Managing Partner, VRS (Valuation & Research Specialists)

VRS (Valuation & Research Specialists)

Managing Partner

Valuation & Research Specialists (VRS) is a boutique financial advisor with more than 17 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Greece.

Since 2002, VRS has completed more than 200 engagements in the areas of business valuation and financial analysis for more than 100 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

Boutique Financial Advisor

Thematic (Sector/Industry)

<ul>
<li>In Econote No. 110 ( Nov.Dec 2022) we broached the topic of investing in the Defence sectors of various West and Asian economies.</li>
<li>The reasons for this were very simple: First, the war in the Ukraine resulted to a sharp rise in defence spending in western countries and, second, this rise would not cease with the end of the war but presented a pivot to higher defence spending, not only in western countries, but also in areas such as Asia.</li>
<li>Hence the outlook for Defence stocks was, and is very bright, as witnessed by their persistent outperformance of the S&amp;P 500 and still reasonable valuations.</li>
</ul>


In Econote No. 110 ( Nov.Dec 2022) we broached the topic of investing in the Defence sectors of various West and Asian economies.
The reasons for this were very simple: First, the war in the Ukraine resulted to a sharp rise in defence spending in western countries and, second, this rise would not cease with the end of the war but presented a pivot to higher defence spending, not only in western countries, but also in areas such as Asia.
Hence the outlook for Defence stocks was, and is very bright, as witnessed by their persistent outperformance of the S&amp;P 500 and still reasonable valuations.


Ecognosis Advisory Ltd - ECONOTE No. 111 Investing in the Defence Sector

Leading International Investment Research, Edison Investment Research

Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Equity Bottom-Up

<p>Thales was the ugly duckling of the aerospace & defence sector for many years. However, it delivered organic growth in 2015 for the first time in six years, is closing in on its 9.5-10% EBIT margin target and has won a number of high-value contracts. Its transformation into a swan has seen the stock trading up 32% ytd (vs the SXP -4.5%), on a premium rating of 19.1x FY17e compared to the sector average of 16.5x. Thales&#8217;s adaptation into a streamlined, competitive technology company with growing emerging market exposure is well rated, but further catalysts are required.</p>

Thales was the ugly duckling of the aerospace & defence sector for many years. However, it delivered organic growth in 2015 for the first time in six years, is closing in on its 9.5-10% EBIT margin target and has won a number of high-value contracts. Its transformation into a swan has seen the stock trading up 32% ytd (vs the SXP -4.5%), on a premium rating of 19.1x FY17e compared to the sector average of 16.5x. Thales&#8217;s adaptation into a streamlined, competitive technology company with growing emerging market exposure is well rated, but further catalysts are required.

France

Thales SA manufactures aerospace systems and industrial electronics products. The Company manufactures radar and countermeasure systems, optronics and electron tubes, communications, navigation, and identification systems, air traffic management systems, computer hardware and software, missile defense systems, and semiconductors.  Thales serves the civilian and military markets.

Thales SA (HO FP)

Ecognosis Advisory Ltd - ECONOTE No. 111 Investing in the Defence Sector

In Econote No. 110 ( Nov.Dec 2022) we broached the topic of investing in the Defence sectors of various West and Asian economies.

VRS (Valuation & Research Specialists)

The ugly duckling has become a swan

Thales was the ugly duckling of the aerospace & defence sector for many years. However, it delivered organic growth in 2015 for the first time...

Edison Investment Research