Click on headlines below to download research
Convertible bond issue
Deutsche Beteiligungs | 02/07/2024
Deutsche Beteiligungs (DBAG) completed an issue of €100m senior unsecured convertible bonds on 28 July, with proceeds to be used for co-investments…
Positive trial news lifts two portfolio holdings
BB Biotech | 26/06/2024
In our last BB Biotech (BION) review note, published in May 2024, we noted that the biotech sector was eagerly awaiting some key milestones, the most important…
2024: The year of M&A?
Edison Growth Conference panel – 2024: The year of M&A? | 19/06/2024
The second panel at the inaugural Edison Growth Conference 2024 was titled ‘2024 – the year of M&A?’ After a two-year bear market, where…
Successful exits assist H124 performance
Deutsche Beteiligungs | 28/05/2024
Deutsche Beteiligungs (DBAG) reported an NAV total return of 3% in H124 (to March 2024) following the first-time recognition of 2024 portfolio company…
London calling
Borussia Dortmund | 21/05/2024
Borussia Dortmund’s Q324 results demonstrated some phasing but it has made good progress year-to-date. The focus of attention now is the team’s…
A recovering sector with a healthy prognosis
BB Biotech | 20/05/2024
BB Biotech (BION) offers investors exposure to the innovative, rapidly expanding biotech sector. It is the largest biotech investor among its investment…
Increased churn weakens FY24 outlook
CLIQ Digital | 14/05/2024
CLIQ Digital delivered a disappointing start to FY24 in Q124, as its membership base fell following a change in refund programmes from credit card providers,…
Well on track in 2024
JDC Group | 14/05/2024
JDC Group (JDC) reported strong Q124 results. Revenue growth accelerated to 21.6% from 10% in FY23, driven by its Advisortech division (+22.6%). In terms…
Termination of coverage
Termination of coverage - paragon | 23/04/2024
Edison Investment Research is terminating coverage on ABC Arbitrage (ABCA), paragon (PGN), Foresight Solar Fund (FSFL), Kendrion (KENDR), Lithium Power…
Helping itself
Borussia Dortmund | 22/04/2024
Borussia Dortmund’s progress to the semi-final of the Champions League brings a further upgrade to profit guidance for FY24. In addition to helping…
Accelerating again in FY24
JDC Group | 08/04/2024
JDC Group (JDC) reported FY23 results that were in line with the preliminary results published on 8 March. After a very strong Q423, JDC expects FY24 revenue…
Termination of coverage
Termination of coverage - EQS Group | 22/03/2024
Edison Investment Research is terminating coverage on EQS Group (EQS). Please note you should no longer rely on any previous research or estimates for…
Progressing nicely
Borussia Dortmund | 18/03/2024
Borussia Dortmund’s first team was successful in progressing through to quarter finals of the Champions League, which naturally leads to an upgrade…
2024 could turn out to be a very strong year
JDC Group | 11/03/2024
JDC reported preliminary FY23 results that were broadly in line with estimates, implying an impressive EBITDA generation of €5m in Q4. JDC guides…
A more normal schedule
Borussia Dortmund | 05/03/2024
Borussia Dortmund’s Q224 results reflect the positive effects of a more normal football season versus the disruption from the FIFA World Cup in the…
Steady progress and share buyback announced
CLIQ Digital | 27/02/2024
CLIQ Digital showed robust revenue and profit growth in FY23 despite a more challenging backdrop. Revenue was below management guidance and Edison estimates,…
More profitable customers in FY23
CLIQ Digital | 01/02/2024
CLIQ Digital’s FY23 trading update showed sales coming in below both management’s guidance and our forecasts, although EBITDA was in line.…
Deutsche Beteiligungs AG in 60 seconds
Deutsche Beteiligungs AG in 60 seconds | 26/01/2024
Get the lowdown from Edison's Milosz Papst on this Germany-based and listed private equity investment and fund management company. It invests in mid-sized…
Starting a new chapter
Heliad | 25/01/2024
Heliad Equity Partners (HEP) and FinLab completed their merger in Q423. Heliad, the new combined entity, has seen positive developments across its three…
Solid exits in FY23, expanding into private debt
Deutsche Beteiligungs | 14/12/2023
Deutsche Beteiligungs (DBAG) posted a strong 18.1% NAV TR in FY23 (to end-September 2023), which more than offset the NAV TR loss in FY22 of c 13%. Its…
A full recovery
Borussia Dortmund | 11/12/2023
Borussia Dortmund is a leading football club with a strong track record of success in its domestic league, making it a relatively consistent competitor…
Navigating the road to growth
paragon | 07/12/2023
While we believe H223 represents a pause in growth at paragon’s ongoing automotive operations, we are cutting our near-term EBITDA margin contribution…
CLIQ Digital: executive interview
CLIQ Digital: executive interview | 22/11/2023
In this interview, filmed at the company's recent capital markets day, CLIQ Digital CEO Luc Voncken gives a brief overview of the company's activities…
Cloud-based regtech saas company
EQS Group: EKF 2023 QuickView | 21/11/2023
EQS provides cloud-based products and services to customers across Investor Relations (31% FY22 revenues) and corporate Compliance (69% FY22 revenues).…