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.

Healthcare
18-03-2019 09:21:40 • 2 minute(s) read
Author Sparks Team

ReNeuron Group (RENE); post update on Phase I/II trial of therapy candidate in retinitis pigmentosa

Dosing of the second cohort of three Phase II subjects has now started

ReNeuron reported that clinical data from the first Phase II patient cohort of its hRPC cell therapy achieved a positive review from the Data Safety Monitoring Board. All three subjects reported a quick and marked improvement in vision. Dosing of the second cohort of three Phase II subjects has now started. The second cohort consists of patients with a greater baseline level of visual acuity than those treated previously.

Financials & real estate
18-03-2019 08:33:04 • minute(s) read
Author Sparks Team

Raven Property Grp (RAV); underlying earnings stood at £20.0m for FY ended December 2018

Occupancy rose to 89% from 81% as of 31 December 2018

Raven Property announced that currency movements have adversely affected its trading performance. In addition, it incurred an IFRS loss of £120.7m following a revaluation currency loss.

Financials & real estate
18-03-2019 08:32:02 • 2 minute(s) read
Author Sparks Team

Primary Health Properties (PHP); acquires a new primary healthcare medical centre

Main tenants of the property would be GPs of the North Road Surgery with a 25-year lease.

Primary Health Properties has entered into a contract to acquire a medical centre in Kew, London. The facility is due to be completed in October 2019, and will have a net internal area of c. 845 sq. m, for £4.6m by the way of forward funding.

Financials & real estate
15-03-2019 14:46:00 • 1 minute(s) read
Author Milosz Papst

UmweltBank AG (UBK); arranges a €7.9m bond issue of NATURSTROM

The bank intends to become more active in corporate fixed income securities this year

NATURSTROM plans to issue up to €7.9m in bonds in cooperation with UmweltBank. The bonds mature in August 2028 (and thus have a 9.5-year tenor) and offer a 3.25% fixed coupon. NATURSTROM has been active in the renewable energy sector for 20 years, and the new debt facility will finance its expansion in the wind and solar energy sector.

Industrials
15-03-2019 11:15:00 • 1 minute(s) read
Author Christian Breitsprecher

MAX Automation (MXHN); reports 2018 continuing EBIT slightly above guidance range

MAX bottom line hit by discontinued operations

MAX Automation reported 2018 continuing group sales of €277.4m up 10.6%. EBIT before PPA amortisation from continuing business was down 10.6%, to €18.8m. Net profit was hit by losses from discontinued operations leading to an overall group net loss of €35.6m.

TMT
15-03-2019 10:00:00 • 1 minute(s) read
Author Sparks Team

EQS Group AG (EQS); meets its FY19 forecast according to preliminary figures

Stock down 1.37% to €72.00 at 9:32 a.m.

EQS revealed today that the company’s preliminary sales increased by 19% year-on-year to €36.21m, whereas EBITDA decreased to €0.3k (FY17: €2.35m). Both figures are in line with the company’s guidance released on 16 August 2018.

TMT
15-03-2019 09:54:00 • 2 minute(s) read
Author Sparks Team

DATAGROUP SE (D6H); increases dividend to €0.6 per share and sets new FY19 guidance

Stock flat at €35.45 at 9:24 a.m. CET

Yesterday DATAGROUP’s shareholders decided at the Annual General Meeting that the company will pay out a dividend of €0.6 per share, up from last year’s €0.4. This translates into a dividend pay-out ratio of c. 40% and represents a dividend yield of c. 1.7% based on closing price on 14th March. In addition, the company has published updated sales and earnings targets.

Consumer
15-03-2019 09:02:51 • minute(s) read

Restaurant Group (RTN); results show a decline but not a disaster

For 2018, profit before tax was down 8.1% to £53.2m

Restaurant Group’s results show a decline but not a disaster. The end of 2018 could just mark a crucial inflexion point for the group, where it now has the critical mass to address the structural weakness of its traditional Leisure division, while hopefully preserving the momentum of growth, debt control and a dividend stream. At this point, however, it is all still to be done.

