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Isabel Schnabel: From laggard to leader? Closing the euro area's technology gap
Survey on credit terms and conditions in euro-denominated securities financing and OTC derivatives markets (SESFOD) - March 2024
Survey on credit terms and
- Survey on credit terms and
conditions in euro-denominated
securities financing and OTC
derivatives markets (SESFOD)
March 2024
The Eurosystem conducts a three-monthly qualitative survey on credit terms and
conditions in euro-denominated securities financing and over-the-counter (OTC)
derivatives markets. - The survey questions are grouped into three sections:
1.counterparty types ? credit terms and conditions for various counterparty
types in both securities financing and OTC derivatives markets;2.
securities financing ? financing conditions for various collateral types;
3.
non-centrally cleared OTC derivatives ? credit terms and conditions for
various derivative types. - The survey focuses on euro-denominated instruments in securities financing and
OTC derivatives markets. - For securities financing, the survey refers to the
euro-denominated securities against which financing is provided, rather than the
currency of the loan. - Reporting institutions should report on their global credit terms, so the survey is
aimed at senior credit officers responsible for maintaining an overview of the
management of credit risks. - SESFOD March 2024
2
March 2024 SESFOD results
(Review period from December 2023 to February 2024)
The March 2024 Survey on credit terms and conditions in euro-denominated
securities financing and OTC derivatives markets (SESFOD) reports qualitative
changes in credit terms between December 2023 and February 2024. - Looking at credit terms and conditions for the various types of non-centrally cleared
OTC derivative, initial margin requirements increased slightly for all derivative types. - Survey respondents reported mostly unchanged conditions as regards the maximum
amount of exposure and the maximum maturity of trades. - Moreover, they reported that the volume of valuation disputes had
declined for all derivative types except credit derivatives. - The survey asked respondents to compare credit terms
and conditions on the cut-off date for the March 2024 survey round (i.e. - Compared with the
previous year, overall terms and conditions for securities financing and OTC
derivatives transactions had eased somewhat across all counterparties, while credit
standards for funding secured against various types of collateral and non-price terms
in OTC derivatives markets were generally tighter. - Credit terms and conditions for various counterparty types in both
securities financing and OTC derivatives markets
Overall credit terms and conditions eased between December 2023 and
February 2024 (Chart A). - The overall easing of conditions masked some
heterogeneity between price and non-price terms, and across different types of
counterparty, though reported changes were relatively small. - Credit terms and conditions for various types of non-centrally
cleared OTC derivative
Initial margin requirements increased slightly for all derivative types. - Meanwhile, they reported
unchanged conditions for credit derivatives referencing sovereigns and commodities,
as well as a slight deterioration for credit derivatives referencing corporates and
structured credit products. - The survey asked respondents to compare the credit terms and conditions observed
on the cut-off date for the March 2024 survey (i.e. - Compared with the previous year, overall terms and conditions for securities
financing and OTC derivatives transactions had eased somewhat across all
counterparties. - Survey respondents reported that non-price credit terms in OTC derivatives
markets had tightened somewhat for almost all types of derivative relative to
the previous year.
EQS-News: ESPG AG: Bondholders' vote approves precautionary covenant waiver and potential bond increase
Cologne, 21 March 2024: The bondholders of the European Science Park Group, a real estate company specialising in science parks, have almost unanimously approved the precautionary covenant waiver and a potential bond increase with a large majority of over 99.9 % in the written voting procedure.
- Cologne, 21 March 2024: The bondholders of the European Science Park Group, a real estate company specialising in science parks, have almost unanimously approved the precautionary covenant waiver and a potential bond increase with a large majority of over 99.9 % in the written voting procedure.
- With their strong support, the bondholders are backing further business development and are providing the Management Board with long-term planning security.
- Ralf Nöcker, Management Board Member of ESPG AG: “We have had an active and constructive dialogue with our creditors in recent weeks.
- The resolutions adopted will be published on the ESPG website today and in the Federal Gazette in the coming days.
EQS-News: Pyrum Innovations AG publishes financial figures for Q4 and preliminary results for the financial year 2023
Sales increased by 17% year-on-year to EUR 1,147 thousand (2022: EUR 982 thousand).
- Sales increased by 17% year-on-year to EUR 1,147 thousand (2022: EUR 982 thousand).
- As a result, total output decreased by 32% year-on-year to EUR 12,934 thousand (2022: EUR 19,069 thousand).
- The Trading Update Q4 2023 of Pyrum Innovations AG is available on the company's website at https://www.pyrum.net/en/investors/financial-publications/ .
