAILABILITY OF PREPARATORY DOCUMENTS
The Companys shareholders are invited to attend the Combined General Meeting to be held on Thursday May 25, 2023 at 2:30 p.m. (CET) at the Palais des Congres Grand Amphitheatre 2, place de la Porte Maillot 75017 Paris.
The notice of meeting (avis de reunion), including the agenda and the draft resolutions as well as the terms and conditions for participating and voting in the meeting, was published on the website of the Bulletin des Annonces Legales Obligatoires BALO (www.journal-officiel.gouv.fr/balo) on April 7, 2023, bulletin n42.
The notice of meeting (avis de convocation) will be published on the website of the Bulletin des Annonces Legales Obligatoires BALO (www.journal-officiel.gouv.fr/balo) on May 5, 2023.
The preparatory documents for this meeting will be made available to the shareholders in accordance with the applicable legal and regulatory provisions.
For registered shareholders, you will receive your notice of the General Meeting directly by post or by e-mail, depending on your choice. To request additional documents, you must complete the document request form on page 71 of the notice of meeting and return it to Uptevia, Service Assemblees Generales - C.T.O. Assemblees Generales - Les Grands Moulins de Pantin 9, rue du Debarcadere - 93761 Pantin Cedex, no later than May 20, 2023.
For bearer shareholders, you should contact your financial intermediary.
In accordance with Article R. 22-10-23 of the French Commercial Code, the preparatory documents for this meeting are available on the Companys website: www.sanofi.com/en/investors/financial-results-and-events/general-meetings/AGM-2023.
We invite you to regularly consult the Annual General Meetings section of our website, which will be updated with any changes regarding the participation in the meeting.
April 27: Banco Santander Press Release: Sanofi completes acquisition of Provention Bio, Inc.
Sanofi completes acquisition of Provention Bio, Inc.
Paris, April 27 2023. Sanofi announced today the completion of its acquisition of Provention Bio, Inc. (Provention Bio). The acquisition adds TZIELD (teplizumab-mzwv), an innovative, fully owned, first-in-class therapy in type 1 diabetes to Sanofis core asset portfolio in General Medicines and further drives its strategic shift toward products with a differentiated profile.
Olivier CharmeilExecutive Vice President, General Medicines, Sanofi We are excited to finalize our acquisition of Provention Bio, Inc. This strategic fit for Sanofi lies at the intersection of our growth in immune-mediated diseases and disease-modifying therapies in areas of high unmet need.
On November 17, 2022 the U.S. Food and Drug Administration approved TZIELD injection to delay the onset of stage 3 type 1 diabetes in adults and pediatric patients 8 years and older who currently have stage 2 type 1 diabetes.
The tender offer for all of the outstanding shares of Provention Bio common stock expired at one minute after 11:59 P.M., Eastern Time, on Wednesday, April 26, 2023. The minimum tender condition and all of the other conditions to the offer have been satisfied and on April 27, 2023, Sanofi accepted for payment and will promptly pay for all shares validly tendered and not validly withdrawn.
Following its acceptance of the tendered shares, Sanofi completed its acquisition of Provention Bio through the merger of a wholly owned subsidiary of Sanofi with and into Provention Bio, pursuant to Section 251(h) of the General Corporation Law of the State of Delaware, with Provention Bio continuing as the surviving corporation and becoming an indirect, wholly owned subsidiary of Sanofi.
In connection with the merger, all Provention Bio shares not validly tendered in the tender offer have been converted into the right to receive the same $25.00 per share in cash, without interest thereon and net of any applicable withholding taxes, that would have been paid had such shares been validly tendered in the tender offer.
As of April 27, 2023, Provention Bio common stock will cease to be traded on the NASDAQ Global Select Stock Market.
PJT Partners acted as exclusive financial advisor to Sanofi and Weil, Gotshal & Manges LLP acted as its legal counsel.
April 26: Banco Santander Press Release: Hart-Scott-Rodino waiting period expires for Sanofis acquisition of Provention Bio, Inc.
Hart-Scott-Rodino waiting period expires for Sanofis acquisition of Provention Bio, Inc.
Paris, France April 26, 2023 Sanofi announced today that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the HSR Act), applicable to Sanofis proposed acquisition of Provention Bio, Inc. (Provention Bio, NASDAQ: PRVB) has expired.
On March 24, 2023, Sanofi commenced a cash tender offer (the Offer) to purchase all outstanding shares of common stock of Provention Bio (the Shares), for $25.00 per Share, to the seller thereof in cash, without interest and subject to any withholding taxes required by applicable law. As a result of the expiration of the waiting period under the HSR Act, the condition to the Offer relating to the expiration or termination of the waiting period under the HSR Act has been satisfied.
