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Research Tree provides access to ongoing research coverage, media content and regulatory news on STADA ARZNEIMITTEL AG. We currently have 8 research reports from 1 professional analysts.
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STADA ARZNEIMITTEL AG
STADA ARZNEIMITTEL AG
Q3 16 : roughly in line, despite Russia and the UK
10 Nov 16
Stada reported Q3 16 figures. Sales reached €507m (-0.1%), EBITDA €88.4m (-11%, -6% adjusted), net income €18.3m (-50%, +4% adjusted). Over 9 months, sales totalled €1,541.7m (+0.5%), EBITDA €289.1m (+3%, +2% adjusted), and net income €100.3m (+11%, +10% adjusted). Net debt at the end of Q3 was €1,187m (vs €1,211.3m at the end of H1 and €1,216m at year-end 2015. The group targets an adjusted net income of “at least €180m” for FY16 (which compares to “a slight growth on FY15” previously, keeping in mind adjusted net income reached €165.8m last year).
H1 16: well on track for FY guidance
04 Aug 16
Revenues were up +1% to 1,037.4m, reported EBITDA +11% to €200.7m (adjusted +7%), operating income +22% to €136.3m (+11% adjusted) and net income +53% to 82m (+13% adjusted). Net debt reached €1,211.3m vs €1,216m at year-end 15. Management confirmed its outlook for FY16, according to which slight growth in sales adjusted for currency and portfolio effects, adjusted EBITDA and adjusted net income is to be expected. Looking further ahead, the group anticipates sales of €2.6bn, adjusted EBITDA of €510m and adjusted net income of €250m within a +/-5% range for FY19.
Q1 16: not too bad...
12 May 16
Q1 16 revenues were up 2% to €497.1m (+4% lfl at CER), EBITDA up 7% to €85.2m, adjusted EBITDA down 1% to €92.1m, operating profit up 12% to €56.3m (flat on an adjusted basis) and net income up 40% to €29.6m (+6% adjusted). The group maintains its guidance for the full-year, i.e. a slight growth in sales adjusted for currency and portfolio effects, adjusted EBITDA and adjusted net income.
FY15 in line. Russia still a worry for FY16
23 Mar 16
Stada released FY15 results. Sales reached €2,115.1m (+3% and +4% on a constant scope and currency basis), EBITDA €377.1m (-10%), adjusted EBITDA €389.4m (-10%), operating profit €223.7m (+19%) and adjusted operating profit €283.8m (-12%), net income €110.4m (+71%) and €165.8m (-11%) on an adjusted basis. Looking into FY16, the group anticipates a slight growth in sales adjusted for currency and portfolio effects, adjusted EBITDA and adjusted net income. Net debt reached €,1215.7m at year-end 2015. Lastly, the dividend proposed will be €0.70 (vs €0.66 last year).
Preliminary FY15: no reason to get excited
29 Feb 16
Stada released preliminary FY15 numbers. Sales are expected to have reached €2,115.1m (+4% at CER and constant scope), EBITDA €377.1m (-10%), adj. EBITDA €389.4m (-10%), net income €110m (+71%) and €165.8m (-11%) on an adjusted basis. The increase in reported net income (€110.4m vs €64.6m) is mainly attributable to far higher impairments in FY14. Net debt is expected at €1,215.7m. The dividend proposed will be €0.70 (after €0.66 in FY14).
N+1 Singer - Morning Song 21-03-2017
21 Mar 17
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N+1 Singer - EKF Diagnostics - Final results & potential buy back
20 Mar 17
FY16 prelims are slightly ahead of our latest expectations, those having been increased materially over the course of H2’16 as the strength of the recovery in trading became apparent. In order to maximise shareholder value, the directors are currently examining a potential break up of the group. This would also involve a delisting from AIM. A buy back offer at 21.5p would therefore be made to those investors that wish to exit now rather than holding their shares for the two years plus it would likely take to achieve a potentially higher realisation value for the businesses.
Good results, but further restructuring complex for investors
20 Mar 17
EKF Diagnostics FY 2016 results are slightly ahead of expectations, with both higher revenue and better EBITDA. Management has also announced plans to split the company into two separate companies, Point of Care and Laboratory Diagnostics, with the prospect of a delisting to manage the process. The primary metric for valuation of the two businesses is different consequently we believe that the separation is likely to generate significant value. However, in anticipation of the volatility likely given the restructuring announced this morning, despite the strength of the results, we reduce our recommendation to HOLD and maintain our 21p target price.
N+1 Singer - Morning Song 22-03-2017
22 Mar 17
Carador Income Fund (CIFU LN) Premium rating restored, high levels of refinancing activity | Cello Group (CLL LN) Outlook getting brighter – watch Pulsar | Eckoh (ECK LN) Largest ever US secure payments win | eg solutions (EGS LN) Full year results in line | Futura Medical (FUM LN) Licensing deal for CSD500 in Portugal | Verona Pharma (VRP LN) Global agreement with QuintilesIMS to support development of RPL554 | Xaar (XAR LN) 2016 results slightly ahead, reduced visibility in 2017
N+1 Singer - N1S Trend spotting - Strategy update
08 Mar 17
In this new product we present some strategy theme updates arising out of our latest analysis of macro trends and economic data and our innovative Quant work. We also look at upcoming events and suggest topping up on some of our Best Ideas for 2017.