Edison Sparks - Morning News

Through Sparks, we give you first-impression commentary on breaking news from Edison clients and their peers. Sign up to our daily email for an overview of the key stories in the market today.

Industrials
12 hours ago • 1 minute(s) read
Author Sparks Team

Mutares AG (MUX); portfolio company sells its 49% stake in an Indian joint venture

Details of the transaction have not been disclosed

Mutares revealed today that its portfolio company and platform investment, Balcke-Dürr, has sold its 49% stake in Thermax SPX Energy Technologies Limited (Thermax SPX) to the company’s joint venture partner, Thermax Limited.

Financials & real estate
15 hours ago • 1 minute(s) read
Author Sparks Team

ICG-Longbow (LBOW); reports PAT at £5.26m for the FY ending 31 Jan 2019

ICG-Longbow reported an NAV of £120.28m in their final results for the year ending 31 January 2019.

ICG-Longbow reported an NAV of £120.28m in their final results for the year ending 31 January 2019. Total dividends were reported at 6p per share, while total income, excluding prepayment fees, stood at £7.64m.

Healthcare
15 hours ago • 1 minute(s) read
Author Sparks Team

Shield Therapeutics (STX); Swissmedic approves major extension of Feraccru in Switzerland

Shield Therapeutics announced that the Swiss Agency for Therapeutic Products (Swissmedic) has accepted a major extension of the approved indication for Feraccru®.

Shield Therapeutics announced that the Swiss Agency for Therapeutic Products (Swissmedic) has accepted a major extension of the approved indication for Feraccru to now include treatment of all adults with iron deficiency (ID) with or without anaemia.

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

WANdisco (WAND); preliminary results: reports revenue of $17.0m for the year

WANdisco reported revenue of $17.0m for the 2018 financial year (2017: $19.6m). Revenue for the second half of the year increased 13% to $11.3m.

WANdisco reported revenue of $17.0m for the 2018 financial year (2017: $19.6m). Revenue for the second half of the year increased 13% to $11.3m. That said, WANdisco reported both an adjusted EBITDA loss of $9.4m (2017: $0.6m) and an operating loss of $22.1m for 2018 (2017: $9.7m).

Financials & real estate
15 hours ago • 1 minute(s) read
Author Sparks Team

Supermarket Income (SUPR); acquires a Tesco supermarket; issues consideration shares

Supermarket Income announced the acquisition of a 90k sq ft. Tesco Extra supermarket in Mansfield, Nottinghamshire.

Supermarket Income announced the acquisition of a 90k sq ft. Tesco Extra supermarket in Mansfield, Nottinghamshire, from Charities Property Fund (CPF) for £45.0m, reflecting a net initial yield of 5.2%. The acquisition consists of £33.7m in cash, as well as the issue of 10,922,330 Supermarket Income new ordinary shares at 103p per share to CPF.

Metals & mining
16 hours ago • 2 minute(s) read
Author Sparks Team

Metals Exploration (MTL); Q1 2019: better performance for mining

Metals Exploration announced its quarterly update to 31 March 2019. Mining attained a better quarter, with a production of 2.93Mt and actual mine dilution rates continued to be higher than forecasted.

Metals Exploration announced its quarterly update to 31 March 2019. Mining attained a better quarter, with a production of 2.93Mt and actual mine dilution rates continued to be higher than forecasted.

Industrials
23-04-2019 09:50:00 • 1 minute(s) read
Author Milosz Papst

Mutares AG (MUX); made binding offer to acquire ArcelorMittal TrefilUnion SAS

This would be the third acquisition made by Mutares in 2019

Today Mutares announced that the company has made a binding offer to acquire ArcelorMittal TrefilUnion SAS from ArcelorMittal Group. ArcelorMittal TrefilUnion SAS is a producer of wires and steel ropes with two plants located in France.

Healthcare
23-04-2019 07:23:12 • 2 minute(s) read

Oxford BioDynamics (OBD); receives Queen’s Award for Enterprise

The platform is designed to accelerate drug discovery and development processes and to improve success rates of therapeutic candidates

Oxford BioDynamics has received the 2019 Queen’s Award for Enterprise in innovation for its proprietary technology platform, EpiSwitch. EpiSwitch is an innovative technology platform for the discovery, evaluation, validation and monitoring of a novel class of epigenetic biomarkers known as “chromosome conformation signatures.”