The consummation of the Offer remains subject to various conditions, including the tender of a number of Shares which, together with the Shares owned by Sanofi and its wholly owned subsidiaries (including Zest Acquisition Sub, Inc.), represent at least a majority of the Shares outstanding immediately prior to the expiration of the Offer and other customary conditions described in the Offer to Purchase filed by Sanofi with the U.S. Securities and Exchange Commission (the SEC) on March 24, 2023, as amended.
The Offer is scheduled to expire at one minute after 11:59 P.M., Eastern Time, on April 26, 2023. The Offer may be extended further in accordance with the merger agreement, dated March 12, 2023, by and among Sanofi, Zest Acquisition Sub, Inc. and Provention Bio, and the applicable rules and regulations of the SEC. All other terms and conditions of the Offer remain unchanged.
Innisfree M&A Incorporated is acting as information agent for the tender offer.
April 10: Banco Santander Press Release: Sanofi announces withdrawal and refiling of Premerger Notification and Report Form under the HSR Act and extension of tender offer to acquire Provention Bio, Inc.
Sanofi announces withdrawal and refiling of Premerger Notification and Report Form under the HSR Act and extension of tender offer to acquire Provention Bio, Inc.
Paris, France April 10, 2023 Sanofi announced today that it has withdrawn and refiled its Premerger Notification and Report Form under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the HSR Act), in connection with Sanofis pending acquisition of Provention Bio, Inc. As previously announced on March 24, 2023, Sanofi commenced a cash tender offer to purchase all outstanding shares of common stock of Provention Bio, Inc. (the Shares), for $25.00 per Share, to the seller thereof in cash, without interest and subject to any withholding taxes required by applicable law.
Sanofi has elected to withdraw and refile its Premerger Notification and Report Form, which was initially filed on March 24, 2023, to provide the Federal Trade Commission (the FTC) with additional time for review. Following such refiling, the waiting period under the HSR Act will expire at 11:59 P.M., Eastern Time, on April 25, 2023. The acquisition is expected to close in the second quarter of 2023.
Consummation of the tender offer remains subject to, among other conditions, the expiration or termination of the applicable waiting period under the HSR Act. As a result, Sanofi is extending the tender offer, which was previously scheduled to expire at one minute after 11:59 P.M., Eastern Time, on April 20, 2023, until one minute after 11:59 P.M., Eastern Time, on April 26, 2023. The tender offer may be extended further in accordance with the merger agreement and the applicable rules and regulations of the U.S. Securities and Exchange Commission (the SEC). All other terms and conditions of the tender offer will remain unchanged during the extended period.
Innisfree M&A Incorporated is acting as information agent for the tender offer.
May 31: Banco Santander Press Release: Positive Phase 2 data of novel investigational anti-CD40L antibody frexalimab show significantly reduced disease activity in relapsing multiple sclerosis
Positive Phase 2 data of novel investigational anti-CD40L antibody frexalimab show significantly reduced disease activity in relapsing multiple sclerosis
Frexalimab met primary endpoint with 89% reduction in new gadolinium-enhancing T1 brain lesions achieved at Week 12 in the higher-dose treatment arm, compared with placeboSanofi plans to initiate pivotal trials in multiple sclerosis in early 2024 Paris, May 31 2023. New data, being presented in a late-breaking session at the 2023 Consortium of Multiple Sclerosis Centers (CMSC) annual meeting, demonstrate that frexalimab, Sanofis novel second-generation investigational anti-CD40L antibody, with a unique mechanism of action, significantly reduced disease activity in a Phase 2 trial of patients with relapsing multiple sclerosis (MS). Following 12 weeks of therapy, the number of new gadolinium-enhancing (GdE) T1-lesions was reduced by 89% and 79% in the higher- and lower-dose treatment arms, respectively, compared with placebo, meeting the studys primary endpoint.
A substantial unmet need remains in MS for highly effective and well-tolerated treatment options that provide sustainable control of disease activity and disability progression, while minimizing risks. As the first second-generation anti-CD40L antibody to show efficacy in MS, frexalimab is thought to block the costimulatory CD40/CD40L cellular pathway necessary for adaptive (T and B cells) and innate (macrophages and dendritic cells) immune cell activation and function, without lymphocyte-depletion.
