Zotefoams recently reported a strong set of interim results for H1 ‘21 with the stock at an interesting potential inflection point in our view. Robust industrial markets, aviation recovery from 2020 trough, auto volume recovery in 2022, supply chain challenges now reflected in earnings and low capacity utilisation currently suggest to us that medium term earnings power of the Zotefoams business is materially above current levels. While valuation accounts for some growth, it does not adequately
Companies: Zotefoams plc
2019 Results – Likely Investor concern over debt
US & German manufacturing PMI hits lowest readings since 2009, UK manufacturing PMI heads below 50, BorgWarner expects material financial impact from customer production halts
Companies: AVON CGS HAYD HEAD HILS JHD RNO SCPA TWD TRI ZTF SOM GHH
Japanese PMI falls to lowest level since 2009, GE Aviation cuts 10% of workforce, Kone downgrades 2020 outlook
Companies: CGS HAYD HEAD HILS JHD OXIG RSW RNO TWD ZTF SOM GHH
2019 Summary Results
Airbus secures €15bn credit facility but partially restarts production in France & Spain, Cummins suspends production and FY20 guidance as customers shutdown
Companies: CGS HAYD HEAD HTG OXIG RSW RNO ROR TWD TRI ZTF GHH
German sentiment posts largest fall since 1991, US non-residential construction backlog rose in Jan, Daimler suspends European production for (initial) 2 weeks
Companies: CGS JHD OXIG RSW RNO SCPA TRI ZTF SOM GHH
New York Empire State Manufacturing Index falls to lowest reading since 2009, Boeing reports need for short-term funding as S&P downgrades rating to BBB
Companies: CGS HAYD HILS RNO SCPA TWD TRI ZTF SOM GHH
China's industrial production falls 13.5% y/y across Jan-Feb, UK manufacturing body expects 2.1% fall in output in 2020, Fiat Chrysler & Ferrari suspend production
Companies: CGS HAYD HEAD HTG OXIG RSW RNO SCPA TWD TRI ZTF GHH
India's industrial production rises ahead of estimates in Jan but autos production falls 18% y/y in Feb, Caterpillar dealer stats show 11% y/y fall in sales for Feb
Companies: HILS RSW RNO SCPA TRI ZTF SOM GHH
UK GDP flat in Jan missing estimates, Japan's machine tool orders fall 30% y/y in Feb, Boeing falls 18% yesterday as draws down loan
Companies: CGS HAYD HEAD HILS HTG JHD OXIG RSW RNO ROR SCPA TWD TRI ZTF SOM GHH
German industrial production rose above expectations in Jan, Taiwan's exports rise in Feb but expect March decline, US machine tool orders fall 34% in Jan
Companies: CGS HAYD HEAD HILS HTG JHD OXIG RSW RNO SCPA TWD TRI ZTF GHH
Oil price falls 30%, Chinese exports fall 17% in Jan-Feb, Japan's Q4 GDP revised down to 7% fall, Continental forecasts 2020 decline in global car production
Companies: AVON CGS HAYD HEAD HILS HTG JHD OXIG RSW RNO ROR SCPA TRI ZTF SOM GHH
US ISM manufacturing falls to 50.1 in Feb missing estimates, India's manufacturing PMI falls in Feb to 54.5, US construction spend rises ahead of expectations in Jan
Companies: HAYD HILS OXIG RSW RNO ROR SCPA ZTF GHH
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