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Reshaping the business
Daldrup & Söhne | 11/10/2019

Daldrup & Söhne (D&S) continues to implement its corporate restructuring programme and in July it sold 49% of Geysir Europe to IKAV. H119…

Prepped and ready to scale
artec technologies | 11/10/2019

After a strong FY18 with a number of reference orders, H119 was slower than anticipated. Management remains confident about FY19 (H2 should be stronger…

Cleaning out
mic | 11/10/2019

H119 has seen a respite from the drastic write-downs of financial assets of recent years (€0.3m against, for example, €3.9m in H218). Even so,…

Improving profitability
CLIQ Digital | 11/10/2019

CLIQ Digital’s half year report shows progress quarter-on-quarter, although gross revenues were 8% down on prior year. Margins are starting to improve…

Long-term commitment, short-term focus
Noratis | 10/10/2019

After significant portfolio expansion in H218 (which is now contributing to rental income), H119 saw several notable and profitable disposals. With EBIT…

Continued business repositioning
Lloyd Fonds | 10/10/2019

Lloyd Fonds (LF) took the first major steps in its transition to an active asset manager by acquiring Lange Assets & Consulting and SPSW Capital announced…

Content and distribution
Pantaflix | 10/10/2019

Pantaflix’s first half results show a marked reduction in the EBITDA loss, from €3.1m in H118 to €1.1m for the period, benefiting from…

Adapting to market conditions
Nanogate | 08/10/2019

Nanogate’s order book of over €600m for delivery during FY19–21, we estimate a third of which relates to the industrial sector, shows…

Fine margins
Borussia Dortmund | 08/10/2019

Borussia Dortmund (BVB) enters the international break with mixed results. A decent season start, notably Supercup triumph vs Bayern and top of its strong…

Backbone of the energy revolution
2G Energy | 04/10/2019

2G Energy continues to diversify its activities by expanding export markets and developing service revenues. This strategy delivered a 14% increase in…

Tough going
DVS TECHNOLOGY | 02/10/2019

A sharply deteriorating machine tool market and procurement cost pressures have driven a reduction of over a third in DVS TECHNOLOGY’s H119 PBT and…

H119 results – FYB201 FDA filing imminent
Formycon | 02/10/2019

Formycon's partner Bioeq IP (Bioeq) plans to file FYB201, a Lucentis biosimilar candidate, to treat neovascular age-related macular degeneration (nAMD)…

Dutch delight
Flatex | 30/09/2019

Flatex (after its online brokerage brand; previously FinTech) reported a 10% y-o-y increase in revenue in H119. Earnings fell 9% y-o-y to €8.6m (ROE…

Streamlining its operations
Ernst Russ | 27/09/2019

Ernst Russ’s (ERAG) strategic process of repositioning to focus on its investor and asset manager activities in the shipping and real estate segments…

Continued project portfolio ramp-up
Consus Real Estate | 26/09/2019

Consus Real Estate has further expanded its project portfolio with four acquisitions of development projects with c €1.2bn of gross development value…

Challenges on the track
Williams Grand Prix | 23/09/2019

H119 results inevitably reflected Williams’ weak finishing position in the Formula One (F1) Constructors’ Championship in 2018. The resultant…

Deposit Solutions becoming a fintech unicorn
FinLab | 19/09/2019

Deposit Solutions, FinLab’s largest fintech holding (which until recently made up nearly 30% of its NAV), has completed a new funding round with…

Steady progress in unfavourable environment
Nurnberger Beteiligungs | 19/09/2019

Nurnberger Beteiligungs (NBG) was able to moderately grow its gross premiums booked on the back of a solid 10% y-o-y increase in new premiums to €266m…

Missing a gear
Delignit | 18/09/2019

After further positive guidance in April, Delignit’s H119 earnings shortfall (EBITDA down 16%) and full-year profit warning are all the more disappointing.…

Executive interview
Noratis | 17/09/2019

In this interview, André Speth (CFO) describes…

Not feeling the broader market recovery (yet)
Scherzer & Co | 17/09/2019

Scherzer & Co’s (PZS’s) NAV closed H119 flat vs end FY18 and declined 3.5% to the end of August. H119 portfolio performance was dominated…

Executive interview - Noratis
Executive interview - Noratis | 16/09/2019

In this interview, André Speth (CFO) describes…

Fighting its corner
DATRON | 16/09/2019

DATRON has accompanied news of 23% lower EBIT in H119 with a full-year profit warning. While the former was not unexpected, given a bumper comparative,…

Continued solid turnover
Deutsche Grundstücksauktionen | 16/09/2019

Deutsche Grundstücksauktionen (DGA) posted robust H119 results (albeit somewhat below the strong H118 levels), despite lower transaction volumes in…

Portfolio clean up under way
Heliad Equity Partners | 16/09/2019

Heliad Equity Partners is repositioning its portfolio following the management changes earlier this year. This involves the gradual disposal of holdings…