Edison Sparks - Morning News

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TMT
21 hours ago • 1 minute(s) read
Author Sparks Team

Cyan AG (CYR); announces pro forma EBITDA at €4.8m

The company confirms its FY19 sales forecast at €35m and EBITDA at €20m

Cyan today released its FY18 unaudited pro forma consolidated figures, posting revenues at €22.9m and EBITDA at €4.8m. This translates into an EBITDA margin of 21%.

Industrials
22-03-2019 08:57:00 • 1 minute(s) read
Author Christian Breitsprecher

SAF-HOLLAND (SFQ); SAF beats revenue but misses EBIT margin target in 2018

Launched program to accelerate reorganisation of the North American business

SAF-Holland reported 2018 sales up 14.2% to €1,301m and adjusted EBIT of €89.6m slightly below the 2017 level of €91.2m. For 2019 management expects sales growth of 4-5% and an adjusted EBIT margin of 7 to 8%.

Investment companies
22-03-2019 08:44:02 • 2 minute(s) read
Author Sparks Team

JPMorgan Global Convertibles Income Fund (JGCI); NAV total return of -5.69%

Board will seek to maintain the targeted annual dividend of 4.5p/Sh, resulting in a yield of 5.3% on the share price prevailing at period-end, in the absence of unforeseen circumstances

For the six months ended 31 December 2018, the JPMorgan Global Convertibles Income Fund reported total return on net assets stood at -5.7% vs. -3.4% from its benchmark, the Bloomberg Barclays Global Convertibles Credit Rate Sensitive Index. The total return to shareholders was -6.8%, as the discount of the share price to NAV widened over the six-month period from 3.6% to 6.0%.

22-03-2019 08:15:00 • 2 minute(s) read
Author Sparks Team

Amur Minerals Corp (AMC); extends maturity date on convertible loan facility and undertakes further

The net proceeds of the further advance will be used for the development of the Kun-Manie project

Amur Minerals has extended the maturity date on the convertible loan facility of up to $10m to 20 March 2020, along with a further advance of $500,000 that will be immediately drawn down by the company. The company will also issue the investors with 10,902,956 warrants with an exercise price of 3.76p per share.

Industrials
21-03-2019 13:00:00 • 1 minute(s) read
Author Christian Breitsprecher

Koenig & Bauer (SKB): targets group revenue of around €1.5bn with EBIT margin of between 7% and 10% until 2023

The company proposes dividend of €1 per share up from €0.9 for 2017

Koenig & Bauer’s 2018 revenues came in at €1.23bn, up 0.7%. EBIT strengthened by 7.4%, reaching a 7.1% margin. For 2019 the company expects revenue growth of up to 4% and an EBIT margin of around 6%.

Industrials
21-03-2019 11:20:00 • 1 minute(s) read
Author Christian Breitsprecher

Hermle (MBH); reports revenues and EBIT growth of more than 10% for 2018

The company sees stable earnings despite falling orders in 2019

In 2018 Hermle’s revenues and EBIT increased by 12% to €452m and €111m respectively. The company proposes a stable payout of a €0.85 base dividend and a €14.20 dividend per preference share. New orders were up 9.6% last year.

Metals & mining
21-03-2019 09:23:31 • 2 minute(s) read
Author Ryan Long

Base Resources (BSE); reports robust PFS for Toliara

Ore will be extracted at Toliara using the lowest cost dry mining method, a dozer-trap mining unit

Base Resources has completes its pre-feasibility study (PFS) at the Toliara Heavy Mineral Sands Project, located in Madagascar. The PFS returned a robust post-tax NPV10 of US$671m with an IRR of 22.4%.

Consumer
21-03-2019 08:48:03 • minute(s) read
Author Paul Hickman

Ted Baker (TED); putting a brave face on its prospects

Management notes consumer uncertainty, discounting in many global markets, and bad weather in North America

Ted Baker, which must now embrace a future without its founder Ray Kelvin, is putting a brave face on its prospects.

