The Industrial Revelation

Japanese PMI falls to lowest level since 2009, GE Aviation cuts 10% of workforce, Kone downgrades 2020 outlook

The Industrial Revelation

US building permits fall in Feb missing estimates, Scania to temporarily stop European production from next week, JCB halts production across 9 UK plants

The Industrial Revelation

German sentiment posts largest fall since 1991, US non-residential construction backlog rose in Jan, Daimler suspends European production for (initial) 2 weeks

The Industrial Revelation

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

The Industrial Revelation

US durable goods falls less than expected in Jan, Japan and South Korean industrial production beat Jan estimates, CRH sees growth in US construction markets

The Industrial Revelation

The Industrial Revelation

UK CBI manufacturing orders beat estimates for Feb; Taiwan revises down export growth in Feb due to coronavirus; Japan manufacturing PMI falls

The Industrial Revelation

German GDP stagnates in Q4, BorgWarner expects weak 2020, IPG Photonic cuts Q1 numbers on Coronavirus disruption

The Industrial Revelation

India's industrial production misses estimates in Dec, Taiwan Q4 GDP misses as it cuts 2020 growth, Airbus expects record 2020 deliveries

The Industrial Revelation

UK GDP in line with Dec construction beat but manufacturing miss, Japanese machine tool orders fall 36% y/y in Jan, Boeing nets no orders in Jan

The Industrial Revelation

US machine tool orders rose 24% m/m in Dec, Daimler cuts dividend seeing "slight decrease" in FY20 sales, II-VI saw beginning of Asia industrial recovery in Q4 19

The Industrial Revelation

German factory orders fall in Dec missing estimates; Assa Abloy reports slower organic growth; SKF guides to lower demand in Industrial & Automotive

The Industrial Revelation

Japanese industrial output beats estimates in Dec, BofE cuts growth forecast, VW to buy remaining stake in American truckmaker Navistar

The Industrial Revelation

3M sees early signs of electronics recovery, Paccar expects strong truck demand in Europe, MKS Instruments reports 22% q/q semis growth in Q4, Kone sees stable 2020

Zeus Industrials Round-Up - 13 September 2024

The UK industrial sector continues to show promising signs of recovery, with manufacturing PMI reaching a 26-month high of 52.5 in August as all survey indicators but one expanded. Economic data has also been encouraging, with UK pay growth cooling to a two-year low and inflation rising only slightly in July – supporting the case for further interest rate cuts this year by the BoE.

PANMURE LIBERUM: Commodity snapSHOT: Met-Coal’s evolution, illustrated

PANMURE LIBERUM: Luceco: Interim results highlights top quartile performance

Windar Photonics (WPHO LN) - Scaling up post fund-raise

Following WPHO’s successful £4m April fund-raise, H1 24 results this morning demonstrate continuing rapid scale up, with revenues well ahead YoY and significantly expanded gross margins. WPHO is a leading innovator in the field of wind turbine optimisation with unique IP, has qualified its systems on a meaningful range of turbine platforms globally, and notably in the pre-eminent US market. We are encouraged by signs of good momentum in taking its product to market - 71% YoY revenue growth and a

Invinity Energy Systems - Mistral Recharging

Friday’s trading update highlighted a sharp drop in booked revenue and a changed outlook. Near term, the timing of sales closures causes a shift in revenues to the right. While interest in the company’s flow batteries remains strong, Invinity has also decided to constrict early revenue on Mistral to allow time to complete the planned cost reduction exercise and drive stronger margins in the long term. This will reduce FY 25 revenues and profitability knocking EBITDA breakeven into FY 26. With ca

SP Angel Morning View: Lithium equities rally on reports CATL has shut mining operations

Hybridan Small Cap Feast - 12 September 2024

12th September 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: None Delistings: None What’s baking in the oven? Our daily digest of news from UK Small Caps If you would like to unsubscribe, please email enquiries@hybridan.com with “unsubscribe me”. Hybridan Chefs research@hybridan.com Banquet Buffet*** Andrad

Windar Photonics Initiation of Coverage

Windar Photonics is a leading manufacturer of cost-efficient LiDAR-based wind measurement solutions for the growing global wind-energy industry; enabling wind turbine operators to increase energy production, reduce maintenance costs and lengthen the life of their large (>1.5 MW) wind turbines.

Renold - In-line trading: Acquisition boosts FY26E EPS by 15.9%

The group’s AGM update highlights underlying trading remains in-line with existing expectations. It has also announced the bolt-on acquisition of MAC Chain for $31.4m. This business is expected to be immediately EPS enhancing, boosting the group’s position in targeted forestry CVC chain markets and expanding its western US and Canadian presence. The initial 7.5x acquisition multiple reduces to below 6.0x after the benefit of identified manufacturing and other synergies. We upgrade FY25E EPS by 5

Morning Note – 10 September 2024

LIBERUM: SAS UK SMID Monthly: Should we expect a rally in retail stocks?

PANMURE LIBERUM: Xaar: 1H24 trading in-line: estimates unchanged

PANMURE LIBERUM: Staffline Group: Executing the strategy in a tough environment

PANMURE LIBERUM: Currys: Positive start to the year increases upside risk

Allenby Capital - Transense Technologies - Update

Revenue and adjusted EBITDA are expected to be ahead of our revised forecasts with a strong second half from Translogik and SAWsense (combined revenues up 75% sequentially) and a particularly strong Q4 from the former from new customer wins. iTrack royalty income increased by 30% to £2.6m leading to Group revenues of c.£4.2m and adjusted EBITDA of c.£1.7m, ahead of our forecasts of £4.0m and £1.6m respectively. We are particularly encouraged by the increasing momentum within Translogik and the l