Event in Progress:
Discover the latest content that has just been published on Research Tree
LAIQON announced earlier this year to have closed a game changing cooperation with Union Investment. As the new, joint product will be distributed via VR banks, AuM´s are expected to tenfold, elevating sales within the next years. BUY.
Companies: LAIQON AG
NuWays
LAIQON published sound Q2 figures that came in stronger than expected and above previous year´s figures. On top, the company launched the LAIC app that should further fuel AuM growth.
Edison Investment Research is terminating coverage on: • 2G Energy (2GB) • Apontis Pharma (APPH) • Artec technologies (A6T) • Beta Systems (BSSA) • Blue Cap (B7E) • Cyan (CYR) • Consus Real Estate (CC1) • Daldrup & Soehne (4DS) • DATAGROUP (D6H) • Datron (DAR) • Delignit (DLX) • Deutsche Börse (DB1) • Deutsche Grundstücksauktionen (DGR) • Deutsche Rohstoff (DR0) • DVS Technology (DIS) • Edel (EDL) • Ernst Russ (HXCK) • Exasol (EXL) • expert.ai (EXAI/EXSY) • Fashionette (FSNT) • Formycon (FYB)
Edison
In H121, Lloyd Fonds (LF) expanded its assets under management (AUM) within the new core business to €1.97bn (from €1.66bn at end-2020) and it is aiming for €2.4bn by end-2021. While its recent growth was organic, LF continues to search for attractive acquisition targets within the wealth management segment with AUM of at least €1bn. In June 2021, LF launched a c €5m offering of participation rights in LAIC Capital, in the form of blockchain-based tokens, with proceeds expected to assist further
Lloyd Fonds (LF) continues its business repositioning under Strategy 2023/2025 to active portfolio management, expanding its assets under management (AUM) within new core business to €1.9bn as at 26 March 2021 from €1.1bn as at end-June 2020. This exclusively organic growth was driven by a robust managed funds performance and net funds inflow. Management reiterates its guidance to reach €7.0bn in AUM by the end of 2024 and 45% EBITDA margin. Management’s target is underpinned by the H220 EBITDA
Premium
Lloyd Fonds (LF) continues its operational realignment process with Strategy 2023/2025 initiated in FY20. The new business model has been implemented under the Lloyd Liquid Assets segment, with €1.1bn of AUM gathered so far, and management reiterated its target to reach €7bn by 2024. The AI-based portfolio management (LAIC) has been successfully launched, with €15m in AUM raised so far. While the company reported a net loss in H120 results due to continued transformation costs and the COVID-19 c
Lloyd Fonds (LF) continues its operational realignment process with Strategy 2023/2025 kicking off in FY20 – this should help complete its transformation to an active asset manager in the medium term. In 2019 (under the previous plan), LF laid the foundation for its three-pillar structure through acquisitions of Lange Assets & Consulting and SPSW Capital, as well as through the development and implementation of an algorithm, which enables the use of artificial intelligence in the investment proc
Lloyd Fonds (LF) took the first major steps in its transition to an active asset manager by acquiring Lange Assets & Consulting and SPSW Capital announced in H119. Both transactions should be completed in H219, contributing €350m and €650m to LF’s assets under management (AUM), respectively. This would help LF meet its guidance of €1.0bn AUM in two core business segments by end 2019. As part of the deals, LF will acquire tenured fund managers to hold executive positions at LF. Distribution of un
Lloyd Fonds is accelerating its transformation into a leading asset manager in Germany with the proposed acquisition of highly regarded SPSW Capital. This follows the recent sales launch of its new business model, focused on open-end retail funds and targeting assets under management to exceed €5bn by 2023 (€1bn+ in 2019). While repositioning makes financials difficult to assess, this move gives reassurance as growth in assets under management is the stated driver of future earnings.
Change is gathering pace at Lloyd Fonds. In line with its goal to become a leading asset manager in Germany over the medium term, it plans to launch its new business model, focused on open-end retail funds, in Q219. Growth may also be by acquisition (finances are robust) with assets under management targeted to exceed €5bn within five years (€1bn+ in 2019). Management is being further strengthened and strategic divestments are under review. Given likely c €2.5m one-off restructuring costs, curre
There is a new mood of optimism at Lloyd Fonds. After last year’s missed profit forecasts and strategic disagreement, current ambitious restructuring of its business activities and senior management has been welcomed by investors, as evident in the recent successful €4m equity issue. By repositioning towards open-end liquid investment products, Lloyd Fonds seeks to reduce reliance in particular on its core shipping market, which remains very challenging. Pending implementation of these changes (
Lloyd Fonds (LF) is suffering from tough conditions in the shipping markets, lower trusteeship fees due to asset disposals and contract expiries, as well as delays in new projects. Following the recent FY17 guidance downgrade and subsequent sell-off, LF’s shares are trading at a P/E ratio for 2017e of 12.9x, broadly in line with peers. Key stock price drivers include progress updates of LF’s projects in the real estate segment, in particular in government-sponsored housing, as well as the supply
Research Tree provides access to ongoing research coverage, media content and regulatory news on LAIQON AG. We currently have 0 research reports from 3 professional analysts.