Consumer
21-03-2019 08:36:48 • minute(s) read
Author Sparks Team

Game digital (GMD); has delivered a solid H1 trading performance

Higher profits and tight working capital management also helped to drive an £11.9m year-on-year increase in net cash

Against a backdrop of weak consumer confidence and a well-flagged low point in the console gaming cycle, GMD has delivered a solid H1 trading performance. GTV reduced by 1.4%, with growth in content and accessories offset by an ongoing managed decline in preowned games and a reduction in hardware and events revenue. However, both like-for-like GTV and the group gross margin remained broadly flat and this, combined with further material operating cost savings, helped to deliver EBITDA growth of 21.7% to £25.8m.

Financials & real estate
21-03-2019 08:27:46 • minute(s) read

Shore Capital Group (SGR); PBT falls 11.1% to £4.1m for 2018

Total dividends were 10.0p

Shore Capital released its preliminary results for 2018 today. Revenue increased 3.4% to £43.3m, while basic EPS decreased 3.8% to 12.6p. Total dividends were 10.0p. Increased revenues have allowed further investment in the capital markets and asset management divisions.

Industrials
21-03-2019 08:26:34 • 2 minute(s) read
Author Sparks Team

Chemring Group (CHG); posts trading update reporting that full-year expectations remain unchanged

The group now expects a more significant H2 weighting to revenue

In Chemring’s recent trading update the group reports that full-year expectations remain unchanged; however, the group now expects a more significant H2 weighting to revenue, a strong underlying operating profit and increases in cash.

Industrials
20-03-2019 10:59:00 • 2 minute(s) read
Author Christian Breitsprecher

Einhell (EIN3); reports record turnover for 2018

The company raises dividend to €1.40 per preferred share

For 2018, the Einhell Group reported revenues of €577.9m, up 4.4%. EBT amounted to €36.2m, up 1.4%, leading to a PBT margin of 6.3%, slightly down vs. the 6.5% recorded the year before.

Industrials
20-03-2019 10:58:00 • 1 minute(s) read
Author Christian Breitsprecher

WashTec (WSU); sees 2018 as a year of consolidation, expects significant improvement in 2019

Strong free cash flow on lower working capital

In 2018 WashTec’s revenues increased by 2.4 % to €435.4m but EBIT declined slightly by 1.3% to €51.5m. The company proposes a stable dividend of €2.45 per share. For 2019 management expects a significant growth in revenue and EBIT.

Financials & real estate
20-03-2019 10:34:00 • 1 minute(s) read
Author Milosz Papst

Scherzer & Co. AG (PZS); reports net loss of €0.9m for FY18

Stock flat €2.36 at 10:36 a.m. CET

Today Scherzer & Co. announced a net loss figure for FY18 amounting to €0.9m (EPS €-0.03). The company revealed that the Management Board and Supervisory Board will not recommend any dividend payment for the AGM to be held on 13 May 2019.

Healthcare
20-03-2019 09:50:00 • 2 minute(s) read
Author Sparks Team

Paion AG (PA8); FY18 net loss decreases from €12.1m to €9.9m

Stock down 2.21% to €2.21 at 9:10 a.m. CET

Today Paion released its FY18 results, posting revenues at €2.8m, down from €5.8m in FY17. R&D expenses decreased by €5.7m to €12.2m and G&A expenses were down by €0.4m at €3.4m. Paion reported a net loss of €9.9m vs. €12.1m in the previous year.

TMT
20-03-2019 08:38:22 • 3 minute(s) read
Author Sparks Team

IQE (IQE); posts FY 2018 results

Gross profit declines to £37.5m from £38.8m

For the year ended 31 December 2018, IQE announced that consolidated revenue increased 1% to £156.3m without the recognition of any license income. PBT was £14.0m, whereas fully diluted EPS was 1.38p for this period. Adjusted operating profit declined year on year to £16m in 2018 from £26.5m.

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