Progress at last. Following the guiding words of Rachel Reeves and the company reiterating that the only credible bid in town - currently - is that of
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We are slightly disappointed by this morning’s release of revenue and gross margin, coming in with an EBITDA -10% (£-4m) lower than we had
Read MoreReaffirming our recent observations that the stress experienced in the European real estate market is now firmly behind us, Heimstaden Bostad is issuing a
Read MoreThe bond tender at Ilija Batljan’s personal vehicle doesn’t impact SBB. If investors are bounced into exiting the Hybrids at 20%, Batljan could look to repeat the
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We are buying back our short in the name at par after bleeding away the coupon for too long. The business is surviving the tariff terror in the US, and that
Read MoreThe replacement of Nicole Charrière was expected, although we like that she will be staying on to transfer affairs in order. What we very much welcome, however
Read MoreAtos appointed four senior executives to assist in its operational turnaround, which is required to right-size the business. The four appointments, in various
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Initial reaction is that the numbers are better than we had expected, but regardless, the capital structure is unsustainable and needs restructuring. There are rumours
Read MoreThe succinct message from your favourite debt collector today is as per our commentary: "Intrum has today been informed that
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Incremental news on the Assurimo sale was scant, but within expectations. Overall, the results are fair. We will need to do more work on why Efficity would be
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Rekeep’s Q2 results demonstrate stable revenue with a slight decline in EBITDA, primarily attributable to the domestic facility management segment and
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The Company maintains guidance that EBITDA less capital expenditure will increase for the full year 2025, primarily driven by a reduction in
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Altice International’s Q2 results were broadly mixed; however, the core Portugal segment, which is the largest, showed some signs of improvement. Leverage remains
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We commented on the Q2 results yesterday, but a brief note on the Company’s recent conference call is warranted. Management’s remarks offered
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As the dust is settling, we are most occupied with the idea that a smaller business should succeed in servicing the same interest burden that the
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Results are distorted by the sale of Brack, the NRW portfolio, write-downs and sales of development assets, but we note that despite LfL growth of
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