Planisware to start trading on 18th April with a EUR1.1bn valuation

On Tuesday, Planisware (not covered), a French B2B software publisher, announced it would float its shares on the Paris stock exchange on 18th April at a valuation of EUR1.1bn. As a reminder, the listing comes after the IPO project was called off in October 2023 due to unfavourable market condition

Digitize for Investment And Technology: 1 director

A director at Digitize for Investment And Technology sold 2,093,353 shares at 0.000EGP and the significance rating of the trade was 66/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over t...

Misr Hotels (Hilton): 1 director

A director at Misr Hotels (Hilton) bought 12,396 shares at 0.000EGP and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years c...

Heads-up for report 23 April

ABGSC Shipping Daily 18 April

Tankers and LPG down, dry bulk up. Shipping peer group trades at P/NAV 0.81x. Seaborne crude export up 2% m-o-m in March, 3% higher y-o-y. Container idling declining again, now at only 0.7% of the fleet.

Nokia : Slightly better results, improving orders

>Q1 2024 results above expectations thanks to Nokia technologies and a better mix in Mobile, improving orders in Networks - Revenues totalled € 4.67bn, down 19% y-o-y at cc below the consensus at € 4.96m. Non-IFRS gross margin was 48.6%, above the consensus at 43.7% thanks to a strong contribution from Nokia Technologies which benefited from significant catch-up net sales in addition to a significant improvements in Mobile Networks partly due to the regional and produ...

NSI NV : Q1 2024 trading update: Lower than our estimates, outlook rei...

>Figures stood lower than our estimates, outlook reiterated - This morning, NSI reported its Q1 2024 trading update reporting lower than our estimates. net rental income and EPRA earnings lower than our estimates and YoY due to higher operating costs, taxes and interest expenses. On today’s trading update, we highlight the following:Remains best-in class balance sheet with a reported LTV of 30.9% in Q1 and no debt maturities until 2026. Resilient gross renta...

SECURING ENERGY INDEPENDENCE: OMV PETROM'S OFFSHORE DEVELOPMENT AND RE...

We re-initiate coverage of OMV Petrom with Buy recommendation. We set our 12m ex-divTP at RON 0.819, implying a 31% upside potential including an estimated dividend of RON 0.07consisting of RON 0.0413 regular dividend that has been already announced and RON 0.0287special dividend that is our estimate. The stock is currently trading at 4.3x blended forwardEV/EBIT, 7.45x blended forward P/E and 1.1x P/BV (as estimated by Bloomberg).  

Good mix as Q1 comes in 1% above cons

Carmila : Q1 2024 operational performance positive notably with excell...

>Leading indicators confirm the attractiveness of Carmilla’s shopping centres - Carmila's Q1 2024 operational performance (i.e. net rental income of € 87.4m vs € 88.8m est., +1.1% y-o-y; +4.0% at constant scope) reflects the continued positive trend of the group’s local shopping centres:Retailer sales up 2% y-o-y in Q1 2024. This performance illustrates the resilience of the retailers’ activity with an increase in sales that is close to inflation (sales +1.7% in ...

LBG Media (LBG LN) - Strong momentum into FY24

Resilient growth in core markets: Revenue of £67.5m is +7.5% YOY (FY22: £62.8m) and +0.7% vs. Zeus estimate of £67.0m, with growth across Direct and Indirect divisions benefitting from increased activity with new and existing clients.

Earnings miss, but some positive comments

Marie Brizard Wine & Spirits : Des résultats 2023 meilleurs qu’attendu...

>UN EBITDA en hausse de 12.2% à 13.1 M€ vs 12.4 M€e et un RNpg positif de 8.7 M€ vs 7.2 M€e - MBWS a publié hier soir des résultats au-dessus de nos attentes. L’EBITDA ressort en hausse de 12.2% à 13.1 M€ contre 12.4 M€ attendus pour un CA déjà publié de 194.2 M€ (+7.1% en publié et 7.2% en organique) La marge brute reste quasi stable à 70.7M€, impliquant une baisse du taux de marge brut de 270 pb à 36.4%. L’inflation des matières premières et du prix de l’énergie ai...

ASML : Weak order intake in Q1 (TSMC absent again, not set to be on th...

>Subdued Q1 24 orders, but this does not change the structural story, and we maintain our Outperform rating and € 1,100 target price - ASML yesterday reported better than expected Q1 24 results (EPS better, despite sales falling short), but importantly posted orders of € 3.6bn, well short of the consensus, due to TMSC’s virtual absence from the backlog this quarter (again). But the group confirmed 2024 is set to be a stable year, with H2 showing growth, but 2025 shou...

I3 Energy (I3E LN) - Canada royalty assets sale

I3 has announced the sale of the majority of its royalty interests in Canada, for US$24.8m cash. This allows the company to fully repay amounts drawn on its debt facility and create a working capital surplus, giving I3 significant additional funding flexibility going forward.

MLP Care

MLP Care has effectively restructured its hospital portfolio over the past four years and implemented cost optimization measures, resulting in a 10% EBITDA CAGR in USD terms from 2019 to 2023. As private health insurance and foreign medical tourism revenues continued to recover, the proportion of revenue exposed to the social security system decreased to 14% by 2023. Concurrently, net debt decreased from USD348m in 2019 to USD110m in 2023, with 70% attributed to lease liabilities. Anticipating a...

Egyptian Real Estate Group: 1 director

A director at Egyptian Real Estate Group bought 1,541,252 shares at 0.000EGP and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last tw...

Rowad Tourism (Al Rowad): 1 director

A director at Rowad Tourism (Al Rowad) sold 33,245 shares at 0.000EGP and the significance rating of the trade was 51/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years...

Palm Hills Developments Company: 1 director

A director at Palm Hills Developments Company bought 1,500,000 shares at 0.000EGP and the significance rating of the trade was 61/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the la...