Research that is free to access for all investors. Companies commission these providers to write research about them.
Brokers who write research on their corporate clients and make it available through our main bundle offering.
Research that is paid for directly by asset managers. Only accessible to institutional investors permissioned for access.
Event in Progress:
Discover the latest content that has just been published on Research Tree
Factoring in the dilution from CSG and a deterioration in the 2023 performance OPINION CHANGE CHANGE IN OPINION Reduce vs Buy CHANGE IN EPS 2023 : € (0.02) vs 0.03 ns 2024 : € 0.05 vs 0.11 -55.4% We have trimmed our EPS estimates after the group withdrew its sales guidance. With sales now expected to be lower than €100, we believe that there is a threat to licensing revenues, which directly add to profits. Additionally, vehicle sales could also be impacted, which would lead to unde
Companies: Gaussin SA (ALGAU:PAR)Gaussin (ALGAU:EPA)
AlphaValue
Last week Gaussin announced a strategic partnership with Czechoslovak Group (CSG) that will also lead to an injection of €15-25m in funds which is (much) needed for the advancement of Gaussin’s ambitions. As a consequence of this partnership there will be changes to the company’s Board and Executive Committee, and some possible dilution.
Gaussin sales for the first semester of 2023 were half the level of the previous year mainly due to a decline in the sales of port vehicles as well as Metalliance (underground activities). In the wake of the Amazon orders, inventories also increased significantly. Moreover, the group recently raised funds via equity financing which has led to dilution. This arrangement could potentially lead to further heavy dilution as the group needs funds to ramp-up its manufacturing and deliveries.
Updated forecasts post the H1 release and the impact of warrant issuance TARGET CHANGE CHANGE IN TARGET PRICE € 2.96 vs 4.90 -39.5% Our target price goes down following downgrades across the DCF, NAV and peer based valuations. Recent dilution has been a major factor in this and, given that Gaussin will require funding to scale up manufacturing, future equity dilution cannot be ruled out and hence remains a key risk to consider. CHANGE IN EPS 2023 : € 0.03 vs 0.28 -89.9% 2024 : € 0.
Gaussin in partnership with Macnica has acquired Navya, the Lyon-based start-up that develops autonomous shuttles. This is an opportunistic transaction in two ways. First, Gaussin has taken over only the assets of the business, and second, this acquisition offers growth avenues for both companies.
Founded in 1880 by Eugène Gaussin, and currently headed by Christophe Gaussin, Gaussin is an engineering company that designs, assembles, and sells innovative products and services in the transport and logistics sectors. Gaussin’s know-how spans across off- and on-road vehicles (manned and autonomous), with expertise in the integration of all types of batteries (electric and hydrogen fuel cells). It also owns a subsidiary in Metalliance, which specialises in the design and construction of indust
Research Tree provides access to ongoing research coverage, media content and regulatory news on Gaussin. We currently have 6 research reports from 1 professional analysts.
Supreme’s FY24 trading update confirms a record performance in the 12 months to 31 March 2024. Organic revenue and profit growth across all four divisions has driven Group revenue +45% YOY to £225m, with FY24 adj. EBITDA almost doubling to ‘at least £38m’, driving record levels of cash generation. Supreme is actively exploring complementary M&A, supported by a debt free balance sheet. Trading on an undemanding FY25 PE of just 6.7x, with a 3.4% yield, we believe downside risks are more than price
Companies: Supreme PLC
Zeus Capital
Companies: FOG PHC FEN BBSN ELIX
Cavendish
Shore Capital
Companies: James Latham Plc
SP Angel
Headlam Group has laid out an ambitious long-term revenue target of between £900m and £1bn, as it seeks to grow its share of the UK floor coverings distributor market. Despite a challenging backdrop due to the low level of residential housing transactions, management is seeking to expand each of its sales channels: Trade Counters, Larger Customers, Regional Distribution and Europe & Other. The FY23 results reflected the more challenging environment and the group trades at a discount to its long-
Companies: Headlam Group plc
Edison
The focus of Hardman & Co Research is on the nine quoted Infrastructure Investment Companies (IICs) and on the 22 Renewable Energy Infrastructure Funds (REIFs): the stocks analysed are all members of the Association of Investment Companies (AIC). We are updating our publication of January 2023, assessing both the lacklustre share price performances during 2023 and the key issues, including interest rates, inflation and power prices. As a 31-strong group, its combined market capitalisation is no
Companies: AEIT ROOF DGI9 INPP GSF SEIT USFP HICL ORIT BSIF TRIG NESF SEQI HEIT GRP GCP FSFL 3IN AERI PINT RNEW BBGI GSEO DORE TENT GRID CORD HGEN AEET
Hardman & Co
Companies: CLA STM GLN FXPO KAV GWMO CEY BHP THX EEE
Companies: Ilika plc
Liberum
24th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi
Companies: FTC AGL SRT SOU G4M AOM SUP
Hybridan
Companies: Gattaca plc
Companies: Severfield Plc
Companies: ANTO RIO FXPO AAL TRR GLEN BHP
22nd April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi
Companies: ARV CTL AFRN FEN HUW TENG BBSN EAAS VAL
Quadrise (QED LN) has provided an update on its Utah project with Valkor. Valkor’s partner (Heavy Sweet Oil LLC) has received funding and approval to commence drilling enabling production of 20-40bopd of heavy sweet oil providing QED with samples for production of test scale quantities of MSAR and bioMSAR; the company’s key fuel decarbonising emulsion fuel products. This should derisk the commercial scale ramp up. QED management has highlighted that Valkor has not yet raised the minimum of US$
Companies: Quadrise PLC
VSA Capital
Share: