Top-News
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Guidance hike amid improved Q4 cost structure; Chg.
Topic: Yesterday, DEMIRE upgraded its FY25 outlook following postponed disposals and stronger cost discipline. The shift of planned transactions into 2026 leads to a higher-​than-...
03.12.25
Opportunity engine; INITIATE with BUY
Steyr Motors is a rare pure-play in defence-​grade diesel propulsion , combining a patented monoblock engine architecture with a small-​series production model that delivers ...
03.12.25
FY24/25e to come in as expected // FY25/26 with growth; chg.
Following recent conference attendances, we are under the impression that Hoenle is well on track to reach its current FY guidance and gradually gain traction across several new ...
01.12.25
INDUS' deal activity likely to accelerate; BUY
INDUS surprised investors with a small note in Q3 2025 results , hinting that further M&A activities in Q4 2025 could be possible after fulfilling expectations in terms of deal count ...
01.12.25
Strong ESA budget increase at OHB's sweet spots
Last week, the ESA ministerial conference decided on a sharp increase of the European civil space budget for the next three years. Here are our key takeaways for OHB: The ESA ...
28.11.25
Decision reached: no 3rd runway, higher dividend likely
On Tuesday, FWAG decided against building the 3rd runway, as a result of a comprehensive cost-​benefit analysis . In detail: Decision to abandon plans for a third runway does not ...
28.11.25
Designed for growth: entering the next chapter
Following years of post-​covid normalization, WEW is back on a self-​induced growth path, independent of the consumer sentiment. With this multi-​pager we dive deeper into this ...
24.11.25
Q3 in line with expectations, margins remains solid
Nabaltec reported Q3 figures that were largely inline with our estimates and the company’s FY25 guidance. Overall, demand remains subdued while capacity expansions temporarily ...
21.11.25
Weak demand weighs on growth; Chg.
Yesterday, NFON released its Q3 report, which clearly reflects the increasingly challenging environment in the European ICT market, visible in soft top-line momentum and margin ...
21.11.25
Develop. De-risk. Deliver // Initiate EPH with BUY
Founded in 2023 and headquartered in Vienna, EPH Group AG (EPH) is a newly established hospitality real estate developer focused on the DACH region. Hereby, the company is ...
19.11.25
Bittium's expertise shines amid Bundeswehr radio woes
In our initiation earlier this month, we highlighted Bittium’s exceptional know-how in military-​grade radio technology , leveraging a 40-year long legacy in secure wireless ...
19.11.25
Q3 review: sound results and strong October traffic
Topic: Yesterday, FWAG reported a solid set of Q3 results, in line with our estimates as well as consensus. On the back of a 2.9% yoy higher group passenger number (thereof VIE ...
17.11.25
Q3 results: Bottom-line improvements warrant PT chg.
Semperit delivered solid Q3 results. Here are the key takeaways: Q3 sales came in at € 163m, up slightly by 1.1% yoy (eNuW: € 170m), impacted by a solid development in SIA with ...
17.11.25
Q3 review: operational turnaround in full swing
On Friday, Rosenbauer presented strong Q3 results. Here are the key takeaways: Q3 revenue of € 346m, up 12.8% yoy , exceeded expectations of € 338m (eNuW), carried by all major ...
14.11.25
TPG announced ambitious "Vision 2030" targets
On Wednesday, TPG announced its new long-term outlook Vision 2030 , targeting improving KPIs, topline growth, and margin expansions. In detail: Ambitious goals set for both ...
14.11.25
Q3 review: firm order intake and robust growth.
Yesterday, OHB released a strong set of Q3 results and a further rising order book amid a upcoming phase of strong newsflow. In detail: Q3’25 order intake reached € 350m , ...
14.11.25
Resilient Q3 Profitability // Convincing CMD; chg
Yesterday, Multitude reported resilient Q3’25 results and presented, at the 2025 CMD, a strong outlook for their business for the years to come. While Consumer Banking’s ...
14.11.25
Strong TB2 traction and order timing drive strong Q3 results
Yesterday, tonies released a very strong Q3 trading statement, beating our regional and category topline estimates. In detail: Group sales grew by 52% yoy to € 145m (eNuW: € 124m). ...
14.11.25
Q3 review: PW, but healthy and de-risked core business
Having reduced its FY’25 EBIT guidance last week, yesterday’s Q3 figures show a healthy core business. In detail: MLP reduced its FY’25e EBIT guidance last week to € 90-100m ...
13.11.25
Q2 review: rising utilization drives margin progression
Topic: Yesterday, DOC released a strong set of record breaking Q2 25/26 results, especially driven by stronger utilization rates across kitchens amid continuous intake of customers ...