The company reported Q1 2024 results which confirmed our negative view. Revenues declined by 10% to €1.04 billion and below our estimate of €1.2 billion as revenues from
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Looks like we have to engage with management to get us white-listed again. We were again culled from the Q&A. The quarter offered little
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Management may state that Altice International is a “completely different entity" to Altice SFR and they look forward to “normalised trading levels”. The reality is
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Headlines are going to focus on restricted versus unrestricted entities, our initial comments are on operations. We had suspected the poor guidance issued
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AroundTown’s Q1 results point to further signs of stability in the European real estate market. AroundTown do not revalue its estate at Q1, but the Company has done some
Read MoreOfwat appears to be becoming more flexible by drawing up plans for a special “recovery regime” for the UK water sector which benefits
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24Q1 revenue and adjusted EBITDA were in line with our modelling. The cap markets day was last week, and management gave a steer for today’s figures, so there were
Read MoreEscape forward. Intrum and Cerberus are emerging victorious in the battle for Zolva’s €6bn of Spanish and another €bn of Norwegian assets. Cerberus and
Read MoreSBB has SEK14bn of bank debt and SEK9bn of bond debt due by January 2025. The SEK5.7bn cash inflow is welcome for SBB and raises balance sheet cash
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We are disappointed this morning that the 2LNs are unable to take out the vast 1L and 1.5L financing ahead of them. The transaction also leaves €2.3bn
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The results were below our forecasts, and despite reiterating FY guidance Atalian will need to work hard on pass-throughs over the rest of the
Read MoreThe private market is frothier than the bond market. Intrum, SBB, DoValue are only the latest examples this weekend where asset-based
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The disruption caused by the three-day strike at two (of seven) Morrisons Distribution centres will only have a small impact on results. Even if the
Read MoreASDA needs to separate its IT systems (including payroll) from Walmart. It is pretty much a given that no major IT project is entirely smooth so some
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OHLA’s operational results were less crucial than the €200m needed to repay bonds in March 2025. The maturity either requires executing something from
Read MoreTrying to hoover up former Getir/Gorillas customers may give a boost to
Read MoreIn a parallel move along with the announcement of the general election in the UK, Ofwat announced that the decision to approve the new business plan submitted by
Read MoreGerresheimer, the German packaging group today announced the acquisition of Italian packaging group - Bormioli Pharma for €800 million or a
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