Erik Wallstrom, MD, PhD Global Head of Neurology Development, Sanofi"Building on our 20 years of research and development in multiple sclerosis, we are committed to growing our robust pipeline of MS therapies by exploring multiple treatment approaches with unique MOAs that have the potential to slow or halt disability, which remains one of the greatest unmet medical needs in multiple sclerosis today.
Gavin Giovannoni, MD, PhD, FCP, FRCP, FRCPathChair of Neurology, Blizard Institute, Barts and The London School of Medicine and Dentistry, Queen Mary University of London"Frexalimab has a unique mechanism of action, blocking the CD40/CD40L costimulatory pathway thought to regulate both adaptive and innate immune cell activation and function a pathway that is pivotal in the pathogenesis of MS.
June 08: Banco Santander Press Release: FDA Advisory Committee unanimously recommends nirsevimab as first immunization against RSV disease for all infants
FDA Advisory Committee unanimously recommends nirsevimab as first immunization against RSV disease for all infants
Nirsevimab would be the first immunization specifically designed to protect all infants through their first RSV season, if approvedAcross all clinical trials, a single dose of nirsevimab delivered high, consistent and sustained efficacy and favorable safety against RSV diseaseThe FDA has indicated it will work to expedite its review; Sanofi remains committed to delivering nirsevimab in time for the 2023-2024 RSV season Paris, June 8, 2023. The U.S. Food and Drug Administration (FDA) Antimicrobial Drugs Advisory Committee (AMDAC) voted unanimously 21 to 0 that Sanofi and AstraZenecas nirsevimab has a favorable benefit risk profile for the prevention of respiratory syncytial virus (RSV) lower respiratory tract disease (LRTD) in newborns and infants born during or entering their first RSV season. The Committee also voted 19 to 2 in support of nirsevimabs favorable benefit risk profile for children up to 24 months of age who remain vulnerable to severe RSV disease through their second RSV season.
Thomas Triomphe Executive Vice President, Vaccines, SanofiMost babies hospitalized with RSV are born at term and healthy, which is why interventions specifically designed to protect all infants are likely to result in the greatest impact. We are encouraged by the Advisory Committees positive vote based on the compelling clinical development program supporting nirsevimab and its breakthrough potential to reduce the magnitude of annual RSV burden.
Iskra ReicExecutive Vice President, Vaccines and Immune Therapies, AstraZenecaWe are delighted that the Antimicrobial Drugs Advisory Committee has unanimously recognized the favorable benefit risk profile of nirsevimab as the first preventative option against RSV for a broad infant population.
May 21: Banco Santander Press Release: Dupixent (dupilumab) late-breaking Phase 3 COPD results presented at ATS and simultaneously published in the New England Journal of Medicine
Dupixent (dupilumab) late-breaking Phase 3 COPD results presented at ATS and simultaneously published in the New England Journal of Medicine
Dupixent is the first and only investigational biologic for COPD that has demonstrated a significant reduction in moderate or severe acute exacerbations by 30% compared to placeboDupixent is the first and only investigational biologic for COPD that has significantly improved lung function at 12 and 52 weeks, with numerical improvements seen as early as 2 weeksDupixent significantly improved quality of life, with numerical improvements as early as 4 weeks after initiating treatment, and respiratory symptoms COPD is the third leading cause of death worldwide, with no new treatment approaches approved in more than a decade; trial enrolled patients with moderate-to-severe disease and evidence of type 2 inflammation (i.e., blood eosinophils 300 cells/L) Paris and Tarrytown, N.Y. May 21, 2023. Positive Phase 3 results evaluating the investigational use of Dupixent (dupilumab) compared to placebo in adults currently on maximal standard-of-care inhaled therapy (triple therapy) with uncontrolled chronic obstructive pulmonary disease (COPD) and evidence of type 2 inflammation were shared today in the 2023 American Thoracic Society (ATS) International Conference session New England Journal of Medicine and JAMA. Discussion on the Edge: Reports of Recently Published Pulmonary Research and simultaneously published in the New England Journal of Medicine (NEJM). These results will also be presented in the Breaking News: Clinical Trial Results in Pulmonary Medicine session on May 22.
Surya Bhatt, M.D., MSPHAssociate Professor at the University of Alabama at Birmingham Division of Pulmonary, Allergy, and Critical Care Medicine, and a co-principal investigator of the trial"I've seen patients with uncontrolled chronic obstructive pulmonary disease struggle for far too long with the debilitating symptoms of this progressive disease with limited, incremental improvement on current treatment options.
