Daily Briefs

• Halfway through the review period, there could be 6 changes for the Korea Stock Exchange KOSPI200 (KOSPI2 INDEX) in June. The LG CNS (LGCNSZ KS) listing could increase that number.
• The impact on the potential inclusions ranges from 2.1-26 days of ADV while the impact on the potential deletions varies from 5-11 days of ADV.
• The forecast adds have outperformed the forecast deletes over the last few months and the performance gap is near its widest point.

• In the past two trading days, share prices of T’Way Air (091810 KS) and T’Way Holdings (004870 KS) are down 16.4% and 14.1%, respectively.
• According to Hankyung daily, Daemyung Sono Group Chairman Seo may choose to wage a public opinion war, instead of purchasing additional shares.  
• If Daemyung Sono Group is unable to take over the management control of T’Way Air using this method, then a potential tender offer of T’Way Air is possible later on. 

• Kaynes Technology India (KAYNES IN) is looking to raise around US$185m in its upcoming qualified institutional placement (QIP).
• In an announcement released on Jan 22, 2025, Kaynes had mentioned its board’s approval to raise up to INR16bn via a QIP. Since then, the shares have corrected 8.6%.
• The deal would not be a large one to digest at 4.3 days of three month ADV. The company’s last fundraise did well.

• C.H. Robinson Worldwide’s latest quarterly financial disclosure provides insight into both the challenges and operational successes the company faced.
• A key feature of the discussion was the significant improvement in financial metrics year-over-year, despite operating within a continued freight recession.
• The company’s execution stands out, particularly through the adoption of the new Robinson operating model, which provided a framework for disciplined operations, embracing both human expertise and advanced technological tools.

• H1 FY2025/3 Earnings results summary: Takamiya (hereafter, the Company) reported sales of JPY 21,236 mn (+2.1% YoY), operating profit of JPY 802 mn (-33.5% YoY), ordinary profit of JPY 640 mn (-56.9% YoY), and profit attributable to owners of parent (hereafter, net profit) of JPY 498 mn (-50.5% YoY), falling short of initial forecasts.
• Sales fell 6.0% short of the initial forecast due to delays in the delivery of certain projects which have been pushed back to Q3 and beyond.
• FY2025/3 Company earnings forecast: The full-year forecasts for FY2025/3: net sales of JPY 49,500 mn (+12.2% YoY), operating profit of JPY 3,600 mn (+5.7% YoY), ordinary profit of JPY 3,220 mn (-10.1% YoY), net profit of JPY 2,000 mn (+5.9%). 

• RaaS has published an update report on environmental services company Fluence Corporation (ASX:FLC) following its Q4 quarterly and financial and operating update and guidance for the FY25 year.
• The company met its previous guidance for revenue of US$51.5m and an EBITDA loss of US$4.0m, which was 9% better than RaaS’ forecast for a US$4.4m loss.
• FLC has provided a strong outlook for FY25 guiding to revenue of US$80-95m and EBITDA of US$3.0-5.0m.

• In this edition: • Unilever | may opt for multiple listing venues for its ice cream unit • Basic-Fit | starts share management program to support stock liquidity • InPost | eying a takeover of struggling Yodel?
• • InPost / PostNL / bpost | online marketplaces to be liable for unsafe and illegal goods • Dutch retail sales | up 1.5% YoY in value terms in December and up 2.1% for FY24 • Dutch CPI | up 3.3% YoY in January based on the fast estimate

• CVGI is a tier 1 supplier to OEMs, specializing in seats, wiring harnesses, plastic casings, and mirrors for MD/HD Class 5-8 trucks and construction/agricultural equipment
• Despite customer concentration and cyclical demand, CVGI has strong relationships with major customers like Volvo, Daimler, Paccar, Navistar, Caterpillar, and John Deere
• CVGI faces limited price competition due to OEMs working with pre-approved suppliers and investing in product development, making them a successful and stable business in the competitive commercial vehicle industry.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Applied Industrial Technologies reported their fiscal 2025 first-quarter results, indicating a mixed performance amid ongoing economic uncertainties and strategic investments.
• The company experienced a moderate decline in organic daily sales of 3% compared to the previous year, though this was somewhat offset by a robust September performance, surpassing initial expectations.
• On the positive side, the company achieved a record first quarter for free cash flow generation, nearly doubling compared to the prior year, and maintained steady EBITDA performance, consistent with internal targets.

