Monthly LMI Update Independent Investment Research

Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked. This compares to the total dividends of 5 cents per share in FY20. The Board has confirmed that, in...

Following the departure of one analyst, we terminate the coverage with recommendation of the following issuers: Amadeus IT Group, ams, Delivery Hero, Econocom, HelloFresh, Indra Sistemas, Ingenico, Just Eat Takeaway.com, Korian, Nexi, Outokumpu, Soitec et Worldline.  - We intend to resume coverage of some or all of these companies once a new analyst has joined us. In the meantime, we will continue to monitor the newsflow of these issuers in our morning document. - Previous credit o...

Following the departure of one analyst, we terminate the coverage with recommendation of the following issuers: Amadeus IT Group, ams, Delivery Hero, Econocom, HelloFresh, Indra Sistemas, Ingenico, Just Eat Takeaway.com, Korian, Nexi, Outokumpu, Soitec et Worldline.  - We intend to resume coverage of some or all of these companies once a new analyst has joined us. In the meantime, we will continue to monitor the newsflow of these issuers in our morning document. - Previous credit o...

Fastned: H1 results, GM recovery, roll-out acceleration expected in H2

This morning, Fastned published its H1 2025 key metrics and number of operating stations. H1 sales came in at EUR54.3m (+44% YoY), implying revenue of EUR26.3m in Q2 2025 (-9% vs cons. at EUR28.9m) and pointing to an annual run-rate of at least EUR108m (vs cons. at EUR130.8m for FY25 and STFe EUR13

Avantium: financing package update

Yesterday, Avantium announced it had reached a conditional agreement with ABN AMRO, ASN, ING, Invest-NL and Rabobank to extend and amend its senior debt facility agreement, representing up to EUR125.1m as of December 2024. As such, (i) the remaining EUR14.1m debt commitment would be cancelled in ex

Valneva : Strong H1 - Key Lyme vaccine catalyst ahead in Q4

Valneva delivered a solid H1 and reaffirmed its 2025 guidance. The company’s cash position, standing at €161m, is sufficient to fund operations through 2027e, providing solid financial visibility. Looking ahead, the next key catalyst is the Phase III data readout for VLA15, Valneva’s Lyme disease v