May 12: Banco Santander Press Release: Nirsevimab delivers 83% reduction in RSV infant hospitalizations in a real-world clinical trial setting
Nirsevimab delivers 83% reduction in RSV infant hospitalizations in a real-world clinical trial setting
The Hospitalized RSV Monoclonal Antibody Prevention (HARMONIE) study is a large, multi-country European interventional clinical trial aiming to determine the efficacy and safety of a single intramuscular dose of nirsevimab, with data collected in a real-world setting during the 2022-2023 RSV season.1 The trial recruited more than 8,000 infants and took place at nearly 250 sites across France, Germany and the United Kingdom. The data from HARMONIE were presented at the 41st Annual Meeting of the European Society for Paediatric Infectious Diseases (ESPID).
Thomas TriompheExecutive Vice President, Vaccines, Sanofi This winter saw higher rates of RSV-related infant hospitalizations than during pandemic or pre-pandemic years. The HARMONIE data demonstrate the real-world impact nirsevimab has on pediatric hospitalizations, and illustrate its importance for infants, their families and public health.
Dr. Simon DrysdaleConsultant Pediatrician in Infectious Diseases at St. Georges University Hospital NHS Foundation Trust and Co-Chief Investigator of HARMONIERSV-related chest infections lead to high numbers of infants under 12 months old being hospitalized every year. These data reinforce the potential public health benefit of nirsevimab in terms of helping to reduce the strain on hospitals caused each year by RSV.
Throughout HARMONIE, nirsevimab maintained a favorable safety profile, consistent with the pivotal trial results.
April 11: Banco Santander Press Release: Nirsevimab: Sanofi, AstraZeneca and Sobi simplify contractual agreements
Nirsevimab: Sanofi, AstraZeneca and Sobi simplify contractual agreements
Modification of existing collaboration agreement with AstraZeneca gives Sanofi full commercial control of nirsevimab and enhanced agility in the U.S.Existing collaboration agreement with AstraZeneca remains in place for nirsevimab activities ex-U.S. Paris, April 11, 2023. Sanofi has simplified its contractual arrangements relating to the development and commercialization of Beyfortus (nirsevimab) in the United States (U.S.).
Under the new and updated arrangements, Sobi will terminate its participation agreement with AstraZeneca, and Sanofi and AstraZeneca will update the Collaboration Agreement so that Sanofi has full commercial control of nirsevimab in the U.S. Sanofi has simultaneously entered into a direct royalty agreement with Sobi to share a portion of U.S. net sales from nirsevimab.
With respect to territories outside the U.S., the existing Collaboration Agreement between AstraZeneca and Sanofi continues to govern that relationship.
The new and updated contractual agreements do not impact nirsevimab registration and launch in the U.S., where all parties remain committed to making Beyfortus available for all infants in time for the 2023/24 RSV season.
April 04: Banco Santander Press Release: Two fitusiran Phase 3 studies published in The Lancet and The Lancet Haematology highlight potential to address unmet needs across all types of hemophilia
Two fitusiran Phase 3 studies published in The Lancet and The Lancet Haematology highlight potential to address unmet needs across all types of hemophilia
Both Phase 3 studies achieved their primary and secondary endpoints; fitusiran prophylaxis demonstrated significant and clinically meaningful improvements in bleed protection across all hemophilia populations, presented at ASH 2021 Paris April 4, 2023 Two studies, published in The Lancet and The Lancet Haematology, evaluating the efficacy and safety of fitusiran, an investigational siRNA therapy for the prophylactic treatment of adults and adolescents with hemophilia A or B, reinforce the potential of this investigational therapy to transform the current standard of care and address unmet needs for all types of hemophilia, regardless of inhibitor status.
Hemophilia A and B are rare congenital lifelong bleeding disorders in which the ability of a persons blood to clot is impaired, leading to excessive bleeds and spontaneous bleeds into joints that can result in joint damage and chronic pain, and significantly impact quality of life. Fitusiran has the potential to provide prophylaxis for all types of hemophilia, regardless of inhibitor status, with as few as six subcutaneous injections per year.
Dietmar Berger, M.D., Ph.D.Head of Global R&D ad interim and Chief Medical Officer at Sanofi Sanofi is committed to advancing the standard of care for all people with hemophilia through innovative science, providing consistent bleed protection while reducing treatment burden. We are entering a new era in hemophilia where, for the first time, people can choose therapies that meet their personal needs. These published data validate our science and add to a growing body of evidence supporting fitusirans potential to transform the treatment landscape.
