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Felix Fischer ... (+6)
  • Felix Fischer
  • Haidje Rustau
  • Jayanth Kandalam
  • Peter Low
  • Si Yong Ng
  • Tanvi Arora

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Neopharmed, PureGym, Rexel, Flos B&B Italia (formerly International Design Group), David Lloyd Leisure, Odido, Liberty Global, Infopro Digital, Eircom, Tele Columbus, McLaren, Nexans, Fedrigoni, Stada, Grupo Antolin, Cerba, Klockner Pentaplast, Cheplapharm, Crown Holdings, Motel One, Stena AB, Casino Guichard-Perrachon

James Ratzer
  • James Ratzer

Liberty LA (Buy, TP: $14.5, +110% ) / LCPR HY Deep dive on Puerto Ric...

We focus on Puerto Rico (PR). Following our call with the CFO we now see monthly EBITDA rising to $34m by y/e 2025 (and $40m by y/e 2026), driven by bad debt and credits normalizing, and revenue growth as net adds inflect.

Felix Fischer ... (+5)
  • Felix Fischer
  • Haidje Rustau
  • Jayanth Kandalam
  • Si Yong Ng
  • Tanvi Arora

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Liberty Global, Ineos, Intrum, Recordati, Ineos Quattro, TUI, David Lloyd Leisure, Aston Martin, Lowell

James Ratzer
  • James Ratzer

Liberty Global to buy out VodafoneZiggo? Our Take.

It is being reported that Liberty Global is in talks with Vodafone about potentially buying out their 50% stake in VodafoneZiggo.

Haidje Rustau
  • Haidje Rustau

Liberty Global - Earnings Flash - Q4 FY 2024 Results - Lucror Analytic...

Liberty Global’s Q4/24 results were disappointing overall, with weak top-line and margin trends. Subscriber development was not as strong as we had forecast, though we note positively the improved outlook for the UK.

Haidje Rustau ... (+6)
  • Haidje Rustau
  • Ian Wong
  • Jayanth Kandalam
  • Peter Low
  • Si Yong Ng
  • Tanvi Arora

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Nexans, TK Elevator, The Very Group, Liberty Global, Tereos, Ontex, Recordati, TI Fluid Systems, THOM Europe, Borr Drilling, Klockner Pentaplast, Casino Guichard-Perrachon

Felix Fischer ... (+6)
  • Felix Fischer
  • Haidje Rustau
  • Ian Wong
  • Jayanth Kandalam
  • Peter Low
  • Trung Nguyen

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Odigeo, TGS ASA, Constellium, United Group, Liberty Global, Klockner Pentaplast, evoke (formerly 888 Holdings), Azelis, Recordati, Vedanta Resources

James Ratzer
  • James Ratzer

Liberty Global (Neutral, $16, +42%) Q4 24 - A tough FCF outlook for 20...

Liberty Global faces a challenging time ahead with the continual trade-off of financial engineering vs. underlying fundamentals – and we think the latter will always win in the end.

Haidje Rustau ... (+5)
  • Haidje Rustau
  • Ian Wong
  • Jayanth Kandalam
  • Si Yong Ng
  • Tanvi Arora

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Nexans, TK Elevator, Liberty Global, Ontex, Allwyn (formerly Sazka), Merlin Entertainments, Borr Drilling, Neopharmed

Felix Fischer
  • Felix Fischer

European High Yield Investment Outlook 2025 - Lucror Analytics

In this publication, we review the past year and discuss our outlook for the next 12 months. We begin our discussion with the macro factors at play, including GDP forecasts, the geopolitical landscape and our expectations for cost inflation. We also trace the development of primary markets in the European HY space, and give our view on defaults in general as well as for our coverage universe. We then discuss sector trends and expectations, along with earnings development for companies under our ...

Felix Fischer ... (+8)
  • Felix Fischer
  • Haidje Rustau
  • Ian Wong
  • Jayanth Kandalam
  • Peter Low
  • Si Yong Ng
  • Tanvi Arora
  • Trung Nguyen

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Air Baltic, TAP, Liberty Global, United Group, Techem, THOM Europe, Flora Food Group (formerly Upfield), Softbank Group, Aggreko, Ineos, Premier Foods, Elior

Felix Fischer
  • Felix Fischer

Europe HY Trade Book - December 2024 - Lucror Analytics

The Europe HY Trade Book for December 2024 includes current trade recommendations drawn from our European HY coverage universe, along with relative-value scatter plots and tables by industry.

Liberty Global Ltd: 1 director

A director at Liberty Global Ltd sold 20,230 shares at 13.651USD and the significance rating of the trade was 77/100. 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 clea...

James Ratzer
  • James Ratzer

Liberty Global (Neutral, $14, +14%) Post-Sunrise spin review: New tar...

The Sunrise spin has now been completed. In our Q3 results note, we set out our preliminary views on how Liberty post-Sunrise spin could look.

Haidje Rustau
  • Haidje Rustau

Liberty Global - Earnings Flash - Q3 FY 2024 Results - Lucror Analytic...

Liberty Global (LG) has reported its consolidated Q3/24 results and held an earnings call. The Q3 revenue figures were in line with our expectations, while EBITDA exceeded our forecasts. Top-line pressures continued, but cash-flow development was solid overall and liquidity remained very strong. We expect the group to continue using large share buybacks as a means to return cash to shareholders.

Felix Fischer ... (+6)
  • Felix Fischer
  • Haidje Rustau
  • Ian Wong
  • Jayanth Kandalam
  • Peter Low
  • Tanvi Arora

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Lottomatica (formerly Gamenet), Rexel, Nexans, Liberty Global, Sunrise, Aston Martin, Techem, Synlab, evoke (formerly 888 Holdings), Boparan, Borr Drilling, PureGym

Felix Fischer ... (+6)
  • Felix Fischer
  • Haidje Rustau
  • Ian Wong
  • Jayanth Kandalam
  • Peter Low
  • Tanvi Arora

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Liberty Global, SPIE, Nexans, Techem, McLaren, Axactor, CABB, Codere, Takko

James Ratzer
  • James Ratzer

Liberty Global (Neutral, $23, +8%) Record low service revenue trends a...

This is meant to be the quarter when the upcoming Sunrise spin should be attracting most attention and helping to crystallise value. However, we can't help but be distracted by a sharp deterioration in underlying service revenue trends as the impact of lapping lower inflation price rises and a sustained KPI loss is starting to catch up with Liberty Global.

Felix Fischer ... (+6)
  • Felix Fischer
  • Haidje Rustau
  • Jayanth Kandalam
  • Peter Low
  • Si Yong Ng
  • Tanvi Arora

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Techem, CEMEX, Liberty Global, Aston Martin, Playtech, Ineos Quattro, Boparan, OPmobility (formerly Plastic Omnium)

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