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DP DHL posted a strong Q1 result, beating consensus across the board. This performance was supported by solid B2B business globally even as B2C volumes normalised during the quarter. The growth in EBIT came from Freight & Forwarding and Supply Chain, Express was flat, whereas the EBIT declined in eCommerce and Post & Parcel. FCF came in at last year’s levels. Going forward, the group expects normalisation to begin in Q4 2022. The outlook for FY22 remains unchanged.
Companies: Deutsche Post AG
DPDHL released a strong set of FY21 results, which were above consensus on revenues and FCF but in line on EBIT. In Q4, the group saw B2B and B2C demand reach pre-pandemic levels. Overall, all divisions recorded an increase in revenues and EBIT. FCF generation was above the group’s guidance and the group will propose a dividend of €1.80. DPDHL’s outlook for FY22 and the medium-term was above our estimates. Despite negligible direct exposure, uncertainties regarding the Russia-Ukraine conflict re
DPDHL continued to impress with another good set of quarterly numbers. This was driven by an increase in global trade, and good demand from both B2B and B2C logistics. Despite the reopening of economies, volumes in eCommerce have stayed strong. On the back of these trends, all but one division recorded growth in profitability. Consequently, the group has raised its FY21 and mid-term guidance again, which surpasses our expectations. We reiterate that 2021 will be an excellent year.
DPDHL posted another impressive set of results helped by the continued recovery in global trade along with sustained demand for e-commerce. B2B business also showed strong traction despite challenging conditions in the air and ocean freight markets. All divisions registered strong growth and lofty margins driven by high volumes as well as favourable price dynamics. The ongoing shfit towards digitalisation also aided margins. After such a strong first half, the group raised its 2021 and 2023 outl
DP DHL reported an excellent set of figures in Q1. A recovery in air and sea freight volumes, robust demand in B2C eCommerce activities and an ongoing recovery in the B2B business led to such an outstanding quarter. All divisions recorded a jump in profits on the back of high margins. Given such a strong result, the group revised upwards its FY21 guidance, which was also above expectations. We expect 2021 to be a strong year for the group.
DP DHL confirmed its strong preliminary Q4 and FY20 results today. The group exceeded its own re-raised guidance targets on the back of sustained momentum from eCommerce. As a result, both DHL Express and eCommerce Solutions registered solid growth. Other divisions, too, did well, except for Supply Chain solutions, which saw some recovery in Q4. The group generated record FCF in FY20 and will propose a dividend of €1.35. Moreover, the group will also launch a €1bn share buy-back programme.
Deutsche Post DHL confirmed its positive preliminary figures in its Q3 release today. Favourable business developments in Parcel, Express and e-Commerce Solutions enabled the group to register good growth in revenues and even better growth in EBIT. Additionally, the group not only confirmed its increased guidance but raised its FCF expectations even further.
DPDHL posted its final Q2 20 results. Management confirmed the new FY20 outlook unveiled a month ago and kept its 2022 guidance unchanged.
DPDHL reported a good set of FY19 results, with figures broadly in line with expectations in all lines. Both Express and P&P were the main growth drivers. A good surprise was in the dividend proposal of €1.25, reflecting a payout ratio of 59% (dividend yield of 5.5%). 2020 guidance was reaffirmed, but does not include any impact from the COVID-19, which looks like being too optimistic; the main reason is the complexity of quantifying it at this stage.
DPDHL reported a very good set of Q3 figures, with notably a solid organic revenue of 3.7% despite the challenging environment. This performance was driven by Express and P&P which benefited from the price hike in mail activities since July. Management confirmed its full-year guidance. We confirm our positive opinion on the stock.
As part of its Capital Markets Day, DPDHL presented its new plan called Strategy 2025 with new 2022 guidance and long-term divisional targets. We consider the 2022 targets are conservative, especially regarding the EBIT guidance based “on a cautious macro scenario”. The market reacted negatively as this clearly reflects slower EBIT growth between 2020 and 2020. The transformation is underway and appears to be on track. Patience is required. Buy rating confirmed.
DP DHL reported a good set of Q2 results. All divisions contributed to organic growth which has strengthened management’s confidence. With more clarity on the mail pricing regime, the management has now tightened the EBIT guidance for the full year. The productivity measures implemented by DP DHL are on track.
DP DHL reported Q1 results in line with expectations. The strong EBIT level was boosted by the recent supply chain deal and therefore, adjusted for this, profitability would have been much lower. The Express business is the growth driver for DP DHL, but it is also the most exposed to an economic downturn and/or political tensions. DP DHL is on track to be back in the race, but it is too early to say that headwinds are behind.