March 30: Banco Santander Press Release: Availability of the Q1 2023 Memorandum for modelling purposes
Availability of the Q1 2023 Memorandum for modelling purposes
Paris, France March 30, 2023 - Sanofi announced today that its Q1 2023 Memorandum for modelling purposes is available on the "Investors" page of the company's website:
https://www.sanofi.com/en/investors/financial-results-and-events/financial-results/Q1-results-2023
As for each quarter, Sanofi prepared this document to assist in the financial modelling of the Group's quarterly results. This document includes a reminder on various non-comparable items and exclusivity losses as well as the foreign currency impact and share count. Sanofi's first-quarter 2023 results will be published on April 27, 2023.
March 23: Banco Santander Press Release: Dupixent demonstrates potential to become first biologic to treat COPD by showing significant reduction in exacerbations in pivotal trial
Dupixent demonstrates potential to become first biologic to treat COPD by showing significant reduction in exacerbations in pivotal trial
First and only biologic to demonstrate clinically meaningful and statistically significant reduction (30%) in exacerbations compared to placeboFirst and only biologic to show rapid and significant improvement in lung function (160 mL in FEV1) compared to placebo (77 mL in FEV1) First and only biologic to demonstrate significant improvements in quality of life and respiratory symptomsCOPD is the third leading cause of death worldwide with no new treatment approaches approved in more than a decade; trial enrolled patients with moderate to severe disease and evidence of type 2 inflammation (i.e., blood eosinophils 300 cells/L)COPD is the seventh disease in which Dupixent has shown positive pivotal results, confirming the key role of IL-4 and IL-13 in these type 2 inflammatory diseases Paris and Tarrytown, N.Y. March 23, 2023. The primary and all key secondary endpoints were met in a Phase 3 trial evaluating the investigational use of Dupixent (dupilumab) compared to placebo in adults currently on maximal standard-of-care inhaled therapy (triple therapy) with uncontrolled chronic obstructive pulmonary disease (COPD) and evidence of type 2 inflammation. Dupixent is the first and only biologic to demonstrate a clinically meaningful and highly significant reduction (30%) in moderate or severe acute exacerbations of COPD (rapid and acute worsening of respiratory symptoms), while also demonstrating significant improvements in lung function, quality of life and COPD respiratory symptoms.
Dietmar Berger, M.D., Ph.D.Head of Global R&D ad interim and Chief Medical Officer at Sanofi "Change cannot come quick enough for people living with uncontrolled COPD but, unfortunately, many investigational treatments have failed to demonstrate significant clinical outcomes leaving these vulnerable patients with limited treatment options.
March 21: Banco Santander Press Release: Dupixent (dupilumab) approved by European Commission as first and only targeted medicine for children as young as six months old with severe atopic dermatitis
Dupixent (dupilumab) approved by European Commission as first and only targeted medicine for children as young as six months old with severe atopic dermatitis
Approximately seven times as many patients aged 6 months to 5 years with severe atopic dermatitis treated with Dupixent experienced clear or almost clear skin and reduced overall disease severity compared to placeboPatients treated with Dupixent achieved rapid itch reduction as early as three weeks after start of therapy, with significant improvements at 16 weeks sustained through one yearDupixent is now a treatment option for the approximately 80,000 infants and young children living with uncontrolled severe atopic dermatitis in Europe Milestone marks third Dupixent European Commission approval in the past four months Paris and Tarrytown, N.Y. March 21, 2023. The European Commission (EC) has approved Dupixent(dupilumab) in the European Union (EU) to treat severe atopic dermatitis in children aged 6 months to 5 years old who are candidates for systemic therapy. With this approval, Dupixent is the first and only targeted medicine indicated to treat these young children in Europe and the U.S.
Korey Capozza, MPH Founder and Executive Director of Global Parents for Eczema Research (GPER)Watching an infant or young child grapple with the debilitating and wide-reaching impacts of severe atopic dermatitis is heartbreaking. Ive personally witnessed how this chronic skin disease can disrupt the lives of entire families when left uncontrolled. Intervening with effective treatments during infancy and early childhood can help manage the challenging impact this disease has on children and their families during such formative years.
Atopic dermatitis is a chronic type 2 inflammatory skin disease. Between 85% and 90% of patients first develop symptoms before 5 years of age, which can often continue through adulthood.
SECTION 2 TODAY'S BEARISH SIGNALS
2.1 Downtrend
Negative MACD:
- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 3.18 minus the 26-day EMA of 3.19 is negative, suggesting a bearish signal.
2.2 Other Bearish Signals
- Total Liabilities/EBITDA of 127.1 is more than 5, this compares unfavourably with the Joseph Piotroski benchmark of 5.
