In today’s briefing:
- Nittobo (3110 JP): Scarcity Premium in AI Substrates with Strong Earnings Visibility
- Amaero International Ltd – Visibility on 80% of Q1 and Q2 FY26 sales via contracts
- Daimler Truck Holding: Initiation of Coverage- How Global Partnerships & EV Tech Could Redefine Trucking Forever!
- Hapag-Lloyd: Initiation of Coverage- Can a $5.9 Billion War Chest Shield It From Global Turmoil?
- Sunrun: How Are They Moving Forward With Subscriber Growth & Strategic Market Expansion!
- Zuiko Corp (6279 JP): Q1 FY02/26 flash update
Nittobo (3110 JP): Scarcity Premium in AI Substrates with Strong Earnings Visibility
- Revenue grew steadily over five years, supported by demand for high-performance glass cloth used in advanced semiconductor packaging.
- It controls a critical bottleneck in AI substrates and is expanding capacity with ¥80B capex through FY28.
- EPS is set to rise 46% by FY28, with fwd PE at 9.3x and EV/EBITDA at 5.1x, suggesting scope for valuation re-rating.
Amaero International Ltd – Visibility on 80% of Q1 and Q2 FY26 sales via contracts
- Amaero Ltd (ASX:3DA) is a global specialist in advanced materials manufacturing for the defence, aerospace and other industrial sectors, developing a critical metals alloy powder manufacturing facility in Tennessee, USA.
- In an ASX release on June 23, the company announced that it has completed commissioning of the second advanced Electrode Induction Melting Inert Gas Atomiser (EIGA premium) on schedule at its Tennessee manufacturing facility.
- Amaero also reaffirmed its guidance that revenue was expected to significantly scale in FY26 and shared that through the contract sales it has secured in long-term agreements, it now has visibility on ~80% of its planned Q1 and Q2 FY26 sales.
Daimler Truck Holding: Initiation of Coverage- How Global Partnerships & EV Tech Could Redefine Trucking Forever!
- Daimler Truck’s recent quarterly results exhibit a blend of strong financial performance and strategic restructuring, coupled with challenges in certain geographies and market segments.
- For the first quarter of 2025, the company reported solid results with revenues of EUR 11.6 billion driven by selling 99,800 units, leading to an adjusted group EBIT of EUR 1.2 billion and earnings per share of EUR 0.99.
- However, free cash flow in the industrial segment was modest at EUR 33 million.
Hapag-Lloyd: Initiation of Coverage- Can a $5.9 Billion War Chest Shield It From Global Turmoil?
- Hapag-Lloyd’s first-quarter 2025 results indicate a robust start to the year, supported by solid financial performance despite ongoing operational challenges.
- The company recorded a significant year-over-year increase in transport volumes, achieving a 9% growth.
- This outpaces the global market growth rate of approximately 4.2%, demonstrating Hapag-Lloyd’s effective market positioning and operational efficiency.
Sunrun: How Are They Moving Forward With Subscriber Growth & Strategic Market Expansion!
- Sunrun Inc. recently presented its first-quarter earnings with a mixed set of results, highlighting both opportunities and potential challenges ahead.
- The company reported impressive results in cash generation and market share gains over the quarter.
- One clear takeaway was Sunrun’s consistent focus on maintaining financial discipline while navigating a dynamic energy market landscape, underscored by its fourth consecutive quarter of positive cash flow with $56 million in cash generated.
Zuiko Corp (6279 JP): Q1 FY02/26 flash update
- Revenue increased by 32.0% YoY to JPY5.2bn, driven by growth in Japan and China markets.
- Gross profit margin declined by 5.1pp YoY to 12.9%, with operating loss reduced to JPY75mn.
- Net loss attributable to owners narrowed to JPY42mn, with no extraordinary gains recorded in Q1 FY02/26.
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