Bioventix has published its H1 2024 results to end December 2023, delivering a strong set of interims with continued growth in profitability and free cash flow generation. Revenues grew by 13% to £6.7m with the company’s continued healthy operating margins translating into adjusted EBITDA (ex. share-based payments) growth of 12% to £5.3m. In line with management’s policy of maintaining c.£5m cash on the balance sheet, an interim dividend of 68p was declared (+10%), with net cash at period end of
Companies: Bioventix Plc
Cavendish
Companies: FOG PEB KBT EMR TIME GETB JNEO
The focus of Hardman & Co Research is on the nine quoted Infrastructure Investment Companies (IICs) and on the 22 Renewable Energy Infrastructure Funds (REIFs): the stocks analysed are all members of the Association of Investment Companies (AIC). We are updating our publication of January 2023, assessing both the lacklustre share price performances during 2023 and the key issues, including interest rates, inflation and power prices. As a 31-strong group, its combined market capitalisation is no
Companies: AEIT ROOF DGI9 INPP GSF SEIT USFP HICL ORIT BSIF TRIG NESF SEQI HEIT GRP GCP FSFL 3IN AERI PINT RNEW BBGI GSEO DORE TENT GRID CORD HGEN AEET
Hardman & Co
Companies: FOG TND BVXP ACC HDD
Companies: BILN IGP RBN SBTX
Companies: Inspired PLC
Liberum
Fintel’s 2023 results confirm the group is trading in line with its February update and reveal details of underlying growth, which is meeting management’s growth and profitability targets (see page 2).
Companies: Fintel PLC
Zeus Capital
The shares retreated 23% in response to an expected dip in full year revenue, but the medium-term outlook remains robust. Client decisions to move a number of planned events pushed back c. £2m of projected revenue into H2/FY25. We believe that the investment case remains attractive. AEO is on track to deliver near record H2 revenue and expects to report at least £19m of sales, £0.4m of PTP for FY24. It has completed the first three quarters of FY24, but typically generates c. 50% of annual sales
Companies: Aeorema Communications plc
Allenby Capital
26th March 2024 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object
Companies: BIRD MBH CHRT INSE KMK FNTL HDD JNEO CCS
Hybridan
Companies: BEM SML VRS KOD SBSW KMR SRX EST SVML
SP Angel
Braemar’s FY24 trading update was in line with expectations, with revenues of c £150m and underlying operating profit of c £18m. Underlying operations continue to expand and diversify and the company remains well-positioned to drive its future growth strategy. The trading outlook is promising and Braemar should be able to leverage its strong balance sheet in pursuit of strategic growth. We have maintained our underlying estimates for FY24 and FY25, but edge down the valuation based on the lower
Companies: Braemar PLC
25th March 2024 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object
Companies: JSE RTC GCM GDP ORR AEO I3E
The Hardman & Co Healthcare Index (HHI) has been running since 2009. Its main function is to highlight the attractions of life sciences investments over the long term. For the second year running, apart from global economic influences affecting world markets, performance in 2023 was dented by the capital-intensive nature of the sector. The HHI fell 3.7%, to 483.8, underperforming the main London markets – FTSE 100 (+3.8%) and FTSE All-Share (3.8%) but outperforming the FTSE AIM All-Share Index (
Companies: TXG NDVA TSVT BCOW Z29 TXG NCYT GNS SUN AMS OMG APH EKF EAH IMM AGL DEMG AGY TSTL IPO GDR ETX TRX HVO CTEC AVO OXB DEST VLG IXI VAL INDV AGR AVCT BAI 123F IMCR BCOW
Gym Group has accompanied confirmation of FY23 profit resilience and continued buoyancy (like-for-like revenue up 12% in the first two months of 2024) with a clear commitment ‘to accelerate, not reinvent the wheel.’ The latter is telling with new senior management endorsing Gym Group’s sweet spot as a low-cost operator in the long-term growth market of health and fitness. Its confidence in material scope for enhanced pricing and member acquisition and retention is complemented by expansion targe
Companies: Gym Group Plc
US Solar Fund (USF) is the only North American focussed solar closed-ended investment fund listed on the LSE. USF is a renewables fund which acquires, develops, and operates a portfolio of utility-scale solar power plants that generate electricity, which is sold to high, creditworthy offtakers under long-term power purchase agreements in the US. USF has a diversified portfolio with a total operational capacity of 443MWdc (329MWdc) comprised of 41 solar assets across four states (Utah, North Caro
Companies: US Solar Fund Plc
Share: