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Ubisoft Client Call and Presentation are now available on the website.
Ubisoft Client Call and Presentation are now available on the website.

Unisoft Client Call is now available on Ubisoft’s page.

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Martha Felix6 February 2026UBISOFT
Klöckner Pentaplast - comment
Klöckner Pentaplast - comment

The company has held up well enough last year. Q4 financials released in a presentation on Tuesday are right on target, even as we have had to guess our

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Wolfgang Felix5 February 2026KP, KLOCKNER
ASDA - comment

Losing the cheapest supermarket tag to Tesco may be a blip, but it highlights the difficulty of trying to target being 5% to 10% cheaper than

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Aengus McMahon5 February 2026ASDA
AMS Osram - comment

AMS Osram has delivered on its promise, deleveraging the business substantially. Infineon are buying the non-Optical Analog/Mixed-Signal Sensor Business for

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Tomás Mannion4 February 2026AMS, OSRAM
Atalian - comment

The restructuring process has started. Atalian is working with a noteholder group representing more than 50% of the 2028 notes. With the

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Aengus McMahon4 February 2026ATALIAN
OHLA - comment

The signing of the Canalejas deal on time and without last-minute changes is a pleasant surprise from OHLA; although, when announced in

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Aengus McMahon3 February 2026OHLA, OHL
VMEDO2 - comment

Adding Infravia Capital to the group, looking to buy Netomnia points to Telefonica and Liberty bidding for the asset directly and possibly avoiding

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Aengus McMahon3 February 2026VMEDO2
Klöckner Pentaplast - comment

The company announces its completion of the CH11 restructuring. The restructuring had overall resembled expectations of a

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Wolfgang Felix2 February 2026KLOCKNER
Maxeda - comment - Positioning
Maxeda - comment - Positioning

We are hitting first offers this morning at 80c/€, five points above the best offer we are seeing - there will be a little squeeze today. Even so,

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Wolfgang Felix2 February 2026MAXEDA
INEOS Quattro - comment

Ineos Quattro released its Q4 trading statement, confirming the previously rumoured liquidity measures. The group has extended its trade receivables

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Tomás Mannion2 February 2026INEOS QUATTRO
Kem One - comment

Kem One’s existing lenders have provided a further €30m of liquidity support, underlining the company’s ongoing cash burn. Management’s own

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Tomás Mannion2 February 2026KEM ONE
Flora - comment

Flora has completed the refinancing of its senior secured bank facilities, extending maturities to October 2030. Following these

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Tomás Mannion2 February 2026FLORA
Modulaire - comment

Q4 25 Underlying EBITDA of €133m is about at the market consensus, and we expect cash EBITDA to be above the

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Aengus McMahon2 February 2026MODULAIRE
Ubisoft - We're playing for it - Initiation - Positioning
Ubisoft - We're playing for it - Initiation - Positioning

Please find our initiation on Ubisoft here.

It gets interesting when founder management are officially gamers, and in a game they’ve written themselves. It turns out, nobody’s gun is

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Wolfgang Felix2 February 2026UBISOFT
Ardagh Group - comment

The ARD Finance litigation in New York continues; PIK holders are seeking to prevent the Ch 15 filing of ARD Finance. PIK holders are being

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Aengus McMahon30 January 2026ARDAGH
Casino - comment

Having followed Casino for an extended period, we monitor the ongoing developments from afar. The latest is that Jean-Charles Naouri has been

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Tomás Mannion30 January 2026CASINO
Eutelsat - comment

We have written before that we’ve never been fans of the EQT deal, although for a while it seemed that Eutelsat had no other option. Now that it has

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Wolfgang Felix30 January 2026EUTELSAT
ASDA - comment

The mistakes in pay packets were initially revealed in March 2024. The sums involved are small, so ASDA is being magnanimous in settling

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Aengus McMahon30 January 2026ASDA
Ubisoft - coming soon
Martha Felix30 January 2026UBISOFT
Ocado - comment

Underperforming CFCs are being shut as suppliers tweak their delivery models. We are surprised at the low level of compensation being

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Aengus McMahon29 January 2026OCADO
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