Financials & real estate
18-04-2019 16:00:00 • 2 minute(s) read
Author Milosz Papst

The Naga Group AG (N4G); launches restructuring of the group

Restructuring effects will be fully visible in FY20

Naga revealed today that it will restructure the group amid continued uncertainties in the capital markets and specifically the cryptocurrency space. The company highlights that no additional funding should be required to carry out the restructuring process.

Financials & real estate
18-04-2019 14:55:00 • 3 minute(s) read
Author Michal Mierzwiak

Consus Real Estate AG (CC1); releases FY18 results

The company confirms its guidance, with a target adjusted EBITDA at €450m in 2020

Consus released its final FY18 results yesterday, posting sales of €615m and adjusted EBITDA at €204m, which translated into an EBITDA margin of 33%. Net income amounted to €1m and the company achieved a positive cash flow from operating activities of €132m. Consus also increased its Gross Development Value (GDV) by €5bn to €9.6bn.

Financials & real estate
17-04-2019 09:00:19 • 1 minute(s) read
Author Sparks Team

Record (REC); trading update: assets under management equivalents total $57.3bn or £44.0bn

Between December 2018 and March 2019, Record’s assets under management equivalent (AUME) decreased 0.9% in terms of USD and 3.1% in sterling.

Between December 2018 and March 2019, assets under management equivalent (AUME) decreased 0.9% in terms of USD and 3.1% in sterling. Exchange rate movements and mandate volatility targeting had an impact of -$0.1bn on AUME, while movements in global stocks and other markets contributed +$3.0bn.

TMT
17-04-2019 08:59:57 • 1 minute(s) read
Author Sparks Team

Carclo (CAR); year-end trading update

Carclo’s Technical Plastics and Aerospace divisions report performance in line with expectations for the year ended 31 March 2019.

Technical Plastics and Aerospace divisions report performance in line with expectations for the year ended 31 March 2019. Wipac division saw improved production volumes. However, elevated costs and lower development and tooling revenue dragged down profits for the division and the group for the year.

Industrials
17-04-2019 08:57:27 • 1 minute(s) read
Author Sparks Team

PowerHouse Energy (PHE); first revenue contract signed with Waste2Tricity

PowerHouse’s revenue contract can lead to a build contract and licence for use of the DMG® Technology at the Protos site, subject to successful outcome.

PowerHouse’s revenue contract can lead to a build contract and licence for use of the DMG® Technology at the Protos site, subject to successful outcome. Stage one of engineering design services will include specific feedstock analysis and testing, including some third-party services, site modelling and specific engineering related to the Protos site. This will define the parameters of second stage, which will include placing of Front End Engineering Design (FEED) contract with an Engineering, Procurement and Construction (EPC) contractor.

Financials & real estate
17-04-2019 08:50:00 • 2 minute(s) read
Author Milosz Papst

UmweltBank AG (UBK); guides to FY19 total business volume at €4.5b and EBT of €37m

Management will propose to pay out dividend of €0.33 per share, compared with last year’s €0.32

Umweltbank released yesterday its final FY18 figures, posting an increase in total business volume to €4.1b (up by 9.4% year-on-year), and in total assets to €3.7b (up by 6.1% year-on-year). The cost to income ratio increased to 33% from 29% in FY17.

TMT
17-04-2019 08:49:48 • 1 minute(s) read
Author Sparks Team

GB Group (GBG); expects to report adjusted operating profit of ~£31.7m for FY19

GB Group issued an update on its trading performance for the year ending 31 March 2019, whereon an underlying constant currency basis, organic revenue increased 11.3%

GB Group issued an update on its trading performance for the year ending 31 March 2019, whereon an underlying constant currency basis, organic revenue increased 11.3%. GB Group’s net debt balance stood at £66.3m on 31 March 2019 (2018: £13.5m net cash) after it used cash and debt to acquire Vix Verify Global and used another £86m of debt partially to finance the purchase of IDology.

Industrials
16-04-2019 15:12:00 • 2 minute(s) read
Author Milosz Papst

Mutares AG (MUX); confirms its FY18 preliminary figures

Management will propose a dividend of €1 per share, in line with previous year

Today Mutares released its final FY18 results, confirming a decrease in sales from €899.7m to €865.1m. EBITDA declined from €67.1m to €49.1m. Adjusted EBITDA increased from -€27.9m to €4.5m and amounted to €14.5m for the continued portfolio.

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