New protective equipment activity to help offset Coronavirus impact
Chargeurs’ new initiative, focused on the development and production of personal protective equipment (PPE), will allow the group to leverage the expertise of its PCC Fashion Technologies division to meet…
Collaboration to bring floater on the international stage
Dolfines/Dietswell has signed a Memorandum of Understanding with CIMC Raffles. This collaboration is a positive development, and, as we have argued in the past, was a necessary step for the…
Meaningless FY19 results and product update
FY19 results meaningless as usual Some calendar delay due to the COVID-19 crisis The company on track though for first filings in FY20/21 No change to our opinion after the…
Integration of FY19 figures and COVID-19 impacted outlook
We have updated our model with the FY19 results. The company performed better than we had anticipated, especially in Turkey, where we priced in the impact of the country’s economic…
A very reassuring guidance
Swissquote released full annual results this morning. It had already disclosed its revenues and pre-tax margin in January (cf. our Latest) but these full results add some positive news to…
Positioned to take advantage of increasing power of digitalisation in order payment
Challenges remain in the payment activity, but the positioning in the software business should make Keyware an important player for the near future. FY19 key financials Group sales down by…
Name change to highlight strategic shift
While the weak environment impacts the oil & gas activities, the company maintains its strategic shift towards the renewables. The company will take the name of its current renewables division…
Staying on course with strategic roadmap after a volatile 2019
The 2019 performance was solid from a cash-generation perspective in spite of a volatile trading environment for the Protective Films division. The management’s well-placed focus in developing a diversified profit…
FY19: profits higher than our conservative projections
Cementir has published its detailed financial results which confirms our view regarding the company’s laudable cash flow management. Overall, the result is in line with our expectations, with Turkey performing…
H1 19: 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,…