- Net profit margin has averaged 6.6% in the last 3 years. This is lower than the sector average of 14.4% and suggests a low margin of safety.
SECTION 3 ONGOING BEARISH PARAMETERS
3.1 Rank in the bottom 8% by Productivity in the Spanish market
| Description | Value | Rank |
| Return on Assets [ROA] % | 0.6 | In Bottom 8% |
| Return on Capital Employed [ROCE] % | 0.9 | In Bottom 7% |
3.2 Present Value of EUR1000 Invested in the Past 3 Months; The Worst Period with PVEUR1000 < 881
| PVEUR1,000 | 3 mo ago |
| SAN.MA | EUR880 |
| Banks company | EUR897 |
| IBEX 35 Index | EUR1,006 |
3.3 Past quarter: price fall of 13.6%
3-Month price change of -13.6% for Banco Santander underperformed the change of 0.3% in the IBEX35 Index for a relative price change of -13.8%.
| Price Change % | Quarter |
| Banco Santander | -13.6 |
| Banks company | -10.2 |
| IBEX35 Index | 0.3 |
3.4 MCap: 5-Year Decrease of EUR21 B [$23B] (28%)
In the past 5 years Market Capitalization has decreased by EUR21.1 billion (28%) from EUR75.8 billion to EUR54.7 billion. Based on a dynamic start date of 5 years ago, there have been declines in MCap in 3 out of 5 years.
| Price | MCap (EUR B) | MCap ($ B) | |
| Last | EUR3.20 | 54.7 | 58.9 |
| 1 Year ago | EUR2.79 | 49.7 | 53 |
| 2 Years ago | EUR3.16 | 56.5 | 68.2 |
| 3 Years ago | EUR1.34 | 42.5 | 48 |
| 4 Years ago | EUR2.03 | 64.4 | 72.5 |
| 5 Years ago | EUR2.27 | 75.8 | 89.4 |
3.5 Declining Volume, down 46% in 5 years
In the past five years, Average Daily Volume of Trading (ADVT) has decreased 46.0% to 39.9 million shares.
Avg. Daily Volume Traded 12 months ended Jun 09, million shares
| Year | ADVT |
| 2023 | 39.9 |
| 2022 | 36.1 |
| 2021 | 52.6 |
| 2020 | 54.2 |
| 2019 | 73.8 |
3.6 Declining share turnover, down 58% in 5 years
In the past five years, average daily share turnover has decreased 58.4% to EUR114.3 million ($123.3 million). This suggests decreased liquidity.
Past five years, 12 months ended Jun 09 (EUR million)
| Year | Average Daily Turnover |
| 2023 | 114.3 |
| 2022 | 107.1 |
| 2021 | 119.4 |
| 2020 | 157.9 |
| 2019 | 274.7 |
3.7 Satisfies 1 out of 9 criterion of Joseph Piotroski [pass mark 5]:
- Positive net income.
But does not meet the following 8 criteria of Joseph Piotroski:
- Positive operating cashflow.
- Return on Assets improvement.
- Good quality of earnings [operating cashflow exceeds net income].
- Improvement in long-term debt to total assets.
- Improvement in current ratio.
- Total shares on issue unchanged (or reduction in total shares on issue).
- Improvement in gross margin.
- Improvement in asset turnover.
SECTION 4 TODAY'S BULLISH SIGNALS
4.1 Relative Value Indicators: Undervaluation compared with Index averages and bond yield
- Earnings yield of 13.7% is more attractive compared with the Spanish average earning yield of 5.9%.
- The earnings yield of 13.7% is 3.9 times the 10-year bond yield of 3.5%.
(All figures in %)
| Earnings Yield | 13.7 |
| Spanish avg | 5.9 |
| Dividend Yield | 3.7 |
| Bond Yield | 3.5 |
Dividend Yield > Bond Yield of 3.5%:
The dividend yield of 3.68% is 1.05 times the triple-A bond yield of 3.5%. The times factor of 1.05 is above the benchmark factor of 0.67 times set by Benjamin Graham.
(All figures in %)
| Dividend Yield | 3.68 |
| Bond Yield | 3.5 |
| Spread | 0.18 |
4.2 Rank in the top 18% by Relative Valuation in the Spanish market
| Description | Value | Rank |
| P/E * P/NTA | 4.97 | In Top 8% |
| Price/Earnings | 7.3 | In Top 14% |
| Price to Book Value | 0.7 | In Top 18% |
4.3 Uptrend
Price/Moving Average Price of 1.08:
- The Price/MAP 200 for Banco Santander is 1.08. Being higher than 1 is a bullish indicator. The stock is trading above both its MAPs and the 50-day MAP of EUR3.26 is higher than the 200-day MAP of EUR2.96, a second bullish indicator.
