Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on DANIELI & CO. We currently have 6 research reports from 1 professional analysts.
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DANIELI & CO
DANIELI & CO
H1 16/17: rather weak
08 Mar 17
Danieli released H1 16/17 results (closing 30 June). Revenues reached €1,158.1m (flat), EBITDA €80.8m (-25%), EBIT €13.3m (-76%) and net result €39m (-14%). The order book at the end of December 2016 reached €2.385m (-15%). The group’s net cash at the end of H1 16/17 stood at €910.2m (+/-0%).
FY15/16 results : disappointing
28 Sep 16
Danieli released FY15/16 results (closing 30 June). Revenues reached €2,508.4m (-9%), EBITDA €211.4m (-17%), EBIT €90.2m (-40%) and the net result €88.3m (-45%). The order book at the end of June reached €2,814m (-5%). The group’s net cash at the end of fiscal 2015/16 stood at €908m (-5%). A dividend of €0.10 per share (€0.1207 for savings shares) will be proposed at the group’s AGM on 28 October.
Q3 16: the same trend as in H1
12 May 16
Danieli released 9 months figures. Revenues reached €1,691.3m (-15%), EBITDA €154m (-11%), EBIT €78.3m (-22%) and net income €54m (-54%). Net cash at the end of March 2016 amounted to €823.5m (vs €841.8m at the end of H1 and €956m a year before). The group’s order book stood at €2,975m (vs €3,026m in December and €3,155m at the end of the last fiscal year.
H1 15/16: in line
26 Feb 16
Danieli’s H1 15/16 results were released. Revenues reached €1,161.1m (-14%), EBITDA €108.4m (-14%), EBIT €55.4m (-30%) and net profit €45m (-32%). Net cash at the end of H1 was €841.8m (vs €956m at year end 14/15 and €881m in Q1). The group’s order book stood at €3,026m (vs €3,155m in June 2015 and €3,094m at the end of Q1). The group confirms the FY16 results should be in line with the forecasts made at the beginning of the year (i.e. revenues of €2,700-2,850m and an EBITDA of €240-260m).
Q1 15/16: signs of weakness
13 Nov 15
Danieli released Q1 15/16 results (as at 30 September 2015). Sales reached €556m (-15% yoy), EBITDA €51.6m (-22% yoy), EBIT €28.1m (-35% yoy) and the net result €22.5m (-58% yoy). Net cash at the end of Q1 15/16 was €880.5m (8% down from €956m at year end 2014/15). The group’s order book stood at €3,094m (-2% qoq, of which -9% in Steel Making to €154m).
FY14/15 in line. Dividend cut and no outlook (yet) released for 2015/16
25 Sep 15
Danieli released its FY14/15 results. Revenues reached €2,765.9m (-6%), EBITDA €250.5m (-19%), EBIT €150.2m (-29%) and the net result (group share) €161.8m (+5%). Net cash at the end of the year reached €956m (vs €844.3m a year before) and the order book €3,155m (+2% yoy and +15% sequentially). The company will cut its dividend to €0.10 (vs €0.30 last year), reducing its pay-out from 13-15% historically to a mere 5%.
The tide is turning
20 Apr 17
Any investor worth their salt knows it is impossible to precisely call a bottom in a particular stock. For Gattaca, though, we believe this moment has now passed given the compelling valuation (6.9x EV/EBIT vs 9.8x sector average), attractive 9.8% unlevered cashflow yield and constructive secular trends supporting its specialist markets. Sure, Net Fee Income (NFI) like-for-likes (LFL) have fallen of late, yet equally there are now early indications that organic growth may soon turn positive.
19 Apr 17
We take a look at the supply and demand dynamics of the world’s largest diamonds. Less than 200 very large (>200 carat) gem quality diamonds have ever been found, yet 23 of these have been found in the past three years. This dramatic increase is being driven by a combination of the rapid increase in the number of billionaires and hence price and demand, combined with technological developments that have improved large diamond recovery and a certain amount of geological good luck.
19 Apr 17
Lombard Risk Management* (LRM): Beats demanding growth and profit forecasts (CORP) | Frontier Developments* (FDEV): Steaming ahead (CORP) | Tax Systems* (TAX): Right place, right time (CORP) | Acal (ACL): Stronger H2 and brighter outlook (BUY) | Fenner (FENR): Interim results signal upgrades (BUY) | Minds + Machines* (MMX): US and Europe domain sales (CORP)
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.