EPS

Hardman & Co Research on The International Stock Exchange (TISE): Very strong full-year performance

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星期三, 四月 10, 2024

The International Stock Exchange (TISE) had a very good year in 2023, with revenue up 9% to £10.8m and fully diluted EPS +18% to 170p, against a continued backdrop of subdued financial markets.

Key Points: 
  • The International Stock Exchange (TISE) had a very good year in 2023, with revenue up 9% to £10.8m and fully diluted EPS +18% to 170p, against a continued backdrop of subdued financial markets.
  • The performance, once again, demonstrates the resilience of the business with the strength of the repeating annual listing fees; since 2020, it has now paid out more in dividends than its then share price (650p).
  • Our forecasts are largely unchanged, but we have raised our valuation range and added some 2025 projections.
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Hardman & Co Research on Arbuthnot Banking Group (ARBB): 2023 - delivering strategy with strong profit growth

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星期三, 四月 10, 2024

The saying goes, the proof of the pudding is in the eating.

Key Points: 
  • The saying goes, the proof of the pudding is in the eating.
  • ABG’s 2023 results proved that the strategic positioning of the group, as a relationship bank, has created enormous value.
  • Customer deposits grew 21% to £3.8bn, loans by 6% to £2.3bn and FUM by 29% to £1.71bn.
  • Please click on the link below for the full report:
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EQS-News: ENCAVIS AG again surpasses its guidance with its Consolidated Financial Statements 2023 – Operating Cash Flow 2023 influenced by non-recurring effects

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星期三, 四月 10, 2024

All financial key figures for 2023, except for operating cash flow, exceed the guidance, even if – with the exception of EPS – they are below the extraordinary high figures for the exceptional year 2022.

Key Points: 
  • All financial key figures for 2023, except for operating cash flow, exceed the guidance, even if – with the exception of EPS – they are below the extraordinary high figures for the exceptional year 2022.
  • A further EUR 12.4 million from the sale of individual assets was not recorded in the operating cash flow but in the cash flow from investing activities.
  • The Group expects operating cash flow of EUR 260 million (2023: EUR 234.9 million).
  • The operating cash flow per share is therefore expected to amount to EUR 1.62 (2023: EUR 1.46).

CGSI Reiterates “Buy” Rating on Modern Dental (03600HK), Ups Target Price to HK$5.88

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星期三, 四月 10, 2024

In a recent report by CGS International, they have reaffirmed the “Buy” rating on Modern Dental (03600HK), raised the target price to HK$5.88.

Key Points: 
  • In a recent report by CGS International, they have reaffirmed the “Buy” rating on Modern Dental (03600HK), raised the target price to HK$5.88.
  • Modern Dental increased its production capacity by over 50% in FY22-23 by expanding capacity of its Dongguan laboratory and setting up new facilities in Vietnam.
  • Due to enhanced production capability, CGSI believes Modern Dental should improve production efficiency and decrease product costs in FY24F.
  • The target price increased to HK$5.88 based on 10x CY25F P/E, reiterated “Add” on Modern Dental.

Edison issues initiation on Altron (AEL): Rising star

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星期三, 四月 10, 2024

Altron is a South African-based provider of platforms and IT services, helping businesses transform and operate their IT.

Key Points: 
  • Altron is a South African-based provider of platforms and IT services, helping businesses transform and operate their IT.
  • As part of the plan to refocus on strategic growth opportunities and to improve profitability, management has set ambitious medium-term profit targets.
  • The group has made good progress to date, and we forecast a headline EPS CAGR of 21% from FY23 to FY26e.
  • After a 30% holding company/South Africa discount, we arrive at a valuation of ZAR21.0 per share, 84% above the current share price.

EQS-News: United Internet with successful fiscal year 2023

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星期三, 四月 10, 2024

United Internet AG can look back on a successful fiscal year 2023.

Key Points: 
  • United Internet AG can look back on a successful fiscal year 2023.
  • Valuation effects from derivatives amounted to EUR -0.5 million in the prior-year period and EUR -6.3 million in the fiscal year 2023.
  • In an ad-hoc announcement on December 19, 2023, United Internet AG announced its guidance for the fiscal year 2024.
  • After concluding its fiscal year 2023, United Internet is now confirming this guidance and expects an increase in consolidated sales to approx.

EQS-News: JOST closes fiscal year 2023 successfully and proposes a dividend of EUR 1.50 per share

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星期三, 四月 10, 2024

Consolidated sales declined slightly in 2023 by 1.2% to EUR 1,249.7 million year-over-year (2022: EUR 1,264.6 million).

Key Points: 
  • Consolidated sales declined slightly in 2023 by 1.2% to EUR 1,249.7 million year-over-year (2022: EUR 1,264.6 million).
  • As a result, adjusted EBIT rose by 13.7% to EUR 140.8 million in fiscal year 2023, strongly outpacing sales (2022: EUR 123.8 million).
  • The net financial result declined by EUR 12.7 million to EUR -21.3 million in 2023 (2022: EUR -8.6 million).
  • JOST strongly increased its free cash flow to EUR +112.3 million in 2023 compared to 2022 (2022: EUR +23.7 million).

EQS-News: 1&1 with successful fiscal year 2023

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星期三, 四月 10, 2024

Revenue rose in 2023 by 3.4 percent to €4,096.7 million (2022: €3,963.7 million).

Key Points: 
  • Revenue rose in 2023 by 3.4 percent to €4,096.7 million (2022: €3,963.7 million).
  • EBITDA 2023 (earnings before interest, taxes, depreciation and amortisation) at €653.8 million (2022: €693.3) is in line with the company's forecast.
  • EBIT amounted to €455.8 million (2022: €534.9 million) in 2023, as expected 14.8 percent below previous year's figure.
  • Assuming 176.3 million shares entitled to dividend (as per 31/12/2022), this would result in a total disbursement of €8.8 million for fiscal 2022.

EQS-News: ecotel communication ag: Growth in all segments – B2B business pick-ing up considerably

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星期三, 四月 10, 2024

The 2023 financial year was overall very positive for ecotel, with the company achieving its forecasts and even exceeding them in some cases.

Key Points: 
  • The 2023 financial year was overall very positive for ecotel, with the company achieving its forecasts and even exceeding them in some cases.
  • Having declined for several years due to transformation-related factors, revenues in the ecotel Business Customers segment increased to € 46.2 million in the 2023 financial year (previous year: € 45.6 million).
  • Revenues in the ecotel Wholesale segment increased significantly by € 13.6 million to € 60.1 million in the 2023 financial year.
  • As a result of this sales growth, the gross profit rose by € 0.7 million to € 1.9 million.

EQS-News: Mensch und Maschine Software SE presenting Annual Report 2023

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星期三, 四月 10, 2024

Wessling, March 14, 2024 – Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM/BIM specialist company, today presents its Annual Report 2023, describing how M+M achieved new record levels for sales, earnings and cash flow despite inflationary headwinds and high volatility in the Autodesk business.

Key Points: 
  • Wessling, March 14, 2024 – Mensch und Maschine Software SE (MUM - ISIN DE0006580806), a CAD/CAM/BIM specialist company, today presents its Annual Report 2023, describing how M+M achieved new record levels for sales, earnings and cash flow despite inflationary headwinds and high volatility in the Autodesk business.
  • The absolute highlight, however, was the operating cash flow, which came in even better than previously reported at +30% to EUR 50.59 mln or 302 Cents/share.
  • For 2025 we expect a stronger growth of +12-25% in EPS and are planning +25-35 Cents more in dividends."
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