Equity Research, Broker Reports, and media content on PATISWISS AG

  • Access the latest forecasts, broker valuations, multiples, and video content from the city about PATISWISS AG
  • See live updates from analysts, company announcements, and other news in a personalised/single dashboard

Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on PATISWISS AG. We currently have 0 research reports from 0 professional analysts.

Open
N/A
Range Today
N/A
52 Week
0.00/0.00
Daily Volume
N/A
# Shares
0m
Daily Liquidity
0.0%
Pension Liability
Enterprise Value
n/am
Market Cap
0m
Latest PE (hist)
Div Yield

Latest News/RNS

(more news)
Date Source Announcement
Get free RNS email alerts

  • Frequency of research reports

     

  • Research reports on

    PATISWISS AG

  • Providers covering

    PATISWISS AG

  • 23 Jan 20
LIBERUM: Hotel Chocolat* - H1’20 trading strong; investment to support sustainable growth

H1’20 trading has been strong delivering 26 week sales growth of +14%, 1ppt ahead of the previous year. All areas of the business have been robust and we see the momentum from the all-important Q2 trading period having continued into Q3.

Companies: Hotel Chocolat Group
  • 28 Jan 20
Year-end update more reassuring than feared but rating remains full given ongoing headwinds

A brief year-end trading update with not a huge amount of details. The main point is that post the July 2019 profit warning, the PBT performance through a combination of mix and cost savings has come in towards top-end of market expectations, implying c18% y/y decline. So a c3% beat vs our £36.5m. Revenue decline at -9% however was worse than our -7%. This reflects ongoing challenges with the Rubicon and Rockstar barns and lower Irn-Bru volume due to price realignment. Net, the company had a better H2 than H1 and from our understanding, exits Q4 with good momentum. Looking ahead to 2020, the comps are easier and the company is expected to get back into growth mode (albeit 3% at the PBT level). The main cloud on the horizon is the Deposit Return Scheme for Scotland, and we understand the Scottish Parliament will provide an update on plans in the next few weeks. We view this as short-term negative for AG Barr and hence have a y/y profit decline for FY22. Post today’s update we nudge our current year PBT up by 2% and FY21 by 2% also. There will be some investor relief this morning but given the anaemic growth outlook and ongoing headwinds we feel an FY21 P/E looks full. We stay at Hold.

Companies: A.G. Barr
  • 09 Jan 20
In line 2019 outcome highlights another year of solid progress and delivery

Nichols has issued a scheduled year-end trading update. In a tough soft drinks market it has once again delivered against market expectations, highlighting the strength of the diversified model. Briefly, growth was in evidence across all three division, with the core Vimto brand holding market share despite a very strong UK comp and International having a good year. This translated into c4% sales growth and 3% at the PBT level. So another year of solid delivery, further reinforcing management’s excellent track record. The outlook for 2020 remains unchanged from the reduced guidance given last month owing to the Middle East excise duty related headwind. We are prudent with our numbers and following the 2020 reset, the company is expected to return to growth in 2021. Overall, we remain positive, attracted by the cash generative nature of Nichols’s asset light business model and significant UK and International growth potential from market share gains. On a 12m view we expect the company to continue outperforming operationally and investors to focus on its superior fundamentals.

Companies: Nichols
  • 19 Jul 18
Solid interims with a 3% PBT beat

Nichols interims have come in ahead of expectations and, as a sign of ongoing confidence, the DPS has been lifted by 11.9%. We are impressed by double digit UK sales growth, with an excellent 9% LFL from the core Vimto brand. International sales were broadly in line with guidance. Whilst we make no forecast changes, the risk remains on the upside. We see intrinsic value towards 1950p on DCF criteria and stay positive on BS strength/optionality, a progressive DPS and growth prospects.

Companies: Nichols
  • 23 May 19
Cranswick - Ready to capitalise on opportunities

Cranswick had a year of consolidation in FY19, showing resilience against an uncertain and intensely competitive market backdrop. Management has continued to invest in the business to strengthen its asset base. Revenues were broadly flat on an underlying, like-for-like basis, and adjusted PBT was slightly ahead on the same basis, despite the tough trading environment. Capital investment behind the business continues apace: the Continental meats facility was completed in FY19 and the construction of the new state-of-the-art poultry processing facility is well underway.

