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Enpal and Razor closing new funding rounds
Heliad Equity Partners | 22/03/2023
Heliad Equity Partners (HEP) reported a 3.6% decrease in net asset value (NAV) over the four-month period ending January 2023, bringing the NAV decrease…
On track for a strong FY23
JDC Group | 10/03/2023
JDC Group (JDC) reported preliminary FY22 results that were on the lower side of the guided range for revenues and on the higher end for EBITDA. FY22 revenue…
Further progression of debt reduction plans
paragon | 10/03/2023
paragon has announced the result of the Eurobond tender offer at 60% of nominal, securing just under €1.7m nominal out of a potential €5m.…
Picking growth at good value
BB Biotech | 03/03/2023
According to BB Biotech’s (BION’s) investment team, the biotech industry remains in a very good position. Following a sell-off in the last…
Executive interview
BB Biotech – executive interview | 03/03/2023
In this interview, we speak to Dr Daniel Koller, portfolio manager at BB Biotech (BION), the Swiss-based investment company listed in Switzerland, Germany…
FIFA World Cup affects Bundesliga schedule
Borussia Dortmund | 01/03/2023
Borussia Dortmund’s Q223 results reflect the negative effects of the first time staging of the FIFA World Cup during the football season, offset…
Streaming ahead
CLIQ Digital | 27/02/2023
CLIQ Digital demonstrated another year of strong revenue growth, driven by elevated levels of marketing expenditure in the year. Margins fell slightly…
Further delays in German legislation
EQS Group | 15/02/2023
EQS has issued a year-end trading update, showing that it achieved its targets for number of new customers and for annually recurring revenues. However,…
Robust exit activity in Q123
Deutsche Beteiligungs | 15/02/2023
Deutsche Beteiligungs (DBAG) posted a 7% increase in NAV per share in Q123 (ending 31 December 2022), supported by a €23.9m positive effect related…
Risk reduction should relieve the equity rating
paragon | 10/02/2023
paragon appears to be progressively de-risking its investment proposition. The agreed sale of Semvox crystallises an enterprise value (EV) that highlights…
Progress made against KPIs
CLIQ Digital | 01/02/2023
CLIQ Digital’s FY22 update showed strong year-on-year growth across all KPIs, as it continues to roll out its subscription-based bundled-content…
Recession in Germany unfolding
Deutsche Beteiligungs | 19/12/2022
Deutsche Beteiligungs (DBAG) posted a c 13% NAV decline in total return terms in FY22 (to end-September 2022), affected by lower public equity multiples…
Agreement to sell paragon semvox
paragon | 02/12/2022
paragon has announced that it is to sell its digital assistance business unit, paragon semvox, to CARIAD, the wholly owned software subsidiary of Volkswagen.…
Lower FY22 guidance and estimates
JDC Group | 21/11/2022
JDC Group (JDC) reported Q322 numbers and lowered its guidance for FY22 revenues of €155–165m (previously €165–175m) and EBITDA…
Encouraging start to FY23
Borussia Dortmund | 15/11/2022
Borussia Dortmund’s Q123 results demonstrated the expected recovery in its more variable revenue streams as the club welcomed the return of more…
German whistleblowing law now before year end
EQS Group | 15/11/2022
Progress of whistleblowing legislation through the German Bundestag has been slower than hoped, with transposition now likely in December, with a three-month…
Continuing to execute on strategy
CLIQ Digital | 09/11/2022
CLIQ Digital delivered strong revenue growth and record EBITDA in 9M22, as targeted marketing spend continued to drive the take up of its subscription-based…
Termination of coverage
Termination of coverage - Magforce | 31/10/2022
Edison Investment Research is terminating coverage on Mercia Asset Management (MERC), Bloc Ventures (unlisted), YOC (YOC.DE), Genuit Group (GEN), AlzeCure…
Wind beneath the wings of the team
Borussia Dortmund | 28/10/2022
Borussia Dortmund is one of the most successful football clubs in Europe. It has a consistent record of success in its domestic league, which enables it…
NAV affected by flatexDEGIRO’s de-rating
Heliad Equity Partners | 14/10/2022
Heliad Equity Partners (HEP) posted a 35% decrease in net asset value (NAV) per share during Q222, driven mostly by the 51% stock price decrease of flatexDEGIRO…
Great valuation potential
BB Biotech | 13/09/2022
According to BB Biotech’s (BION) investment team, the biotech industry has never looked in such a good position. Following a sell-off in the last…
Executive interview
BB Biotech - executive interview | 08/09/2022
With the first half of 2022 proving difficult for biotech companies' share prices, we are now seeing a rebound. Daniel Koller gives his views on industry…
Building momentum in Q222
paragon | 30/08/2022
paragon’s Q222 results show an acceleration of revenue growth across the business and, while adjusted EBITDA was modestly lower, management has increased…
Fall in public multiples reduced portfolio value
Deutsche Beteiligungs | 22/08/2022
Deutsche Beteiligungs (DBAG) reported a net loss of €78.3m in 9M22 (ending June 2022), which translated into an 11.7% NAV decline (in total return…
German whistleblowing law set for end Q3
EQS Group | 15/08/2022
The long and frustrating wait for the EU directive on whistleblowing to be passed into law in Germany should finally end in late September and we would…