Research Dynamics
21
Jun

2019

CPH – Investor Day Update

Diversification: Key to profitable growth

– Chemistry division: Innovation and integration
– Valuation

28
Feb

2019

CPH – FY2018 results

CPH marks bicentenary with record results

–  2018: Record operating performance across segments

–  Integration coupled with cost efficiencies, the key to growth

– Valuation: outperformed the benchmark by a wide margin

15
Oct

2018

CPH – Guidance Update

Growth momentum continues

-FY2018 guidance is in line with our estimates
-Public bond issue increased to CHF 100mn from CHF 85mn
-Valuation and conclusion

17
Sep

2018

CPH – Investor Day Update

On the road to a diversified industrial group

-Packaging division: Multiple growth levers
-Product innovation
-Diversification into growth markets
-Refinancing of CHF 85 mn via bond issue
-Valuation and conclusion

 

24
Jul

2018

CPH – HY2018 Results

Profitability soared on turnaround in the Paper division and strong results in Packaging

-Robust 1H2018 results, with top line growing in double digits
-Increase of full-year guidance
-Valuation and conclusion

 

26
Feb

2018

CPH – FY2017 results

The fruits of execution are coming through

– 2017: Revenue growth across segments
– Internationalization and cost efficiencies, the key to growth
– Chemistry and Packaging divisions to offset Paper underperformance
– Valuation: outperformed the benchmark by a wide margin

 

 

 

23
Jan

2018

CPH – Acquisition Sekoya

CPH strengthens its Packaging Division with Sekoya acquisition

– Sekoya Indústria e Comércio Ltda. will be integrated in CPH’s Packaging Division
–  Valuation and conclusion

3
Nov

2017

CPH – Acquisition Armar AG

CPH strengthens its chemicals’ position

– Armar AG will be integrated in CPH’s Chemistry Division
– 
Valuation and conclusion

26
Jul

2017

CPH – 1H2017 earnings update

Execution on track, but higher recycling paper prices erode margins

– Strong 1H 2017 sales, with top line growth in all divisions
– Segmental performance
– Guidance
– Zeochem merges its Swiss-based companies
– CPH Group’s Packaging and Chemistry division sharpens brand profile
– Paper Division to acquire Papierfabrik Utzenstorf AG’s paper recycling business
– Valuation and conclusion

28
Feb

2017

CPH – FY2016 results

On the road to profitable growth

– 2016: moderate revenue growth with positive EBIT
– Efforts should start yielding results
– An encouraging year ahead
– Valuation: market is yet to price in the operational improvements