Key contacts

Klaus Schinkel

Klaus Schinkel
Director, Head of Germany

Regional office - Europe
Schumannstrasse 34b
60325, Frankfurt
Germany
Tel: +49 (0)69 78 8076 960
kschinkel@edisongroup.com

European listed companies

Biotie Therapies Corp Vivalis
NorDiag Thales
Orexo AB Science
Hutchison China MediTech EADS
Global Bioenergies Stallergenes
Core Laboratories Plaza Centers
Outotec Stentys
Albioma Erytech Pharma
Store Electronic Systems SinnerSchrader
Airbus Group Eurotunnel
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Companies with HQs in europe

Ixico IQE
Mondo TV Touchstone Innovations
Skyepharma BTG
Cineworld Topotarget
Acal Lok nStore Group
Randgold Resources Allergy Therapeutics
Safestore Holdings Ormonde Mining
Paion Wilex
Deinove Miton Income Opportunities Trust
TT electronics Advanced Computer Software Group
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Latest research

National Grid

Growth and returns

ADR Outlook | General Industrials | 28/04/2017

National Grid’s high visibility revenues, underwritten by regulatory returns across the UK and US, offer equity holders an attractive combination of asset growth and a 4.3% dividend yield. Both the UK and US businesses are well run. The UK business has predictability of revenues until the end of the current regulatory period in 2021 and is delivering returns ahead of OFGEM’s expected ‘base returns’. In the US, a rate filing programme is underway, which will result in enhanced…

Airbus Group

Q1 turbulence but FY17 ready on the runway

QuickView | Aerospace & Defence | 28/04/2017

Airbus’s Q117 margin was lower than expected, at 1.8% compared to market consensus of 2.5%, mainly due to weaker pricing of old aircraft and higher costs of production for new ones. The helicopter division also made an unexpected loss. However, management confirmed its FY17 guidance and is confident that the challenging production ramp-up is on track.

Akari Therapeutics

Suspension of Coverage

Update | Pharmaceutical & healthcare | 27/04/2017

Whilst following Edison’s normal publication process, which includes a review of a note by a supervisory analyst and a fact checking of the document by the issuer, it has come to light that there were material errors in the last note Edison published on Akari Therapeutics. Edison has withdrawn the last note from circulation and is conducting a review of the coverage. Whilst we undertake this review, the Director of Research has taken the decision to suspend coverage of Akari Therapeutics. Accordingly,…

Expert System

Turning the AI hype into reality

Update | Technology | 27/04/2017

Expert System spent FY16 investing in its corporate structure post the TEMIS acquisition. While this led to a small loss in FY16, it leaves the company better positioned with a unified technology offering and offices established in the key growth markets. New business in H216 confirmed that these changes are starting to have a positive effect. Converting the increasing interest in Expert’s cognitive computing solutions into new business should support strong revenue growth and a return to profitability.

Piteco

Bold entry into the US marketplace

Update | Technology | 26/04/2017

Piteco is buying the principal assets of LendingTools (LT), a small, privately owned US payments software provider, for up to $14.5m in cash. LT operates in the niche area of “correspondent banking”, offering financial institutions an alternative to the Federal Reserve’s FedLine Advantage. The deal provides Piteco with an attractive route into the lucrative US market, which it plans to use to grow its core treasury software solutions. On our updated forecasts, EPS rise by 12-14%…

About

Edison first opened its German office in Berlin in 2011. Now based in Frankfurt, we continue to provide research services to companies listed on mainland European stock exchanges. Companies of all sizes benefit from our research service, which provides the highest standards of equity research and unrivalled distribution of our reports on a global and unrestricted basis.

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