In today’s briefing:
- MBK Hikes Youngpoong Precision Tender Price to ₩30,000: Tender Deadline Extended to the 14th
- MBK Raises Tender Offer Price of Young Poong Precision to 30,000 Won
- The Beat Ideas: Kilburn Engineering Limited: Differentiated Business, Multiple Acquisition, Growth
- Veralto: The Power of Customer Dependency and Recurring Revenue
- Armstrong World Industries: Diverse Product Demand in Mineral Fiber & Other Major Drivers
- Zuiko Corp (6279 JP): 1H FY02/25 flash update
- ATS Automation Tooling Systems: Will The Acquisition of Heidolph Instruments Push Their Growth Further? – Major Drivers
- Generac Holdings Inc.: Acquisition of Ageto for Strengthening of Microgrid Control & Energy Solutions & Other Major Drivers
- GFL Environmental Inc.: Focused Expansion in High-Growth Markets Driving Our Optimism! – Major Drivers
MBK Hikes Youngpoong Precision Tender Price to ₩30,000: Tender Deadline Extended to the 14th
- MBK is raising its tender offer for Young Poong Precision to ₩30,000 per share, matching Choi’s offer and extending the deadline to October 14. Filing expected tomorrow before market open.
- MBK targets 6.84 million shares, surpassing Choi’s 3.94 million cap. No hard floor, no cancellation risk, but MBK holds an edge in proration.
- The buzz is whether MBK will raise its Korea Zinc bid beyond 900,000 KRW, as Choi prepped with a 950,000 KRW offer. A bid hike and extension seem likely.
MBK Raises Tender Offer Price of Young Poong Precision to 30,000 Won
- MBK Partners announced that it is raising its tender offer price for Young Poong Precision from 25,000 won to 30,000 won, matching Choi family’s tender offer price of 30,000 won.
- Accordingly, MBK’s tender offer period for Young Poong Precision has been extended from 6 October to 14 October.
- The revised up tender offer price of Young Poong Precision by MBK at 30,000 won is likely to result in boosting its stock price closer to the 30,000 won.
The Beat Ideas: Kilburn Engineering Limited: Differentiated Business, Multiple Acquisition, Growth
- Kilburn Engineering (KEL IN) acquired new assets, expanded into waste heat recovery, and enhanced its market position with acquisitions in July and August 2024.
- Debt settlement, 2 Fundraise, 2 Mega acquisition, diversification of revenue and margin improvement are some key positives for Kilburn.
- Rs. 371Cr of Order Book, FY25E Revenue of Rs. 500Cr Revenue leads to 60% revenue growth and expecting margins of 20% will lead to huge potential for this company.
Veralto: The Power of Customer Dependency and Recurring Revenue
- With its Danaher Corp (DHR US) heritage, Veralto (VLTO US) has built a foundation based on durable and recurring sales growth, high profitability, and strong cash generation.
- Veralto’s products and services are mission-critical yet account for less than 1% of client costs, leading to high switching costs and ensuring customer retention and financial resilience through economic cycles.
- Veralto holds market leadership in both its Water Quality (WQ) and Product Quality & Innovation (PQI) segments, which positions it well for the increasing regulatory and environmental demands. .
Armstrong World Industries: Diverse Product Demand in Mineral Fiber & Other Major Drivers
- Armstrong World Industries, a global leader in the design and manufacture of innovative commercial and residential ceiling, wall, and suspension system solutions, delivered a strong financial performance in the second quarter of 2024, posting 12% growth in revenue and 13% growth in adjusted EBITDA.
- The company also reported adjusted net earnings per share growth of 17%, marking the sixth consecutive quarter of year-over-year growth.
- The results are anchored in robust execution and strategic growth initiatives, despite a challenging macroeconomic environment.
Zuiko Corp (6279 JP): 1H FY02/25 flash update
- Revenue decreased by 15.6% YoY to JPY8.4bn, primarily due to a drop in adult diaper machinery sales.
- Gross profit margin fell to 16.6%, leading to an operating loss of JPY179mn from a previous profit.
- Net loss attributable to parent shareholders was JPY705mn, affected by tax-effect accounting and stock holding downsizing.
ATS Automation Tooling Systems: Will The Acquisition of Heidolph Instruments Push Their Growth Further? – Major Drivers
- ATS Corporation’s first-quarter earnings for fiscal 2025 presented a multifaceted view of the company’s current position and future prospects.
- The company reported robust order bookings totaling $817 million, marking an 18% increase year-over-year, driven by notable organic growth in life sciences and the integration of the recently acquired company, Paxiom.
- Despite these gains, total revenue saw an 8% decrease to $694 million compared to the previous year,s impacted largely by anticipated lower activity in the transportation sector as the company begins executing recently won programs in life sciences.
Generac Holdings Inc.: Acquisition of Ageto for Strengthening of Microgrid Control & Energy Solutions & Other Major Drivers
- Generac Holdings Inc. reported its financial results for the second quarter of 2024, presenting both strengths and weaknesses in its performance.
- The company saw a near-flat year-over-year net sales at $998 million, with residential product sales increasing by 8%.
- This growth in the residential sector was primarily driven by a midteens rate increase in home standby generator shipments.
GFL Environmental Inc.: Focused Expansion in High-Growth Markets Driving Our Optimism! – Major Drivers
- GFL Environmental’s recent earnings results illustrate the inherent strengths and operational challenges within its diversified environmental services and solid waste management business.
- The company’s second-quarter performance showcased better-than-expected results, driven by strategic initiatives and sound operational management, underpinning the predictable and recurring revenue streams that define GFL Environmental’s business model.
- Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.
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