NX Filtration Lowering revenue guidance again

This morning NXFIL warned the markets its FY24 revenue guidance has been lowered to €10.5-€11.5m while previous guidance called for revenues in excess of €16m. For 2025 the company now calls for revenue growth of 50% to 70% based on its commercial pipeline. Applying 60% growth on the midpoint of the lowered FY24 guidance yields 17.6m revenues for 2025 well below yesterdays Refinitiv consensus revenues of €37.3m and KBC forecasts of €28.6m for 2025. We reiterate reduce rating and € 3.3 target price.

Morning Notes : COFB BB, ELI BB, MAAT FP, NXFIL NA

: COFB BB, ELI BB, MAAT FP, NXFIL NA

France: it was a very bad year

From beyond the grave, Frank Sinatra's voice could sing about the vicissitudes of France to the tune of one of his most famous hits but changing just one word in the chorus: It was a very bad year. As fiscal uncertainty and political instability drag on, with little hope of a lasting resolution in the near term, the real economy is weakening not all at once, but gradually. Investment spending is falling, private sector employment has stagnated since the spring and hiring prospects are deteriorating. There is no traction to be expected from external demand. In short, France is showing all the s...

Grandpa Coal strikes back

Papy Charbon fait de la résistance