Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on REVOLYMER PLC. We currently have 30 research reports from 2 professional analysts.
|10Feb17 07:00||RNS||Holding(s) in Company|
|01Feb17 13:33||RNS||Total Voting Rights|
|27Jan17 11:53||RNS||Joint development agreement with AkzoNobel|
|23Jan17 07:00||RNS||Exclusive Supply & Marketing Agreement with Croda|
|09Jan17 07:00||RNS||Block listing Interim Review|
|03Jan17 07:00||RNS||Change of Adviser|
|30Dec16 09:22||RNS||Directorate Change|
Frequency of research reports
Research reports on
N+1 Singer - Morning Song 30-01-2017
30 Jan 17
ATTRAQT Group (ATQT LN) Reverse takeover of Fredhopper, £28.5m Firm Placing and Open Offer | Conviviality (CVR LN) Delivering against strategy | Murgitroyd Group (MUR LN) Recovery in prospect after H1 setback | Realm Therapeutics (RLM LN) IND filing for lead atopic dermatitis programme | Renishaw (RSW LN) H1 results in line; backdrop more supportive | Revolymer (REVO LN) Joint development agreement with Akzo Nobel | SDL (SDL LN) Fredhopper cash disposal for £25m | Waterman Group (WTM LN) Positive trading update confirms in line H1 performance
N+1 Singer - Revolymer - Global supply and joint marketing agreement with Croda
23 Jan 17
Itaconix, Revolymer’s recent US acquisition, has signed an exclusive global supply and joint marketing agreement with Croda in respect of its polymer-based odour removal additive ZINADOR. Croda is advancing ZINADOR after a successful period of joint customer development. The supply agreement is expected to generate revenue for Revolymer in 2017 and we see scope for this to build meaningfully thereafter. In our view, Croda’s strength in ZINADOR’s target markets makes it an ideal partner. The agreement also represents a great endorsement of Itaconix’ technology only a few months after Revolymer acquired the business. In our view, the Group is well positioned to deliver further commercial progress as 2017 progresses. We will formally initiate coverage in due course.
A Quarterly look at UK Healthcare
02 Nov 16
Today we publish PG:GP (Panmure Gordon: Growth Prospects), our first quarterly take on the healthcare sector. We see current macro volatility providing a strong backdrop for the more naturally defensive healthcare stocks which are underpinned by solid fundamental drivers. The run-up to the US Presidential election has repeatedly reminded us that pharmaceutical pricing is one of Hilary Clinton’s main targets, and whatever the result, we see a see greater emphasis on outcomes-based pricing and reimbursement as a major influence for the future. In the UK, concerns voiced by the pharma majors over use of new drugs in the UK post Brexit may encourage adoption of some of the recommendations published last week in the UK Government’s final report on the Accelerated Access Review.
Panmure Morning Note 22-09-2016
22 Sep 16
Interims this morning focus, naturally, on the events that will underpin the shape of the business both now and over the longer-term: the acquisition of Itaconix and the divestment of the nicotine gum business to Alkalon A/S (see our notes of 19 August and 19 September respectively).
What a Treatt
18 Jan 17
Treatt is steadily transforming itself from a seller of flavour and fragrance-based commodities to a value-added ingredients supplier. The strategy of deep customer knowledge is paying off, leading to stronger relationships, a real competitive advantage and greater profitability, with EBIT margins increasing from 9.6% in 2014 to 10.8% in 2016. Management has delivered four consecutive years of earnings above expectations and the momentum remains strong. Our DCF analysis calculates a fair value of 293p, supported by benchmark analysis that places the stock at a c 30% discount to its peer group.
Small Cap Breakfast
16 Feb 17
Saffron Energy—Schedule One update. Raising £2.5m, expected Mkt Cap £7.7m. Admission due 24 Feb. Italian Oil & Gas Play Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb. Arix Bioscience — Intention to float on the main market from the global healthcare and life science Company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management
Suffering CropScience, operating CF’s tide is high
22 Feb 17
Bayer reported +2% (organic: +4%) higher sales at €46,769m and the gross profit margin improved from 54.4% to 56.6% in 2016. EBITDA rose +13% to €10,785m and net profit attributable to shareholders came in at €4,531m, up by +10%. Operating CF (+32% to €9,089m) benefited from the good operating basis and higher D/A (+12%), but the significantly lower NWC outflow (€-149m after €-817m) and the contribution from discontinued operations (Diabetes Care and CS Consumer) were the afterburner. Investing CF reflects the company’s willingness to hoard cash for the Monsanto takeover as it moved from €-2,762m to €-8,729m, primarily due to the outflows for current financial assets (€-5,645m after €-344m). Financing CF (€-350m after €-3,974m) saw a strong inflow from capital contributions and lower net gross debt repayments (€-730m after €-2,929m). Management will propose a +8% higher dividend of €2.70 (€2.50) per share at the AGM on 28 April 2017. Management gave a detailed 2017 guidance and expects sales to increase to over €49bn. EBITDA before one-offs is seen to increase by a mid single-digit percentage and core earnings per share from continuing operations by a mid single-digit percentage as well.
Continued progress since interims
01 Feb 17
Carclo has announced that H217 trading remains strong and the outlook for the full year is in line with its expectations. Growth is being driven by the two larger divisions, Technical Plastics (TP) and LED Technologies, while the Aerospace division is experiencing stable trading conditions. We leave our estimates unchanged, but note potential currency upside should foreign exchange rates remain at current levels for the remainder of FY17.
29 Nov 16
The prospect of Hilary Clinton creating an oversight panel with the power to impose a set of harsh enforcement rules to control aggressive pricing of pharmaceuticals in the US fell away with the election of Trump, leading to a 16% bounce in the NASDAQ Biotech index and an 8% increase in the US Pharma & Biotech index, some of which has already been given back.
Still solid, but not perfect in an unadjusted, real world
23 Feb 17
Henkel increased sales by +4% (organic: +3%) to €18,714m, the gross profit margin weakened 30bp to 47.9% in 2016. EBITDA moved up +8% to €3,345m and net profit attributable to shareholders came in at €2,053m, +7% higher. Operating CF strongly increased +20% to €2,850m seeing a higher operating basis and a stronger NWC inflow (€281m after €20) due to higher payables as well as other liabilities and provisions. Investing CF (€-4,250m after €-893m) was clearly impacted by acquisition-related costs (€-3,727m after €-322m) for e.g. Sun Products. Financing CF swung from €-1,555m to €1,678m primarily due to the financing measures in the context of the large acquisition, which had been fully debt and cash financed as net gross debt repayment of €-1,025m swung to net gross debt issuance of €2,740m. Management proposes a +10% higher dividend of €1.60 (€1.45) per share at the AGM on 6 April 2017. For 2017, management expects organic sales growth of 2-4% with all divisions in this range, an adjusted EBIT of >17.0% and an adjusted EPS growth of 7-9%.