Packaging division to participate in the mega-trend of the pharmaceutical industry
– Packaging division: Set for secular long-term growth
– Solid track record
– Sustainability at its core
– Outlook for FY2024
– Valuation and conclusion
CPH Group AG is an internationally active and focused industrial group which is headquartered in Switzerland. CPH Group researches, develops, manufactures and distributes chemical products (www.zeochem.com) and pharmaceutical packaging films (www.perlen-packaging.com). The company and its subsidiaries maintain production facilities in Switzerland, Germany, Bosnia and Herzegovina, the USA, Brazil, China and India, and have a total worldwide workforce of some 830 personnel. The shares of CPH Group AG (ticker symbol: CPHN) are listed on the SIX Swiss Exchange.
Packaging division to participate in the mega-trend of the pharmaceutical industry
– Packaging division: Set for secular long-term growth
– Solid track record
– Sustainability at its core
– Outlook for FY2024
– Valuation and conclusion
Resilient performance and positive outlook after the separation of the Paper division
– Sales and profitability impacted by lower materials cost
– Segmental performance
– Outlook for FY2024
– Valuation and conclusion
Separation of Paper business from Chemistry and Packaging activities
– Deal Overview
– Focus on high growth and superior margin business
– Expanding the Chemical business inorganically in high-growth markets
– Strategic focus and prospects for Perlen Industrieholding AG post-separation
– Mitigate valuation discount and enhance investor value
– CPH Group AG after the transaction
– Valuation and conclusion
CPH Chemie + Papier Holding AG (CPH) announces plan to separate Paper business from Chemistry and Packaging activities
– Deal Overview
– Deal Rationale
– Focus on high growth and superior margin business
– Strategic focus and prospects for Perlen Industrieholding AG post-separation
– Valuation and conclusion
Resilient performance amidst challenges
– Segmental performance
– Outlook for FY2024
– Valuation and conclusion
FY 2023 targets reaffirmed amidst uncertain markets and focus on implementation of sustainability strategy
– Investor Day summary
– Sustainability
– Other highlights
– Valuation and conclusion
Mixed performance amid challenging market
– Profitability remains intact
– Outlook for FY2023e
– Valuation and conclusion
Broad-based growth across all divisions
– Elevated levels of profitability
– Outlook for FY2023
– Valuation and conclusion
Strong volumes and higher realizations lifts CPH’s profitability
– FY2022 guidance raised again with group EBIT guided above CHF 100 million
– Valuation and conclusion
Rising demand for products in the Chemistry division to drive future growth
Broad-based growth across all divisions
– Better volumes and realizations of price increases lift profitability
– Segmental performance
– Cautious outlook for FY2022
– Valuation and conclusion
Recovery in all divisions led by higher price realization
Recovery in all divisions to drive overall growth
Capex plans in place to tap emerging opportunities
– Chemistry and Packaging divisions continue to perform well
– Cautious outlook for 2021
– Valuation and conclusion
CPH to undertake expansion at Chemistry division
– Expansion in lithium molecular sieves capacity to tap the demand for portable oxygen concentrators
– Purmol capacity expansion to tap new and existing growing applications
– Investment program
– Valuation and conclusion
Packaging division at the forefront of the way forward
– Packaging Division to provide the next leg of growth
– Reaping benefits from the successful implementation of the long-term strategy
– Outlook
– Valuation and conclusion
Diversification helped tide over adversities
– Sound operating performance amidst a harsh environment
– Segmental performance
– Estimate changes
– Valuation and conclusion
CPH to merge with Uetikon Industrieholding AG
– Higher free float may aid rerating
– Estimates unchanged
– Valuation and conclusion
Adjustments to FY20 earnings outlook
– CPH Group to benefit from significant one-off effects
– Valuation and conclusion
At the forefront of the sustainability
– Strategy 2020-2024 – Implementation progressing well
– Paper Division well placed to mitigate challenges
– The lynchpin in reducing carbon footprint and sustainable production
– Domestically produced paper essential for sustainability
– Digital media lacks print in sustainability
– Valuation and conclusion
Tapping into growing packaging market
– Perlen Packaging to set-up a film coating plant in Brazil
– Expansion is key to tapping high growth emerging markets like Brazil
– Valuation and conclusion
Navigating a challenging environment
– Muted 1H/20 results, with cautious short-term outlook
– Segmental performance
– Estimate change
– Valuation and conclusion
Resilient performance despite global slowdown
-2019: Unprecedented EBIT margin reflects disciplined execution
-Focus on divisional balancing and expansion of planned activities
-Valuation: significant discount compared to peers
Execution on track despite macroeconomic challenges
– Healthy 1H2019 results, with all time high EBIT margins
– Full-year guidance maintained
– Refinancing to reduce financial burden
– Valuation and conclusion
Diversification: Key to profitable growth
– Chemistry division: Innovation and integration
– Valuation
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
Growth momentum continues
-FY2018 guidance is in line with our estimates
-Public bond issue increased to CHF 100mn from CHF 85mn
-Valuation and conclusion
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
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
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
CPH strengthens its Packaging Division with Sekoya acquisition
– Sekoya Indústria e Comércio Ltda. will be integrated in CPH’s Packaging Division
– Valuation and conclusion
CPH strengthens its chemicals’ position
– Armar AG will be integrated in CPH’s Chemistry Division
– Valuation and conclusion
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
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
Site for new European manufacturing unit acquired
– Land acquisition to diversify manufacturing base
– Sale of Uetikon facility
– In line with the Chemistry segment’s strategy
– Valuation and conclusion
On road to recovery
Sale of Uetikon site to Canton of Zurich
– Successful conclusion of lengthy negotiations
– Implications for CPH’s Chemistry division
– Strategically sensible move
– Valuation
Currency hits 2015 results, recovery seen in 2016
– 2015: Volumes increase, but strong currency depresses earnings
– Strategically important 2016: Entry into China market
– Performance likely to improve
– Valuation
Currency headwind shadows growth
Gratifying 2014 results, challenging outlook
– FY2014 numbers in line with guidance
– Execution of plans yield solid results
– A shift to high-growth markets to reduce dependency on Europe
– De-peg of CHF vs. EUR to be a near-term headwind
– Attractive entry point at current valuations
Erfreuliche Ergebnisse 2014, Ausblick herausfordernd
– Ergebnisse für das Geschäftsjahr 2014 im Einklang mit Guidance
– Projekt-Umsetzung führt zu soliden Ergebnissen
– Expansion in Wachstumsmärkte reduziert Abhängigkeit von Europa
– Aufhebung der Mindestgrenze zum EUR als kurzfristiger Gegenwind
– Attraktiver Einstiegszeitpunk bei aktueller Bewertung
Recovering its footing
– Exposure to high-growth markets to bolster revenues
– Investments in technology to boost margin expansion over long-term
– Healthy H1 2014; positive outlook over the medium-term
– Current valuation level offers an entry opportunity
Rückkehr zu Stabilität und Wachstum
– Fokus auf schnell wachsende Märkte
– Investitionen in Technologie zur langfristigen Verbesserung der Margen
– Robustes 1. Halbjahr 2014; mittelfristig positiver Ausblick
– Derzeitige Bewertung bietet Einstiegsmöglichkeiten
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