Relative Strength (6 months) 71 percentile:
- The stock has a 6-month relative strength of 71 in the Spanish market of 129 stocks indicating it has outperformed 71% of the market.
SECTION 5 ONGOING BULLISH PARAMETERS
5.1 Rank in the top 4% by Size in the Spanish market
| Description | Value | Rank |
| Ave daily Turnover | EUR57.2 million ($61.7 million) | In Top 2% |
| Annual Revenue | EUR46.4 billion ($50 billion) | In Top 2% |
| MCap | $59 billion | In Top 4% |
5.2 Present Value of EUR1000 Invested in the Past [1 Yr, 3 Yrs]; The Best Periods with PVEUR1000 > 1,191
| PVEUR1,000 | 1 yr ago | 3 yrs ago |
| SAN.MA | EUR1,192 | EUR2,593 |
| Banks company | EUR1,095 | EUR1,401 |
| IBEX 35 Index | EUR1,069 | EUR1,201 |
5.3 The Best Periods [1 Yr, 3 Yrs] with Price Change % > 14.4
3-Year price change of 138.3% for Banco Santander outperformed the change of 17.9% in the IBEX35 Index for a relative price change of 120.4%.
| Price Change % | Year | 3 Years |
| Banco Santander | 14.5 | 138.3 |
| Banks company | 7.7 | 37.3 |
| IBEX35 Index | 5.3 | 17.9 |
5.4 Stock vs Index (Annual Percentage Change)
| December 31 | Last price in EUR | Annual Return | Return of IBEX 35 Index |
| 2022 | 2.8 | -1.2 | -5.7 |
| 2021 | 2.8 | 18.9 | 8.1 |
| 2020 | 2.4 | 19.6 | -15.5 |
| 2019 | 2.0 | -0.8 | 11.8 |
| 2018 | 2.0 | - | - |
Banco Santander has outperformed the IBEX 35 Index in 2 of the past 5
years: 2021, 2020.
5.5 Annualised Period-based Total Shareholder Returns [TSR %]: The Best Periods with TSR > 9.1%
| TSR % | 1 yr | 3 yrs | 5 yrs | 10 yrs |
| SAN.MA | 19.2 | 37 | 12.1 | 9.2 |
5.6 Improved EBIT Margins:
EBIT margin is positive and has increased from -4.7% to 31.3% in the past year.
| FY | EBIT Margins (%) |
| 2021 | 31.3 |
| 2020 | -4.7 |
| 2019 | 25.5 |
| 2018 | 29.3 |
| 2017 | 25.0 |
5.7 Increased VWAP, up 32% in 5 years
In the past five years Volume Weighted Average Price (VWAP) has increased by 32.5% to EUR2.87. Based on a dynamic start date of five years ago, there have been declines in VWAP in 3 out of 5 years.
Past five years, 12 months ended Jun 09 (EUR)
| Year | High Price | VWAP | Low Price |
| 2023 | 3.8 | 2.87 | 2.23 |
| 2022 | 3.28 | 2.88 | 2.35 |
| 2021 | 3.26 | 1.53 | 0.79 |
| 2020 | 2.18 | 1.63 | 0.93 |
| 2019 | 2.38 | 2.16 | 1.9 |
5.8 5-years average annualized earnings growth rate of 13.6%
- Revenue growth rate has shown signs of recovery in recent years. [compared with previous year, all figures in %]
| FY | Revenue Growth |
| 2021 | 5 |
| 2020 | -10 |
5.9 Satisfies one criterion of Benjamin Graham
- The P/E of 7.3 multiplied by the P/NTA of 0.7 is 5.0. Being less than the Benjamin Graham benchmark of 22.5 the stock appears undervalued.
SECTION 6 CORPORATE PROFILE AND INDEPENDENT RATINGS
6.1 Activities
Banco Santander SA. (the Bank) is a financial group that offers a range of financial products. It is Spain's largest Banks sector company by market capitalisation.
6.2 Independent Ratings and Relative Value Indicators
+ Newsweek 500:
Banco Santander, S.A. was ranked 157 by Newsweek and Corporate Knights Capital in the World's 500 Greenest Companies 2016. It had outstanding scores of 11.9% in Carbon productivity, 7.7% in Energy productivity and 5.9% in Water productivity.
