Ahead of publishing its half-year results for the period ending September 2025, Victoria has released a trading statement reaffirming its
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The Q3 Revenue/EBITDA numbers in the Ardagh trading statement are in line with our forecasts; volume growth was -1%. We estimate that
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The company has reiterated its FY guidance of €500m - €600m of asset sales from the commercial portfolio. This would require
Read MoreOh well. We are staying short the Worldine ‘27s today, a position we entered at 86.5c/€ early last month. Clearly, we should have closed out 10 points ago, but
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Q325 revenue lags somewhat behind our expectations, but makes it up in costs. Most segments are on target, but we had expected more from
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Capitalised Assets and R&D Costs of €17,6m added to €45.5m of CapEx = €63m, which does not begin to equate to the
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To line up its CH11 prepack, the company has agreed on a restructuring plan involving a bigger write-off than we had modelled only in
Read MoreAfter shooting an own goal last week, when the company earned the scorn of the NRW traffic minister over tactically dropped service on two
Read MoreFollowing it’s capital increase, Eutelsat has found a new CFO in Sebastien Rouge, a safe pair of Parisian establishment hands with
Read MoreDrax announced this morning that it has entered into a contract with the UK Government to continue operating its biomass
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Flora, Flora’s Q3 results demonstrated slightly stronger resilience than anticipated, with volumes declining by only 0.9%. Gross profit contracted by
Read MoreThe downgrade from S&P reflects the same concerns that Moody’s showed. CEL favours supporting its parent's (Proman's) growth plans over
Read MoreAlthough Tullow does not publish quarterly results, its Ghanaian partner, Kosmos, does, providing a useful read-across. The implications for
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Adler Pelzer slightly beat our expectations with Q325 EBITDA coming in some €5m better than forecast. CapEx remained
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We have commenced our work on Ineos Quattro and intend to publish our views following the release of its third quarter results on 7 November.
Ineos Quattro held a 2-hour conference call yesterday, which can be summarised as follows:
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Keeping the price high has allowed incumbent creditors to keep out more aggressive funds that would be ready to own the
Read MoreThe Holsten Quartier is a very big asset for Adler, and the announcement of a sale should be material news to creditors. However,
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