Click on headlines below to download research

Emerging from investment phase
EQS Group | 22/08/2019

Management has reiterated FY19 guidance, despite revenue growth at the interim stage being a little below its own expectations. H219 should provide better…

Seven months, seven acquisitions
Mutares | 22/08/2019

Mutares (MUX) specializes in restructuring distressed companies and has been very active in M&A this year, with seven deals announced to date. It has…

Emerging from investment phase
EQS Group | 22/08/2019

Management has reiterated FY19 guidance, despite revenue growth at the interim stage being a little below its own expectations. H219 should provide better…

Building strongly
RCM Beteiligungs | 19/08/2019

RCM Beteiligungs continues to please with H119 PBT of €4.1m comfortably exceeding management’s guidance of an improvement in full-year PBT (€2.9m+).…

Continued growth in AUM
ÖKOWORLD | 19/08/2019

ÖKOWORLD (ÖWAG) has demonstrated over the past months that despite volatile market conditions, it can leverage the positive sentiment towards…

Strong pipeline
Noratis | 16/08/2019

Noratis remains firmly on a growth path. Accelerating development of its asset base (the stock book value was up by over half in H218 at €176m) was…

FDA outcome April 2020; EMA filing in Q419
Paion | 15/08/2019

Assuming a successful FDA review of remimazolam for procedural sedation (PS), with an outcome due by 5 April 2020, Paion is set for 20–25% royalties…

Positive momentum continued in H119
Medigene | 07/08/2019

Medigene continued its positive momentum in H119 announcing a new partnership (Roivant/Cytovant), expansion of its internal pipeline (MDG1021), sale of…

Private/public healthcare fund continues to deliver
HBM Healthcare Investments | 06/08/2019

HBM Healthcare Investments (HBMN) has continued to produce solid NAV and share price performance, buoyed by recent IPOs from its private portfolio (with…

Bitesize briefing - UmweltBank
Bitesize briefing - UmweltBank | 30/07/2019

In this video, Milosz Papst elaborates on UmweltBank's recent capital…

Creating a new real estate investment group
publity | 29/07/2019

publity plans to transfer up to 94.9% of its stake in subsidiary publity Investor (Investor) to PREOS Real Estate (PREOS), a listed real estate investor…

VAR acceleration boosts profitability
Mensch und Maschine Software | 25/07/2019

Mensch und Maschine (M+M) reported H119 revenue growth of 27% year-on-year, of which 20% was organic, and EPS growth of 27%. The Software business revenue…

Staying resolute
Diskus Werke | 11/07/2019

Diskus Werke has countered the disappointment of its September profit warning by clearly exceeding reduced PBT guidance for 2018 (€14.6m vs €14m)…

Strategic review
FinTech Group | 11/07/2019

FY18 was a strong year for FinTech Group (FTG) with healthy 17% growth in revenues and expansion in margins. In recent weeks flatex has launched successfully…

Further ecosystem expansion delayed
The NAGA Group | 10/07/2019

NAGA Group initiated a restructuring process in April 2019 and will now focus on its only profitable product, Naga Trader. For FY19, the company guides…

Transitioning towards sustainable profitability
MagForce | 09/07/2019

MagForce is making progress with its strategy to drive the uptake of its thermal ablation treatment, NanoTherm. It is approved in Europe for brain tumours…

The future is bright, the future is…
Cyan | 03/07/2019

The contract with Orange is another transformative deal that validates both Cyan’s cybersecurity technology and its white label model. Deployment…

Revenue growth is needed from EU roll-out
MagForce | 03/07/2019

MagForce is making progress with its strategy to drive the uptake of its thermal ablation treatment, NanoTherm. It is approved in Europe for brain tumours…

Streaming positivity
Edel | 02/07/2019

Edel’s H119 results to March showed a modest improvement in revenues, which were up 2% on the prior period, and a broadly stable EBITDA and margin.…

Strong delivery
RCM Beteiligungs | 25/06/2019

A flying start to 2019 offers room for surprise as management’s guidance of an improvement in full-year PBT (€2.9m+) has already been secured…

Positioning for growth
artec technologies | 21/06/2019

artec recorded a strong 2018, with revenues doubling to €2.9m and the group returning to a small profit. It received a number of important reference…

Growing digital channels
Pantaflix | 19/06/2019

Pantaflix’s content production business continues to do well, although FY18 earnings were impacted by timing issues, with revenues slipping into…

New assets, new partnerships
Medigene | 19/06/2019

Medigene continues to position itself as a leader in cellular therapies by the expansion of both its internal pipeline (MDG1021) and external partnerships…

Concentrated portfolio offering true differentiation
BB Biotech | 18/06/2019

BB Biotech (BION) has continued the process of refocusing its portfolio on innovative smaller and mid-cap stocks, selling out of bigger names such as Novo…

Consistently expanding the platform
German Startups Group | 17/06/2019

German Startups Group (GSG) continues its transformation from venture capital (VC) investment company into an asset manager and marketplace. The secondary…