Metals & mining
15-03-2019 08:39:08 • minute(s) read
Author Ryan Long

European Lithium (EUR); reports interim results and provides an update on potential grant funding


European Lithium has announced its interim results for the year ending 31 December 2018 and provided an update on potential grant funding for its Wolfsberg Lithium Project, located in Austria.

Industrials
15-03-2019 08:30:58 • 2 minute(s) read
Author Sparks Team

QinetiQ (QQ); wins US Army CRS(I) contract for delivery of small ground robots

QinetiQ’s North American operation, with over 40 years of experience in robotics, will produce the back-packable robot,

QinetiQ reports it won a US army contract for the delivery of small ground robots. The seven-year Indefinite Delivery Indefinite Quantity (IDIQ) contract is valued up to $164m. It includes a Low Rate Initial Production (LRIP) phase worth c. $20m over one to two years.

Investment companies
15-03-2019 08:24:23 • 2 minute(s) read
Author Sparks Team

Fidelity European Values (FEV); post FY18 results with NAV total return declines of 4.8%

Board recommends final dividend of 6.28p per share

For the year ending 31 December 2018, Fidelity European Values recorded a NAV total return of -4.8%, which compares favourably to benchmark returns of -9.5%. As the discount widened the share price total return fell 6.8%. In aggregate, the results show the financial sector provided the greatest boost to relative performance.

Financials & real estate
14-03-2019 13:05:00 • 2 minute(s) read
Author Milosz Papst

Helma Eigenheimbau AG (H5E); reveals a 10.6% year-on-year increase in EBT

Stock up 6.21% to €33.35 at 9:31 a.m. CET

Helma today revealed that its preliminary FY18 sales decreased to €253.3m from last year’s €267.4m. EBIT amounted to €22.9m (FY17: €22.1m) when adjusted for the disposal of capitalised interest. EBT increased by 10.6% year-on-year to €21.2m and was in line with guidance (€21.0-22.5m), while EPS reached €3.62 vs. €3.25 in FY17.

Industrials
14-03-2019 12:15:00 • 2 minute(s) read
Author Christian Breitsprecher

Wacker Neuson (WAC); reports record revenue and margin improvement for 2018

Stock 7.69% to €22.40 at 9:39 a.m. CET

Wacker Neuson reported 2018 revenues increases to €1.7bn, up 11% year-on-year. EBIT grew faster to €159.7m, up 22%, lifting the margin to 9.4%. For 2019, the company targets revenue growth of 4-8% and an EBIT margin of 9.5-10.2%.

Financials & real estate
14-03-2019 10:28:00 • 2 minute(s) read
Author Milosz Papst

MPC Münchmeyer Petersen Capital AG (MPCK); launches healthcare strategy in its real estate segment

MPC’s subsidiary secured €30m for portfolio development purpose

Yesterday MPC revealed that it has expanded its real estate portfolio, entering the healthcare segment in the Netherlands. Until now, assets under management (AUM) in the real estate segment, consisted of office, retail and residential properties only.

Consumer
14-03-2019 08:34:20 • 2 minute(s) read
Author Paul Hickman

DFS FURNITURE (DFS); is resolutely sticking to its guidance for the year to July 2019


DFS is resolutely sticking to its guidance for the year to July 2019, despite lower order levels since January, and is assuming no further weakening of the market environment. The market is expecting PBT of £50m for the year, up from £37m for FY18. Interim results today are accompanied by a detailed list of potential Brexit impacts, including consumer demand, potential border delays, increased regulation, tariffs, exchange rates, and the effect on EU nationals on the payroll.

Consumer
14-03-2019 08:22:00 • 2 minute(s) read
Author Sparks Team

PPHE Hotel Group (PPH); acquires properties worth $42m through JV agreement

The total capital committed by PPHE is US$17.6m

PPHE announced the acquisition of properties at 538, 540 and 542 West 29th Street, New York, through an agreement between a wholly owned subsidiary and a real estate development and investment firm based in New York, Largo 542 West 29th Street Partners LLC.

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