Q1 21: strong growth in Q1 and major contract win will stimulate FY21
Even with the pandemic affecting the company, as 55% of the revenues comes outside France, the company showed solid growth in both built-in drones and third-party drones. The margin has…
FY20: expanding services into wind
FY20 comes with an adjusted net loss of €2.0m, against our estimates of €-2.2m, on additional savings. The activity seems to be rebounding in oil & gas, with the Q1…
Delta Drone acquires Weesure and becomes world leader in drone security services
Delta Drone has come to an agreement to acquire the security company Weesure to use drones the industry. This is in line with its strategy of proposing a drone as…
FY20 unsuprising; waiting for more
Crossject released an expected set of FY20 results The industrialisation process of Zeneo is on track The group’s financing for FY21 is secured We will fine-tune our model to account…
All on the 2024 guidance
Following FY2020 and the communication of a new guidance for both 2021 and 2024, we have (sharply) adjusted our EPS. 2020 was supposed to be an exceptionnal year for Swissquote…
Bullish (but reachable) targets
Swissquote released its FY2020 numbers. The key numbers were, however, already known (preliminary release on 14 January 2021). The key takeaways were related to the short and mid-term guidances. These…
Opinion change
Following the group’s full FY20 results, we have updated our model to incorporate the better than expected results. While FY20 EBIT was in-line with our expectations, the EPS was up…
FY20 results – a Turkish Delight
Cementir Holding has published its detailed FY20 results. Denmark observed a significant margin improvement due to a favourable price-cost mix, and the effects of investments in sustainability and digitalisation. Turkey…
CHS leads FY20 record result as Chargeurs embarks on new strategic plan
In a display of astute and agile management to face the difficult market context brought about by the pandemic, Chargeurs closed a successful FY20 with record profitability. This was driven…
Green bond issued, contract in oil & gas
While the issuance of the green bond confirms the appetite for renewables by the market, the front-end engineering & design contract awarded in oil & gas is re-assuring. In the…
FY 20: performance beyond full-year guidance
Cementir Holding has published better than expected preliminary FY20 results with revenue 4% and EBITDA 13% above our expectations. The positive surprise is mainly from the strong performance in the…
FY20 ends on a high note as Protective Films bounces back
While the FY revenues were clearly driven by the success of Chargeurs’ venture into personal protective equipment under the Healthcare Solutions banner, the Q4 figures held a welcome surprise as…
Capital exchange with Aquiline Drones
Drone Volt will finalise the partnership with Aquiline Drones through a swap of c. 10% of their respective share bases. This second operation will effectively welcome Aquiline Drones into the…
A double bond issue
Crossject announced it had issued two bonds worth €5.24m each including a convertible one. Both bonds have been subscribed by the same investors as in FY19, including the main shareholder,…
All focus shifts to the battery promise
Battery-related technological advancements and, hence, funding commitments, and favourable market sentiment for EVs and clean energy result in an upgrade for the battery division valuation. While delayed initiation for other…
Results in line with 9m19 but cautious guidance for FY20
Just like other cement players, Cementir benefited from higher cement volume sales (+11%) despite the pandemic, bringing the 9m sales and EBITDA almost to 9m FY19’s levels. Revenue and EBITDA…
Another partnership to keep the momentum up
Dolfines has signed a Memorandum of Understanding with 8.2 France to develop an integrated offer in offshore wind. This is positive news for Dolfines. 8.2 France is a company that…
Clearing all waivers ahead of structural partnership with Aquiline Drones
Drone Volt has announced the launch of a capital increase with preferential subscription rights for an amount of c.€3.5m, which may be increased to €4.1m in the event that the…
Healthcare-led Q3 lifts full-year outlook
After a blockbuster Q2 led by the newly-added Healthcare division, Chargeurs’ Q3 results were once again bolstered by the strong sales performance in the health-related activities, this time accompanied by…
In a surprise move, FIPP has deprived FPN shareholders of control over PAMIER SARL
FIPP has taken full control of FPN’s only asset, depriving FPN’s shareholders of the recovery potential linked to building refurbishment or a full redevelopment. This may trigger a long and…
H1: a semester to forget in oil activities
Turnover: €1.5m (-50% yoy) EBITDA: €-1.1m (vs €-0.3m in H1 19) Net income: €-1.3m (vs €-0.5m in H1 19) Net debt: €0.4m Treasury: €0.7m In renewables, nothing new since the…
Beneficiary of battery R&D progress + new funding commitment
Given the delayed start (due to COVID-19) at the respective mining and smelting assets, our 2020 earnings estimates are reset lower. However, as the overall business plans remain unchanged, our…
Strong rebound in Q3, further improvement expected in Q4
Drone Volt has released its Q3 20 figures which showed a strong rebound in activity during this quarter, fuelled by drone deliveries. The third quarter was rich in terms of…
Concretisation of the contract with Aquiline Drones
Drone Volt has announced the signing of the contract with Aquiline Drone for the licensing of Hercules 2 and Altura Zenith along with its camera Pensar in the USA. We…