CABASSE GROUP - BUY | EUR11(+97%) Solid but not immune to supply-chain issues Q3 revenue down 11%, due to comparison and supply-chain issues But 2021 should be a solid year overall thanks to the innovation policy While top line growth is likely to accelerate in the next couple of years Buy maintained, on the back of good prospects for profitability
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....
CABASSE GROUP (Ex-AWOX) | BUY | EUR14 Enjoying the dynamics of Smart Home Gross margin up 140bps, thanks to a favourable sales mix Leading to positive EBITDA and net profit in 2020 Promising outlook, with new products to expect Positive rating reiterated
CABASSE GROUP (EX-AWOX) - | EUR14(+169%) Riding the wave of the smart home Solid organic in Q4 – much better than our expectation Connected and new products are supporting growth The first fruit of the group strategy Positive comments on outlook; Buy reiterated.
CABASSE GROUP (AWOX) - BUY | EUR14 vs. EUR11.4 (+294%) Smart innovation to deal with difficult times Improvement of profitability in H1 despite the pandemic Gradual ramp up of the group’s innovation-based model Portfolio rotation : +EUR2.6 on our target price This reenforces our positive stance on the share price
AWOX | BUY | EUR2.2 vs. EUR1.9 Another step in the right direction Decent top-line performance in Q2 Estimates slightly adjusted with a positive EUR0.30 impact on our FV Positive impact expected from AwoX Lighting divestment BUY rating reiterated
AWOX - BUY | EUR2(+125%) A new name, a new number of shares, a new listing place: all sounds good to us. Capitalize on the Cabasse brand Tighten the costs 4 to 1 reverse stock split The management doesn’t rest on its laurels
Although the 2014 IPO was a success, the share price performance has been rather disappointing ever since, with various unfortunate consequences: the stock has vanished from investor radar screens and management has decided to favour dilution rather than debt for acquisitions, with a capital increase obviously excluded given the low share price. In addition, we suspect the market has been surprised by top-line volatility and disappointed by the delay in reaching critical mass of EUR30m in revenu...
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