Media companies who successfully adopted the digital business model are in a favorable position to leverage on digital sales. Furthermore, the Russia – Ukraine war has significantly increased the media industry’s importance. We believe Ekspress Grupp will reach all its financial targets and foresee a continued good dividend yield.
Media is the place to be Read More »
The NRD Systems and the Novian business area had a challenging 2021, while the Cybersecurity business area posted a record year. This report highlights INVL Technology’s largest business area, Novian.
Cybersecurity going strong Read More »
Despite double-digit Q1/22 inflation, all segments improved their EBIT margin, as prices were increased, and operating expenses were minimized. We expect the Lidl market entry to impact discount chains rather than premium retailers. We raise our estimates and Base case Fair value.
Handling inflation excellently Read More »
While the environmental court case and the Russia – Ukraine war pressures the share price, Grigeo’s operating performance shows resilience. The court hearings are scheduled to start in September. We raise our sales estimates based on expected price increases to clients.
Resilience in challenging times Read More »
Linas Agro’s valuation discount to peers is substantial and we believe it could start to close once we see Grain trading profits and an improvement in the Food segment.
Valuation gap to peers Read More »
The Q4/21 report was better than expected. The share has fallen around 20% this year on RussiaUkraine worries. Even assuming zero cargo flow from Russia, Ukraine, and Belarus, the dividend capability is intact i.e., share price fall seems overdone.
PAX revenues offset Cargo drop Read More »
The announced ownership change is likely to improve growth prospects in the long-term, and the capital structure in the mid-term. The Q4/21 report was above on revenues and in-line on profits. The share trades at a substantial discount to peers.
Significant ownership change Read More »
East West Agro (EWA) is the exclusive Lithuanian distributor of the world renowned tractor brand Massey Ferguson (MF). EWA has established MF as the top tractor brand in Lithuania together with John Deere. After repaying debt, EWA is entering a new era of dividends.
A New Era of Dividends Read More »
War worries have pushed the proposed and estimated dividend net yields to 6%. Meanwhile, the company stands by its IPO plan, underpinned by the Green Generation segment. We re-initiate estimates based on the company’s new strategic plan.
War worries push yield to 6% Read More »
Tragic events such as pandemics and wars increase the demand for quality news and reveal the danger of “fake news”. Ekspress Grupp’s (EEG) 2021 beat expectations as the pandemic elevated the demand for news and the divestment of Print services boosted margins. We forecast double-digit dividend growth in 2022 to 2024.
Demand for news is high Read More »
