ASDA is still being forced to balance margin over volume, with the latest Kantar numbers showing a fall in market share of 80bps (to 13.1%) vs
Read MoreBloomberg are reporting that SocGen were unable to sell its RCF as bids came in lower than its 70% reserve. The movement in the RCF down to the operations does not
Read MoreThe OHLA board recognises that €100m in fresh capital is needed (against current market capitalisation of <€250m). The prize for OHLA would be at least the part release of
Read MoreThe temperature in the Kemble Board room is rising as existing members of the boards of Thames Water (Kemble) Finance and Kemble Water Finance Limited have
Read MoreAltice International and Altice SFR are reporting next Tuesday at 1 pm and 4 pm respectively. There will be a lot to digest on both calls, but specifically at Altice SFR with
Read MoreThe €1bn buyback surprised us as we had expected Morrisons to use the cash to repay Term Loans. We will continue to hold both the SSNs and the SUNs. We are not rushing to
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Le Figaro report on a letter sent to the courts and administrator that a blocking minority of creditors intend to reject the EPEI (Kretinsky)/Attestor offer. EPEI have
Read MoreBouygues, will want to maintain its infrastructure at the forecourts sold by Morrisons. The suit will likely cost Morrisons something to make it go away, but
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A rinse-and-repeat comment on the back of KCA Deutag’s Q1 results as they continue to publish strong numbers. Leverage continues to
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The Company continues to manage its liquidity and significant working capital as it aims to deleverage before a refinancing. Management again mentioned the potential for asset sale to aid debt reduction. Rekeep has rearranged
Read MorePost the AGM, the name change to Viridien has now happened.
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The company reported Q1 2024 financial results yesterday and hosted a call with investors. Upfield missed our topline estimate as we expected growth in the single digit while
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Operationally, the results are in line, but €196m of bank debt repayment has reduced current cash on hand to €145m. The company has affirmed its
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EBITDA margins are improving faster than we expected, driving operating cash flow
Read MoreChristian Fladeland, Heimstaden’s co-CEO, was interviewed for a podcast, where he continued the upbeat tone investors heard on the Q1 conference call. Despite some
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A concise trading statement from Tullow before their AGM today. Tullow are maintaining their cash flow guidance for FY24 and FY25 but production in Q1 was
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CGG had a strong Q1 with Revenue/EBITDA and cash flow all beating our model. The pull to par in the bonds will continue. However, as we have said before, we do
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