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 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

aap Implantate

Exploring strategic alternatives to add value

QuickView | Pharmaceutical & healthcare | 17/08/2017

aap Implantate announced its H1 results with a 5% increase in l-f-l sales to €5.4m. This increase was predominantly due to a reported 14% Trauma sales growth in H1 despite Q2 Trauma sales remaining flat versus the previous year’s €2.3m, though still broadly in line with management’s expectations. H1 positives include growth in established markets where aap Implantate has focused initiatives to drive sales (North America +26% and DACH region +10%). Traction in these markets (Europe…

Evolva

Transformation evolving

Update | Food & Drink | 17/08/2017

Evolva is transforming itself into a product-based company, and the new CEO is evaluating the organisational structure and operational strategy. R&D-based revenue is likely to fall due to the transformation. EverSweet remains on track for 2018 launch, nootkatone is on track for US regulatory approval in pest control in H218, and resveratrol revenues were up strongly. Our fair value falls to CHF0.69 as we cut our sales forecasts, but we continue to believe the current share price offers a good…

7digital Group

A good start to the year

Update | Technology | 16/08/2017

7digital’s recent trading update confirmed good progress. H117 revenues increased 13%, with a strong performance from high-margin licence and creative sales. Momentum in monthly recurring revenues and new contract wins, as well as the full impact of the 24-7 acquisition put the group on track for an even stronger second half and add to our confidence in the deliverability of targeted EBITDA profitability in 2018. Given the progress being made, the 3.0x FY18 EBITDA rating looks extremely attractive.

paragon

Automation to drive enhanced returns

Outlook | General Industrials | 16/08/2017

Following a visit to paragon’s expanded Delbrück facility and the successful €50m bond issue, we have revisited and upwardly revised our medium-term growth and margin outlook for the group. With 2016 results having met forecasts despite some timing headwinds and future years underpinned by substantial contract wins across the electromobility division, we believe paragon is on the cusp of further accelerated growth. With proceeds from both the October 2016 capital increase and June…

Celyad

Gaining value on stable disease observations

ADR Update | Pharmaceutical & healthcare | 15/08/2017

The development of Celyad’s natural killer (NK) receptor-based CAR T-cell therapy (NKR-2/CYAD-01) has taken an important step with the initiation of the SHRINK trial, which moves NK CAR T-cell therapy towards the 90%+ of cancer patients who do not have CD19 or BCMA tumors. CYAD-01 is already being tested in THINK with five solid tumor types plus AML and MM. Promising THINK results have been reported at the lowest dose. Celyad has paid $25m in cash and shares to reduce the royalties payable…

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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