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.
Frequency of research reports
Research reports on
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.
N+1 Singer - Uncovered Gems - Speed Dating Lunch - A Famous Five for the future?
12 Apr 17
On Friday we hosted our third “speed dating” lunch with the management of five very interesting and contrasting companies not under our formal coverage: Be Heard, Byotrol, Gfinity, Oxehealth and Plant Impact. Each company gave a concise and punchy overview of its business and investment case to a group of fund managers, before rapid fire Q&A. Below we summarise our thoughts on each company with more details inside the note, plus some relevant slides. We believe that all five companies are well-managed and well worth a closer look - we intend to repeat this efficient and popular format for engaging with management teams.
N+1 Singer - Small-cap quantitative research - Growth style screen revamp and 10 focus stocks
06 Apr 17
We have reviewed the performance of our consistent growth screen since the previous refresh on 27 September 2016 and revamped the selection parameters to focus more on forecast sales and EPS growth going forward. In the period under review the consistent growth style screen outperformed the small-cap benchmark by c. 6% and underperformed the microcap index by a similar amount. Interestingly, although growth doesn’t always seem to be defensive as might be expected, however it appears right to buy growth on dips caused by or coincident with wider market volatility. In the new forecast growth screen we take a close look at 10 focus stocks. We will monitor performance and refresh it in three to four months time.
N+1 Singer - Morning Song 25-04-2017
25 Apr 17
Carpetright (CPR LN) Tougher conditions leaves forecasts towards lower end of range | Centaur Media (CAU LN) Bigger steps | Elementis (ELM LN) Positive update confirms strengthening of demand | Rathbone Brothers (RAT LN) Facing the challenge to deliver growth | Vp (VP/ LN) Another niche Hire Station deal prompts 3% EPS upgrades
Small Cap Breakfast
24 Apr 17
Global Ports Holding—Intention to float on Standard List of the Main Market. International cruise ports operator. Seeking $250m raise including $75m primary offer. Dorcaster—Schedule One Update. Admission now expected on AIM 3 May. RTO of Escape Hunt raising £14m at 135p. Verditek— Intention to float on AIM. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Raising £3.5m. Admission in May. Eddie Stobart Logistics— Schedule 1 update. Admission expected 25 April on AIM raising £122m. ADES International Holding— Intends to join the Standard List of the Main Market in May raising up to $170m plus a vendor sale. Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa. Admission expected in May. Tufton Oceanic Assets– Offer extended to 9 May on specialist funds segment of Main Market to enable investors to complete further due diligence.
24 Apr 17
Lok’nStore* (LOK): Growth supported by a strong balance sheet (CORP) | Mortice* (MORT): UK acquisition (CORP) | Avacta* (AVCT): Another milestone – 1st non-therapeutics licence (CORP) | Petra Diamonds (PDF): Trading update and Q3 results (BUY) | Nasstar* (NASA): Growth and margin focus (CORP)