Cooperation agreement with the US Department of Defense
Crossject announced yesterday it had signed a Cooperative Research and Development Agreement (CRADA) with the US Department of Defense. This cooperation agreement consists, in our understanding, in developing Zeneo Midazolam…
H1: volatile crude prices impact results
While the renewables division pursues its development, the volatility in the oil markets has affected the oil & gas activities. H1 sales increased by 3% year on year, with management…
Initiation of coverage
Swissquote Group Holding is Switzerland’s leading online bank and one of the most renowned banks there. It has also managed to develop at the international level through either partnerships or…
P&L disappoints but cash flow generation is intact
P&L figures disappointed the market. However, cash is king and investors should instead focus on FCF, which was maintained at a good level. Management maintained its guidance for FY 19,…
Remarkable operational performance as group EBITDA turns positive
A slew of good news accompanies this release. The operational improvements at the Sines plant, and a surge in volumes vs. an exceptionally low base in H1 18, resulted in…
Organic growth recovery and a brighter outlook
A return to organic growth in the second quarter and the opening of a sophisticated production line in its Protective Films business has set the stage for a recovery in…
Software continues to drive up the top-line
H1 resulted in another relapse in profitability, mainly related to the current transition phase. We actually believe that it is a matter of time before investments bear fruit at the…
Europlasma’s restart
On 1 August, the French commercial court formally agreed on the refinancing plans to help Europlasma continue as is, albeit with new governance and massive dilution. We merely allow for…
Value in white
The core of Cementir business model is to combine the higher growth and margin potential of white cement, a niche market of some 20mt of production, with grey cement, aggregates,…
Technical Substrates sprouting through acquired growth
Staying loyal to its investment strategy of targeting niche markets, Chargeurs props up its Technical Substrates business through three minor, but strategic, acquisitions focused on museum services. This brings the…