• Halfway through the review period, there could be 6 changes for the Korea Stock Exchange KOSPI200 (KOSPI2 INDEX) in June. The LG CNS (LGCNSZ KS) listing could increase that number.
• The impact on the potential inclusions ranges from 2.1-26 days of ADV while the impact on the potential deletions varies from 5-11 days of ADV.
• The forecast adds have outperformed the forecast deletes over the last few months and the performance gap is near its widest point.

• In the past two trading days, share prices of T’Way Air (091810 KS) and T’Way Holdings (004870 KS) are down 16.4% and 14.1%, respectively.
• According to Hankyung daily, Daemyung Sono Group Chairman Seo may choose to wage a public opinion war, instead of purchasing additional shares.  
• If Daemyung Sono Group is unable to take over the management control of T’Way Air using this method, then a potential tender offer of T’Way Air is possible later on. 

• Kaynes Technology India (KAYNES IN) is looking to raise around US$185m in its upcoming qualified institutional placement (QIP).
• In an announcement released on Jan 22, 2025, Kaynes had mentioned its board’s approval to raise up to INR16bn via a QIP. Since then, the shares have corrected 8.6%.
• The deal would not be a large one to digest at 4.3 days of three month ADV. The company’s last fundraise did well.

• C.H. Robinson Worldwide’s latest quarterly financial disclosure provides insight into both the challenges and operational successes the company faced.
• A key feature of the discussion was the significant improvement in financial metrics year-over-year, despite operating within a continued freight recession.
• The company’s execution stands out, particularly through the adoption of the new Robinson operating model, which provided a framework for disciplined operations, embracing both human expertise and advanced technological tools.

• H1 FY2025/3 Earnings results summary: Takamiya (hereafter, the Company) reported sales of JPY 21,236 mn (+2.1% YoY), operating profit of JPY 802 mn (-33.5% YoY), ordinary profit of JPY 640 mn (-56.9% YoY), and profit attributable to owners of parent (hereafter, net profit) of JPY 498 mn (-50.5% YoY), falling short of initial forecasts.
• Sales fell 6.0% short of the initial forecast due to delays in the delivery of certain projects which have been pushed back to Q3 and beyond.
• FY2025/3 Company earnings forecast: The full-year forecasts for FY2025/3: net sales of JPY 49,500 mn (+12.2% YoY), operating profit of JPY 3,600 mn (+5.7% YoY), ordinary profit of JPY 3,220 mn (-10.1% YoY), net profit of JPY 2,000 mn (+5.9%). 

• RaaS has published an update report on environmental services company Fluence Corporation (ASX:FLC) following its Q4 quarterly and financial and operating update and guidance for the FY25 year.
• The company met its previous guidance for revenue of US$51.5m and an EBITDA loss of US$4.0m, which was 9% better than RaaS’ forecast for a US$4.4m loss.
• FLC has provided a strong outlook for FY25 guiding to revenue of US$80-95m and EBITDA of US$3.0-5.0m.

• In this edition: • Unilever | may opt for multiple listing venues for its ice cream unit • Basic-Fit | starts share management program to support stock liquidity • InPost | eying a takeover of struggling Yodel?
• • InPost / PostNL / bpost | online marketplaces to be liable for unsafe and illegal goods • Dutch retail sales | up 1.5% YoY in value terms in December and up 2.1% for FY24 • Dutch CPI | up 3.3% YoY in January based on the fast estimate

• CVGI is a tier 1 supplier to OEMs, specializing in seats, wiring harnesses, plastic casings, and mirrors for MD/HD Class 5-8 trucks and construction/agricultural equipment
• Despite customer concentration and cyclical demand, CVGI has strong relationships with major customers like Volvo, Daimler, Paccar, Navistar, Caterpillar, and John Deere
• CVGI faces limited price competition due to OEMs working with pre-approved suppliers and investing in product development, making them a successful and stable business in the competitive commercial vehicle industry.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Applied Industrial Technologies reported their fiscal 2025 first-quarter results, indicating a mixed performance amid ongoing economic uncertainties and strategic investments.
• The company experienced a moderate decline in organic daily sales of 3% compared to the previous year, though this was somewhat offset by a robust September performance, surpassing initial expectations.
• On the positive side, the company achieved a record first quarter for free cash flow generation, nearly doubling compared to the prior year, and maintained steady EBITDA performance, consistent with internal targets.