Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on ADVENIS SA. We currently have 4 research reports from 1 professional analysts.
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Time to determine the strategy pay off
14 Dec 15
We update our figures on the company’s recent publication and news on the Real Estate development in Germany. Overall, the top-line increased by 8% in Q3 on a pro-forma basis. By segment, revenues stood at €7.3m in Distribution and Asset Management, €6.3m in Production and €7.6m in Services. The German fund Eurovalys has just acquired its first office building for €20m in Cologne, at a 5.1% gross yield, in a JV with Inovalis Real Estate Investment Trust. The 6,000sq.m building is currently rented to GDF Suez on a 10-year lease. Management maintains its guidance and its ambition to reach revenues of €110m and collect capital of €800m by 2017.
Positive operating results by 2016
18 Sep 15
We have updated our model after Advenis’ H1 report publication. Revenues stood at €40.9m, up 4.4% yoy on a pro forma basis, and the gross margin stood at 52% (from 59% yoy) due to higher operating charges — €19.8m from €16m yoy. Wages and external costs amounted to €24.9m, ahead of the pro forma €21.19m in H1 14, resulting in an operational loss of €5.6m in H1 15. Net financial charges now represent 4.9% of sales, an improvement from the 7.7% yoy and in line with the decreased level of debt, now standing at €18.4m from €19m at FY14. Net results stood at -€6.8m from a positive €3.9m yoy.
H1 interim — acceleration expected in H2
31 Jul 15
Advenis (aka Avenir Finance) published its interim H1 results. Revenues stood at €40.95m, up 4% on a pro-forma basis, the gross margin at €21.1m, down 9%, and the net result at -€6.9m. Management has confirmed its medium-term guidance of a turnover of €110m by 2017 and fund inflows of as much as €800m by the same year.
Slowly but surely
17 Jun 15
Avenir Finance published revenues of €80m in FY 14 (on a pro forma basis) up 20% on a yoy basis, evenly distributed between its three new segments: 35% from Distribution & Asset management, 36% from Real Estate Production and 29% from Real Estate Services. The new segments are as follows: - Distribution & Asset Management: Avenir Finance Investment Management and Avenir Finance Gestion Privée; - Real Estate Production: Inoprom, Avenir Finance Immobilier, and Realista Residences? - Real Estate Services: Realista (o/w the Adyal activities), AF Gestion & Property, as well as the German activity Inovalis Asset Management). FY 14 EPS stood at 17 cents and Avenir Finance is targeting a turnover of €110m by 2017 and as much as €800m fund inflows by the same year.
28 Mar 17
ClearStar* (CLSU): Building a background for growth (CORP) | Sound Energy (SOU): TE-8 results (HOLD) | LiDCO* (LID): 2017 should be a transformative year (CORP) | Proteome Sciences* (PRM): FY 2016 in line. Moving towards breakeven (CORP) | Fulcrum (FCRM): Significant market potential, rising margins and a strong balance sheet (BUY) | Mortgage Advice Bureau (MAB1): Strong and growing intellectual property (BUY) | 7digital* (7DIG): Open offer result (CORP)
Another positive verdict
20 Mar 17
Burford’s results for 2016 produced another outstanding set of figures. Revenue grew by 60% to $163.4m with strong growth in the litigation finance business and an additional boost from a secondary sale in the Petersen case. On an underlying basis net income grew to $114m, a 75% increase despite the investment in growing capacity which increased costs. A combination of ongoing investment and gains and increases on valuation saw the fair value of the litigation assets increase 67% to $559m, underpinned by a growth in invested capital to $394m. With the results statement there was an announcement of a further sale of 9% of the Petersen case at a valuation of 20 times the cost of investment.
Small Cap Breakfast
28 Mar 17
Path Investments—Publication of prospectus from the Energy Investment Company. Raising £1.4m. Admission due on or around 30 March | Franchise Brands—Schedule 1 detailing £28m reverse takeover of Metro Rod. Admission expected 11 April | Alpha FX Group— Schedule 1 from the foreign exchange provider focused on managing exchange rate risk for UK corporates that trade internationally. Fundraise TBC. Admission expected 7 April. | K3 | Capital Group—Schedule 1 from the Group of business and company sales specialists across business transfer, business brokerage and corporate finance. Admission date and fundraise details TBC. | Integumen— Schedule 1 from the personal health company developing and commercialising technology and products for the human integumentary system. Raising £2.16m at 5p. Expected market cap £8.16m. Admission expected 5 April. Tufton | Oceanic Assets– Offer extended to 9 May to enable investors to complete further due diligence.