>Positive results from the Insight trial - Valbiotis announced after the market close yesterday positive results for TOTUM-854 in the control of mild hypertension. The primary endpoint of the trial was achieved, with a significant difference vs placebo in lowering systolic blood pressure (SBP) in individuals with mild untreated hypertension (p
>Résultats positifs de l’essai Insight - Valbiotis annonçait hier après marché les résultats positifs de TOTUM-854 dans le control de l’hypertension artérielle légère. Le critère principal de l’étude est atteint, avec une différence significative vs placebo sur la diminution de la pression artérielle systolique (PAS) chez des individus présentant une hypertension légère non traitée (p
Burckhardt Compression is a leading global supplier of compression solutions with a unique product offering (full range of reciprocating compressor technologies and services). It targets profitable growth with a 2022-2027e sales CAGR of 7.7% and a 2022-2027e EBIT CAGR of 12.1%. These prospects seem adequately discounted at our TP of CHF 612 reflecting historical and peer multiples. We initiate the coverage with a Neutral rating. - ...
>Full-year results publication in line (year to end-June) - Based on full-year sales (already published) of € 24.7m (cf. our first take of 26 July 2024) down 17.6%, HRS has published full-year results in line with our forecasts. The group therefore reported an underlying EBITDA loss of -€ 8.7m (-€ 8.4m estimated and -€ 8.3m for the consensus) vs -€ 2m a year earlier, unsurprisingly reflecting a marked deterioration vs 2023 with a more or less equivalent loss from one ...
Burckhardt Compression is a leading global supplier of compression solutions with a unique product offering (full range of reciprocating compressor technologies and services). It targets profitable growth with a 2022-2027e sales CAGR of 7.7% and a 2022-2027e EBIT CAGR of 12.1%. These prospects seem adequately discounted at our TP of CHF 612 reflecting historical and peer multiples. We initiate the coverage with a Neutral rating. - ...
>Publication des résultats annuels en ligne (clôture le 30 juin) - Sur la base d’un CA annuel déjà publié de 24.7 M€ (cf. notre commentaire du 26 juillet 2024) en repli de 17.6%, HRS publie des résultats en ligne avec nos attentes. L’EBITDA courant ressort ainsi à -8.7 M€ (-8.4 M€ estimé, -8.3m pour le css) vs -2 M€ YoY traduisant sans surprise une nette dégradation vs 2023 avec une perte quasiment équivalente d’un semestre à l’autre. Le ROC ressort pour sa part à -13...
>FY sales below expectations - HRS has published FY sales (closing on 30 June) of € 24.7m (€ 31.1m est., consensus € 31.3m) vs € 30m YoY, down 17.6%. This revenue is lower than the guidance that had been revised downwards at the beginning of the year, namely € 31m-€ 40m. This is explained by the lower completion of projects as well as the cancellation of certain orders. Station sales came in at € 21.9m vs € 26.5m (-17.5%). Note that H2 sales came in at € 11.9m (-37.7...
>CA annuel inférieur aux attentes - HRS publie un CA annuel (clôture le 30 juin) de 24.7 M€ (31.1 M€ estimé, 31.3 M€ pour le consensus) vs 30 M€ YoY en repli de 17.6%. Ce CA est inférieur aux guidances qui avaient été revues en baisse en début d’année à savoir 31/40 M€. Cela s’explique par la moindre réalisation de projets ainsi que par l’annulation de certaines commandes. Le CA station ressort ainsi à 21.9 M€ vs 26.5 M€ (-17.5%). A noter que le CA S2 ressort à 11.9 ...
The last few weeks had seen renewed interest in the sector, with stronger volumes, M&A activity and market transactions. Unfortunately, the political context in France has again undermined French biotechs. A large number of clinical results are expected in the next few months (Ose, Aelis, Genfit, Medincell, Trangsene, Abivax, etc.). If successful, these could reinvigorate the sector. In the meantime, we are taking a more decisive stance, increasing the beta of the firms in our sa...
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