Sector reports

Below is a list of sector reports.

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Travel & Leisure

21/07/2016
Consumer: Pubcos: MRO update
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Legislation effective today makes it possible for pub tenants to set aside the traditional drinks tie with pub companies, and instead buy their drinks from cheaper sources. The issue has been in prospect since late 2014 and has been folded into companies’ strategies where relevant, with estate management actions well advanced and active engagement with tenants. These will change the sector in ways that the sponsors of the legislation did not intend. We anticipate less immediate disruption than headlines would suggest, although the inevitable uncertainty comes at exactly the wrong time given the post-Brexit hit to consumer confidence.

Companies mentioned

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Oil & Gas

19/07/2016
Exploration watch - Porcupine Basin: Phase 2 - Independents Day
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Interest in the underexplored Porcupine Basin offshore Ireland remains strong, with a record number of applications received in the recent 2015 Atlantic Margin Irish licensing round. The Phase 1 awards were announced in February 2015 and saw a number of major companies picking up significant positions in the basin, including ExxonMobil and Statoil, both companies with large interests in the analogous Flemish Pass Basin. This update looks at the most recent awards made in June 2016 under Phase 2 of the 2015 round, where 11 licence options were awarded entirely to independent companies including Cairn Energy, Europa Oil & Gas, Petrel Resources and Providence Resources. Meanwhile, a number of substantial 3D seismic surveys are due to be completed over the summer, driven by the majors, which could lead to exploration drilling in 2018/19.

Companies mentioned

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Oil & Gas

27/04/2016
Exploration watch - Porcupine Basin - focus of major interest
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The underexplored Porcupine Basin offshore Ireland attracted 80% of the applications in the recent 2015 Atlantic Margin Irish licensing round, and for the first time saw a significant number of awards going to major companies including ExxonMobil, Statoil, Nexen and BP. The area has become a focus of attention most recently as a result of Statoil’s 300-600mmbbl Bay du Nord discovery in the analogous Flemish Pass Basin offshore Canada, but is also the result of earlier work by a number of independent companies that kicked off a round of data acquisition and saw a marked increase in 3D seismic surveys in 2013. As a result, companies such as Antrim Energy, Europa Oil & Gas, Petrel Resources and Providence Resources hold assets surrounded by major-held licences and are well-positioned to benefit in the ongoing farm-out processes.

Companies mentioned

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Oil & Gas

11/01/2016
Exploration watch - West of Shetland: Space for independents?
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West of Shetland remains the least-developed area of the UKCS despite the first significant discovery occurring there almost 40 years ago. A combination of technical challenges means the region has remained relatively immature, with an estimated 95% of resources yet to be developed. Until recently only three fields, the BP-operated Foinaven/Loyal and Schiehallion, were in production. Joined in early 2016 by Total’s Laggan-Tormore gas field and Premier’s Solan project, only the latter is a notable successful development by an independent to date. However, recent independent activity includes Hurricane Energy’s appraisal of the 207mmboe Lancaster discovery and Chrysaor’s Mustard discovery within tie-back distance of Solan.

Companies mentioned

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Mining

27/11/2015
Gold sector M&A report - Will 2015 pick up in M&A activity be sustained?
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Despite the falling gold price and challenging industry outlook, the gold sector saw a surprising revival in M&A activity in 2015. We believe it was predominantly driven by the sharp depreciation of commodity currencies and the gold price relative outperformance. Our analysis suggests that resource-based valuation multiples have recently approached the peak levels seen in 2011. If commodity currencies remain weak and gold continues to outperform industrial commodities, we believe that the gold sector M&A activity may remain at an elevated level.

Companies mentioned

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*Multiple Sectors

09/11/2015
Deutsches Eigenkapitalforum - EKF conference book 2015
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Welcome to the Edison Conference Book for the Deutsches Eigenkapitalforum 2015. As in past years Edison is delighted to support this event as partner of Deutsche Börse. We are looking forward to three days of engaging discussions between companies, investors and analysts, not only from Germany but all over world. With the creation of its Venture Network, Deutsche Börse has taken an innovative step to enhance the possibilities of Pre-IPO companies to meet potential investors and secure growth funding. As such this initiative is a logical extension of the guiding theme of the Eigenkapitalforum to promote greater engagement between capital seeking companies and investors.

Companies mentioned

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08/10/2015
Mobile Gambling: Injecting new life
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The emergence of the online channel more than 15 years ago saw gambling extend out of casinos, betting shops and bingo clubs and into the home, with seismic effects on the industry. Mobile gambling is beginning to have a similar impact as it opens up the opportunity for players to gamble anywhere, anytime. Growth rates are outstripping those of the broader sector with 30% of mobile revenues estimated to be incremental. Awareness of a new set of commercial, technological and regulatory challenges is vital if investors are to back winners.

Companies mentioned
Show companies...32Red, Gaming Realms, Nektan, Playtech, Rank Group, Stride Gaming, William Hill

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06/09/2015
Edison Talks Tech Conferences - Australia and New Zealand
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Edison will be hosting an exclusive conference connecting listed and private technology companies to investors in New Zealand (on 7 September 2015 ) where we have 12 companies presenting. To accompany the events, Edison has produced a conference book that profiles the presenting companies.

Companies mentioned