+ S&P Global Market Intelligence 100:
Banco Santander, S.A. was ranked 18 in SNL's list of Top 100 Banks by Total Assets in 2016; an improvement over a year from rank 20 in 2015.
+ PwC 100:
It was ranked 72 by MCap as at March 31, 2015 by PwC in the Top 100 Global companies; a deterioration over 6 years from rank 65 as at March 31, 2009.
+ Brand Finance 500:
It was ranked 10 in the Brand Finance list of the world's 500 Valuable Banking brands by brand value in 2015; a deterioration over a year from rank 8 in 2014. Brand Finance valued the brand at US$18,700 million and ranked it Number 10 in Europe. Most of the brand valuation was for services such as Retail Banking.
6.3 Contact Details
| Website | http://www.gruposantander.com |
| Physical Address | Ciudad Grupo Santander Boadilla del Monte Madrid, 28660 Spain |
6.4 Industry & Sector [of 104 stocks]
| Classification Level | Name of Sector |
| Business Sector | Banking & Investment Services |
| Industry Group | Banking Services |
| Industry | Banks |
| Economic Sector | Financials |
APPENDIX I DATA & ARCHIVE DOWNLOAD CENTER
SAN: EXCEL TABLES ARE AVAILABLE TO EXPORT DATA:
+ PRICE VOLUME - 5-YEAR HISTORY
+ FINANCIALS - 10-YEAR HISTORY [INCLUDING FY 2021]:
+ PEER COMPARISON - STOCK IN BANKS COMPANY SECTOR AND STOCK IN INDICES
SAN: LINKS IN HTML TO FURTHER INFORMATION:
+ NEWS ARCHIVES - SAN PAST 4 YEARS IN HTML:
+ USD vs EUR EXCHANGE RATE CHARTS IN HTML
APPENDIX II OTHER LISTINGS AND STOCK IDENTIFIERS
II.1 Primary Exchange and Other Listings: Trading Currency and Volume (Excl ADR)
| Exchange | Ticker | Currency | Last | ADVT | Vol % of Total | Today's VI |
| Madrid | SAN | EUR | 3.2 | 39,860,849 | 98.5 | 0.4 |
| London | BNC | GBX | 280 | 604,622 | 0.9 | 0.3 |
| Xetra | BSD2 | EUR | 3.23 | 73,231 | 0.6 | 1.6 |
| Total | 100.00 |
1 EUR= 85.9254 GBX [Pence Sterling];
ADVT= Avg. Daily Volume of Trading; VI= Volume Index (1 is avg)
II.2 Stock Identifiers
ISIN: ES0113900J37
PermID: 8589934205
CUSIP: E19790109
RIC: SAN.MC
GLOSSARY
ADVT: Average Daily Volume of shares Traded
Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)
Current Ratio: Current Assets/Current Liabilities (times)
Dividend Yield: Dividend Per Share/Share Price (%)
EBIT Margin : Earnings Before Interest and Tax/Revenue (%)
Earnings Yield: Earnings Per Share/Share Price (%)
Income during the n years (3/2/1): Dividends received during the Period
Moving Average Price (n periods): Sum of Prices for each Period/Number of Periods
PV1000: Present value of 1000 invested 1 year/'n' years ago
Price Close/Moving Avg Price: Latest Price/Moving Average Price
Price/Earnings: Share Price/Earnings Per Share (times)
Price/NTA: Closing Share Price/Net Tangible Assets Per Share (times)
Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index
Relative Strength (6 Months): Price close today/Price close 6 months ago, then ranked by percentile within the entire market.
Return on Assets: Net Profit/Total Assets (%)
Return on Equity (Shareholders' Funds): Net Profit/Net Assets (%)
TSR: Total Shareholder Returns is expressed as an annualized rate of return for shareholders after allowing for capital appreciation and dividend
TTM: Trailing 12 Months
Volume Index (VI): Number of shares traded in the period/Average number of shares traded for the period
Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.
Disclaimer: While this document is based on information sources which are considered reliable, it has been prepared without consideration of your specific investment objectives, financial situation or needs, so you should carry out your own analysis or seek professional investment advice before an investment decision is made. The document contains unbiased, independent equities data and analysis from Jupiter International (Australia) Pty Ltd trading as BuySellSignals (AFS Licence 222756), who provide round the clock analysis on every stock, every sector, every market, every day. BuySellSignals is not a broker, and does not have executing, corporate advisory or investment banking functions. Jupiter International (Australia) Pty Ltd, its directors, employees and contractors do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate.
Data for the BuySellSignals algorithms is drawn from annual reports, company websites and similar sources of publicly available data. It should be used as a guide only.
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