- The publication of the final figures and the Annual Report 2023 is scheduled for 16 May 2024.
EQS-News: Fiscal year 2023: RENK Group AG continues profitable growth trajectory
EBIT of RENK Group AG rose to 150 million euros (2022: 144 million euros).
- EBIT of RENK Group AG rose to 150 million euros (2022: 144 million euros).
- "The strong order intake and revenue growth of our segments over the past fiscal year reflect the high demand for our products and technological solutions", explained Susanne Wiegand, CEO of RENK Group AG.
- For fiscal year 2024, RENK Group AG is expecting growth to continue and is confirming its financial forecast.
- The successful stock exchange listing of RENK Group AG on February 7, 2024 laid the groundwork for further international growth.
EQS-News: DISCLOSURE OF THE TOTAL NUMBER OF VOTING RIGHTS AND CAPITAL, IN ACCORDANCE WITH THE LAW AND GRAND-DUCAL REGULATION OF 11 JANUARY 2008 ON TRANSPARENCY REQUIREMENTS FOR ISSUERS, AS AMENDED
DISCLOSURE OF THE TOTAL NUMBER OF VOTING RIGHTS AND CAPITAL, IN ACCORDANCE WITH THE LAW AND GRAND-DUCAL REGULATION OF 11 JANUARY 2008 ON TRANSPARENCY REQUIREMENTS FOR ISSUERS, AS AMENDED
- DISCLOSURE OF THE TOTAL NUMBER OF VOTING RIGHTS AND CAPITAL, IN ACCORDANCE WITH THE LAW AND GRAND-DUCAL REGULATION OF 11 JANUARY 2008 ON TRANSPARENCY REQUIREMENTS FOR ISSUERS, AS AMENDED
The issuer is solely responsible for the content of this announcement. - Total number of voting rights attached to the shares composing the share capital of the notifying issuer, including the suspended voting rights
Total number of voting rights, excluding suspended voting rights (exercisable voting rights) (optional)
Kaufman & Broad SA: 1ST QUARTER 2024 RESULTS
Net cash (c ) : €190.2M vs. € 121.6M
- Net cash (c ) : €190.2M vs. € 121.6M
Financial capacity : €615.3M vs. €542.7M
Main development indicators (end Feb. 2024 vs. end Feb. 2023)
Total backlog : 2,586.1 vs. €2,890.4M
Kaufman & Broad SA today announces its results for the 1st quarter of fiscal 2024 (from December 1st to 29th February 2024). - In the 1st quarter of 2024, housing orders amounted to €252.7M (including VAT), up 7.9% from €234.1M in 2023.
- The take up period [1] was 4.1 months 2024, 1st quarter, down of 2.9 months from 6.9 months in 2023.
- As of the 1st quarter of 2024, Kaufman & Broad had 126 housing programmes in the process of being marketed, representing 1,517 housing units (143 programmes and 2,360 housing units as of the end of February 2023).
EQS-News: ABO Wind reports another record result and growing pipeline
With a net profit of EUR 27.3 million, the ABO Wind Group has exceeded the previous year's record figure of EUR 24.6 million by eleven percent.
- With a net profit of EUR 27.3 million, the ABO Wind Group has exceeded the previous year's record figure of EUR 24.6 million by eleven percent.
- ABO Wind increased its revenue by 29 per cent to 299.7 million euros in 2023.
- As a service provider, ABO Wind generated a revenue of 17.8 million euros in the financial year (previous year: 15.9 million euros, an increase of twelve per cent).
- For example, a French industrial company has just secured the electricity from an ABO Wind solar farm currently under construction.
EQS-News: PATRIZIA Annual Report 2023: Resilient platform but EBITDA impacted by market headwinds - cautious optimism for 2024 with focus on smart real asset investments
PATRIZIA remained an active net buyer with investments signed for clients more than offsetting disposals and redemptions, demonstrating the resilience of the Company’s independent investment platform.
- PATRIZIA remained an active net buyer with investments signed for clients more than offsetting disposals and redemptions, demonstrating the resilience of the Company’s independent investment platform.
- Nevertheless, AUM declined by 3.2% to EUR 57.3bn due to valuation pressure in a challenging market environment.
- PATRIZIA reorganised operations and adapted its business focus to accommodate the lower level of client investments in the second half of 2023.
- PATRIZIA continues to run a solid balance sheet with a net equity ratio of 69.0% and available liquidity of EUR 291.0m.