Companies: Cranswick
  • 02 Jul 19
Where’s the Value?

Warren Buffett once said that as an investor, it is wise to be ‘fearful when others are greedy and greedy when others are fearful’. Fear is not in short supply right now.

Companies: OPM ALU ANCR BLV CONN CRC STU GATC HAT LEK MMH MCB MWE NXR NTBR NOG PAF PEG RFX SRC TEF TEG TPT VTU WYN XLM

  • 16 Aug 19
Investors hungry for Food Tech

The spotlight on food technology has perhaps grown more as a result of changing consumer trends, and environmental necessity than from investor appetite for something new. According to Robbins Research, livestock account for 18% of greenhouse gas (GHG) emissions, which is higher than the portion of GHG emissions created by transportation. Livestock also produce 35% of the world’s methane, which has more than 20 times the Global Warming Potential of carbon dioxide, and generate 65% of the world’s nitrous oxide, which has 23 times the GWP of carbon dioxide. The irrigation of feed crops also accounts for nearly 8% of the world’s human water use. Hence the need for plant-based alternatives to traditional protein sources, which are produced far more sustainably than traditional meats.

Companies: PURE SIS PXS RGD TEK ANIC EDEN PHC

  • 04 Nov 19
THE MONTHLY November 2019

The trade-off in the risk/reward for gold and gold mining equities is improving, as central banks push the current iteration of the post-World War II Bretton Woods financial order towards its limits.

Companies: AVO AJB AGY ARBB BUR CLIG DNL DPP FLTA GTLY GDR MCL MUR NSF PCA PIN SRE PHP RE/ RECI RMDL STX SCE TON SHED VTA W7L

  • 09 Dec 19
Good FY results despite difficult backdrop

Zambeef has reported FY2019 results for the twelve-month period ending 30 September 2019. In what is a tough macro environment in Zambia, we believe that the company has delivered a very creditable performance, with underlying growth in revenue of +12.7% y-o-y and +10.0% y-o-y underlying growth in gross profit. The underlying gross margin slipped 80bps in the period, reflecting the lack of pricing power given the tough economic environment and customers gravitating to lower-margin products, plus several other cost pressures. Our forecasts had anticipated many of these issues. However, expectations are for another material weakening (c15%) of the Kwacha in FY2020 which we had not anticipated. Our US Dollar forecasts move down commensurately.

Companies: Zambeef Products
  • 13 Dec 19
LIBERUM: Science in Sport* - Too cheap to ignore

SiS’s valuation has fallen from over 2x EV/Sales in 2017 to just 0.8x currently. This is despite the group now consisting of two leading brands with over £20m of sales each, growing at strong double-digit rates, compared to it being just the SiS standalone business previously.

Companies: Science In Sport
  • 23 Dec 19
FY19 in line but Middle East excise duty headwind

Nichols’s trading update signals an in-line FY19 outcome driven by UK market share gains and good international progress. The main news today is the recent 50% excise tax on non-carbonated drinks in Saudi Arabia/UAE. This is a headwind going into FY20 which at this juncture is extremely difficult to quantify given c.80% of in-country sales of Vimto in the Middle East are made during the one month of Ramadan. Our analysis shows a potential c.£2.5-£4m PBT hit. Given the uncertainty we prudently factor in £4m and some UK caution, resulting in a 15% FY20 PBT downgrade (the range is 10- 15% given the unknown impact of the levy). The shares trade on a FY20 P/E of 26x and 17x EV/EBITDA vs a peer group average of 23x/17x. Whilst the short-term Middle East uncertainty is unhelpful, on a 12m view we expect the company to continue outperforming operationally and investors to focus on its superior fundamentals.

Companies: Nichols
  • 14 Jan 20
LIBERUM: Science in Sport* - Trading ahead of expectations - strong BUY

SiS has set itself apart as one of the stand out performers having delivered sales ahead of expectations. Revenues are c.1% ahead of our expectations.

Companies: Science In Sport
  • 24 Jan 20
Q3 not a pretty sight

The group reported an even worse than expected set of Q3 results, leading to the decision to hold off on the previous annual and midterm objectives. There was significant weakness in cognac and the situation was no better for Liqueurs & Spirits. China remains the negative hot spot, and we don’t see any improvement in the short-term.

Companies: Remy Cointreau