DP DHL reported encouraging results roughly in line with consensus expectations. Once again, the good performance was driven by the Express activities while PeP continues to drag due to the ongoing restructuring measures but, they are on track with significant progress in all three pillars, i.e. pricing measures, direct (productivity) and indirect cost (restructuring). The outlook for 2019 is relatively cautious but, in line with our estimates. DP DHL remains a quality stock, in our view, though
Q3 key highlights:
Revenue increased +1.4% to €14.8bn, thanks to all divisions
The EBITDA margin stood at 8.2%, while the EBIT margin declined to 2.5% (-320bp)
FCF declined due to higher capex (excluding leases assets)
2018 and 2020 guidance confirmed
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Volex has delivered final results that are ahead of expectation. Organic revenue growth of 19% reflects growing customer demand, alongside a particularly strong performance in EV which saw sales almost double. The Group has demonstrated its ability to manage both supply chain challenges and inflationary cost increases, albeit with a short time lag. Recent acquisitions have integrated well, building exposure to attractive higher growth market segments. The Group’s global footprint has resonated w
Companies: Volex plc
Singer Capital Markets
Weekly round-up of AIM-listed healthcare news.
Venture Life Group, GENinCode, Kromek, Alliance Pharma, Polarean Imaging, Benchmark Holdings, Ondine Biomedical, Verici Dx, Faron Pharmaceuticals, Avacta Group, Abingdon Health, Open Orphan, Belluscura, Hutchmed (China), Oxford Biodynamics
Companies: ANIC RUA CREO GENI HEIQ IHC IXI IUG OPTI SBTX VAL VLG
Companies: ITM Power PLC
Companies: DX (Group) Plc
SIMEC Atlantis’ full year statement and in particular its going concern statement show that financial risks remain following the decision not to proceed with the Uskmouth conversion. Yet the company has created a path through these risks with the creation of the 240MW Uskmouth battery project and further opportunities at the MeyGen tidal stream project. With MeyGen seeing the immediate benefit of an additional turbine in the water we see the current year as being a better one for the company.
Companies: SIMEC Atlantis Energy Ltd.
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Raven Property Group has left the Main Market.
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Immediate acquisitions (IME.L) is to re-join AIM via a Reverse Takeover of Fiinu Holdings Limited. Once complete the Company is proposing to change its name to Fiinu Group plc. Fiinu intends to be a provider of a consumer banking product, the Plugin Overdraft ®, which is designed to provide customers with an overdraft facility without having to change their current account or req
Companies: TRB CWR CCS DMTR EMAN GTC JSE KIBO MDZ SYM
SYM has announced an exclusive supply agreement for its d2p (designed-to-protect) antimicrobial technology with a major customer. Grupo Bimbo (NASDAQ: BIMBOA) is one of the largest bread manufacturers globally. The company has conducted extensive trials of d2p for its plastic bread packaging, with the aim of extending the life of products, improving hygiene, and reducing waste. The company has asked SYM to supply d2p for its nominated bread packaging manufacturers across the American continent f
Companies: Symphony Environmental Technologies plc
ATOME’s trading update shows capacity expansion in Paraguay and good progress across the portfolio. The new capacity adds 50MW to take the Itaipu project to 300MW and increases our central case valuation to 183p from 173p.
Companies: Atome Energy PLC
Oil posted its first back-to-back weekly loss since early April as fears of a demand-sapping global recession and tighter US monetary policy ripped through commodity markets to spur a broad sell-off.
West Texas Intermediate fell 1.7% for the week to settle at $107.62. US Federal Reserve Chair Jerome Powell's hawkish testimony to Congress earlier in the week overshadowed a fundamentally tight market.
Prices clawed back some of the week's losses Friday as the University of Michigan's final June
Companies: FO 88E CHAR DEC EME GTC TRIN WEN
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What’s cooking in the IPO kitchen?
Immediate acquisitions (IME.L) is to re-join AIM via a Reverse Takeover of Fiinu Holdings Limited. Once complete the Company is proposing to change its name to Fiinu Group plc. Fiinu intends to be a provider of a consumer banking product, the Plugin Overdraft ®, which is designed to provide customers with an overdraft facility without having to change their current account or request an overdraft from their
Companies: SYM AXL BEG CBOX CASP ING NTBR
For the year to 31 March 2022, Supreme PLC reported revenue of £130.8m, +7.0%YoY, gross profit of £38.5m, +16.6%YoY, and EBITDA (adj.) of £21.1m, +9.3%YoY. The contribution to total revenue from Vaping dominated at 33.3%, with Sports Nutrition and Wellness rising from 5.6% to 12.2%. Year-end net debt was £4.0m, with a proposed full year dividend of 6.0p/share.
FY22 performance was within 1.0% variance of our estimates. During the year the Group noted: the addition of new vaping contracts with
Companies: Supreme PLC
Oil rose in thin trading ahead of the US holiday weekend as export disruptions in Libya exacerbated global supply concerns. West Texas Intermediate rose over $108 a barrel, posting a slight weekly gain after dropping the previous two weeks. Production from the Organisation of Petroleum Exporting Countries dropped by 120,000 barrels a day in June for a second straight monthly decline, according to a Bloomberg survey. Libyan exports have fallen to about one-third of last year's level after a worse
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Tungsten Corp and Sensyne Health have both left AIM. Hibernia REIT has left the Main Market.
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Visum Technologies seeking admission to The AQSE Growth Market. The Company's business is to own and operate an "on-ride" video and photographic camera system that it sells and/or licenses to customers (being theme parks, ride manufacturers, souvenir imaging providers, and other leisure operators). Due 30 June.
LifeSafe Holdings, a fi
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