Overreaction to a decent report

Tomra Systems: Q2 2025 results, recycling division still under pressur...

This morning, Tomra System reported Q2 2025 results. Q2 2025 group revenue fell 2% YoY to EUR325m: (i) Collection was down 12% to EUR169m amid a temporary sales slowdown from newly opened DRS, while (ii) Recycling held flat at EUR57m as growth in Asia partially compensated for lower revenues from w

Q2 first take: beat in Food, orders better

end of coverage

From 16th July 2025, we will no longer include Loop Industries in our coverage

Muted recycling investments may hurt orders

Benelux Morning Notes

AEGON: Always a pleasure to debate with management. Avantium: Summer Doldrums. Gimv: Itineris out

Suspension of coverage

From 2nd of June we are suspending coverage of companies below due to a reallocation of resources. Our prior estimates should no longer be used as an indicator for the company moving forward.CARBIOSLOOP IND.ZAPTEC

Loop Industries: FY24 results; first licence revenues

Yesterday, Loop Industries reported results for FY24. The company reported its first significant revenues in Q4 FY24, with sales reaching USD10.9m, largely thanks to a USD10.4m up-front royalty payment by Reed Société Générale Group. Despite the revenue boost, the company posted a net loss of USD15

Carbios: offtake agreements with L'Oréal and L'Occitane en Provence

Yesterday, Carbios announced it has signed two multi-year offtake agreements for biorecycled PET from its Longlaville plant with L’Oréal and L’Occitane en Provence, confirming market demand for high-quality enzymatically recycled PET. These contracts mark a preliminary step in Carbios’ plans to res

Avantium: participation in Michelin-led consortium

This morning, Avantium announced it has been awarded a EUR200k grant by the EU Horizon Europe programme to participate in the CERISEA consortium, led by Michelin Engineered Polymers, which aims to build and operate a 5-Hydroxymethylfurfural (5-HMF) flagship plant. This 3Kt/year industrial demo plan

CoStar Group, Inc. - Mergers & Acquisitions (M&A), Partnerships & Alli...

Summary Marketline's CoStar Group, Inc. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by CoStar Group, Inc. - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investmen...

Avantium: factoring in the reverse stock split

Yesterday, following unanimous approval of a 1:10 reverse stock split by the Board on 14th May, Avantium began trading on a post-reverse stock split basis. As a result of the reverse stock split, shareholders have been allotted one new ordinary share with a par value of EUR1.00 for every 10 existin

Avantium: partnership with the Bottle Collective

This morning, Avantium announced it has joined the Bottle Collective as a technical partner to support the development and scale-up of Dry Molded Fiber (DMF) bottles. This industrial technology stands as a next-generation solution to produce sustainable packaging at scale, converting renewable plan

Recycling reversal

Tomra Systems: slow start to 2025

Tomra Systems has reported Q1 2025 results this morning. Q1 2025 group revenue came in at EUR306m (+5% YoY vs. EUR291m in Q1 2024) with revenues of EUR185m in Collection (-2% YoY vs. EUR189m in Q1 2024), EUR70m in Food (a strong +17% YoY vs. EUR60m in Q1 2024 and EUR46m in Recycling (flat YoY vs. E

Q1 first take: softer in Recycling

Avantium: joint-development progress in textiles

Yesterday, Avantium announced the successful development of a PEF-based spacer fabric in collaboration with partners Auping, Muller Textiles, Antex and Monosuisse. This breathable, cushioning 3D material marks a step forward for this partnership, ongoing since 2024, aiming to create PEF-based yarns

Uncertainty is bad for business

Carbios: FY24 results, getting things sorted

Carbios has reported a FY24 operating loss of EUR37.5m, vs -EUR28.9m in 2023. Restructuring FY25 is going according to plan, with cash burn expected to be reduced by 40% in order to pursue commercial discussions without liquidity pressures. The Longlaville development is still postponed by six/nine

Energy Morning - 4 April 2025