For some time now Boparan has been a name with a less than certain refinancing perspective. Promises of improvement have been made and broken and if nothing else, the recent
Read MoreSteinhoff have sold Bensons' for Beds to Alteri. We do not know of the cash price generated, but its' unlikely to be more than a footnote in Steinhoff’s accounts.
Read MoreVallourec’s Q3 results were in line with market expectation and our assumptions were in line for volume and revenue but the expected €20m per quarter of cost savings from announced restructurings either
Read MoreAhead of the results call the outstanding item on the Q4 financials of Boparan is cash.
- Performance has been marginally positive with sales some single digits higher than our model and EBITDA E1.8m higher.
Read MoreThere were two themes to Schmolz’ call today: downturn and CoC.
On downturn:- The company is clearly suffering from what is called the
It isn’t news that Arrow are following the same trend as the majority of the debt purchaser market in doing less of just that. That is because it is not profitable. Debt purchasers are steering their businesses
Read MoreThis is another busy week as far as reporting is concerned. We are planning to listen to:
Read MoreRefinancing done - on to the next steps. Company still aiming to do €2bn of asset sales before May 2021, €1bn of which is achievable without disturbing the
Read MoreSteinhoff are out this morning with a release that in theory should not surprise anyone, but which we certainly have been discounting in the past.
Read MoreOverall the results are stronger than we were expecting.
Results:
Decline in Copaxone and stronger growth in Ajovy helped with both top line and
Read MoreAdient’s Q4 numbers were better than their outlook. However, we seem to have underestimated the speed with which the company has already begun
Read MoreWe hear the bond and TLB have been upsized by E250m. More short term bonds to be
Read MoreCasino launched the tender offer (subject to completion of the €1.5bn bond/Term Loan B fund raising) this morning: Is it false confidence or just getting the ducks in a row?
Under the current financing proposal Casino envisages
Read MoreWe fear this is not the beginning of a new-found sense of creditor friendly frugality, but merely a little pruning around the edges.
Intrum are cutting costs, following their significant
Read MoreNext PLC have been reporting a further slow-down in their Q3 to October 26th. We will stick with our Matalan position and feel somewhat stuck with our New Look position.
Implications:
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