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Buzzi released its Q1 trading statement with net sales up by 17.2% (+14.5% lfl), the growth being driven mainly by Eastern and Central Europe as well as the US. The company has reiterated its outlook for the full year and, additionally, has introduced quantifiable sustainability targets for 2030 and 2050, in line with its peers and in accordance with the Paris agreement.
We leave our estimates unchanged following this trading update.
Companies: Buzzi Unicem (BZU:BIT)Buzzi Unicem S.p.A. (BZU:MIL)
Buzzi published a good set of results. It observed net sales growth in all four regions, reaching €3,446m (+6.9% yoy) and an organic EBITDA growth of 4.2% yoy. Buzzi generated ~€600m of net cash from operations and has proposed a dividend of €0.4/share (+60% yoy). For 2022, Buzzi expects a continuity in the demand momentum but operating margins will be significantly impacted in Russia, Ukraine and Italy due to the war.
Buzzi released its H1 results with net sales up by 5.8% (+4.5% lfl), the growth driven mainly by Italy, which benefited from the strengthening in domestic demand and an easy comparison base. FX had an unfavourable impact of €81m and €22m on sales and EBITDA, respectively. For the full year, EBITDA is still expected to be below FY20’s level.
Buzzi released its Q1 trading statement with net sales down by 0.8% (+4.5% lfl), the growth driven mainly by Italy, which benefited from the strengthening in domestic demand and an easy comparison base. FX had a significant impact of -5% on sales. Buzzi has reiterated its outlook for the year.
Buzzi published a good set of results. Despite the pandemic, it achieved flat sales and an EBITDA growth of 7% yoy. Along with strong operating cash flow generation, Buzzi also benefited from the sale of Kosmos Cement’s assets (+€103.6m impact on net income). It has a strong cash position, with net debt down from €568m to €242m, and Buzzi is forwarding the benefits to the shareholders through a higher dividend and a share buy-back programme.
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Volex has issued its year end trading update confirming revenues in excess of $605m and an operating profit in excess of $55m that are ahead of consensus FY22E expectations of $581m and $54.2m respectively. The Group continues to trade strongly whilst effectively managing global supply chain challenges and benefits from its proven ability to pass through inflationary cost increases, albeit with a time lag. Demand increased during the year, in particular in the EV sector where sales almost double
Companies: Volex plc
Seeing Machines has announced that it has been appointed by an existing customer and global Automotive Tier-1 supplier to deliver its FOVIO Driver Monitoring System (DMS) for a leading Japanese carmaker. This contract win, with an initial lifetime value of A$21m, is due to start production in 2025 and marks Seeing Machines' first production Automotive award in Japan bringing the total number of OEMs with which Seeing Machines has won business, to nine. Delivery is via the Company's deeply embedd
Companies: Seeing Machines Limited
Weekly round-up of AIM-listed healthcare news.
Venture Life Group, GENinCode, Kromek, Alliance Pharma, Polarean Imaging, Benchmark Holdings, Ondine Biomedical, Verici Dx, Faron Pharmaceuticals, Avacta Group, Abingdon Health, Open Orphan, Belluscura, Hutchmed (China), Oxford Biodynamics
Companies: ANIC RUA CREO GENI HEIQ IHC IXI IUG OPTI SBTX VAL VLG
The award of £9.3m government funding towards the development of ITM’s 5MW Gigastack PEM electrolysers moves the company’s offer forward at a time when the market is being pushed forward by policy developments in the UK and in Europe.
Companies: ITM Power PLC
XPD has re-hired Richard Myson as Group CFO to build back the Board and improve financial management, following various recent senior resignations. This is welcome news. Richard previously worked at XPD for 16 years, held numerous senior finance and non-finance positions, and helped steer the Group through the successful IPO in mid-2017. He left XPD in late 2018 but has remained in close contact with the Group. Richard owns c.1.4% of the shares. Further, hiring of a new non-executive chair and C
Companies: Xpediator Plc
Companies: Ilika plc
Companies: Judges Scientific plc
National Grid confirmed its safe-haven status by unveiling a strong set of FY21/22 figures, c. 3.3% above the consensus. The group is moving forward serenely, benefiting from its natural inflation indexation both at operational and dividend levels.
The mid-term FY25/26 plan is backed even if the FY22/23 outlook expected at ‘broadly flat’ is admittedly a miss. But who cares? NG is the perfect benchmark for a flight-to-quality for investors awaiting better times.
Companies: National Grid plc
Dish of the day
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What’s cooking in the IPO kitchen?
Psych Capital PLC, intends to list on the AQSE Growth Market. Psych operates the Psych Platform (a business-to-business networking platform), that is developing the Blossom Database pursuant to a third party licensing arrangement. The Company also has an investment of 426,000 common shares in Awakn, a Canadian NEO Exchange listed psychedelics research and clinical group, with operations in th
Companies: YCA 7DIG BOOM DMTR EYE KIBO NFC RST SPSY
Dish of the day
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What’s cooking in the IPO kitchen?
EnSilica, intends to join AIM. EnSilica is a designer and supplier of mixed signal Application Specific Integrated Circuits (ASICs). ASICs are integrated circuits or semiconductor chips developed for a particular use or product rather than for general purpose usage. ASICs help differentiate products through optimised hardware thereby making products smaller, faster, lower power and more
Companies: XTR XLM VRS SUP ROCK SLE SEMP OHG HDD FIH
Cenkos:Oil & Gas Sector - 23 May 2022
Companies: FO 88E CHAR DEC EME GTC TRIN WEN
2021 was a pivotal year for Getech, as the Company expanded its business model to accelerate the energy transition by using its world-class geoscience data, unique geospatial software and leading expertise to locate, develop and operate geoenergy and green hydrogen projects. This positions Getech ideally to support an anticipated global expansion in capital spending across the energy sector. Despite the uncertainties that existed throughout the year, FY21 revenue at £4.3m rose 20% YoY (in line w
Companies: GETECH Group plc
Last week's trading update revealed a number of challenges facing the group at present, led mainly by the fallout from the energy market crisis. We have updated our forecasts to reflect the new guidance and at the headline level this results in a 75% downgrade to FY22E EBITDA and a 52% cut to FY23E EBITDA. Whilst there remains ongoing volatility in the UK energy market, we believe we have been sufficiently prudent in setting our FY23 expectations. With a new management team now on board and mark
Companies: Fulcrum Utility Services Ltd
Oil climbed as a global squeeze on refined products continued to pull fuel prices higher with Russian diesel exports falling sharply.
West Texas Intermediate rose 4.1% on Friday and eked out a weekly gain of 0.7% after a series of tumultuous trading sessions where lowered liquidity exacerbated price moves. Diesel exports from Russia dropped in April from their pre-war level as oil buyers seek to punish one of the world's biggest suppliers. Investors have also been keeping a close eye on Chi