Green capex should drive EPS higher
In our opinion, the 300bp EBITDA margin improvement by 2022 as well as the back-ended green capex should drive EPS higher as soon as 2020, compared to our previous assumptions….
Reassuring end of year update
Dietswell released a positive end of year update. While the environment remains positive in offshore wind, the group has also signed several significant contracts in oil & gas. It seems…
A €2.6m non-dilutive issue
Crossject has announced it has obtained a €2.6m non-dilutive financing from IdVector Science and Technology, a European investor specialising in long-term non-dilutive financing of technology. The financing takes the form…
Another robust quarterly showing
Q3 revenues are showing robustness even though some of Protective Films’ end markets (Chargeurs’ main business) remain in the slow lane. Q3 sales up 1.7% lfl confirm management’s earlier observation…
Priority to organic growth
Overall, 9m results were in line with our expectations. Cementir has decided to invest in itself rather than going for a transformative acquisition. Following this earnings release, we expect to…
The challenge remains intact
Cash payments are dropping, pushing down the terminals and authorisations divisions, while the software activity is trying to offset these, mostly helped by EasyOrder and Magellan. Top and bottom lines…
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,…